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REGISTERED NUMBER: 06664196 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

PHARMACY SERVICES GROUP LIMITED

PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PHARMACY SERVICES GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTOR: Mr N Somani





REGISTERED OFFICE: 109 Coleman Road
Leicester
Leicester
LE5 4LE





REGISTERED NUMBER: 06664196 (England and Wales)





ACCOUNTANTS: Watergates Ltd
109 Coleman Road
Leicester
LE5 4LE

PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2022

31/12/22 31/12/21
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 37,500
Tangible assets 5 174,512 171,995
174,512 209,495

CURRENT ASSETS
Stocks 45,000 45,370
Debtors 6 162,257 152,749
Cash at bank and in hand 575,809 352,043
783,066 550,162
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

(341,565

)

(320,422

)
NET CURRENT ASSETS 441,501 229,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

616,013

439,235

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(100,161

)

(50,993

)

PROVISIONS FOR LIABILITIES (30,975 ) (28,133 )
NET ASSETS 484,877 360,109

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 483,877 359,109
SHAREHOLDERS' FUNDS 484,877 360,109

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th September 2023 and were signed by:





Mr N Somani - Director


PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022


1. STATUTORY INFORMATION

Pharmacy Services Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold property - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.


PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

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.

CREDITORS
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially are fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2022
and 31st December 2022 518,807
AMORTISATION
At 1st January 2022 481,307
Amortisation for year 37,500
At 31st December 2022 518,807
NET BOOK VALUE
At 31st December 2022 -
At 31st December 2021 37,500

PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2022 118,436 182,911 3,500 304,847
Additions 10,303 24,701 - 35,004
At 31st December 2022 128,739 207,612 3,500 339,851
DEPRECIATION
At 1st January 2022 43,060 88,498 1,294 132,852
Charge for year 11,174 20,761 552 32,487
At 31st December 2022 54,234 109,259 1,846 165,339
NET BOOK VALUE
At 31st December 2022 74,505 98,353 1,654 174,512
At 31st December 2021 75,376 94,413 2,206 171,995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade debtors 129,446 130,441
Amounts owed by participating interests 3,442 -
Other debtors - 3,015
VAT 24,096 14,895
Prepayments and accrued income 5,273 4,398
162,257 152,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade creditors 191,437 226,747
Corporation tax 40,124 20,250
Social security and other taxes 29,097 4,291
Other creditors 24,482 12,419
Accruals and deferred income 56,425 56,715
341,565 320,422

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/22 31/12/21
£    £   
Other creditors 100,161 50,993

PHARMACY SERVICES GROUP LIMITED (REGISTERED NUMBER: 06664196)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/12/22 31/12/21
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors £100,161 (2021: £50,993).

The loan is interest free and there is no fixed date for repayment.