Registered number
07829630
Aman Pharmacy (J.A. Jones) Limited
Filleted Accounts
31 December 2023
Cross and Bowen
Chartered Certified Acountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Aman Pharmacy (J.A. Jones) Limited
Registered number: 07829630
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 12,637 2,840
Current assets
Stocks 19,000 18,570
Debtors 5 72,440 66,124
Cash at bank and in hand 71,495 87,426
162,935 172,120
Creditors: amounts falling due within one year 6 (134,501) (103,437)
Net current assets 28,434 68,683
Total assets less current liabilities 41,071 71,523
Provisions for liabilities (2,401) (292)
Net assets 38,670 71,231
Capital and reserves
Called up share capital 2 2
Profit and loss account 38,668 71,229
Shareholders' funds 38,670 71,231
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J.A. Jones
Director
Approved by the board on 9 May 2024
Aman Pharmacy (J.A. Jones) Limited
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 20% straight line
Fixtures, fittings, tools and equipment 25% straight line
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 650,000
At 31 December 2023 650,000
Amortisation
At 1 January 2023 650,000
At 31 December 2023 650,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 8,133 23,867 32,000
Additions 1,069 10,000 11,069
Disposals - (23,867) (23,867)
At 31 December 2023 9,202 10,000 19,202
Depreciation
At 1 January 2023 5,294 23,866 29,160
Charge for the year 958 313 1,271
On disposals - (23,866) (23,866)
At 31 December 2023 6,252 313 6,565
Net book value
At 31 December 2023 2,950 9,687 12,637
At 31 December 2022 2,839 1 2,840
5 Debtors 2023 2022
£ £
Trade debtors 64,505 57,988
Other debtors 7,935 8,136
72,440 66,124
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 114,011 82,489
Taxation and social security costs 15,786 16,482
Other creditors 4,704 4,466
134,501 103,437
7 Other information
Aman Pharmacy (J.A. Jones) Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Riverside House
Normandy Road
Swansea
SA1 2JA
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