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REGISTERED NUMBER: 06352715 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Shivas Pharmacy Limited

Shivas Pharmacy Limited (Registered number: 06352715)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shivas Pharmacy Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: J V Patel
Mrs D Patel





REGISTERED OFFICE: 105a Albemarle Road
Beckenham
Kent
BR3 5HS





REGISTERED NUMBER: 06352715 (England and Wales)





ACCOUNTANTS: PHS Accountants Ltd
105a Albemarle Road
Beckenham
Kent
BR3 5HS

Shivas Pharmacy Limited (Registered number: 06352715)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 287,500 345,000
Tangible assets 6 16,932 13,394
304,432 358,394

CURRENT ASSETS
Stocks 78,619 78,630
Debtors 7 511,266 332,094
Cash at bank and in hand 225,964 175,338
815,849 586,062
CREDITORS
Amounts falling due within one year 8 425,825 384,594
NET CURRENT ASSETS 390,024 201,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

694,456

559,862

CREDITORS
Amounts falling due after more than one
year

9

29,167

44,167
NET ASSETS 665,289 515,695

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 665,287 515,693
SHAREHOLDERS' FUNDS 665,289 515,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Shivas Pharmacy Limited (Registered number: 06352715)

Balance Sheet - continued
31 December 2022


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 23 December 2023 and were signed on its behalf by:




J V Patel - Director



Mrs D Patel - Director


Shivas Pharmacy Limited (Registered number: 06352715)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Shivas Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Income is recognised during the year when the company provides goods and services.

Goodwill
Goodwill arises upon the acquisition of established trading business in 2008. Goodwill is calculated as the difference between the value of the consideration paid and the fair value of the net asset acquired. It is amortised from the date of acquisition through the profit and loss over the directors estimate of its useful economic life of twenty years. This estimate of its useful life is subject to regular impairment reviews and these have not resulted in any material change of amortisation charges over the year.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 6 ) .

Shivas Pharmacy Limited (Registered number: 06352715)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 1,150,000
AMORTISATION
At 1 January 2022 805,000
Charge for year 57,500
At 31 December 2022 862,500
NET BOOK VALUE
At 31 December 2022 287,500
At 31 December 2021 345,000

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 413,009 15,122 428,131
Additions 11,938 - 11,938
At 31 December 2022 424,947 15,122 440,069
DEPRECIATION
At 1 January 2022 405,635 9,102 414,737
Charge for year 4,828 3,572 8,400
At 31 December 2022 410,463 12,674 423,137
NET BOOK VALUE
At 31 December 2022 14,484 2,448 16,932
At 31 December 2021 7,374 6,020 13,394

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 93,668 20,288
Other debtors 417,598 311,806
511,266 332,094

Shivas Pharmacy Limited (Registered number: 06352715)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 10,000 4,886
Trade creditors 178,578 176,670
Taxation and social security 9,439 28,863
Other creditors 227,808 174,175
425,825 384,594

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 29,167 44,167