Greencastle Pharmacy Ltd NI651704 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is pharmacy Digita Accounts Production Advanced 6.30.9574.0 true true NI651704 2022-04-01 2023-03-31 NI651704 2023-03-31 NI651704 bus:OrdinaryShareClass1 2023-03-31 NI651704 core:CurrentFinancialInstruments 2023-03-31 NI651704 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI651704 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI651704 core:Goodwill 2023-03-31 NI651704 core:FurnitureFittingsToolsEquipment 2023-03-31 NI651704 core:MotorVehicles 2023-03-31 NI651704 core:OtherPropertyPlantEquipment 2023-03-31 NI651704 bus:SmallEntities 2022-04-01 2023-03-31 NI651704 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI651704 bus:FullAccounts 2022-04-01 2023-03-31 NI651704 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI651704 bus:RegisteredOffice 2022-04-01 2023-03-31 NI651704 bus:Director3 2022-04-01 2023-03-31 NI651704 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 NI651704 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI651704 core:Goodwill 2022-04-01 2023-03-31 NI651704 core:FurnitureFittings 2022-04-01 2023-03-31 NI651704 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 NI651704 core:MotorVehicles 2022-04-01 2023-03-31 NI651704 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 NI651704 core:PlantMachinery 2022-04-01 2023-03-31 NI651704 countries:NorthernIreland 2022-04-01 2023-03-31 NI651704 2022-03-31 NI651704 core:Goodwill 2022-03-31 NI651704 core:FurnitureFittingsToolsEquipment 2022-03-31 NI651704 core:MotorVehicles 2022-03-31 NI651704 core:OtherPropertyPlantEquipment 2022-03-31 NI651704 2021-04-01 2022-03-31 NI651704 2022-03-31 NI651704 bus:OrdinaryShareClass1 2022-03-31 NI651704 core:CurrentFinancialInstruments 2022-03-31 NI651704 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI651704 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI651704 core:Goodwill 2022-03-31 NI651704 core:FurnitureFittingsToolsEquipment 2022-03-31 NI651704 core:MotorVehicles 2022-03-31 NI651704 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI651704

Greencastle Pharmacy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Greencastle Pharmacy Ltd

(Registration number: NI651704)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

309,250

339,942

Tangible assets

5

59,726

88,543

 

368,976

428,485

Current assets

 

Stocks

59,194

75,294

Debtors

6

121,091

140,168

Cash at bank and in hand

 

99,345

165,972

 

279,630

381,434

Creditors: Amounts falling due within one year

7

(214,365)

(209,092)

Net current assets

 

65,265

172,342

Total assets less current liabilities

 

434,241

600,827

Creditors: Amounts falling due after more than one year

7

(304,368)

(534,992)

Provisions for liabilities

(11,348)

(16,823)

Net assets

 

118,525

49,012

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

118,425

48,912

Shareholders' funds

 

118,525

49,012

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Greencastle Pharmacy Ltd

(Registration number: NI651704)
Balance Sheet as at 31 March 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
Mr Paul Cooper
Director

 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 155 Andersonstown Road, Belfast, Co. Antrim, BT11 9EA.

These financial statements were authorised for issue by the Board on 25 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% per annum straight line basis

Fixtures and fittings

10% per annum straight line basis

Motor vehicles

20% per annum reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

6.67% per annum straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 15).

 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

460,150

460,150

At 31 March 2023

460,150

460,150

Amortisation

At 1 April 2022

120,208

120,208

Amortisation charge

30,692

30,692

At 31 March 2023

150,900

150,900

Carrying amount

At 31 March 2023

309,250

309,250

At 31 March 2022

339,942

339,942

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Equipment
£

Total
£

Cost or valuation

At 1 April 2022

62,690

11,095

104,390

178,175

At 31 March 2023

62,690

11,095

104,390

178,175

Depreciation

At 1 April 2022

19,479

2,746

67,407

89,632

Charge for the year

6,269

1,670

20,878

28,817

At 31 March 2023

25,748

4,416

88,285

118,449

Carrying amount

At 31 March 2023

36,942

6,679

16,105

59,726

At 31 March 2022

43,211

8,349

36,983

88,543

 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Trade debtors

105,933

123,047

Prepayments

3,690

3,609

Other debtors

11,468

13,512

 

121,091

140,168

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

117,054

130,475

Taxation and social security

2,562

4,456

Accruals and deferred income

3,664

3,995

Other creditors

91,085

70,166

214,365

209,092

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Owed to associated companies

304,368

534,992

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Greencastle Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Related party transactions

Included in creditors: amounts falling due after more than one year are the following balances due to associated companies:

 

2023

2022

£

£

SMP Holdings Ltd

304,368

269,692

Pillpacplus Ltd

-

265,300

304,368

534,992