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Registration number: 07682753

Accrington Late Night Pharmacy Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Accrington Late Night Pharmacy Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Accrington Late Night Pharmacy Ltd

Company Information

Director

Mr Mohammed Answer Ghafoor

Registered office

188 Blackburn Road
Accrington
Lancashire
BB5 0AQ

Accountants

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

Accrington Late Night Pharmacy Ltd

(Registration number: 07682753)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

350,000

350,000

Tangible assets

509,505

480,334

 

859,505

830,334

Current assets

 

Stocks

128,557

131,077

Debtors

57,267

56,754

Cash at bank and in hand

 

238,753

207,555

 

424,577

395,386

Creditors: Amounts falling due within one year

(700,129)

(760,348)

Net current liabilities

 

(275,552)

(364,962)

Total assets less current liabilities

 

583,953

465,372

Creditors: Amounts falling due after more than one year

(275,319)

(290,595)

Accruals and deferred income

 

(2,755)

(2,825)

Net assets

 

305,879

171,952

Capital and reserves

 

Called up share capital

4

110

110

Retained earnings

305,769

171,842

Shareholders' funds

 

305,879

171,952

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Accrington Late Night Pharmacy Ltd

(Registration number: 07682753)
Abridged Balance Sheet as at 30 June 2023

Approved and authorised by the director on 22 February 2024
 

.........................................
Mr Mohammed Answer Ghafoor
Director

 

Accrington Late Night Pharmacy Ltd

Statement of Changes in Equity for the Year Ended 30 June 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2022

110

171,842

171,952

Profit for the year

-

133,927

133,927

Total comprehensive income

-

133,927

133,927

At 30 June 2023

110

305,769

305,879

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2021

110

114,918

115,028

Profit for the year

-

56,924

56,924

Total comprehensive income

-

56,924

56,924

At 30 June 2022

110

171,842

171,952

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
188 Blackburn Road
Accrington
Lancashire
BB5 0AQ
England

These financial statements were authorised for issue by the director on 22 February 2024.

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 abridged 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

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.

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

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

Office Equipment

20% reducing balance

Fxtures and Fittings

20% reducing balance

Plant and Machinery

20% reducing balance

Motor Vehicles

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 35 (2022 - 34).

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

Ordinary B Shares of £1 each

1

1

1

1

Ordinary C Shares of £1 each

1

1

1

1

Ordinary D Shares of £1 each

7

7

7

7

Ordinary E Shares of £1 each

1

1

1

1

 

110

110

110

110