Company Registration No. 09328114 (England and Wales)
AFDOS PHARMACEUTICALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
AFDOS PHARMACEUTICALS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AFDOS PHARMACEUTICALS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,024
Current assets
Debtors
4
210,317
181,275
Cash at bank and in hand
102,741
18,389
313,058
199,664
Creditors: amounts falling due within one year
5
(12,524)
(4,619)
Net current assets
300,534
195,045
Total assets less current liabilities
300,534
196,069
Creditors: amounts falling due after more than one year
6
(173,280)
(56,520)
Net assets
127,254
139,549
Capital and reserves
Called up share capital
7
300
300
Profit and loss reserves
126,954
139,249
Total equity
127,254
139,549
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
AFDOS PHARMACEUTICALS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 31 August 2022
Mr P Hulett
Director
Company Registration No. 09328114
AFDOS PHARMACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Afdos Pharmaceuticals Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
6 Maida Vale Business Centre, Mead Road, Cheltenham, Gloucestershire, GL53 7ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
goods and
services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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.
AFDOS PHARMACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
2,027
Disposals
(2,027)
At 31 December 2021
Depreciation and impairment
At 1 January 2021
1,003
Depreciation charged in the year
201
Eliminated in respect of disposals
(1,204)
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020
1,024
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
5,317
1,275
AFDOS PHARMACEUTICALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
4
Debtors
(Continued)
- 5 -
2021
2020
Amounts falling due after more than one year:
£
£
Other debtors
205,000
180,000
Total debtors
210,317
181,275
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
551
1,290
Other creditors
11,973
3,329
12,524
4,619
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
35,000
50,000
Other creditors
138,280
6,520
173,280
56,520
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
300 Ordinary shares of £1 each
300
300
8
Related party transactions
At the year end, the company owed a director £5,280 (2020: £6,520). No interest has been charged on this amount and there is no fixed date for repayment other than it is not due within one year.
At the year end, the company owed a shareholder £133,000 (2020: £nil). No interest has been charged on this amount and there is no fixed date for repayment other than it is not due within one year.