Newpharm Ltd iXBRL

Company Registration Number: NI028001

Newpharm Ltd

Unaudited Financial Statements

for the financial year ended 31 March 2025

Newpharm Ltd

DIRECTOR AND OTHER INFORMATION


Director	Mr. Richard Garvey


Company Registration Number	NI028001


Registered Office	42 Dernaroy Road
	Killeavy
	Newry
	Co. Down
	BT35 8SP
	Northern Ireland


Business Address	Newry Health Village
	Monaghan Street
	Newry
	Co. Down
	BT35 6BW
	United Kingdom


Accountants	MG accountants
	(Portadown)
	25-27 Carleton Street
	Portadown
	Co. Armagh
	BT62 3EP


Bankers	Danske Bank
	58 Hill Street
	Newry
	Co. Armagh
	BT34 1AR
	United Kingdom

Newpharm Ltd

Company Registration Number: NI028001

BALANCE SHEET

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

43,758

44,693

─────────

Current Assets

Stocks

95,000

95,000

Debtors

377,914

250,071

Cash and cash equivalents

56,025

77,580

─────────

528,939

422,651

─────────

Creditors: amounts falling due within one year

(224,986)

(198,293)

─────────

Net Current Assets

303,953

224,358

─────────

Total Assets less Current Liabilities

347,711

269,051

Provisions for liabilities

(3,439)

(3,673)

─────────

Net Assets

344,272

265,378

═════════

Capital and Reserves

Called up share capital

Retained earnings

344,264

265,370

─────────

Equity attributable to owners of the company

344,272

265,378

═════════

The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 28 August 2025



________________________________
Mr. Richard Garvey
Director

Newpharm Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Newpharm Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI028001. The registered office of the company is 42 Dernaroy Road, Killeavy, Newry, Co. Down, BT35 8SP, Northern Ireland. The principal activity of the company is the preparation and retail of pharmaceutical and medicinal products. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold

4% Straight line

Equipment

15% Straight line

Fixtures & fittings

15% Straight line

Licence

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including director, during the financial year was 9, (2024 - 9).

2025

2024

Number

Number

Shop Staff

═════════


4.	Tangible assets
		Land and	Equipment	Fixtures	Licence	Total
		buildings		& fittings
		freehold
		£	£	£	£	£
	Cost
	At 1 April 2024	31,253	20,138	95,827	30,000	177,218
	Additions	-	-	2,505	-	2,505
		─────────	─────────	─────────	─────────	─────────
	At 31 March 2025	31,253	20,138	98,332	30,000	179,723
		─────────	─────────	─────────	─────────	─────────
	Depreciation
	At 1 April 2024	31,253	16,926	84,346	-	132,525
	Charge for the financial year	-	643	2,797	-	3,440
		─────────	─────────	─────────	─────────	─────────
	At 31 March 2025	31,253	17,569	87,143	-	135,965
		─────────	─────────	─────────	─────────	─────────
	Net book value
	At 31 March 2025	-	2,569	11,189	30,000	43,758
		═════════	═════════	═════════	═════════	═════════
	At 31 March 2024	-	3,212	11,481	30,000	44,693
		═════════	═════════	═════════	═════════	═════════


5.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	95,000	95,000
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


6.	Debtors	2025	2024
		£	£

	Trade debtors	108,272	97,634
	Amounts owed by related parties	249,094	135,161
	Taxation (Note 8)	17,117	17,276
	Prepayments and accrued income	3,431	-
		─────────	─────────
		377,914	250,071
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Trade creditors	191,312	190,505
	Taxation (Note 8)	29,989	5,353
	Accruals	3,685	2,435
		─────────	─────────
		224,986	198,293
		═════════	═════════


8.	Taxation	2025	2024
		£	£

	Debtors:
	VAT	17,117	17,276
		═════════	═════════
	Creditors:
	Corporation tax	26,532	1,435
	PAYE / NI	3,457	3,918
		─────────	─────────
		29,989	5,353
		═════════	═════════

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

3,673

3,673

1,966

Charged to profit and loss

(234)

(234)

1,707

─────────

At financial year end

3,439

3,673

═════════

10.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2025.

11.

Parent company

The company regards Meigh Pharmacy Limited as its parent company.

12.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.