Company Registration No. 05242793 (England and Wales)
Sp Pharm Limited
Unaudited accounts
for the year ended 30 September 2024
Sp Pharm Limited
Unaudited accounts
Contents
Sp Pharm Limited
Company Information
for the year ended 30 September 2024
Company Number
05242793 (England and Wales)
Registered Office
14 Wesley Drive
Egham
Surrey
TW20 9JB
England
Accountants
P10 Accountancy Ltd
Egerton House
68 Baker Street
Weybridge
KT13 8AL
Sp Pharm Limited
Statement of financial position
as at 30 September 2024
Intangible assets
23,000
34,500
Tangible assets
9,154
12,205
Cash at bank and in hand
(7,465)
8,090
Creditors: amounts falling due within one year
(156,221)
(138,101)
Net current liabilities
(11,097)
(5,348)
Total assets less current liabilities
21,057
41,357
Creditors: amounts falling due after more than one year
(6,667)
(16,667)
Called up share capital
100
100
Profit and loss account
14,290
24,590
Shareholders' funds
14,390
24,690
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2025 and were signed on its behalf by
Kulwant Virdi
Director
Company Registration No. 05242793
Sp Pharm Limited
Notes to the Accounts
for the year ended 30 September 2024
Sp Pharm Limited is a private company, limited by shares, registered in England and Wales, registration number 05242793. The registered office is 14 Wesley Drive, Egham, Surrey, TW20 9JB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Sp Pharm Limited
Notes to the Accounts
for the year ended 30 September 2024
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are never taxable or deductible. The companyâs liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Intangible fixed assets
Goodwill
At 30 September 2024
230,000
Charge for the year
11,500
At 30 September 2024
207,000
At 30 September 2024
23,000
At 30 September 2023
34,500
Intangible assets are written down over a period of 20 years.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2023
3,322
131,137
134,459
At 30 September 2024
3,322
131,137
134,459
At 1 October 2023
3,322
118,932
122,254
Charge for the year
-
3,051
3,051
At 30 September 2024
3,322
121,983
125,305
At 30 September 2024
-
9,154
9,154
At 30 September 2023
-
12,205
12,205
Sp Pharm Limited
Notes to the Accounts
for the year ended 30 September 2024
Amounts falling due within one year
Trade debtors
91,730
89,674
Amounts due from group undertakings etc.
1,946
162
Accrued income and prepayments
2,242
1,969
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Trade creditors
97,579
88,065
Taxes and social security
21,308
16,926
Other creditors
27,334
11,110
Loans from directors
-
9,792
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 8 (2023: 7).