Alpharm Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05435268

Alpharm Limited

Filleted Unaudited Financial Statements

30 April 2020

Alpharm Limited

Statement of Financial Position

30 April 2020

	2020	2019
Note	£	£

Fixed assets

Intangible assets	5	660,000	660,000
Tangible assets	6	8,160	7,610
		---------	---------
		668,160	667,610

Current assets

Stocks		30,794	30,547
Debtors	7	75,310	68,445
Cash at bank and in hand		97,702	46,922
		---------	---------
		203,806	145,914

Creditors: amounts falling due within one year	8	317,646	259,497
		---------	---------
Net current liabilities		113,840	113,583
		---------	---------
Total assets less current liabilities		554,320	554,027

Provisions

Taxation including deferred tax	1,111	910
	---------	---------
Net assets	553,209	553,117
	---------	---------

Alpharm Limited

Statement of Financial Position (continued)

30 April 2020

	2020	2019
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	553,109	553,017
	---------	---------
Shareholders funds	553,209	553,117
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 1 February 2021 , and are signed on behalf of the board by:

Mr S Lal
Director

Company registration number: 05435268

Alpharm Limited

Notes to the Financial Statements

Year ended 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 468 Stafford Road, Oxley, Wolverhampton, West Midlands, WV10 6AN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	10% reducing balance
Motor Vehicles	-	20% reducing balance
Office Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2019: 9 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2019 and 30 April 2020	660,000
	---------
Amortisation
At 1 May 2019 and 30 April 2020	–
	---------
Carrying amount
At 30 April 2020	660,000
	---------
At 30 April 2019	660,000
	---------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 May 2019	13,549	5,490	5,185	24,224
Additions	1,832	–	–	1,832
	---------	---------	---------	---------
At 30 April 2020	15,381	5,490	5,185	26,056
	---------	---------	---------	---------
Depreciation
At 1 May 2019	9,057	2,913	4,644	16,614
Charge for the year	632	515	135	1,282
	---------	---------	---------	---------
At 30 April 2020	9,689	3,428	4,779	17,896
	---------	---------	---------	---------
Carrying amount
At 30 April 2020	5,692	2,062	406	8,160
	---------	---------	---------	---------
At 30 April 2019	4,492	2,577	541	7,610
	---------	---------	---------	---------

7. Debtors

	2020	2019
	£	£
Trade debtors	61,813	56,790
Prepayments and accrued income	4,306	2,654
Other debtors	9,191	9,001
	---------	---------
	75,310	68,445
	---------	---------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	159,667	120,712
Accruals and deferred income	4,240	8,183
Corporation tax	23,277	17,985
Social security and other taxes	545	–
Director loan accounts	113,311	112,519
NHS loan	16,535	–
Other creditors	71	98
	---------	---------
	317,646	259,497
	---------	---------

9. Directors' advances, credits and guarantees

At the end of the financial year the company owed the directors £113,311 (2019 £112,519).

10. Related party transactions

The company trades from premises owned by the directors. No rent was paid during the year (2019 £Nil).