Registered number
06307519
Pharmland Limited
Unaudited Filleted Accounts
31 July 2023
Pharmland Limited
Registered number: 06307519
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 233,245 -
Tangible assets 4 381,535 63,401
614,780 63,401
Current assets
Stocks 92,316 61,250
Debtors 5 345,745 232,057
Cash at bank and in hand 129,615 266,635
567,676 559,942
Creditors: amounts falling due within one year 6 (624,965) (332,858)
Net current (liabilities)/assets (57,289) 227,084
Total assets less current liabilities 557,491 290,485
Creditors: amounts falling due after more than one year 7 (334,347) (38,428)
Provisions for liabilities (17,438) (12,046)
Net assets 205,706 240,011
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 204,706 239,011
Shareholder's funds 205,706 240,011
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs E Holder
Director
Approved by the board on 5 April 2024
Pharmland Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Motor Vehicles 25% on reducing balance
Equipment, fixtures & fittings 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 16
3 Intangible fixed assets £
Goodwill:
Cost
Additions 237,198
At 31 July 2023 237,198
Amortisation
Provided during the year 3,953
At 31 July 2023 3,953
Net book value
At 31 July 2023 233,245
Goodwill comprises the cost of an NHS contract and GPhC licence acquired on 26 May 2023.

In the opinion of the sole director the value of this contract and licence has not declined. However in accordance with FRS102, these costs are being written off over a period of 10 years calculated on a monthly basis from the above date.
4 Tangible fixed assets
Leasehold premises Motor vehicles Equipment, fixtures & fittings Total
£ £ £ £
Cost
At 1 August 2022 - 70,306 32,058 102,364
Additions 1 - 343,455 343,456
Disposals - - (6,901) (6,901)
At 31 July 2023 1 70,306 368,612 438,919
Depreciation
At 1 August 2022 - 21,816 17,147 38,963
Charge for the year 1 12,122 11,849 23,972
On disposals - - (5,551) (5,551)
At 31 July 2023 1 33,938 23,445 57,384
Net book value
At 31 July 2023 - 36,368 345,167 381,535
At 31 July 2022 - 48,490 14,911 63,401
5 Debtors 2023 2022
£ £
Trade debtors 183,180 159,863
Other debtors 162,565 72,194
345,745 232,057
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 50,317 -
Obligations under finance lease and hire purchase contracts 9,442 9,442
Trade creditors 367,134 277,342
Director's loan account 156,808 1,364
Taxation and social security costs 6,127 18,074
Other creditors 35,137 26,636
624,965 332,858
7 Creditors: amounts falling due after one year 2023 2022
£ £
Non-equity preference shares 10 10
Bank loans 306,148 -
Obligations under finance lease and hire purchase contracts 28,189 38,418
334,347 38,428
8 Controlling party
The company is ultimately controlled by its director, Mrs E Holder, who holds 100% of the issued ordinary share capital.
9 Other information
Pharmland Limited is a private company limited by shares and incorporated in England. Its registered office is:
James House
40 Lagland Street
Poole
Dorset
BH15 1QG
Pharmland Limited 06307519 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 Mrs E Holder No description of principal activity 06307519 2021-08-01 2022-07-31 06307519 core:WithinOneYear 2022-07-31 06307519 core:AfterOneYear 2022-07-31 06307519 core:ShareCapital 2022-07-31 06307519 core:RetainedEarningsAccumulatedLosses 2022-07-31 06307519 2022-08-01 2023-07-31 06307519 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06307519 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06307519 bus:Director40 2022-08-01 2023-07-31 06307519 1 2022-08-01 2023-07-31 06307519 2 2022-08-01 2023-07-31 06307519 core:Goodwill 2022-08-01 2023-07-31 06307519 core:LandBuildings 2022-08-01 2023-07-31 06307519 core:PlantMachinery 2022-08-01 2023-07-31 06307519 core:Vehicles 2022-08-01 2023-07-31 06307519 countries:England 2022-08-01 2023-07-31 06307519 bus:FRS102 2022-08-01 2023-07-31 06307519 bus:FullAccounts 2022-08-01 2023-07-31 06307519 2023-07-31 06307519 core:WithinOneYear 2023-07-31 06307519 core:AfterOneYear 2023-07-31 06307519 core:ShareCapital 2023-07-31 06307519 core:RetainedEarningsAccumulatedLosses 2023-07-31 06307519 core:Goodwill 2023-07-31 06307519 core:LandBuildings 2023-07-31 06307519 core:PlantMachinery 2023-07-31 06307519 core:Vehicles 2023-07-31 06307519 2022-07-31 06307519 core:LandBuildings 2022-07-31 06307519 core:PlantMachinery 2022-07-31 06307519 core:Vehicles 2022-07-31 iso4217:GBP xbrli:pure