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REGISTERED NUMBER: 04024474 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

M S Pharmacy Limited

M S Pharmacy Limited (Registered number: 04024474)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M S Pharmacy Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Sadiq
Z B Sadiq





SECRETARY: M Sadiq





REGISTERED OFFICE: 6 Parrys Lane
Bristol
Avon
BS9 1AA





REGISTERED NUMBER: 04024474 (England and Wales)





ACCOUNTANTS: Dury & Company
51 Peaslands Road
Sidmouth
Devon
EX10 9BE

M S Pharmacy Limited (Registered number: 04024474)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,930 3,747
Investment property 6 387,047 387,047
389,977 390,794

CURRENT ASSETS
Stocks 104,902 92,101
Debtors 7 92,521 86,598
Cash at bank and in hand 107,099 119,713
304,522 298,412
CREDITORS
Amounts falling due within one year 8 175,993 182,234
NET CURRENT ASSETS 128,529 116,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

518,506

506,972

CAPITAL AND RESERVES
Called up share capital 9 501 501
Share premium 10 499,000 499,000
Capital redemption reserve 10 499 499
Retained earnings 10 18,506 6,972
SHAREHOLDERS' FUNDS 518,506 506,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

M S Pharmacy Limited (Registered number: 04024474)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





M Sadiq - Director


M S Pharmacy Limited (Registered number: 04024474)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

M S 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.

2. ACCOUNTING POLICIES

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

Changes in accounting policies
The estimated useful life of goodwill is considered to be 10 years and purchased goodwill is now being amortised over this period. Previously the estimated useful life had been considered to be 20 years and had been applied to goodwill purchased in 2001. All goodwill owned by the company is now to be written off over the next 10 years.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


M S Pharmacy Limited (Registered number: 04024474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 462,069
AMORTISATION
At 1 April 2022
and 31 March 2023 462,069
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 54,137 4,000 3,636 61,773
DEPRECIATION
At 1 April 2022 53,292 1,952 2,782 58,026
Charge for year 194 410 213 817
At 31 March 2023 53,486 2,362 2,995 58,843
NET BOOK VALUE
At 31 March 2023 651 1,638 641 2,930
At 31 March 2022 845 2,048 854 3,747

M S Pharmacy Limited (Registered number: 04024474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 387,047
NET BOOK VALUE
At 31 March 2023 387,047
At 31 March 2022 387,047

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,757 75,609
Other debtors 13,764 10,989
92,521 86,598

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 149,421 155,208
Taxation and social security 2,379 3,637
Other creditors 24,193 23,389
175,993 182,234

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
501 Ordinary A 1 501 501
499 Ordinary B 1 - -
501 501

M S Pharmacy Limited (Registered number: 04024474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 6,972 499,000 499 506,471
Profit for the year 13,534 - - 13,534
Dividends (2,000 ) - - (2,000 )
At 31 March 2023 18,506 499,000 499 518,005

During the year ended 31 March 2020 the company was reorganised and a demerger took place. The Ordinary shares were redesignated as 'A Ordinary Shares' and a new class of shares ('B Ordinary Shares') was created. 499 of the A Ordinary shares were then reclassified as B Ordinary shares leaving 501 A Ordinary shares. The two different share classes held rights over different parts of the Company's trade and assets.

The trade and assets attributed to the B Ordinary shares were transferred to H S Pharma (Bristol) Ltd (a newco) in exchange for 499 new Ordinary £1 shares in that company - a distribution in specie.

The 499 B Ordinary shares in M S Pharmacy Ltd were then purchased by the company and subsequently cancelled.