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REGISTERED NUMBER: NI003054 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SWEENEY'S PHARMACIES LIMITED

SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SWEENEY'S PHARMACIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M Hamill
Dr M J Kerr
Dr S E Hillan
P P Kelly
Dr T A Maguire
Mrs S A Mawhinney





SECRETARY: Mrs S A Mawhinney





REGISTERED OFFICE: 5 Annadale Avenue
Belfast
BT7 3JH





REGISTERED NUMBER: NI003054 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145,685 179,106

CURRENT ASSETS
Stocks 78,788 84,201
Debtors 5 870,478 807,583
Cash at bank and in hand 397,382 232,735
1,346,648 1,124,519
CREDITORS
Amounts falling due within one year 6 355,621 308,868
NET CURRENT ASSETS 991,027 815,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,136,712

994,757

PROVISIONS FOR LIABILITIES 19,076 20,474
NET ASSETS 1,117,636 974,283

CAPITAL AND RESERVES
Called up share capital 7 5,000 5,000
Retained earnings 1,112,636 969,283
SHAREHOLDERS' FUNDS 1,117,636 974,283

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.

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.

SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

BALANCE SHEET - continued
31 MARCH 2023



The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:




Mrs S A Mawhinney - Director



Dr M J Kerr - Director


SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

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


1. STATUTORY INFORMATION

Sweeney's Pharmacies Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements in:

The need for impairment provisions against items held in stock. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rates and useful lives on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain reasonable.

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.
Improvements to property - 4% on cost
Fixtures, fittings & equipment - 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.

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.


SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

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


2. ACCOUNTING POLICIES - continued
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.

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 19 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
to fittings Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2022 71,378 334,156 8,167 413,701
Additions - 310 - 310
At 31 March 2023 71,378 334,466 8,167 414,011
DEPRECIATION
At 1 April 2022 15,463 218,792 340 234,595
Charge for year 2,855 28,919 1,957 33,731
At 31 March 2023 18,318 247,711 2,297 268,326
NET BOOK VALUE
At 31 March 2023 53,060 86,755 5,870 145,685
At 31 March 2022 55,915 115,364 7,827 179,106

SWEENEY'S PHARMACIES LIMITED (REGISTERED NUMBER: NI003054)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 176,324 160,924
Other debtors 694,154 646,659
870,478 807,583

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 154,850 140,141
Taxation and social security 30,804 19,541
Other creditors 169,967 149,186
355,621 308,868

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
5,000 Ordinary 1 5,000 5,000

8. ULTIMATE CONTROLLING PARTY

The controlling party is Northern Pharmacies Limited.