General Information
Pharmalinc Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 07734974, registration address 40 Melbourne Road, Ilford, Essex, IG1 4LG.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
6 Years Straight Line
|
| Motor Vehicles |
4 Years Straight Line
|
| Fixtures and Fittings |
5 Years Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 11 (2024 : 10).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 September 2024 |
- |
|
45,000 |
|
41,705 |
|
28,022 |
|
114,727 |
| Additions |
- |
|
11,000 |
|
31,360 |
|
- |
|
42,360 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
- |
|
56,000 |
|
73,065 |
|
28,022 |
|
157,087 |
| Depreciation |
| At 01 September 2024 |
- |
|
22,500 |
|
25,173 |
|
24,732 |
|
72,405 |
| Charge for year |
10,714 |
|
- |
|
16,698 |
|
3,290 |
|
30,702 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
10,714 |
|
22,500 |
|
41,871 |
|
28,022 |
|
103,107 |
| Net book values |
| Closing balance as at 31 August 2025 |
(10,714) |
|
33,500 |
|
31,194 |
|
- |
|
53,980 |
| Opening balance as at 01 September 2024 |
- |
|
22,500 |
|
16,532 |
|
3,290 |
|
42,322 |
|
| 4. |
Share Capital
Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
1
Class A share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
2
|