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REGISTERED NUMBER: SC204647 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Neilston Pharmacy Limited

Neilston Pharmacy Limited (Registered number: SC204647)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Neilston Pharmacy Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: John M Gilbride
I McDowall





SECRETARY: John M Gilbride





REGISTERED OFFICE: Netherplace House
Netherplace Road
Newton Mearns
Glasgow
G77 6PP





REGISTERED NUMBER: SC204647 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Neilston Pharmacy Limited (Registered number: SC204647)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 92,117 52,648
92,117 52,648

CURRENT ASSETS
Stock 58,074 41,000
Debtors 6 180,973 219,452
Cash at bank and in hand 155,094 156,596
394,141 417,048
CREDITORS
Amounts falling due within one year 7 331,137 345,292
NET CURRENT ASSETS 63,004 71,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,121

124,404

PROVISIONS FOR LIABILITIES 8 12,654 1,797
NET ASSETS 142,467 122,607

CAPITAL AND RESERVES
Called up share capital 9 100 100
Capital redemption reserve 57,050 57,050
Retained earnings 85,317 65,457
SHAREHOLDERS' FUNDS 142,467 122,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Neilston Pharmacy Limited (Registered number: SC204647)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





John M Gilbride - Director


Neilston Pharmacy Limited (Registered number: SC204647)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Neilston Pharmacy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 stated net of value added tax for over the counter sales and gross for NHS sales. Turnover from the sale of over the counter goods is recognised when payment is recorded in the till and NHS income is recognised when the client receives a PPD9 confirming the sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty 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.
Heritable property - 2% on cost
Fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


Neilston Pharmacy Limited (Registered number: SC204647)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 15 ) .

Neilston Pharmacy Limited (Registered number: SC204647)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 355,430
AMORTISATION
At 1 May 2022
and 30 April 2023 355,430
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Fittings
Heritable and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 66,950 72,462 24,916 5,958 170,286
Additions - - 59,500 - 59,500
At 30 April 2023 66,950 72,462 84,416 5,958 229,786
DEPRECIATION
At 1 May 2022 29,568 71,792 10,901 5,377 117,638
Charge for year 1,339 168 18,379 145 20,031
At 30 April 2023 30,907 71,960 29,280 5,522 137,669
NET BOOK VALUE
At 30 April 2023 36,043 502 55,136 436 92,117
At 30 April 2022 37,382 670 14,015 581 52,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 119,039 128,453
Other debtors 61,934 90,999
180,973 219,452

Neilston Pharmacy Limited (Registered number: SC204647)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 159,178 186,026
Taxation and social security 38,602 67,454
Other creditors 133,357 91,812
331,137 345,292

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,654 1,797

Deferred
tax
£   
Balance at 1 May 2022 1,797
Provided during year 10,857
Balance at 30 April 2023 12,654

9. CALLED UP SHARE CAPITAL

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

10. ULTIMATE CONTROLLING PARTY

100% of the issued share capital is owned by Rossinver Holdings Ltd, a company registered in Scotland which is controlled by the Director, Mr John Gilbride, and his wife.