PHARMAELITE LTD


Director	JAWAD, Husam


Registered Address	Unit G04 10 Courtenay Road
	East Lane
	Wembley
	HA9 7ND


Registered Number	08197270 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		39,380		50,166
			39,380		50,166
Current assets
Stocks	5	82,883		51,884
Debtors	6	2,011,947		1,498,217
Cash at bank and on hand		43,283		25,032
		2,138,113		1,575,133
Creditors amounts falling due within one year	7	(1,671,176)		(1,400,589)
Net current assets (liabilities)			466,937		174,544
Total assets less current liabilities			506,317		224,710
Creditors amounts falling due after one year	8		(303,229)		(330,326)
Net assets			203,088		(105,616)
Capital and reserves
Called up share capital			100		100
Profit and loss account			202,988		(105,716)
Shareholders' funds			203,088		(105,616)

The company was entitled to exemption from audit for this reporting period 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 29 September 2025, and are signed on its behalf by:

JAWAD, Husam
Director
Registered Company No. 08197270

PHARMAELITE LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	25
	Vehicles	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	6		6

3.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 January 24	100,562	14,213	114,775
Additions	-	1,951	1,951
At 31 December 24	100,562	16,164	116,726
Depreciation and impairment
At 01 January 24	54,602	10,007	64,609
Charge for year	11,490	1,247	12,737
At 31 December 24	66,092	11,254	77,346
Net book value
At 31 December 24	34,470	4,910	39,380
At 31 December 23	45,960	4,206	50,166

4.	Fixed asset investments

5.	Stocks

	2024	2023
	£	£
Finished goods	82,883	51,884
Total	82,883	51,884

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	631,588	84,956
Amounts owed by group undertakings	6,621	6,621
Amounts owed by associates and joint ventures / participating interests	198,114	192,614
Other debtors	48,840	61,962
Prepayments and accrued income	1,219	1,499
Total	886,382	347,652

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	271,928	248,525
Amounts owed to related parties	706,322	612,405
Taxation and social security	65,594	269
Other creditors	627,332	539,390
Total	1,671,176	1,400,589


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	303,229	330,326
Total	303,229	330,326

9.	Directors advances, credits and guarantees
	At the year end, the amount due to Director Mr Husam Jawad was in 2024 : £41,740 (2023: £111,093)

10.	Related party transactions
	Other debtors includes balance of £198,114 (2023: £192,613) related to Bropharma limited, £6,621 (2023: £6,621) related to Jawad Property, £140,150 (2023: £165,700) related to Myhealth Pharmacy Limited, £590,742 (2023:£590,742) related to Nukare Holdings Limited, £394,123 (2023:£394,123) related to Vital Health Holdings Limited. Other Creditors includes balance of £494,058 (2023:£378,284) related to Daya Limited and £693,913 (2023:£609,913) related to Greystone Limited and £2,492 (2023:£2,492) related to Issam Group.

10.

Related party transactions

Other debtors includes balance of £198,114 (2023: £192,613) related to Bropharma limited, £6,621 (2023: £6,621) related to Jawad Property, £140,150 (2023: £165,700) related to Myhealth Pharmacy Limited, £590,742 (2023:£590,742) related to Nukare Holdings Limited,  £394,123 (2023:£394,123) related to Vital Health Holdings Limited. 

Other Creditors includes balance of £494,058 (2023:£378,284) related to Daya Limited and £693,913 (2023:£609,913) related to Greystone Limited and £2,492 (2023:£2,492) related to Issam Group.