Suffolk Pharma Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Suffolk Pharma Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11473075 . The registered office is 205, Plumstead Road, Norwich, Norfolk, NR1 4AB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Leasehold	No depreciation
Motor Vehicles	25% reducing balance
Fixtures, fittings and equipment	15% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Suffolk Pharma Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.10. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.11. Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 30 (2024: 38)

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Suffolk Pharma Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 December 2024	1,363,115
Disposals	(386,560 )

As at 30 November 2025	976,555

Amortisation
As at 1 December 2024	287,625
Provided during the period	63,324
Disposals	(123,246 )

As at 30 November 2025	227,703

Net Book Value
As at 30 November 2025	748,852

As at 1 December 2024	1,075,490

5. Tangible Assets

	Land & Property
	Freehold	Leasehold	Motor Vehicles	Fixtures, fittings and equipment	Total
	£	£	£	£	£
Cost
As at 1 December 2024	510,691	16,365	210,070	61,932	799,058
Additions	-	-	-	2,531	2,531
Disposals	-	-	-	(18,581 )	(18,581 )

As at 30 November 2025	510,691	16,365	210,070	45,882	783,008

Depreciation
As at 1 December 2024	-	-	117,404	34,738	152,142
Provided during the period	-	-	23,166	4,094	27,260
Disposals	-	-	-	(11,804 )	(11,804 )

As at 30 November 2025	-	-	140,570	27,028	167,598

Net Book Value
As at 30 November 2025	510,691	16,365	69,500	18,854	615,410

As at 1 December 2024	510,691	16,365	92,666	27,194	646,916

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	302,849	410,223
Other debtors	3,600,766	2,925,387

	3,903,615	3,335,610

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Suffolk Pharma Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	308,711	499,433
Other creditors	72,493	172,084
Taxation and social security	163,474	184,798

	544,678	856,315

8. Related Party Transactions

Mr Mitul Patel, Mr Sanjay Patel and Mrs Melissa Kate Peet are Directors of Suffolk Pharma Ltd.

At the balance sheet date, the total amount owed by the company to the directors is £65,749.12 (2024: £65,749.12 ).

During the year the company has declared a dividend of £0.00 (2024: £265,000.00).

9. Summary of transactions with other related parties

Hereford Hub Retail Limited