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Financial Statements |
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for the Year Ended 30 September 2019 |
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for |
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Four Pharmaceuticals Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 September 2019 |
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for |
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Four Pharmaceuticals Limited |
Four Pharmaceuticals Limited (Registered number: 03430250) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Four Pharmaceuticals Limited |
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Company Information |
for the Year Ended 30 September 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
1st Floor Bridge House |
25 Fiddlebridge Lane |
Hatfield |
Hertfordshire |
AL10 0SP |
Four Pharmaceuticals Limited (Registered number: 03430250) |
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Balance Sheet |
30 September 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
and were signed on its behalf by: |
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Four Pharmaceuticals Limited (Registered number: 03430250) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Four Pharmaceuticals Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have a reasonable expectation that the company will continue to operate for the |
foreseeable future and so these financial statements are again prepared on the going concern basis. |
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Turnover |
Turnover is derived from pharmaceutical consultancy services and is recognised by reference to the |
stage of completion of the service, exclusive of discounts, rebates and Vat. Other operating income |
represents rental income received from letting the company's two residential properties and is |
recognised as rents fall due. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year-end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Four Pharmaceuticals Limited (Registered number: 03430250) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Investment properties |
Investment property is included at fair value. Any surplus or deficit arising from changes in fair value is |
recognised in the Income Statement. |
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The fair value gains or losses do not represent distributable profits and so they are credited to a |
separate fair value reserve. |
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Depreciation is not provided on the investment properties, which is a departure from the Companies |
Act 2006. In the opinion of the directors, the properties are primarily investments and so their current |
value is of more significance than any measure of consumption; consequently, they believe that any |
depreciation charge would distort the true and fair view presented by the accounts and therefore the |
accounts do not include a depreciation charge in respect of these properties. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes |
party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to |
settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets, which include debtors, are initially measured at transaction price, including |
transaction costs, and are subsequently carried at amortised cost using the effective interest method |
unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at a market rate of interest. Financial assets classified |
as receivable within one year are not amortised. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
and 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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Four Pharmaceuticals Limited (Registered number: 03430250) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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8. | RELATED PARTY DISCLOSURES |
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During the year, the company borrowed £200 (2018: £200) from the directors. |
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At the balance sheet date, the company owed £26,872 (2018: £26,672) to the directors. No terms |
have been laid down as to repayment of capital or payment of interest on this loan. |