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Registered number: 13681455
Ruby Pharmacy Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Xeinadin South Wales & West Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13681455
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 724,910 778,607
Tangible Assets 5 9,512 11,917
734,422 790,524
CURRENT ASSETS
Stocks 6 28,809 35,000
Debtors 7 189,553 158,803
Cash at bank and in hand 51,092 56,430
269,454 250,233
Creditors: Amounts Falling Due Within One Year 8 (496,375 ) (553,931 )
NET CURRENT ASSETS (LIABILITIES) (226,921 ) (303,698 )
TOTAL ASSETS LESS CURRENT LIABILITIES 507,501 486,826
Creditors: Amounts Falling Due After More Than One Year 9 (487,156 ) (496,870 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (871 )
NET ASSETS/(LIABILITIES) 20,345 (10,915 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 20,245 (11,015 )
SHAREHOLDERS' FUNDS 20,345 (10,915)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Valerie Mackay
Director
23/01/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ruby Pharmacy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13681455 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on a reducing balance basis
Computer Equipment 33% on a straight line basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 805,456
As at 31 October 2023 805,456
Amortisation
As at 1 November 2022 26,849
Provided during the period 53,697
As at 31 October 2023 80,546
Net Book Value
As at 31 October 2023 724,910
As at 1 November 2022 778,607
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 13,000 - 13,000
Additions - 791 791
As at 31 October 2023 13,000 791 13,791
Depreciation
As at 1 November 2022 1,083 - 1,083
Provided during the period 2,979 217 3,196
As at 31 October 2023 4,062 217 4,279
Net Book Value
As at 31 October 2023 8,938 574 9,512
As at 1 November 2022 11,917 - 11,917
Page 4
Page 5
6. Stocks
31 October 2023 31 October 2022
£ £
Stock 28,809 35,000
7. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Trade debtors 162,805 121,480
Other debtors - 1,412
VAT 26,045 35,911
Other taxes and social security 703 -
189,553 158,803
8. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 86,195 123,944
Bank loans and overdrafts 68 -
Corporation tax 27,964 4,734
Other taxes and social security - 574
Net wages 9,168 -
Other creditors 77,228 50,897
Pension creditor 193 93
Accrued expenses 2,242 1,954
Directors' loan accounts 293,317 371,735
496,375 553,931
9. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Bank loans 487,156 496,870
487,156 496,870
10. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
As at the balance sheet date, the company owes the directors £293,317.
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12. Ultimate Controlling Party
The company's ultimate controlling party are Miss Valerie Mackay and Mr Richard Smyth by virtue of there ownership of 100% of the issued share capital in the company.
Page 6