Company Registration No. 15091426 (England and Wales)
Vittal Pharma Ltd
Unaudited accounts
for the year ended 31 August 2025
Vittal Pharma Ltd
Unaudited accounts
Contents
Vittal Pharma Ltd
Company Information
for the year ended 31 August 2025
Directors
INAMDAR, Bhavinkumar Mahendrabhai
KANADIA, Bhavi Sanchez
Company Number
15091426 (England and Wales)
Registered Office
116 Railway Arches
Chapman Street
London
London
E1 2PH
England
Vittal Pharma Ltd
Statement of financial position
as at 31 August 2025
Intangible assets
226,086
39,048
Tangible assets
29,286
25,818
Cash at bank and in hand
2,658
2,808
Creditors: amounts falling due within one year
(438,348)
(199,832)
Net current liabilities
(322,749)
(106,503)
Net liabilities
(67,377)
(41,637)
Called up share capital
200
200
Profit and loss account
(67,577)
(41,837)
Shareholders' funds
(67,377)
(41,637)
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by
INAMDAR, Bhavinkumar Mahendrabhai
Director
Company Registration No. 15091426
Vittal Pharma Ltd
Notes to the Accounts
for the year ended 31 August 2025
Vittal Pharma Ltd is a private company, limited by shares, registered in England and Wales, registration number 15091426. The registered office is 116 Railway Arches, Chapman Street, London, London, E1 2PH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on straight line method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Vittal Pharma Ltd
Notes to the Accounts
for the year ended 31 August 2025
The financial statements have been prepared on a going concern basis.
The company has incurred losses/has net liabilities. The continued adoption of the going concern basis is dependent upon the ongoing financial support of the directors.
The directors have confirmed that they intend to continue to support the company financially for at least twelve months from the date of approval of these financial statements and will not seek repayment of existing amounts owed to them until the company is able to do so from surplus cash flows.
On this basis, the directors consider that it is appropriate to prepare the financial statements on a going concern basis. These financial statements do not include any adjustments that would be required if the company were unable to continue as a going concern.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortization.
Internally generated intangible assets are recognized only if the development phase criteria under FRS 102 Section 18 are met. Development costs are capitalized at cost and carried at cost less accumulated amortization and impairment. Amortization is charged on a straight-line basis over the estimated useful economic life of the asset, commencing when the asset is available for use. Assets not yet in use are subject to annual impairment review.
During the preparation of the financial statements for the year ended 31st August 2025, the directors identified that consultancy fees totaling £39,047, incurred in connection with the development of an internally generated software system, had been incorrectly expensed through the profit and loss account in the prior year ended 31st August 2024.
In accordance with FRS 102 Section 18 (Intangible Assets other than Goodwill), expenditure incurred during the development phase of an intangible asset must be recognised as an intangible asset where the Company can demonstrate all of the following:
(a) The technical feasibility of completing the intangible asset so that it will be available for use;
(b) Its intention to complete the asset and use it;
(c) The ability to use the intangible asset;
(d) How the asset will generate probable future economic benefits;
(e) The availability of adequate resources to complete the development; and
(f) Its ability to reliably measure the expenditure attributable to the asset during development.
The Company has confirmed that all of the above criteria were satisfied in respect of the consultancy fees of £39,047. Accordingly, these costs should have been capitalised as an intangible fixed asset — software under development — rather than expensed to the profit and loss account in the year ended 31 August 2024.
As the software asset was not available for use as of 31 August 2024, no amortisation has been charged in the prior year or in the current year. Amortisation will commence from the date the asset is brought into use, over its estimated useful economic life, in accordance with the Company's accounting policy for intangible assets.
Vittal Pharma Ltd
Notes to the Accounts
for the year ended 31 August 2025
4
Intangible fixed assets
Other
At 1 September 2024
39,048
5
Tangible fixed assets
Plant & machinery
At 1 September 2024
30,374
Amounts falling due within one year
Amounts due from group undertakings etc.
-
9,000
Vittal Pharma Ltd
Notes to the Accounts
for the year ended 31 August 2025
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
8,021
8,539
Amounts owed to group undertakings and other participating interests
121,445
93,115
Taxes and social security
744
2,281
Loans from directors
171,804
95,897
8
Average number of employees
During the year the average number of employees was 4 (2024: 1).