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REGISTERED NUMBER: SC251342 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 September 2023

for

The Milngavie Apothecary's Company
Limited

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Milngavie Apothecary's Company
Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: K J Wilson
G Wilson
C Wilson
S M Wilson
S C Wilson





SECRETARY: Mrs S Wilson





REGISTERED OFFICE: 100 High Street
Linlithgow
West Lothian
EH49 7AQ





REGISTERED NUMBER: SC251342 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 237,318 419,055
Tangible assets 5 312,907 324,630
Investments 6 2,039,696 2,096,696
Investment property 7 851,613 851,613
3,441,534 3,691,994

CURRENT ASSETS
Stocks 360,723 331,958
Debtors 8 596,120 662,365
Investments 9 1,274,071 1,545,552
Cash at bank and in hand 911,229 660,740
3,142,143 3,200,615
CREDITORS
Amounts falling due within one year 10 836,958 810,381
NET CURRENT ASSETS 2,305,185 2,390,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,746,719

6,082,228

CAPITAL AND RESERVES
Called up share capital 3,000,001 3,000,001
Retained earnings 2,746,718 3,082,227
SHAREHOLDERS' FUNDS 5,746,719 6,082,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





K J Wilson - Director


The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

The Milngavie Apothecary's Company Limited is a private company, limited by shares , registered in Scotland. 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.

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 aquisition of business' in 2003 and 2007 was initially measured at cost and is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

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.

Financial instruments
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.

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

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and on deposit with banks.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

Investments
Listed investments are stated at their fair value based on open market prices at the balance sheet date as provided by the company's investment managers. Unlisted investments are valued at fair value by the company's directors.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 3,634,674
AMORTISATION
At 1 October 2022 3,215,619
Charge for year 181,737
At 30 September 2023 3,397,356
NET BOOK VALUE
At 30 September 2023 237,318
At 30 September 2022 419,055

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 100,892 1,382,543 1,483,435
Additions - 216,820 216,820
Disposals - (179,502 ) (179,502 )
At 30 September 2023 100,892 1,419,861 1,520,753
DEPRECIATION
At 1 October 2022 60,858 1,097,947 1,158,805
Charge for year 8,223 136,094 144,317
Eliminated on disposal - (95,276 ) (95,276 )
At 30 September 2023 69,081 1,138,765 1,207,846
NET BOOK VALUE
At 30 September 2023 31,811 281,096 312,907
At 30 September 2022 40,034 284,596 324,630

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022 2,096,696
Disposals (57,000 )
At 30 September 2023 2,039,696
NET BOOK VALUE
At 30 September 2023 2,039,696
At 30 September 2022 2,096,696

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 851,613
NET BOOK VALUE
At 30 September 2023 851,613
At 30 September 2022 851,613

Investment property was valued at fair value on 30 September 2023 by the directors.

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. DEBTORS
30.9.23 30.9.22
£    £   
Amounts falling due within one year:
Trade debtors 350,064 468,826
Other debtors 20,287 18,980
Accrued income 412 2,079
Sundry Debtor 110,363 -
Directors' current accounts - 58,628
Tax 52,175 -
VAT 59,598 58,288
Prepayments and accrued income 3,221 3,237
596,120 610,038

Amounts falling due after more than one year:
Tax - 52,327

Aggregate amounts 596,120 662,365

9. CURRENT ASSET INVESTMENTS
30.9.23 30.9.22
£    £   
Listed investments 1,274,071 1,545,552

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 730,921 713,781
Social security and other taxes 52,999 52,139
Directors' current accounts 874 -
Accrued expenses 52,164 44,461
836,958 810,381

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year 36,040 36,013
Between one and five years 141,900 144,052
In more than five years 40,500 74,247
218,440 254,312

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
K J Wilson
Balance outstanding at start of year 58,628 173,413
Amounts advanced 998 60,128
Amounts repaid (60,500 ) (174,913 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (874 ) 58,628

13. RELATED PARTY DISCLOSURES

The Milngavie Apothecary's Company Limited occupies a retail property in Biggar owned by a partnership in which the director Mr K Wilson has a interest. The partnership has made no charge for this property.

The Milngavie Apothecary's Company Limited has an investment property which is occupied by a director. The company make no charge for the rental of this property.

As at 30 September 2023 The Milngavie Apothecary's Company Limited has a balance due to them from Wilson Grangemouth Limited of £110,363. A director of The Milngavie Apothecary's Company Limited has a controlling interest in that company.