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REGISTERED NUMBER: 08239118 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WELLINGTON PHARMACY LIMITED

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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


WELLINGTON PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: J S Rahania
R Rahania
R K Saroy



REGISTERED OFFICE: 20 Coningsby Drive
Wolverhampton
West Midlands
WV2 2RN



REGISTERED NUMBER: 08239118 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds Bank plc
3 Queen Square
Wolverhampton
West Midlands
WV1 1RF

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 155,285 162,973

CURRENT ASSETS
Stocks 5 102,954 84,544
Debtors 6 355,574 1,073,920
Cash at bank and in hand 1,175,936 985,091
1,634,464 2,143,555
CREDITORS
Amounts falling due within one year 7 (983,303 ) (1,593,444 )
NET CURRENT ASSETS 651,161 550,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

806,446

713,084

PROVISIONS FOR LIABILITIES 9 (25,188 ) (26,648 )
NET ASSETS 781,258 686,436

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 781,158 686,336
SHAREHOLDERS' FUNDS 781,258 686,436

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 directors acknowledge their 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.

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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 Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:




R Rahania - Director



R K Saroy - Director


WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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


1. STATUTORY INFORMATION

Wellington Pharmacy 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on reducing balance
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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2022 22,718 311,425 - 334,143
Additions - - 20,796 20,796
At 28 February 2023 22,718 311,425 20,796 354,939
DEPRECIATION
At 1 March 2022 - 171,170 - 171,170
Charge for year - 28,051 433 28,484
At 28 February 2023 - 199,221 433 199,654
NET BOOK VALUE
At 28 February 2023 22,718 112,204 20,363 155,285
At 28 February 2022 22,718 140,255 - 162,973

5. STOCKS
2023 2022
£    £   
Stocks 102,954 84,544

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 143,070 909,891
Other debtors 6,685 92,995
Amounts owed by group undertakings 134,260 -
VAT 49,373 65,150
Prepayments and accrued income 22,186 5,884
355,574 1,073,920

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 806,486 907,798
Amounts owed to group undertakings - 794
Corporation tax 30,792 193,710
Social security and other taxes 2,999 3,170
Other creditors 60,683 140,252
Directors' loan accounts 302 -
Accruals and deferred income 82,041 347,720
983,303 1,593,444

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
In more than five years 16,359 16,359

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 25,188 26,648

Deferred
tax
£   
Balance at 1 March 2022 26,648
Credited during the year (1,460 )
Balance at 28 February 2023 25,188

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 'A' Ordinary £1 50 50
50 'B' Ordinary £1 50 50
100 100

11. RESERVES
Retained
earnings
£   

At 1 March 2022 686,336
Profit for the year 130,822
Dividends (36,000 )
At 28 February 2023 781,158

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2023, there was a loan from Mr J Rahania of £302 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118)

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


13. RELATED PARTY DISCLOSURES

The company was under the control of Mr J S Rahania, Mr R Rahania and Mr R K Saroy throughout the current year and previous year as directors of the company and Nightchem Limited as the sole shareholder and immediate and ultimate holding company.

At 28 February 2023, there was a loan to Nightchem Limited of £134,260 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan from Nightchem Limited of £Nil (2022: £794). This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan to RJR Chem Ltd of £Nil (2022: £85,221), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan from RJR Chem Ltd of £59,849 (2022: £Nil), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan to Church Street Healthcare Limited of £419 (2022: £1,774), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan from Daychem Ltd of £336 (2022: £139,916), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Nightchem Limited, a company incorporated in England and Wales.