REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
The Milngavie Apothecary's Company |
Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Investments | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 October 2022 |
Disposals | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
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 |
Other debtors |
Accrued income | 412 | 2,079 |
Sundry Debtor | 110,363 | - |
Directors' current accounts | - | 58,628 |
Tax |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Tax |
Aggregate amounts |
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 |
Social security and other taxes |
Directors' current accounts | 874 | - |
Accrued expenses |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.23 | 30.9.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
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. |