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REGISTERED NUMBER: SC239002 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

THE PARK ROAD PHARMACY LIMITED

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE PARK ROAD PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: V S Jandoo





SECRETARY: S K Jandoo





REGISTERED OFFICE: 405 Great Western Road
Glasgow
G4 9HY





REGISTERED NUMBER: SC239002 (Scotland)





ACCOUNTANTS: Bannerman Johnstone Maclay
Chartered Accountants
213 St Vincent Street
Glasgow
G2 5QY

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 250,465 292,606
Investments 6 852,699 779,684
Investment property 7 325,960 325,960
1,429,124 1,398,250

CURRENT ASSETS
Stocks 228,455 268,109
Debtors 8 1,389,169 1,220,206
Cash at bank and in hand 2,087,800 1,389,277
3,705,424 2,877,592
CREDITORS
Amounts falling due within one year 9 1,040,972 832,926
NET CURRENT ASSETS 2,664,452 2,044,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,093,576

3,442,916

CREDITORS
Amounts falling due after more than one
year

10

(875

)

(1,969

)

PROVISIONS FOR LIABILITIES (14,119 ) (18,249 )
NET ASSETS 4,078,582 3,422,698

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 21,172 21,172
Retained earnings 4,056,410 3,400,526
SHAREHOLDERS' FUNDS 4,078,582 3,422,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

BALANCE SHEET - continued
28 FEBRUARY 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 26 October 2023 and were signed by:





V S Jandoo - Director


THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

The Park Road 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.

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 2002, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on cost, 10% on cost and 10% on reducing balance

Where zero depreciation of freehold buildings is appropriate

Freehold buildings are depreciated to write down the cost less estimated residual value over their remaining useful life by equal annual instalments. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not material.

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.

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

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including certain creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 25 (2022 - 18 ) .

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 400,000
AMORTISATION
At 1 March 2022
and 28 February 2023 400,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 March 2022 75,000 382,837 17,481
Additions - - 7,360
At 28 February 2023 75,000 382,837 24,841
DEPRECIATION
At 1 March 2022 - 236,491 12,582
Charge for year - 28,460 1,283
At 28 February 2023 - 264,951 13,865
NET BOOK VALUE
At 28 February 2023 75,000 117,886 10,976
At 28 February 2022 75,000 146,346 4,899

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 105,278 110,088 690,684
Additions - - 7,360
At 28 February 2023 105,278 110,088 698,044
DEPRECIATION
At 1 March 2022 46,059 102,946 398,078
Charge for year 14,805 4,953 49,501
At 28 February 2023 60,864 107,899 447,579
NET BOOK VALUE
At 28 February 2023 44,414 2,189 250,465
At 28 February 2022 59,219 7,142 292,606

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2022 779,684
Additions 254,259
Disposals (156,566 )
Revaluations (24,678 )
At 28 February 2023 852,699
NET BOOK VALUE
At 28 February 2023 852,699
At 28 February 2022 779,684

Cost or valuation at 28 February 2023 is represented by:

Other
investments
£   
Valuation in 2023 (24,678 )
Cost 877,377
852,699

THE PARK ROAD PHARMACY LIMITED (REGISTERED NUMBER: SC239002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. INVESTMENT PROPERTY
Total
£   
COST
At 1 March 2022
and 28 February 2023 325,960
NET BOOK VALUE
At 28 February 2023 325,960
At 28 February 2022 325,960

Investment property was valued on an open market basis on 28 February 2023 by the director.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 340,545 393,054
Amounts owed by related companies 634,047 647,157
Other debtors 414,577 179,995
1,389,169 1,220,206

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 2,083
Trade creditors 810,750 613,347
Taxation and social security 211,003 198,496
Other creditors 19,219 19,000
1,040,972 832,926

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 875 1,969