REGISTERED NUMBER: 07176858 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RD HILL (CHEMIST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R D Hill

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

REGISTERED NUMBER:

07176858 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

National Westminster Bank PLC

Mexborough Branch

Bank Street

Mexborough

South Yorkshire

S64 9QE

FIXED ASSETS

Intangible assets

4

-

100,719

Tangible assets

5

95,487

62,686

95,487

163,405

CURRENT ASSETS

Stocks

6

79,718

71,454

Debtors

7

661,994

546,811

Cash at bank and in hand

555,695

618,007

1,297,407

1,236,272

CREDITORS

Amounts falling due within one year

8

427,285

369,161

NET CURRENT ASSETS

870,122

867,111

TOTAL ASSETS LESS CURRENT LIABILITIES

965,609

1,030,516

PROVISIONS FOR LIABILITIES

4,967

2,905

NET ASSETS

960,642

1,027,611

CAPITAL AND RESERVES

Called up share capital

9

105

105

Retained earnings

960,537

1,027,506

SHAREHOLDERS' FUNDS

960,642

1,027,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 for issue by the director and authorised for issue on 2 October 2023 and were signed by:

Mr R D Hill - Director

1.	STATUTORY INFORMATION

RD Hill (Chemist) 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of medications is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.

Goodwill, being the amount generated on incorporation of the sole trader business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold property improvements

- 25% on cost

Fixtures and fittings

- 10% reducing balance

Motor vehicles

- 25% reducing balance

Computer equipment

- 33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

1,007,189

AMORTISATION

At 1 April 2022

906,470

Charge for year

100,719

At 31 March 2023

1,007,189

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

100,719

5.	TANGIBLE FIXED ASSETS

Leasehold

Fixtures

property

and

Motor

Computer

improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

76,890

24,870

24,260

4,192

130,212

Additions

42,929

5,963

-

9,503

58,395

At 31 March 2023

119,819

30,833

24,260

13,695

188,607

DEPRECIATION

At 1 April 2022

29,494

13,362

21,790

2,880

67,526

Charge for year

20,981

1,613

617

2,383

25,594

At 31 March 2023

50,475

14,975

22,407

5,263

93,120

NET BOOK VALUE

At 31 March 2023

69,344

15,858

1,853

8,432

95,487

At 31 March 2022

47,396

11,508

2,470

1,312

62,686

6.

STOCKS

31.3.23

31.3.22

£

£

Stocks

79,718

71,454

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

222,041

169,380

Other debtors

384,199

354,199

VAT

53,527

20,189

Prepayments and accrued income

2,227

3,043

661,994

546,811

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

183,445

159,821

Corporation tax

15,127

58,066

Social security and other taxes

5,275

3,411

Other creditors

980

1,119

Directors' current accounts

218,431

142,931

Accruals and deferred income

4,027

3,813

427,285

369,161

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

51

A Ordinary

£1

51

51

49

B Ordinary

£1

49

49

5

C Ordinary

£1

5

5

105

105