Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-3032022-10-01falsecommunity pharmacy6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05485193 2022-10-01 2023-09-30 05485193 2021-10-01 2022-09-30 05485193 2023-09-30 05485193 2022-09-30 05485193 2021-10-01 05485193 c:Director1 2022-10-01 2023-09-30 05485193 d:PlantMachinery 2022-10-01 2023-09-30 05485193 d:PlantMachinery 2023-09-30 05485193 d:PlantMachinery 2022-09-30 05485193 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05485193 d:Goodwill 2022-10-01 2023-09-30 05485193 d:Goodwill 2023-09-30 05485193 d:Goodwill 2022-09-30 05485193 d:CurrentFinancialInstruments 2023-09-30 05485193 d:CurrentFinancialInstruments 2022-09-30 05485193 d:CurrentFinancialInstruments 1 2023-09-30 05485193 d:CurrentFinancialInstruments 1 2022-09-30 05485193 d:Non-currentFinancialInstruments 2023-09-30 05485193 d:Non-currentFinancialInstruments 2022-09-30 05485193 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 05485193 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 05485193 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 05485193 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 05485193 d:UKTax 2022-10-01 2023-09-30 05485193 d:UKTax 2021-10-01 2022-09-30 05485193 d:ShareCapital 2022-10-01 2023-09-30 05485193 d:ShareCapital 2023-09-30 05485193 d:ShareCapital 2021-10-01 2022-09-30 05485193 d:ShareCapital 2022-09-30 05485193 d:ShareCapital 2021-10-01 05485193 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 05485193 d:RetainedEarningsAccumulatedLosses 2023-09-30 05485193 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 05485193 d:RetainedEarningsAccumulatedLosses 2022-09-30 05485193 d:RetainedEarningsAccumulatedLosses 2021-10-01 05485193 c:FRS102 2022-10-01 2023-09-30 05485193 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 05485193 c:FullAccounts 2022-10-01 2023-09-30 05485193 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05485193 2 2022-10-01 2023-09-30 05485193 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 05485193 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 05485193










CORKERS PHARMACY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CORKERS PHARMACY LIMITED
REGISTERED NUMBER: 05485193

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
14,797
15,808

  
14,797
15,808

Current assets
  

Stocks
  
35,921
38,678

Debtors: amounts falling due within one year
 7 
109,328
95,046

Cash at bank and in hand
  
1,257
402

  
146,506
134,126

Creditors: amounts falling due within one year
 8 
(141,771)
(168,425)

Net current assets/(liabilities)
  
 
 
4,735
 
 
(34,299)

Total assets less current liabilities
  
19,532
(18,491)

Creditors: amounts falling due after more than one year
 9 
(30,204)
(34,086)

Provisions for liabilities
  

Deferred tax
 10 
(2,709)
(2,881)

  
 
 
(2,709)
 
 
(2,881)

Net liabilities
  
(13,381)
(55,458)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(13,382)
(55,459)

  
(13,381)
(55,458)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
CORKERS PHARMACY LIMITED
REGISTERED NUMBER: 05485193
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mrs L Corker
Director
Date: 13 February 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
CORKERS PHARMACY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2021
1
(38,842)
(38,841)


Comprehensive income for the year

Loss for the year
-
(16,617)
(16,617)
Total comprehensive income for the year
-
(16,617)
(16,617)


Total transactions with owners
-
-
-



At 1 October 2022
1
(55,459)
(55,458)


Comprehensive income for the year

Profit for the year
-
42,077
42,077
Total comprehensive income for the year
-
42,077
42,077


At 30 September 2023
-
-
-


At 30 September 2023
1
(13,382)
(13,381)


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Corkers Pharmacy Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 05485193. The address of the registered office is 14 - 16 Buttermarket Street, Warrington, Cheshire, WA1 2LR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholder. The shareholder of the company has sufficient resources to finance the company as and when the need arises.
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholders to ensure that the company will continue in operational existence for the foreseeable future.

Page 4

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 October 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 6

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Intangible assets

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 6).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
1,631
-


1,631
-


Total current tax
1,631
-

Deferred tax


Origination and reversal of timing differences
(170)
(562)

Total deferred tax
(170)
(562)


Taxation on profit/(loss) on ordinary activities
1,461
(562)

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).


Page 8

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
4.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Intangible assets




Goodwill

£



Cost


At 1 October 2022
60,000



At 30 September 2023

60,000



Amortisation


At 1 October 2022
60,000



At 30 September 2023

60,000



Net book value



At 30 September 2023
-



At 30 September 2022
-



Page 9

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Tangible fixed assets





Plant and machinery & equipment

£



Cost or valuation


At 1 October 2022
122,375


Additions
2,690



At 30 September 2023

125,065



Depreciation


At 1 October 2022
106,568


Charge for the year on owned assets
3,700



At 30 September 2023

110,268



Net book value



At 30 September 2023
14,797



At 30 September 2022
15,808


7.


Debtors

2023
2022
£
£


Trade debtors
48,783
37,095

Amounts owed by associated undertaking
49,407
45,462

VAT repayable
10,572
10,211

Corporation tax repayable
-
1,276

Prepayments
566
1,002

109,328
95,046


Page 10

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
42,328
44,356

Bank loans
12,143
18,981

Trade creditors
58,187
68,938

Corporation tax
1,631
-

Other taxation and social security
1,929
833

Pension payable
43
203

Director's loan account
25,510
35,114

141,771
168,425


The bank loan was secured by fixed and floating charges over the assets of the company. 


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
30,204
34,086

30,204
34,086


The bank loan was secured by fixed and floating charges over the assets of the company

Page 11

 
CORKERS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(2,880)


Charged to profit or loss
170



At end of year
(2,710)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,710)
(2,880)

(2,710)
(2,880)


11.


Controlling party

The company was under the control of the director Mrs L Corker, by virtue of the fact that she owns 100% of the issued share capital. 

 
Page 12