REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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ALCHEMY PHARMACEUTICALS LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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FOR |
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ALCHEMY PHARMACEUTICALS LTD |
ALCHEMY PHARMACEUTICALS LTD (REGISTERED NUMBER: 07127958) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 28 February 2022 |
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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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ALCHEMY PHARMACEUTICALS LTD |
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COMPANY INFORMATION |
for the year ended 28 February 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
ALCHEMY PHARMACEUTICALS LTD (REGISTERED NUMBER: 07127958) |
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BALANCE SHEET |
28 February 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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ALCHEMY PHARMACEUTICALS LTD (REGISTERED NUMBER: 07127958) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Alchemy Pharmaceuticals Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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The policies adopted for the recognition of turnover are as follows:- |
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NHS Income |
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NHS income is recognised in line with statements FP34. Adjustments are made for any income earned but not yet received. |
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Over the counter (OTC) sales |
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OTC sales are recorded as per till records and are therefore recognised at point of sale. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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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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ALCHEMY PHARMACEUTICALS LTD (REGISTERED NUMBER: 07127958) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 February 2022 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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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 |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2021 |
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Additions |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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ALCHEMY PHARMACEUTICALS LTD (REGISTERED NUMBER: 07127958) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 February 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary Shares | £1 | 100 | 100 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was qualified on the following basis: |
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Basis for Qualified Opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Due to the nature and timing of the auditors' work, the timing of the auditors' appointment is such that the auditor is unable to obtain independent inventory confirmation at 28th February 2020. We were unable to obtain sufficient audit evidence about the existence of physical inventories as at 28th February 2020. Consequently, we were unable to determine whether any adjustments to the value of inventories were necessary. |
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for and on behalf of
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