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REGISTERED NUMBER: SC307811 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GUIDI'S PHARMACY LTD.

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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


GUIDI'S PHARMACY LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D Guidi
Mrs N Robbie
S D Guidi
Mrs V Guidi





SECRETARY: Mrs V Guidi





REGISTERED OFFICE: 139 Thurston Road
Hillington
Glasgow
G52 2AZ





REGISTERED NUMBER: SC307811 (Scotland)





ACCOUNTANTS: Bannerman Johnstone Maclay
213 St Vincent Street
Glasgow
G2 5QY

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 194,752 207,294
194,752 207,294

CURRENT ASSETS
Stocks 6 80,416 73,466
Debtors 7 263,478 185,338
Cash at bank 793,252 685,950
1,137,146 944,754
CREDITORS
Amounts falling due within one year 8 589,359 582,026
NET CURRENT ASSETS 547,787 362,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

742,539

570,022

PROVISIONS FOR LIABILITIES 21,591 20,051
NET ASSETS 720,948 549,971

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 720,946 549,969
SHAREHOLDERS' FUNDS 720,948 549,971

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.

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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 22 November 2023 and were signed on its behalf by:





D Guidi - Director


GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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


1. STATUTORY INFORMATION

Guidi's Pharmacy Ltd. 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.

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 2011, has now been fully amortised.

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.

Computer equipment - 33.33% on cost.
Motor vehicles - 25% reducing balance
Fixture and fittings - 25% 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.

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including certain creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 30 ) .

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 1,425,000
AMORTISATION
At 1 April 2022
and 31 March 2023 1,425,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 70,000 224,570 8,995 23,741 327,306
Additions - 25,101 - - 25,101
At 31 March 2023 70,000 249,671 8,995 23,741 352,407
DEPRECIATION
At 1 April 2022 - 94,261 2,530 23,221 120,012
Charge for year - 35,715 1,616 312 37,643
At 31 March 2023 - 129,976 4,146 23,533 157,655
NET BOOK VALUE
At 31 March 2023 70,000 119,695 4,849 208 194,752
At 31 March 2022 70,000 130,309 6,465 520 207,294

6. STOCKS
2023 2022
£    £   
Stocks 80,416 73,466

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 210,171 138,394
VAT 53,307 46,944
263,478 185,338

GUIDI'S PHARMACY LTD. (REGISTERED NUMBER: SC307811)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 259,718 275,943
Tax 73,990 43,156
Social security and other taxes 9,970 8,148
Directors' current accounts 239,816 249,086
Accrued expenses 5,865 5,693
589,359 582,026

9. CONTROL

The company is controlled by the directors.