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Company registration number: 03317302

Shires Pharmacies Limited

Filleted Financial Statements

for the Period from 1 June 2022 to 30 November 2022

 

Shires Pharmacies Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Shires Pharmacies Limited

Company Information

Director

Mr P Cattee

Registered office

11 Manchester Road
Walkden
Manchester
Lancashire
M28 3NS

Auditors

Abrams Ashton Ltd
Chartered Accountants & Statutory Auditors
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Shires Pharmacies Limited

(Registration number: 03317302)
Balance Sheet as at 30 November 2022

Note

30 November
2022
£

(Unaudited)
31 May
2022
£

Fixed assets

 

Intangible assets

4

-

1,094,064

Tangible assets

5

-

72,314

 

-

1,166,378

Current assets

 

Stocks

-

149,201

Debtors

6

-

409,953

Cash at bank and in hand

 

-

379,382

 

-

938,536

Creditors: Amounts falling due within one year

7

-

(798,816)

Net current assets

 

-

139,720

Total assets less current liabilities

 

-

1,306,098

Creditors: Amounts falling due after more than one year

7

-

(6,401)

Provisions for liabilities

-

(11,041)

Net assets

 

-

1,288,656

Capital and reserves

 

Called up share capital

265,002

265,002

Capital redemption reserve

265,002

265,002

Retained earnings

(530,004)

758,652

Shareholders' funds

 

-

1,288,656

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 November 2023
 

.........................................
Mr P Cattee
Director

 

Shires Pharmacies Limited

Notes to the Financial Statements for the Period from 1 June 2022 to 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Manchester Road
Walkden
Manchester
Lancashire
M28 3NS
England

These financial statements were authorised for issue by the director on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company ceased to trade on 31 August 2022 when it's trade, assets and liabilities were transferred to the parent company PCT Healthcare Limited.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 28 November 2023 was Darren Leigh FCCA, who signed for and on behalf of Abrams Ashton Ltd.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

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

 

Shires Pharmacies Limited

Notes to the Financial Statements for the Period from 1 June 2022 to 30 November 2022

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

straight line over the period of lease

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

NHS Licences

20 years straight line

Stocks

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

 

Shires Pharmacies Limited

Notes to the Financial Statements for the Period from 1 June 2022 to 30 November 2022

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they related.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 37 (2022 - 62).

4

Intangible assets

NHS pharmacy licenses
 £

Total
£

Cost or valuation

At 1 June 2022

1,094,064

1,094,064

At 30 November 2022

1,094,064

1,094,064

Amortisation

Impairment

1,094,064

1,094,064

At 30 November 2022

1,094,064

1,094,064

Carrying amount

At 30 November 2022

-

-

At 31 May 2022

1,094,064

1,094,064

 

Shires Pharmacies Limited

Notes to the Financial Statements for the Period from 1 June 2022 to 30 November 2022

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

130,201

254,001

34,399

418,601

Acquired through business combinations

(130,201)

(254,001)

(34,399)

(418,601)

At 30 November 2022

-

-

-

-

Depreciation

At 1 June 2022

106,600

225,696

13,991

346,287

Charge for the period

1,572

1,415

1,276

4,263

Eliminated on disposal

(108,172)

(227,111)

(15,267)

(350,550)

At 30 November 2022

-

-

-

-

Carrying amount

At 30 November 2022

-

-

-

-

At 31 May 2022

23,601

28,305

20,408

72,314

6

Debtors

30 November
2022
£

(Unaudited)
31 May
2022
£

Trade debtors

-

364,985

Prepayments and accrued income

-

12,226

Other debtors

-

32,742

-

409,953

 

Shires Pharmacies Limited

Notes to the Financial Statements for the Period from 1 June 2022 to 30 November 2022

7

Creditors

Creditors: amounts falling due within one year

30 November
2022
£

(Unaudited)
31 May
2022
£

Due within one year

 

Loans and borrowings

-

7,314

Trade creditors

 

-

625,583

Taxation and social security

 

-

113,234

Other creditors

 

-

52,685

 

-

798,816

Creditors: amounts falling due after more than one year

30 November
2022
£

(Unaudited)
31 May
2022
£

Due after one year

 

Loans and borrowings

-

6,401

8

Parent and ultimate parent undertaking

The company's immediate parent is Shires Group Holdings Limited, incorporated in England and Wales.

 

The parent of the largest group in which these financial statements are consolidated is PCT Healthcare (Holdings) Limited, incorporated in England and Wales.

The address of PCT Healthcare (Holdings) Limited is:
11 Manchester Road, Walkden Manchester M28 3NS