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REGISTERED NUMBER: SC230368 (Scotland)















Financial Statements For The Year Ended 30 June 2023

for

Killearn Pharmacy Ltd.

Killearn Pharmacy Ltd. (Registered number: SC230368)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Killearn Pharmacy Ltd.

Company Information
For The Year Ended 30 June 2023







DIRECTORS: W G Forsyth
Miss A L M Stuart





REGISTERED OFFICE: 13 Balfron Road
Killearn
Glasgow
G63 9NN





REGISTERED NUMBER: SC230368 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Killearn Pharmacy Ltd. (Registered number: SC230368)

Abridged Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,794 34,048

CURRENT ASSETS
Stocks 58,658 61,387
Debtors 156,823 186,060
Cash at bank and in hand 145,869 118,142
361,350 365,589
CREDITORS
Amounts falling due within one year 198,338 210,170
NET CURRENT ASSETS 163,012 155,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,806

189,467

CREDITORS
Amounts falling due after more than one
year

(5,520

)

(8,400

)

PROVISIONS FOR LIABILITIES (4,987 ) (6,294 )
NET ASSETS 180,299 174,773

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 180,199 174,673
180,299 174,773

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

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

Killearn Pharmacy Ltd. (Registered number: SC230368)

Abridged Statement of Financial Position - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





Miss A L M Stuart - Director


Killearn Pharmacy Ltd. (Registered number: SC230368)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Killearn Pharmacy Ltd. 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.

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


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Killearn Pharmacy Ltd. (Registered number: SC230368)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 165,987
DEPRECIATION
At 1 July 2022 131,939
Charge for year 6,254
At 30 June 2023 138,193
NET BOOK VALUE
At 30 June 2023 27,794
At 30 June 2022 34,048

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 2,880 2,880
Between one and five years 5,520 8,400
8,400 11,280

Non-cancellable operating leases
2023 2022
£    £   
Within one year 14,980 14,980
Between one and five years 59,920 59,920
In more than five years 52,430 67,410
127,330 142,310

Killearn Pharmacy Ltd. (Registered number: SC230368)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 8,400 11,280

Unity Trust Bank PLC hold a floating charge, which contains a negative pledge, over the company's assets.

7. ULTIMATE CONTROLLING PARTY

Alxpharm Ltd owns 100% of the share capital of the company. The ultimate controlling parties are Mr William Forsyth and Miss Alexandra Stuart.