REGISTERED NUMBER: 13058137 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gillpharm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Daljit Singh Gill

REGISTERED OFFICE:

Office 1

21 Hatherton Street

Walsall

WS4 2LA

REGISTERED NUMBER:

13058137 (England and Wales)

ACCOUNTANTS:

Dhillon Accountants Limited

Chartered Accountants

Office 1

21 Hatherton Street

Walsall

WS4 2LA

FIXED ASSETS

Intangible assets

4

712,490

755,239

Tangible assets

5

205,242

131,891

917,732

887,130

CURRENT ASSETS

Stocks

82,940

123,482

Debtors

6

465,175

288,798

Cash at bank and in hand

165,453

264,943

713,568

677,223

CREDITORS

Amounts falling due within one year

7

(929,216

)

(885,216

)

NET CURRENT LIABILITIES

(215,648

)

(207,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

702,084

679,137

CREDITORS

Amounts falling due after more than one year

8

(443,683

)

(485,118

)

NET ASSETS

258,401

194,019

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

258,301

193,919

SHAREHOLDERS' FUNDS

258,401

194,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr Daljit Singh Gill - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business is being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

1% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

854,987

AMORTISATION

At 1 January 2024

99,748

Charge for year

42,749

At 31 December 2024

142,497

NET BOOK VALUE

At 31 December 2024

712,490

At 31 December 2023

755,239

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

39,018

102,208

141,226

Additions

49,631

47,005

96,636

At 31 December 2024

88,649

149,213

237,862

DEPRECIATION

At 1 January 2024

238

9,097

9,335

Charge for year

619

22,666

23,285

At 31 December 2024

857

31,763

32,620

NET BOOK VALUE

At 31 December 2024

87,792

117,450

205,242

At 31 December 2023

38,780

93,111

131,891

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Trade debtors

149,492

161,809

Other debtors

315,683

126,989

465,175

288,798

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Bank loans and overdrafts

78,659

78,649

Trade creditors

221,491

308,280

Taxation and social security

53,957

35,575

Other creditors

575,109

462,712

929,216

885,216

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Bank loans

443,683

485,118

9.	RELATED PARTY DISCLOSURES

Included in other debtors are the balances due from the companies mentioned below as at 31 December 2024:

- Gill Holding Investments Limited - £72,648 (2023 - £5,973)

- Gillpharm Property Investments Limited - £103,650 (2023 - £5,880)

- Pyramid 1 Limited - £15,870 (2023 - £65,070)

- Pyramid Pharma 10 Limited - £65,240 (2023 - NIL)

The all above loans are interest free and repayable on demand.

Mr Daljit Singh Gill is the director of above mentioned companies as at 31 December 2024.