2022-03-012023-02-282023-02-28false05241106MOTTS PHARMACY 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MOTTS PHARMACY LIMITED

Registered Number
05241106
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

MOTTS PHARMACY LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

KULAR, Gurpreet
KULAR, Rupan

Registered Address

Market Place
Reepham
Norwich
NR10 4JJ

Registered Number

05241106 (England and Wales)
MOTTS PHARMACY LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets647,56751,653
47,56751,653
Current assets
Stocks822,17021,320
Debtors9165,947196,882
Cash at bank and on hand195,099145,810
383,216364,012
Creditors amounts falling due within one year10(239,186)(233,116)
Net current assets (liabilities)144,030130,896
Total assets less current liabilities191,597182,549
Creditors amounts falling due after one year11(36,811)(46,955)
Net assets154,786135,594
Capital and reserves
Called up share capital100100
Profit and loss account154,686135,494
Shareholders' funds154,786135,594
The financial statements were approved and authorised for issue by the Board of Directors on 24 November 2023, and are signed on its behalf by:
KULAR, Gurpreet
Director
Registered Company No. 05241106
MOTTS PHARMACY LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of dispensing chemists in specialised stores.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles15
Office Equipment15
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year88
6.Property, plant and equipment

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 2213,48965,70423,785102,978
Additions-1,2122,4963,708
At 28 February 2313,48966,91626,281106,686
Depreciation and impairment
At 01 March 222,59741,6567,07251,325
Charge for year1,6343,6262,5347,794
At 28 February 234,23145,2829,60659,119
Net book value
At 28 February 239,25821,63416,67547,567
At 28 February 2210,89224,04816,71351,653
7.Description of nature of transactions and balances with related parties
At the yearend, the company owed £47,258 (2022: £52,886) to G S Kular Ltd, a company in which Mr G. Kular is also a director and a majority shareholder.
8.Stocks

2023

2022

££
Finished goods22,17021,320
Total22,17021,320
9.Debtors

2023

2022

££
Trade debtors / trade receivables120,011151,107
Other debtors45,62245,362
Prepayments and accrued income314413
Total165,947196,882
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables106,083103,099
Amounts owed to related parties47,25852,886
Taxation and social security20,54321,256
Payments received on account55,82852,914
Other creditors9,1272,663
Accrued liabilities and deferred income347298
Total239,186233,116
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts36,81146,955
Total36,81146,955