Registered number
06734380
Apotek Limited
Filleted Accounts
31 October 2023
Apotek Limited
Registered number: 06734380
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 455,932 483,061
Investments 4 304,920 304,920
760,852 787,981
Current assets
Stocks 29,369 28,534
Debtors 5 450,038 635,394
Cash at bank and in hand 412,493 543,131
891,900 1,207,059
Creditors: amounts falling due within one year 6 (371,512) (509,354)
Net current assets 520,388 697,705
Total assets less current liabilities 1,281,240 1,485,686
Creditors: amounts falling due after more than one year 7 - (181,037)
Provisions for liabilities (17,161) (18,178)
Net assets 1,264,079 1,286,471
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,263,979 1,286,371
Shareholder's funds 1,264,079 1,286,471
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Parker
Director
Approved by the board on 31 July 2024
Apotek Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Shop fittings over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Land and buildings Shop fittings Plant and machinery Total
£ £ £ £
Cost
At 1 November 2022 385,721 20,215 177,360 583,296
Additions - - 292 292
At 31 October 2023 385,721 20,215 177,652 583,588
Depreciation
At 1 November 2022 - 20,214 80,021 100,235
Charge for the year - - 27,421 27,421
At 31 October 2023 - 20,214 107,442 127,656
Net book value
At 31 October 2023 385,721 1 70,210 455,932
At 31 October 2022 385,721 1 97,339 483,061
Freehold land and buildings: 2023 2022
£ £
Historical cost 385,721 385,721
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 November 2022 304,920 - 304,920
Additions - - -
At 31 October 2023 304,920 - 304,920
Historical cost
At 1 November 2022 - -
At 31 October 2023 304,920 -
5 Debtors 2023 2022
£ £
Trade debtors 350,967 350,932
Amounts owed by associated company 49,451 48,880
Other debtors 49,620 235,582
450,038 635,394
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 10,200
Trade creditors 201,887 256,493
Director's loan account 36,664 47,429
Taxation and social security costs 47,455 121,284
Other creditors 85,506 73,948
371,512 509,354
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank and other loans - 181,037
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - 140,237
- 140,237
Secured bank loans - 191,237
The bank loan was secured by a charge on freehold property and book debts of the company. The loan has been repaid in full.
9 Controlling party
The company is controlled by Mr and Mrs D Parker, the director and his wife who own 100% of the shares.
10 Other information
Apotek Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Littledown Avenue
Bournemouth
Dorset
BH7 7AN
The company's principal place of activity is 157 Aldershot Road, Church Crookham, Fleet
GU52 8JS
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