ACCOUNTS - Final Accounts

Registered number: 05703683

LANCASTER PHARMAQUAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

LANCASTER PHARMAQUAL LIMITED

REGISTERED NUMBER: 05703683

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		5,605		7,003
			5,605		7,003
Current assets
Debtors: amounts falling due within one year	5	9,547		15,016
Cash at bank and in hand	6	3,867		31,658
		13,414		46,674
Creditors: amounts falling due within one year	7	(18,919)		(23,047)
Net current (liabilities)/assets			(5,505)		23,627
Total assets less current liabilities			100		30,630

Net assets			100		30,630

Capital and reserves
Called up share capital	100	100
Profit and loss account	-	30,530
	100	30,630

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LANCASTER PHARMAQUAL LIMITED

REGISTERED NUMBER: 05703683

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 December 2025.

................................................

Mark Lancaster

Director

The notes on pages 3 to 6 form part of these financial statements.

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LANCASTER PHARMAQUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Lancaster Pharmaqual Limited is a private company incorporated in England and Wales, limited by its share capital. The principal activity of the Company is the provision of pharmaceutical and scientific consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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LANCASTER PHARMAQUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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LANCASTER PHARMAQUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2024	23,750
	At 31 March 2025	23,750
	Depreciation
	At 1 April 2024	16,747
	Charge for the year on owned assets	1,398
	At 31 March 2025	18,145
	Net book value
	At 31 March 2025	5,605
	At 31 March 2024	7,003

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LANCASTER PHARMAQUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	11,376
Other debtors	9,205	1,981
Prepayments and accrued income	342	1,659
	9,547	15,016

Included within other debtors due within one year is a loan to Mark and Valerie Lancaster, the directors, amounting to £6,300 (2024 - £4,293 owed by the Company).

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	3,867	31,658
	3,867	31,658

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

Corporation tax	17,506	18,652
Other creditors	-	4,293
Accruals and deferred income	1,413	102
	18,919	23,047

8.	Controlling party

The Company is controlled by the directors, Mark Lancaster and Valerie Lancaster, by virtue of their shareholdings, as described in the directors' report.

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