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REGISTERED NUMBER: SC158396 (Scotland)












GAJREE PHARMACY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAJREE PHARMACY LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTOR: Mr P K Gajree





REGISTERED OFFICE: 1/1 12 Jenny Lind Court
Glasgow
G46 8QH





REGISTERED NUMBER: SC158396 (Scotland)





ACCOUNTANTS: Nicolson Accountancy
Trinity House
31 Lynedoch Street
Glasgow
G3 6EF

GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)

BALANCE SHEET
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,500 60,000
Investment property 5 1,850,000 1,746,306
1,902,500 1,806,306

CURRENT ASSETS
Debtors 6 601,030 601,030
Investments 7 - 45,633
Cash at bank 414,036 395,229
1,015,066 1,041,892
CREDITORS
Amounts falling due within one year 8 162,465 181,097
NET CURRENT ASSETS 852,601 860,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,755,101

2,667,101

CREDITORS
Amounts falling due after more than one
year

9

(793,513

)

(766,073

)

PROVISIONS FOR LIABILITIES (19,702 ) -
NET ASSETS 1,941,886 1,901,028

CAPITAL AND RESERVES
Called up share capital 301,000 301,000
Retained earnings 11 1,640,886 1,600,028
SHAREHOLDERS' FUNDS 1,941,886 1,901,028

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

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

GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)

BALANCE SHEET - continued
31 July 2023


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 25 October 2023 and were signed by:





Mr P K Gajree - Director


GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

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

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

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.

Revenue recognition policy
The company principal income is generated from rental income from its portfolio of investment properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2022
and 31 July 2023 75,000
DEPRECIATION
At 1 August 2022 15,000
Charge for year 7,500
At 31 July 2023 22,500
NET BOOK VALUE
At 31 July 2023 52,500
At 31 July 2022 60,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 1,746,306
Revaluations 103,694
At 31 July 2023 1,850,000
NET BOOK VALUE
At 31 July 2023 1,850,000
At 31 July 2022 1,746,306

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 1,746,306
Valuation in 2023 103,694
1,850,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 601,030 601,030

7. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Shares in group undertakings - 45,633

GAJREE PHARMACY LIMITED (REGISTERED NUMBER: SC158396)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts - 27,927
Taxation and social security 161,765 152,470
Other creditors 700 700
162,465 181,097

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 793,513 766,073

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 793,513 654,364

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 793,513 794,000

11. RESERVES
Retained
earnings
£   

At 1 August 2022 1,600,028
Profit for the year 55,858
Dividends (15,000 )
At 31 July 2023 1,640,886