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Unaudited Financial Statements |
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For The Year Ended 31 December 2020 |
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ARISE PHARMA LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 December 2020 |
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for |
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ARISE PHARMA LTD |
ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ARISE PHARMA LTD |
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Company Information |
For The Year Ended 31 December 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Accountants & Tax Advisers |
79 College Road |
Harrow |
Middlesex |
HA1 1BD |
ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Balance Sheet |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Balance Sheet - continued |
31 December 2020 |
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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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ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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ARISE PHARMA LTD is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | FIXED ASSET INVESTMENTS |
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31.12.20 | 31.12.19 |
£ | £ |
Participating interests |
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Loans to undertakings in which the company
has a participating interest |
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Additional information is as follows: |
Interest |
in |
associate |
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COST |
At 1 January 2020 |
and 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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Loans to |
associates |
£ |
At 1 January 2020 |
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New in year | ( |
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At 31 December 2020 |
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ARISE PHARMA LTD (REGISTERED NUMBER: 08629933) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2020 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The company currently holds 18,000 Ordinary shares of £1 each, representing an 18% Investment in the company Liqmeds Limited and 110 Ordinary shares of £1 each, representing a 22% Investment in the company Ace Laboratories Limited. |
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The loans to Associates relates to loans to Ace Laboratories Ltd. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade debtors |
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Other debtors |
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Other Debtors balance includes £216,183 loan to LM Manufacturing Ltd, £3,959 expenses paid on behalf of LM Manufacturing Ltd, £67,500 loan to JAJ Pharma Ltd and £10,000 loan to Liqmeds Limited. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Taxation and social security |
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Other creditors |
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Included in Other Creditors is an amount of £44,365 being loan from company Wave Pharma Ltd, £253,440 Director's Current Account credit balance for Mr V B Soni and £17,752 Director's Current Account credit balance for Mrs M Jani. |
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Bank loans (see note 9) |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.12.20 | 31.12.19 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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The company received a government backed bounce back loan for £50,000 on 17th August 2020. |