REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2022 |
for |
WebRx Pharma Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2022 |
for |
WebRx Pharma Ltd |
WebRx Pharma Ltd (Registered number: 12822135) |
Contents of the Financial Statements |
for the Year Ended 31 August 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WebRx Pharma Ltd |
Company Information |
for the Year Ended 31 August 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
19-21 Manor Road |
Caddington |
Bedfordshire |
LU1 4EE |
WebRx Pharma Ltd (Registered number: 12822135) |
Balance Sheet |
31 August 2022 |
31.8.22 | 31.8.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | 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. |
WebRx Pharma Ltd (Registered number: 12822135) |
Balance Sheet - continued |
31 August 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WebRx Pharma Ltd (Registered number: 12822135) |
Notes to the Financial Statements |
for the Year Ended 31 August 2022 |
1. | STATUTORY INFORMATION |
WebRx Pharma Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently amortised cost using the effective interest method. |
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the un-discounted amount of the cash or other consideration to be paid or received . However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability market rate of interest for similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a Director in the case of a small Company, or public benefit entity of concessionary loan. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence and impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Statement of Comprehensive Income. |
Creditors |
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Debtors |
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
WebRx Pharma Ltd (Registered number: 12822135) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2021 |
Additions |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
5. | STOCKS |
31.8.22 | 31.8.21 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Trade debtors |
VAT |
Called up share capital not paid |
Prepayments |
7. | CASH AT BANK |
31.8.22 | 31.8.21 |
£ | £ |
Bank account no. 1 | 72,728 | 9,062 |
WebRx Pharma Ltd (Registered number: 12822135) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Other loans (see note 10) |
Trade creditors |
Social security and other taxes |
Other creditors |
Wages payable | 1,884 | - |
Directors' current accounts | 140,000 | - |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Other loans (see note 10) |
10. | LOANS |
An analysis of the maturity of loans is given below: |
31.8.22 | 31.8.21 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
Amounts falling due between one and two years: |
Other loans - 1-2 years | 25,000 |
11. | RELATED PARTY DISCLOSURES |
As at the year-end, WebRx Pharma Ltd owed balances of £35,000 (2021:£110,134) to Optimale Ltd. These are due to be paid back over the next three years. At the year-end, Mr. D. Kennett was a Director and Shareholder of both Company's. Mr. D. Kennett resigned as a Director of Optimale Ltd on 3 September 2022. |
During the year, Pharmsolutions Ltd invoiced WebRx Pharma Ltd for services totalling £36,649. Mr. T. Amin is a Director and Shareholder of both Company's. |
During the year, Kennett Enterprises Limited invoiced WebRx Pharma Ltd for services totalling £18,000. Mr. D. Kennett is a Director and Shareholder of both Company's. |