Company registration number 13508110 (England and Wales)
SD PHARMACY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SD PHARMACY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SD PHARMACY LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
821,664
565,815
Tangible assets
4
80,863
60,867
902,527
626,682
Current assets
Stocks
120,000
60,000
Debtors
5
304,370
201,445
Cash at bank and in hand
637
233,048
425,007
494,493
Creditors: amounts falling due within one year
6
(1,303,719)
(672,338)
Net current liabilities
(878,712)
(177,845)
Total assets less current liabilities
23,815
448,837
Creditors: amounts falling due after more than one year
7
(433,112)
(437,818)
Net (liabilities)/assets
(409,297)
11,019
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(409,397)
10,919
Total equity
(409,297)
11,019

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SD PHARMACY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
Dr C  Hornung
Dr T A Norbury
Director
Director
Company registration number 13508110 (England and Wales)
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

SD Pharmacy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Reporting period

The previous accounting period was 1 August 2022 to 31 March 2023 and so represented a period of shorter than a year. The current accounting period is a full year from 1 March 2023 to 31 March 2024. Due to this, comparative amounts presented (including the related notes) may not be entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Going concern

The company meets its day to day working capital requirements through continued financial support from its parent company.

 

On the basis of continued support from the parent company, the board consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of these loans.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% straight line
Fixtures and fittings
10% straight line
Computers
20% reducing balance
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
9
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
639,188
Additions
352,038
At 31 March 2024
991,226
Amortisation and impairment
At 1 April 2023
73,373
Amortisation charged for the year
96,189
At 31 March 2024
169,562
Carrying amount
At 31 March 2024
821,664
At 31 March 2023
565,815
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
71,765
Additions
28,730
At 31 March 2024
100,495
Depreciation and impairment
At 1 April 2023
10,898
Depreciation charged in the year
8,734
At 31 March 2024
19,632
Carrying amount
At 31 March 2024
80,863
At 31 March 2023
60,867
SD PHARMACY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
189,869
166,114
Other debtors
114,501
35,331
304,370
201,445
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
59,390
26,280
Trade creditors
393,392
277,275
Amounts owed to group undertakings
833,886
333,834
Taxation and social security
5,147
12,213
Other creditors
11,904
22,736
1,303,719
672,338

The bank loan of £20,033 (2023: £26,280) is secured by way of joint and several personal guarantee of the directors of the company and fixed and floating charges over the assets of the company.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
433,112
437,818

The bank loan of £433,112 (2023: £437,818) is secured by way of joint and several personal guarantee of the directors of the company and fixed and floating charges over the assets of the company.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
352,980
332,699
2024-03-312023-04-01false13 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityDr C HornungDr T A NorburyDr C SteidlDr W J HarrisDr S Johnsonfalsefalse135081102023-04-012024-03-31135081102024-03-31135081102023-03-3113508110core:NetGoodwill2024-03-3113508110core:NetGoodwill2023-03-3113508110core:OtherPropertyPlantEquipment2024-03-3113508110core:OtherPropertyPlantEquipment2023-03-3113508110core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3113508110core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113508110core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3113508110core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3113508110core:CurrentFinancialInstruments2024-03-3113508110core:CurrentFinancialInstruments2023-03-3113508110core:ShareCapital2024-03-3113508110core:ShareCapital2023-03-3113508110core:RetainedEarningsAccumulatedLosses2024-03-3113508110core:RetainedEarningsAccumulatedLosses2023-03-3113508110bus:Director12023-04-012024-03-3113508110bus:Director22023-04-012024-03-3113508110core:Goodwill2023-04-012024-03-3113508110core:PlantMachinery2023-04-012024-03-3113508110core:FurnitureFittings2023-04-012024-03-3113508110core:ComputerEquipment2023-04-012024-03-31135081102022-08-012023-03-3113508110core:NetGoodwill2023-03-3113508110core:NetGoodwill2023-04-012024-03-3113508110core:OtherPropertyPlantEquipment2023-03-3113508110core:OtherPropertyPlantEquipment2023-04-012024-03-3113508110core:WithinOneYear2024-03-3113508110core:WithinOneYear2023-03-3113508110core:Non-currentFinancialInstruments2024-03-3113508110core:Non-currentFinancialInstruments2023-03-3113508110bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113508110bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113508110bus:FRS1022023-04-012024-03-3113508110bus:AuditExemptWithAccountantsReport2023-04-012024-03-3113508110bus:Director32023-04-012024-03-3113508110bus:Director42023-04-012024-03-3113508110bus:Director52023-04-012024-03-3113508110bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP