Company Registration No. 09668055 (England and Wales)
Pharmica Ltd
Unaudited accounts
for the year ended 31 December 2024
Pharmica Ltd
Company Information
for the year ended 31 December 2024
Company Number
09668055 (England and Wales)
Registered Office
236 Gray's Inn Road
London
WC1X 8HB
Accountants
Barnes & Scott
86-90 Paul Street
London
EC2A 4NE
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Pharmica Ltd for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Pharmica Ltd for the year ended
31 December 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Pharmica Ltd, as a body, in accordance with the terms of our engagement letter dated 19 April 2017. Our work has been undertaken solely to prepare for your approval the accounts of Pharmica Ltd and state those matters that we have agreed to state to the Board of Directors of Pharmica Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pharmica Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pharmica Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pharmica Ltd. You consider that Pharmica Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Pharmica Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott
Chartered Accountants
86-90 Paul Street
London
EC2A 4NE
30 September 2025
Pharmica Ltd
Statement of financial position
as at 31 December 2024
Inventories
738,071
704,496
Debtors
1,567,912
1,560,681
Cash at bank and in hand
2,122,473
2,084,202
Creditors: amounts falling due within one year
(2,054,209)
(1,287,279)
Net current assets
2,374,247
3,062,100
Net assets
2,377,840
3,062,965
Called up share capital
10
10
Profit and loss account
2,377,830
3,062,955
Shareholders' funds
2,377,840
3,062,965
For the year ending 31 December 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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
Rishi A Krishna
Director
Company Registration No. 09668055
Pharmica Ltd
Notes to the Accounts
for the year ended 31 December 2024
Pharmica Ltd is a private company, limited by shares, registered in England and Wales, registration number 09668055. The registered office is 236 Gray's Inn Road, London, WC1X 8HB.
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.
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:
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
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 medicines is recognised when they have been delivered to customers such that risks and rewards of ownership have transferred to them.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Pharmica Ltd
Notes to the Accounts
for the year ended 31 December 2024
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Tangible fixed assets
Total
At 31 December 2024
12,949
5
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
61,316
122,631
Later than one year and not later than five years
-
61,316
6
Average number of employees
During the year the average number of employees was 39 (2023: 31).