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No description of principal activity
2016-02-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
08441767
2016-02-01
2017-01-31
08441767
2017-01-31
08441767
2015-02-01
2016-01-31
08441767
2016-01-31
08441767
bus:RegisteredOffice
2016-02-01
2017-01-31
08441767
bus:OrdinaryShareClass1
2016-02-01
2017-01-31
08441767
bus:LeadAgentIfApplicable
2016-02-01
2017-01-31
08441767
bus:Director1
2016-02-01
2017-01-31
08441767
bus:Director2
2016-02-01
2017-01-31
08441767
bus:CompanySecretary1
2016-02-01
2017-01-31
08441767
core:RetainedEarningsAccumulatedLosses
2015-02-01
2016-01-31
08441767
core:ShareCapital
2016-02-01
2017-01-31
08441767
core:RetainedEarningsAccumulatedLosses
2016-02-01
2017-01-31
08441767
core:WithinOneYear
2017-01-31
08441767
core:WithinOneYear
2016-01-31
08441767
core:AfterOneYear
2017-01-31
08441767
core:AfterOneYear
2016-01-31
08441767
bus:OrdinaryShareClass1
2015-02-01
2016-01-31
08441767
core:ShareCapital
2017-01-31
08441767
core:ShareCapital
2016-01-31
08441767
core:RetainedEarningsAccumulatedLosses
2017-01-31
08441767
core:RetainedEarningsAccumulatedLosses
2016-01-31
08441767
core:ShareCapital
2015-01-31
08441767
core:RetainedEarningsAccumulatedLosses
2015-01-31
08441767
core:RestatedAmount
2015-01-31
08441767
core:RestatedAmount
2016-01-31
08441767
core:CostValuation
core:Non-currentFinancialInstruments
2016-01-31
08441767
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2017-01-31
08441767
core:CostValuation
core:Non-currentFinancialInstruments
2017-01-31
08441767
core:Non-currentFinancialInstruments
2017-01-31
08441767
core:Non-currentFinancialInstruments
2016-01-31
08441767
bus:FRS102
2016-02-01
2017-01-31
08441767
bus:AuditExemptWithAccountantsReport
2016-02-01
2017-01-31
08441767
bus:AbridgedAccounts
2016-02-01
2017-01-31
08441767
bus:SmallCompaniesRegimeForAccounts
2016-02-01
2017-01-31
08441767
bus:PrivateLimitedCompanyLtd
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2017-01-31
08441767
bus:OrdinaryShareClass1
2017-01-31
08441767
bus:OrdinaryShareClass1
2016-01-31
08441767
1
2016-02-01
2017-01-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of BASPHARM LIMITED have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
08441767
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 31 January 2017
Officers and professional advisers
|
1
|
|
|
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
|
2
|
|
|
Abridged statement of financial position
|
3
|
|
|
Statement of changes in equity
|
5
|
|
|
Notes to the abridged financial statements
|
6
|
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Mr S. S. Basra
|
|
Mrs S. K. Basra
|
|
|
Company secretary
|
Mrs S. K. Basra
|
|
|
Registered office
|
111a George Lane
|
|
London
|
|
UK
|
|
E18 1AN
|
|
|
Accountants
|
OMG
|
|
Chartered Certified Accountants
|
|
111a, George Lane
|
|
London
|
|
E18 1AN
|
|
|
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
BASPHARM LIMITED
|
|
Year ended 31 January 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of BASPHARM LIMITED for the year ended 31 January 2017, which comprise the abridged statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of BASPHARM LIMITED, as a body, in accordance with the terms of our engagement letter dated 12 March 2013. Our work has been undertaken solely to prepare for your approval the abridged financial statements of BASPHARM LIMITED and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BASPHARM LIMITED and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that BASPHARM LIMITED has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BASPHARM LIMITED. You consider that BASPHARM LIMITED is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of BASPHARM LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
OMG
Chartered Certified Accountants
111a, George Lane
London
E18 1AN
10 October 2017
Abridged Statement of Financial Position
|
|
31 January 2017
Fixed assets
Investments
|
5
|
|
812,713
|
812,380
|
|
|
|
|
|
Current assets
Debtors
|
142,130
|
|
222,895
|
Cash at bank and in hand
|
8,490
|
|
151
|
|
---------
|
|
---------
|
|
150,620
|
|
223,046
|
|
|
|
|
Creditors: amounts falling due within one year
|
90,032
|
|
90,572
|
|
---------
|
|
---------
|
Net current assets
|
|
60,588
|
132,474
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
873,301
|
944,854
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
742,758
|
805,419
|
|
|
---------
|
---------
|
Net assets
|
|
130,543
|
139,435
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
6
|
|
1,000
|
100
|
Profit and loss account
|
|
129,543
|
139,335
|
|
|
---------
|
---------
|
Members funds
|
|
130,543
|
139,435
|
|
|
---------
|
---------
|
|
|
|
|
|
These abridged 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 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 abridged statement of comprehensive income has not been delivered.
For the year ending 31 January 2017 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 abridged 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 abridged financial statements
.
Abridged Statement of Financial Position (continued)
|
|
31 January 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
10 October 2017
, and are signed on behalf of the board by:
Company registration number:
08441767
Statement of Changes in Equity
|
|
Year ended 31 January 2017
|
Called up share capital
|
Profit and loss account
|
Total
|
Note
|
£
|
£
|
£
|
At 1 February 2015
|
100
|
140,263
|
140,363
|
|
|
|
|
Profit for the year
|
|
63,072
|
63,072
|
|
----
|
---------
|
---------
|
Total comprehensive income for the year
|
–
|
63,072
|
63,072
|
|
|
|
|
Dividends paid and payable
|
4
|
–
|
(
64,000)
|
(
64,000)
|
|
----
|
---------
|
---------
|
Total investments by and distributions to owners
|
–
|
(
64,000)
|
(
64,000)
|
|
|
|
|
At 31 January 2016
|
100
|
139,335
|
139,435
|
|
|
|
|
Profit for the year
|
|
76,208
|
76,208
|
|
----
|
---------
|
---------
|
Total comprehensive income for the year
|
–
|
76,208
|
76,208
|
|
|
|
|
Issue of shares
|
900
|
–
|
900
|
Dividends paid and payable
|
4
|
–
|
(
86,000)
|
(
86,000)
|
|
----
|
--------
|
--------
|
Total investments by and distributions to owners
|
900
|
(
86,000)
|
(
85,100)
|
|
|
|
|
|
-------
|
---------
|
---------
|
At 31 January 2017
|
1,000
|
129,543
|
130,543
|
|
-------
|
---------
|
---------
|
|
|
|
|
|
Notes to the Abridged Financial Statements
|
|
Year ended 31 January 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 111a George Lane, London, E18 1AN, UK.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
As a result of their assessment the directors have concluded that there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.The accounts have therefore been prepared on a going concern basis and assume the continuation of the financial support of the directors.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
The turnover shown in the profit or loss account represents dividend income receivable during the year from its subsidiary, Clinichem Ltd.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
|
2017
|
2016
|
|
£
|
£
|
Dividends on equity shares
|
86,000
|
64,000
|
|
--------
|
--------
|
|
|
|
5.
Investments
|
£
|
Cost
|
|
At 1 February 2016
|
812,380
|
Additions
|
333
|
|
---------
|
At 31 January 2017
|
812,713
|
|
---------
|
Impairment
|
|
At 1 February 2016 and 31 January 2017
|
–
|
|
---------
|
Carrying amount
|
|
At 31 January 2017
|
812,713
|
|
---------
|
At 31 January 2016
|
812,380
|
|
---------
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2017
|
2016
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
1,000
|
1,000
|
100
|
100
|
|
-------
|
-------
|
----
|
----
|
|
|
|
|
|
7.
Related party transactions
The company's turnover comprises entirely from dividends paid by its wholly owned subsidiary Clinichem Ltd. Baspharm Limited is the ultimate controlling party of Clinichem Ltd.
8.
Controlling party
The company was under the control of
Mr S S Basra
, the managing director, thoughout the current and previous year.
9.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the year.