Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-01falseDispensing chemist in specialised stores1010truetrue 07924165 2022-03-01 2023-02-28 07924165 2021-03-01 2022-02-28 07924165 2023-02-28 07924165 2022-02-28 07924165 c:Director1 2022-03-01 2023-02-28 07924165 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-02-28 07924165 d:Buildings d:LongLeaseholdAssets 2023-02-28 07924165 d:Buildings d:LongLeaseholdAssets 2022-02-28 07924165 d:PlantMachinery 2022-03-01 2023-02-28 07924165 d:PlantMachinery 2023-02-28 07924165 d:PlantMachinery 2022-02-28 07924165 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07924165 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07924165 d:Goodwill 2022-03-01 2023-02-28 07924165 d:Goodwill 2023-02-28 07924165 d:Goodwill 2022-02-28 07924165 d:CurrentFinancialInstruments 2023-02-28 07924165 d:CurrentFinancialInstruments 2022-02-28 07924165 d:Non-currentFinancialInstruments 2023-02-28 07924165 d:Non-currentFinancialInstruments 2022-02-28 07924165 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07924165 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07924165 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07924165 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 07924165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 07924165 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 07924165 d:ShareCapital 2023-02-28 07924165 d:ShareCapital 2022-02-28 07924165 d:RetainedEarningsAccumulatedLosses 2023-02-28 07924165 d:RetainedEarningsAccumulatedLosses 2022-02-28 07924165 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 07924165 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 07924165 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-03-01 2023-02-28 07924165 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-02-28 07924165 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-02-28 07924165 c:FRS102 2022-03-01 2023-02-28 07924165 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07924165 c:FullAccounts 2022-03-01 2023-02-28 07924165 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07924165 2 2022-03-01 2023-02-28 07924165 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07924165 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 07924165 d:OtherDeferredTax 2023-02-28 07924165 d:OtherDeferredTax 2022-02-28 07924165 d:Goodwill d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 07924165










WEINRONK PHARMACIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
WEINRONK PHARMACIES LIMITED
REGISTERED NUMBER: 07924165

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
160,930
178,811

Tangible assets
 5 
61,230
74,741

  
222,160
253,552

Current assets
  

Stocks
  
44,499
41,087

Debtors: amounts falling due within one year
 6 
89,274
63,099

Cash at bank and in hand
 7 
193,764
311,171

  
327,537
415,357

Creditors: amounts falling due within one year
 8 
(120,889)
(118,172)

Net current assets
  
 
 
206,648
 
 
297,185

Total assets less current liabilities
  
428,808
550,737

Creditors: amounts falling due after more than one year
 9 
(203,703)
(273,628)

Provisions for liabilities
  

Deferred tax
 12 
(9,361)
(11,311)

Other provisions
 13 
(80,076)
(93,369)

  
 
 
(89,437)
 
 
(104,680)

Net assets
  
135,668
172,429

Page 1

 
WEINRONK PHARMACIES LIMITED
REGISTERED NUMBER: 07924165
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
135,568
172,329

  
135,668
172,429


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2023.






A Weinronk
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.07924165). The address of the registered office is 4 Rathmore Drive, Prenton, Merseyside CH43 2HD.
These financial statements present information about the company as an individual undertaking. It is not a member of a group of companies. The principal activity of the company is the operation of a retail pharmacy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of these financial statements is pound sterling; the financial statements
are rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continues to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Page 3

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10 years straight line
Plant & machinery
-
15 - 50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the
Page 7

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).

Page 8

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 March 2022
357,622



At 28 February 2023

357,622



Amortisation


At 1 March 2022
178,811


Charge for the year on owned assets
17,881



At 28 February 2023

196,692



Net book value



At 28 February 2023
160,930



At 28 February 2022
178,811



Page 9

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 March 2022
4,522
120,766
125,288


Additions
-
829
829


Disposals
-
(2,217)
(2,217)



At 28 February 2023

4,522
119,378
123,900



Depreciation


At 1 March 2022
4,522
46,024
50,546


Charge for the year on owned assets
-
14,341
14,341


Disposals
-
(2,217)
(2,217)



At 28 February 2023

4,522
58,148
62,670



Net book value



At 28 February 2023
-
61,230
61,230



At 28 February 2022
-
74,741
74,741

Page 10

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
71,592
50,656

Other debtors
8,717
6,766

Prepayments and accrued income
8,965
5,677

89,274
63,099



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
193,764
311,171

193,764
311,171



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
110,187
103,038

Corporation tax
4,830
9,475

Other taxation and social security
2,279
2,280

Other creditors
593
379

Accruals and deferred income
3,000
3,000

120,889
118,172



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
203,703
273,628

203,703
273,628


Page 11

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Other loans
203,703
273,628


203,703
273,628



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
193,764
311,171




Financial assets measured at fair value through profit or loss comprise of cash in hand and at bank.

Page 12

 
WEINRONK PHARMACIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

12.


Deferred taxation




2023


£






At beginning of year
(11,311)


Charged to profit or loss
1,950



At end of year
(9,361)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,374)
(11,325)

Short term timing differences
13
14

(9,361)
(11,311)


13.


Provisions




Pension annuity provision

£





At 1 March 2022
93,369


Charged to profit or loss
(4,293)


Utilised in year
(9,000)



At 28 February 2023
80,076


14.


Pension commitments

The Company pays into personal pension plans. The assets of the plans are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the plans and amounted to £1,100 (2022 - £946) . Contributions totalling £594 (2022 - £381) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 13