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REGISTRAR OF COMPANIES

Registration number: 04262475

The Green Tree Pharmacy Limited

Unaudited Financial Statements

31 March 2024

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The Green Tree Pharmacy Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Green Tree Pharmacy Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Green Tree Pharmacy Limited for the year ended 31 March 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of The Green Tree Pharmacy Limited, as a body, in accordance with the terms of our engagement letter dated 29 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of The Green Tree Pharmacy Limited and state those matters that we have agreed to state to the Board of Directors of The Green Tree Pharmacy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Green Tree Pharmacy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Green Tree Pharmacy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Green Tree Pharmacy Limited. You consider that The Green Tree Pharmacy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Green Tree Pharmacy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

17 June 2024

 

The Green Tree Pharmacy Limited

(Registration number: 04262475)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

80,286

93,667

Tangible assets

5

34,088

39,682

 

114,374

133,349

Current assets

 

Stocks

48,895

71,278

Debtors

6

85,030

107,776

Cash at bank and in hand

 

95,015

97,100

 

228,940

276,154

Creditors: Amounts falling due within one year

7

(87,729)

(94,383)

Net current assets

 

141,211

181,771

Total assets less current liabilities

 

255,585

315,120

Provisions for liabilities

(5,278)

(6,126)

Net assets

 

250,307

308,994

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

250,207

308,894

Total equity

 

250,307

308,994

 

The Green Tree Pharmacy Limited

(Registration number: 04262475)
Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 June 2024
 

.........................................

S Y Wong

Director

 

The Green Tree Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6-8 Market Street
KIRKBY STEPHEN
CA17 4QS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

The Green Tree Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property improvements

20 years over the term of the lease

Plant and machinery

25% reducing balance basis

Fixtures and fittings

15% reducing balance basis

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 recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill 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 so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and 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.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Green Tree Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

 

The Green Tree Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

247,101

247,101

At 31 March 2024

247,101

247,101

Amortisation

At 1 April 2023

153,434

153,434

Amortisation charge

13,381

13,381

At 31 March 2024

166,815

166,815

Carrying amount

At 31 March 2024

80,286

80,286

At 31 March 2023

93,667

93,667

5

Tangible assets

Leasehold property improvements
£

Plant and machinery
 £

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 April 2023

70,210

25,459

15,300

110,969

Additions

-

950

-

950

At 31 March 2024

70,210

26,409

15,300

111,919

Depreciation

At 1 April 2023

42,493

13,676

15,118

71,287

Charge for the year

3,511

3,006

27

6,544

At 31 March 2024

46,004

16,682

15,145

77,831

Carrying amount

At 31 March 2024

24,206

9,727

155

34,088

At 31 March 2023

27,717

11,783

182

39,682

 

The Green Tree Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

62,173

58,148

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10,971

35,424

Other debtors

11,886

14,204

85,030

107,776

7

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

83,937

90,457

Other creditors

 

3,792

3,926

 

87,729

94,383

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £73,317 (2023 - £84,321). This represents the liability under a lease for a leasehold rental property until 2030.

The total amount of guarantees not included in the balance sheet is £1,886,533 (2023 - £1,888,677). Barclays Bank PLC hold fixed and floating charges in respect of the company's assets. The security relates to a cross company guarantee against bank loans obtained by H & W Pharma Limited (the parent company.)