Company registration number 13508110 (England and Wales)
SD PHARMACY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
SD PHARMACY LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
SD PHARMACY LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
31 March 2023
31 July 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
565,815
582,542
Tangible assets
4
60,867
67,215
626,682
649,757
Current assets
Stocks
60,000
28,986
Debtors
5
201,445
114,900
Cash at bank and in hand
233,048
130,795
494,493
274,681
Creditors: amounts falling due within one year
6
(672,338)
(524,420)
Net current liabilities
(177,845)
(249,739)
Total assets less current liabilities
448,837
400,018
Creditors: amounts falling due after more than one year
7
(437,818)
(432,906)
Net assets/(liabilities)
11,019
(32,888)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
10,919
(32,988)
Total equity
11,019
(32,888)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

SD PHARMACY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 November 2023 and are signed on its behalf by:
Dr C  Hornung
Dr T A Norbury
Director
Director
Company registration number 13508110 (England and Wales)
SD PHARMACY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 13 July 2021
-
0
-
0
-
Period ended 31 July 2022:
Loss and total comprehensive income
-
(32,988)
(32,988)
Issue of share capital
100
-
100
Balance at 31 July 2022
100
(32,988)
(32,888)
Period ended 31 March 2023:
Profit and total comprehensive income
-
43,907
43,907
Balance at 31 March 2023
100
10,919
11,019
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

SD Pharmacy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS.

1.1
Reporting period

The previous accounting period was 13 July 2021 to 31 July 2022 and so represented a period of longer than a year. The current accounting period is 1 August 2022 to 31 March 2023. Due to this, comparative amounts presented (including the related notes) may not be entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% straight line
Fixtures and fittings
10% straight line
Computers
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
9
7
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022
613,202
Additions
25,986
At 31 March 2023
639,188
Amortisation and impairment
At 1 August 2022
30,660
Amortisation charged for the period
42,713
At 31 March 2023
73,373
Carrying amount
At 31 March 2023
565,815
At 31 July 2022
582,542
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
70,803
Additions
962
At 31 March 2023
71,765
Depreciation and impairment
At 1 August 2022
3,588
Depreciation charged in the period
7,310
At 31 March 2023
10,898
Carrying amount
At 31 March 2023
60,867
At 31 July 2022
67,215
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 7 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
166,114
87,996
Other debtors
35,331
26,904
201,445
114,900
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
26,280
41,829
Trade creditors
277,275
155,825
Amounts owed to group undertakings
333,834
308,983
Taxation and social security
12,213
2,791
Other creditors
22,736
14,992
672,338
524,420

The bank loan of £26,280 (2022: £41,829) is secured by way of joint and several personal guarantee of the directors of the company and fixed and floating charges over the assets of the company.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
437,818
432,906

The bank loan of £437,818 (2022: £432,906) is secured by way of joint and several personal guarantee of the directors of the company and fixed and floating charges over the assets of the company.

Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
332,699
265,591
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