31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
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2022-04-01
2023-03-31
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04113581
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2022-03-31
04113581
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2022-03-31
04113581
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2023-03-31
04113581
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
04113581
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2022-03-31
04113581
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2022-03-31
04113581
core:MotorVehicles
2022-03-31
04113581
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core:OwnedOrFreeholdAssets
2023-03-31
04113581
core:PlantMachinery
2023-03-31
04113581
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2023-03-31
04113581
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2023-03-31
04113581
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04113581
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2022-03-31
04113581
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04113581
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04113581
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04113581
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04113581
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core:ShareCapital
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04113581
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core:ShareCapital
2022-03-31
04113581
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2022-03-31
04113581
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2023-03-31
04113581
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2023-03-31
04113581
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2022-03-31
04113581
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2022-04-01
2023-03-31
04113581
core:IntangibleAssetsOtherThanGoodwill
2022-04-01
2023-03-31
04113581
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-01
2023-03-31
04113581
core:LandBuildings
core:ShortLeaseholdAssets
2022-04-01
2023-03-31
04113581
core:PlantMachinery
2022-04-01
2023-03-31
04113581
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
04113581
core:MotorVehicles
2022-04-01
2023-03-31
04113581
core:IntangibleAssetsOtherThanGoodwill
2022-03-31
04113581
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2023-03-31
04113581
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2022-03-31
04113581
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core:OwnedOrFreeholdAssets
2022-03-31
04113581
core:LandBuildings
core:ShortLeaseholdAssets
2022-03-31
04113581
core:FurnitureFittingsToolsEquipment
2022-03-31
04113581
core:MotorVehicles
2022-03-31
04113581
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2022-03-31
04113581
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2023-03-31
04113581
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04113581
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2023-03-31
04113581
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2023-03-31
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2023-03-31
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2022-04-01
2023-03-31
Company registration number:
04113581
Cadila Pharmaceuticals (UK) Limited
Filleted financial statements
31 March 2023
Cadila Pharmaceuticals (UK) Limited
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Cadila Pharmaceuticals (UK) Limited
Directors and other information
|
|
|
|
|
Directors |
Dr. R. I. Modi |
|
|
|
Mr Amitabha Banerjee |
|
|
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|
|
|
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|
|
|
Company number |
04113581 |
|
|
|
|
|
|
|
|
|
|
Registered office |
Amba House |
|
|
|
4th Floor, Kings Suite |
|
|
|
15 College Road |
|
|
|
Harrow, Middlesex |
|
|
|
HA1 1BA |
|
|
|
|
|
|
|
|
|
|
Auditor |
Nagle James Associates Limited |
|
|
|
Amba House, |
|
|
|
4th Floor, Kings Suite |
|
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|
15 College Road |
|
|
|
Harrow, Middlesex |
|
|
|
HA1 1BA |
|
|
|
|
|
Cadila Pharmaceuticals (UK) Limited
Directors responsibilities statement
Year ended 31 March 2023
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Cadila Pharmaceuticals (UK) Limited
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
5,703 |
|
|
|
25,096 |
|
|
Tangible assets |
|
6 |
4,511,317 |
|
|
|
3,804,786 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
4,517,020 |
|
|
|
3,829,882 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
533,818 |
|
|
|
210,602 |
|
|
Cash at bank and in hand |
|
|
376,692 |
|
|
|
119,804 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
910,510 |
|
|
|
330,406 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
2,718,838) |
|
|
|
(
1,372,895) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
1,808,328) |
|
|
|
(
1,042,489) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
2,708,692 |
|
|
|
2,787,393 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
1,044,968) |
|
|
|
(
629,180) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
10 |
|
|
(
134,921) |
|
|
|
(
29,315) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,528,803 |
|
|
|
2,128,898 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
12 |
|
|
3,360,986 |
|
|
|
2,960,986 |
Profit and loss account |
|
|
|
|
(
1,832,183) |
|
|
|
(
832,088) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,528,803 |
|
|
|
2,128,898 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 June 2023
, and are signed on behalf of the board by:
Dr. R. I. Modi
Director
Company registration number:
04113581
Cadila Pharmaceuticals (UK) Limited
Statement of changes in equity
Year ended 31 March 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2021 |
|
2,960,986 |
|
(
989,130) |
1,971,856 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
157,042 |
157,042 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
157,042 |
157,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 and 1 April 2022 |
|
2,960,986 |
|
(
832,088) |
2,128,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year |
|
|
|
(
1,000,095) |
(
1,000,095) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
(
1,000,095) |
(
1,000,095) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issue of shares |
|
400,000 |
|
|
400,000 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
400,000 |
|
- |
400,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
|
3,360,986 |
|
(
1,832,183) |
1,528,803 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Cadila Pharmaceuticals (UK) Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Amba House, 4th Floor, Kings Suite, 15 College Road, Harrow, Middlesex, HA1 1BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The amounts are rounded to the nearest whole number and no other rounding is used.
Going concern
The company's ultimate parent Cadila Pharmaceuticals Limited will continue to support the company for the foreseeable future. Accordingly, the board of directors considers that it is appropriate that the Company's financial statements are prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from for use of company's assets by others is recognised on the basis of contracts; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Research and development Expenses on research activities undertaken with the prospect of gaining new scientific or technical knowledge and understanding are recognised in the statement of profit and loss as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditures is capitalised only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, the assets are controlled by the Company and the Company intends to and has sufficient resources to complete development and to use or sell the asset. The expenditure capitalised includes the cost of materials and other costs directly attributable to preparing the asset for its intended use. Other development expenditure is recognised in the statement of profit and loss as incurred. Intangible assets relating to products under development, other intangible assets not available for use and intangible assets having indefinite useful life are subject to impairment testing at each reporting date. All other intangible assets are tested for impairment when there are indications that the carrying value may not be recoverable. Any impairment losses are recognised immediately in the statement of profit and loss.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Patent, Copyright and Licenses |
- |
Useful life of asset - 5-10 years
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
|
|
|
|
|
Land and buildings |
- |
Straight line over 50 years
|
|
Office equipment |
- |
Straight line over 3 - 5 years
|
|
Fixtures and fittings |
- |
Straight line over 10 years
|
|
Motor vehicles |
- |
Straight line over 8 years
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
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 in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
|
|
|
2023 |
2022 |
|
Management staff |
|
13 |
4 |
|
Administrative staff |
|
3 |
3 |
|
|
|
_______ |
_______ |
|
|
|
16 |
7 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
1,561,036 |
328,818 |
|
Social security costs |
|
140,131 |
47,557 |
|
Other pension costs |
|
11,266 |
3,618 |
|
|
|
_______ |
_______ |
|
|
|
1,712,433 |
379,993 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
193,927 |
193,927 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2022 |
168,831 |
168,831 |
|
|
|
|
|
Charge for the year |
19,393 |
19,393 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
188,224 |
188,224 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
5,703 |
5,703 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
25,096 |
25,096 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
CWIP |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Office equipment |
Total |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost or valuation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
3,162,450 |
733,019 |
- |
555,184 |
59,601 |
53,111 |
4,563,365 |
|
Additions |
566,201 |
- |
233,002 |
7,042 |
763,059 |
43,141 |
1,612,445 |
|
Revaluation |
- |
(
733,019) |
- |
- |
- |
- |
(
733,019) |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
At 31 March 2023 |
3,728,651 |
- |
233,002 |
562,226 |
822,660 |
96,252 |
5,442,791 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
271,581 |
- |
- |
415,537 |
52,992 |
18,469 |
758,579 |
|
Charge for the year |
62,400 |
- |
23,122 |
55,559 |
17,685 |
14,129 |
172,895 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
At 31 March 2023 |
333,981 |
- |
23,122 |
471,096 |
70,677 |
32,598 |
931,474 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
3,394,670 |
- |
209,880 |
91,130 |
751,983 |
63,654 |
4,511,317 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
At 31 March 2022 |
2,890,869 |
733,019 |
- |
139,647 |
6,609 |
34,642 |
3,804,786 |
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
340,752 |
56,289 |
|
Prepayments and accrued income |
|
19,855 |
19,364 |
|
Other debtors |
|
173,211 |
134,949 |
|
|
|
_______ |
_______ |
|
|
|
533,818 |
210,602 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
75,492 |
75,492 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
2,489,486 |
1,256,055 |
|
Accruals and deferred income |
|
9,500 |
33,465 |
|
Social security and other taxes |
|
136,919 |
- |
|
Other creditors |
|
7,441 |
7,883 |
|
|
|
_______ |
_______ |
|
|
|
2,718,838 |
1,372,895 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank overdraft facility is secured against the asset of the company.
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
1,044,968 |
629,180 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank overdraft facility is secured against the asset of the company.
10.
Provisions
|
|
Deferred tax (note 11) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 April 2022 |
29,316 |
29,316 |
|
|
|
|
Charges against provisions |
105,605 |
105,605 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 March 2023 |
134,921 |
134,921 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Included in provisions (note 10) |
|
134,921 |
29,315 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
134,921 |
29,315 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £ 1.00 each |
|
3,360,986 |
|
3,360,986 |
|
2,960,986 |
|
2,960,986 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
Share movements
|
|
|
No |
£ |
|
Ordinary shares : |
|
|
|
|
At 1 April 2022 |
|
2,960,986 |
2,960,986 |
|
Issue of shares |
|
400,000 |
- |
|
|
|
_______ |
_______ |
|
At 31 March 2023 |
|
3,360,986 |
3,360,986 |
|
|
|
_______ |
_______ |
|
|
|
|
|
13.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
17,342 |
17,342 |
Later than 1 year and not later than 5 years |
17,342 |
34,684 |
|
_______ |
_______ |
|
34,684 |
52,026 |
|
_______ |
_______ |
|
|
|
14.
Summary audit opinion
The auditor's report for the year dated
19 June 2023
was unqualified.
The senior statutory auditor was
Kaushik Nathwani
for and on behalf of
Nagle James Associates Limited
15.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Dr. R. I. Modi |
- |
131,702 |
131,702 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Dr. R. I. Modi |
- |
- |
- |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
16.
Ultimate parent undertaking
The company's ultimate parent at the balance sheet date was Cadila Pharmaceuticals Limited, incorporated in India and the immediate parent at the balance sheet date was Satellite Overseas Holdings Ltd (SOHL), incorporated in Isle of Man. The smallest group in which the results of the company are consolidated is that headed by Satellite Overseas Holdings Ltd (SOHL). The largest group in which the results of the company are consolidated is that headed by Cadila Pharmaceuticals Limited (India). The Consolidated group financial statements of Cadila Pharmaceuticals Limited for the year ended 31 March 2023 are publicly available from the company's corporate address at Cadila Corporate Campus, Sarkhej-Dholka road, Village-Bhat, Ahmedabad 382210, India.
17.
Guarantees and charges
The company has given Bank of Baroda (UK) Limited a fixed charge and negative pledge on the freehold property and fixtures and fittings.