Registration number: NI624770

Pillpacplus Ltd

(Registration number: NI624770)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	898,469	983,798
Tangible assets	5	27,065	35,568
		925,534	1,019,366
Current assets
Stocks		294,571	332,579
Debtors	6	116,719	177,563
Cash at bank and in hand		83,729	38,078
		495,019	548,220
Creditors: Amounts falling due within one year	7	(974,272)	(838,028)
Net current liabilities		(479,253)	(289,808)
Total assets less current liabilities		446,281	729,558
Creditors: Amounts falling due after more than one year	7	(306,883)	(341,804)
Net assets		139,398	387,754
Capital and reserves
Called up share capital	8	300	300
Retained earnings		139,098	387,454
Shareholders' funds		139,398	387,754

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Pillpacplus Ltd

(Registration number: NI624770)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 20 November 2025
 

......................................... Mr Stephen Burns Director

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 30 Ballymena Business Centre, 62 Fenaghy Road, Ballymena, Co. Antrim, BT42 1FL.

These financial statements were authorised for issue by the director on 20 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts receivable, net of value added tax, in respect of the sale of goods and services to customers.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% per year reducing balance basis
Motor vehicles	20% per year straight line basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Research and development expenditure incurred on projects where the company has now moved to the development phase of the project are identified as an intangible asset and are amortised over the expected period that the future economic benefit will accrue to the company.

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patents	20% per year straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2024 - 14).

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Patents £	Research & development costs  £	Total £
Cost or valuation
At 1 April 2024	7,096	1,093,952	1,101,048
Additions	-	150,475	150,475
At 31 March 2025	7,096	1,244,427	1,251,523
Amortisation
At 1 April 2024	7,096	110,154	117,250
Amortisation charge	-	235,804	235,804
At 31 March 2025	7,096	345,958	353,054
Carrying amount
At 31 March 2025	-	898,469	898,469
At 31 March 2024	-	983,798	983,798

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Motor vehicles  £	Plant and equipment  £	Total £
Cost or valuation
At 1 April 2024	26,932	85,864	112,796
Additions	-	499	499
At 31 March 2025	26,932	86,363	113,295
Depreciation
At 1 April 2024	22,138	55,090	77,228
Charge for the year	2,746	6,256	9,002
At 31 March 2025	24,884	61,346	86,230
Carrying amount
At 31 March 2025	2,048	25,017	27,065
At 31 March 2024	4,794	30,774	35,568

6

Debtors

Current	2025 £	2024 £
Trade debtors	71,733	138,275
Prepayments	44,986	39,288
	116,719	177,563

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	9	200,521	234,410
Trade creditors		192,271	151,986
Amounts owing to related parties		355,561	247,561
Taxation and social security		35,355	29,603
Other creditors		190,564	174,468
		974,272	838,028
Due after one year
Loans and borrowings	9	67,748	341,804
Other financial liabilities		239,135	-
		306,883	341,804

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	300	300	300	300

9	Loans and borrowings

		2025 £	2024 £
Non-current loans and borrowings
Bank borrowings		6,883	41,804
Other borrowings		60,865	300,000
		67,748	341,804

Pillpacplus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	34,921	39,327
Bank overdrafts	165,600	191,952
Hire purchase contracts	-	3,131
	200,521	234,410