Colyton Pharmacy Limited 04733475 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of dispensing Pharmacy and retail chemist product sales Digita Accounts Production Advanced 6.30.9574.0 true true 04733475 2023-04-01 2024-03-31 04733475 2024-03-31 04733475 bus:OrdinaryShareClass1 2024-03-31 04733475 core:CurrentFinancialInstruments 2024-03-31 04733475 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04733475 core:FurnitureFittingsToolsEquipment 2024-03-31 04733475 core:ParentEntities 2024-03-31 04733475 bus:SmallEntities 2023-04-01 2024-03-31 04733475 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04733475 bus:FilletedAccounts 2023-04-01 2024-03-31 04733475 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04733475 bus:RegisteredOffice 2023-04-01 2024-03-31 04733475 bus:Director7 2023-04-01 2024-03-31 04733475 bus:Director8 2023-04-01 2024-03-31 04733475 bus:Director9 2023-04-01 2024-03-31 04733475 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04733475 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04733475 core:Goodwill 2023-04-01 2024-03-31 04733475 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04733475 core:LandBuildings 2023-04-01 2024-03-31 04733475 core:ParentEntities 2023-04-01 2024-03-31 04733475 countries:EnglandWales 2023-04-01 2024-03-31 04733475 2023-03-31 04733475 core:FurnitureFittingsToolsEquipment 2023-03-31 04733475 core:ParentEntities 2023-03-31 04733475 2022-04-01 2023-03-31 04733475 2023-03-31 04733475 bus:OrdinaryShareClass1 2023-03-31 04733475 core:CurrentFinancialInstruments 2023-03-31 04733475 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04733475 core:FurnitureFittingsToolsEquipment 2023-03-31 04733475 core:ParentEntities 2023-03-31 04733475 core:ParentEntities 2022-04-01 2023-03-31 04733475 2022-03-31 04733475 core:ParentEntities 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04733475

Colyton Pharmacy Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Colyton Pharmacy Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Colyton Pharmacy Limited

Company Information

Directors

Mr I F Jimenez

Mr A Aguado

Ms C A Sanchez

Registered office

Market Place
Colyton
Devon
EX24 6JS

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Colyton Pharmacy Limited

(Registration number: 04733475)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,244

9,699

Current assets

 

Stocks

6

35,000

35,000

Debtors

7

826,118

827,777

Cash at bank and in hand

 

263,749

313,896

 

1,124,867

1,176,673

Creditors: Amounts falling due within one year

(117,390)

(159,435)

Net current assets

 

1,007,477

1,017,238

Total assets less current liabilities

 

1,015,721

1,026,937

Provisions for liabilities

(1,566)

-

Accruals and deferred income

 

(3,020)

(3,369)

Net assets

 

1,011,135

1,023,568

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,011,035

1,023,468

Shareholders' funds

 

1,011,135

1,023,568

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.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 July 2024 and signed on its behalf by:
 

 

Colyton Pharmacy Limited

(Registration number: 04733475)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mr I F Jimenez
Director

 

Colyton Pharmacy Limited

Notes to the Unaudited Abridged 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:
Market Place
Colyton
Devon
EX24 6JS

The principal place of business is:
Market Place
Colyton
Devon
EX24 6JS

These financial statements were authorised for issue by the Board on 19 July 2024.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current 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.

 

Colyton Pharmacy Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

10% Straight Line Basis

Fixtures, Fittings & Equipment

15% on Net Book Value

Goodwill

Goodwill comprises of amounts acquired from a connected party which has subsequently been revalued. The directors consider the carrying value to represent the fair value.

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 merchandise sold 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.

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.

 

Colyton Pharmacy Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 10 (2023 - 12).

 

Colyton Pharmacy Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

428,000

At 31 March 2024

428,000

Amortisation

At 1 April 2023

428,000

At 31 March 2024

428,000

Carrying amount

At 31 March 2024

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

57,309

57,309

At 31 March 2024

57,309

57,309

Depreciation

At 1 April 2023

47,610

47,610

Charge for the year

1,455

1,455

At 31 March 2024

49,065

49,065

Carrying amount

At 31 March 2024

8,244

8,244

At 31 March 2023

9,699

9,699

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

35,000

35,000

 

Colyton Pharmacy Limited

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

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.01 each

10,000

100

10,000

100

       

9

Related party transactions

Transactions with directors

Summary of transactions with parent

Colytonph Ltd
 Loan
 

Loans to related parties

2024

Parent
£

Total
£

At start of period

714,891

714,891

Advanced

86,304

86,304

Repaid

(55,200)

(55,200)

At end of period

745,995

745,995

2023

Parent
£

Total
£

At start of period

661,891

661,891

Advanced

86,400

86,400

Repaid

(33,400)

(33,400)

At end of period

714,891

714,891