Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 3 | ||||||
Tangible assets | 4 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Share premium | |||||||
Profit and loss account | |||||||
Shareholder's funds | |||||||
Sam Hedayati | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Freehold buildings | Nil | |||||||
Buildings | 10% on cost | |||||||
Plant and machinery | 25% on cost | |||||||
Fixtures and fittings | 25% on cost | |||||||
Office equipment | 33% on cost | |||||||
Goodwill | ||||||||
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities, and contingent liabilities of the entity recognized at the date of acquisition. Goodwill is initially recognized as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. It is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. | ||||||||
Amortisation | ||||||||
Amortisation is provided on intangible assets to write off the cost, less any estimated residual value, over their useful life as follows: | ||||||||
Asset Class | Amortisation method and rate | |||||||
Goodwill | 5% on cost | |||||||
Cash and cash equivalents | ||||||||
Cash and cash equivalents consist of cash on hand, call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. | ||||||||
Stocks | ||||||||
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labor costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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. |
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Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Borrowings | ||||||||
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
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Leases | ||||||||
Share Capital | ||||||||
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 August 2022 | ||||||||
At 31 July 2023 | ||||||||
Amortisation | ||||||||
At 1 August 2022 | ||||||||
Provided during the year | ||||||||
At 31 July 2023 | ||||||||
Net book value | ||||||||
At 31 July 2023 | ||||||||
At 31 July 2022 | ||||||||
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. | ||||||||
4 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 August 2022 | ||||||||
At 31 July 2023 | ||||||||
Depreciation | ||||||||
At 1 August 2022 | ||||||||
Charge for the year | - | |||||||
At 31 July 2023 | ||||||||
Net book value | ||||||||
At 31 July 2023 | - | |||||||
At 31 July 2022 | - | |||||||
5 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Accruals | 2,750 | 2,750 | ||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | ||||||||
8 | Other information | |||||||
SPRINGFIELD PHARMACY (RICHMOND) LIMITED is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
277-279 Chiswick High Road | ||||||||
London | ||||||||
W4 4PU |