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COMPANY REGISTRATION NUMBER: 11643777
Thornes Pharma Holdings Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Thornes Pharma Holdings Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Officers and professional advisers
1
Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Thornes Pharma Holdings Limited
2
Statement of financial position
3
Notes to the financial statements
4
Thornes Pharma Holdings Limited
Officers and Professional Advisers
The board of directors
Mr N J Thorne
Mr D W Fairclough
Registered office
2 Oldfield Road
Bocam Park
United Kingdom
CF35 5LJ
Accountants
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
Thornes Pharma Holdings Limited
Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Thornes Pharma Holdings Limited
Year ended 30 November 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Clay Shaw Thomas Ltd
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
3 July 2024
Thornes Pharma Holdings Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
1,950,000
1,950,000
Current assets
Debtors
5
3,000
3,000
Creditors: amounts falling due within one year
6
7,133
3,904
-------
-------
Net current liabilities
4,133
904
------------
------------
Total assets less current liabilities
1,945,867
1,949,096
------------
------------
Net assets
1,945,867
1,949,096
------------
------------
Capital and reserves
Called up share capital
7
104
104
Other reserves
8
1,950,000
1,950,000
Profit and loss account
8
( 4,237)
( 1,008)
------------
------------
Shareholders funds
1,945,867
1,949,096
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 3 July 2024 , and are signed on behalf of the board by:
Mr N J Thorne
Director
Company registration number: 11643777
Thornes Pharma Holdings Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, CF35 5LJ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future, and conclude that the company has adequate resources to to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
4. Investments
Shares in group
£
Cost
At 1 December 2022 and 30 November 2023
1,950,000
------------
Impairment
At 1 December 2022 and 30 November 2023
------------
Carrying amount
At 30 November 2023
1,950,000
------------
At 30 November 2022
1,950,000
------------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Thornes Pharmacy Limited
Ordinary
100
5. Debtors
2023
2022
£
£
Other debtors
3,000
3,000
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
3,435
Other creditors
3,698
3,904
-------
-------
7,133
3,904
-------
-------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 0.01 each
2,500
25
2,500
25
Ordinary B shares of £ 0.01 each
2,500
25
2,500
25
Ordinary C shares of £ 0.01 each
2,240
22
2,240
22
Ordinary D shares of £ 0.01 each
2,240
22
2,240
22
Ordinary E shares of £ 0.01 each
520
5
520
5
Ordinary H shares of £1 each
4
4
4
4
--------
----
--------
----
10,004
104
10,004
104
--------
----
--------
----
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves represents the fair value in excess of the nominal value of the issued share capital under a group reorganisation.
9. Related party transactions
Thornes Pharmacy Limited is a 100% subsidiary of Thornes Pharma Holdings Limited and as such has taken advantage of the exemption stated in FRS 102 whereby disclosure need not be given of transactions entered into between two or more members of the same group, provided that any subsidiary which is party to the transaction is wholly owned by such member. The company has also taken exemption under the small companies regime from disclosing related party transactions that are either considered immaterial or concluded under normal market conditions.
10. Controlling party
The ultimate controlling party is Mr N J Thorne and Mr D W Fairclough by virtue of their shareholdings.