IRIS Accounts Production v23.3.0.418 10348036 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh103480362022-03-31103480362023-03-31103480362022-04-012023-03-31103480362021-03-31103480362021-04-012022-03-31103480362022-03-3110348036ns10:Originalns15:EnglandWales2022-04-012023-03-3110348036ns14:PoundSterlingns10:Original2022-04-012023-03-3110348036ns10:Originalns10:Director12022-04-012023-03-3110348036ns10:Original2022-04-012023-03-3110348036ns10:Originalns10:Director22022-04-012023-03-3110348036ns10:Original2023-03-3110348036ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3110348036ns10:Originalns10:SmallEntities2022-04-012023-03-3110348036ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3110348036ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110348036ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3110348036ns10:Originalns10:FullAccounts2022-04-012023-03-3110348036ns10:Original12022-04-012023-03-3110348036ns10:Originalns10:RegisteredOffice2022-04-012023-03-3110348036ns10:Original2022-03-3110348036ns10:Originalns5:CurrentFinancialInstruments2023-03-3110348036ns10:Originalns5:CurrentFinancialInstruments2022-03-3110348036ns10:Originalns5:Non-currentFinancialInstruments2023-03-3110348036ns10:Originalns5:Non-currentFinancialInstruments2022-03-3110348036ns5:ShareCapitalns10:Original2023-03-3110348036ns5:ShareCapitalns10:Original2022-03-3110348036ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3110348036ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3110348036ns10:Originalns5:NetGoodwill2022-04-012023-03-3110348036ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3110348036ns10:Originalns5:PlantMachinery2022-04-012023-03-3110348036ns10:Original2021-04-012022-03-3110348036ns10:Originalns5:NetGoodwill2022-03-3110348036ns10:Originalns5:NetGoodwill2023-03-3110348036ns10:Originalns5:NetGoodwill2022-03-3110348036ns10:Originalns5:PlantMachinery2022-03-3110348036ns10:Originalns5:PlantMachinery2023-03-3110348036ns10:Originalns5:PlantMachinery2022-03-3110348036ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110348036ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
















NETTLES PHARMACY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NETTLES PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: B Patel
R A Shah





REGISTERED OFFICE: 6 Manor Way
Purley
CR8 3BH





REGISTERED NUMBER: 10348036 (England and Wales)





ACCOUNTANTS: Akshar & Company
Chartered Accountants
221 Kenton Lane
Harrow
Middlesex
HA3 8RP

NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 365,908 457,385
Tangible assets 5 6,977 6,988
372,885 464,373

CURRENT ASSETS
Stocks 66,775 50,475
Debtors 6 32,806 65,042
Cash at bank and in hand 42,463 10,849
142,044 126,366
CREDITORS
Amounts falling due within one year 7 682,534 627,874
NET CURRENT LIABILITIES (540,490 ) (501,508 )
TOTAL ASSETS LESS CURRENT LIABILITIES (167,605 ) (37,135 )

CREDITORS
Amounts falling due after more than one
year

8

407,129

442,539
NET LIABILITIES (574,734 ) (479,674 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (574,834 ) (479,774 )
(574,734 ) (479,674 )

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 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.

NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)

BALANCE SHEET - continued
31 MARCH 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:




B Patel - Director



R A Shah - Director


NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Nettles 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.

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 etc - 25% on reducing balance and Straight line over 4 years

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.

NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 914,770
AMORTISATION
At 1 April 2022 457,385
Charge for year 91,477
At 31 March 2023 548,862
NET BOOK VALUE
At 31 March 2023 365,908
At 31 March 2022 457,385

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 30,000
Additions 2,315
At 31 March 2023 32,315
DEPRECIATION
At 1 April 2022 23,012
Charge for year 2,326
At 31 March 2023 25,338
NET BOOK VALUE
At 31 March 2023 6,977
At 31 March 2022 6,988

NETTLES PHARMACY LIMITED (REGISTERED NUMBER: 10348036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 49,961
Other debtors 32,806 15,081
32,806 65,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 67,200 63,600
Trade creditors 96,660 117,070
Amounts owed to group undertakings 497,000 426,000
Taxation and social security 2,891 2,981
Other creditors 18,783 18,223
682,534 627,874

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 407,129 442,539

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 138,329 188,139