9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 167,771 167,771 xbrli:pure xbrli:shares iso4217:GBP 04649635 2023-04-01 2024-03-31 04649635 2024-03-31 04649635 2023-03-31 04649635 2022-04-01 2023-03-31 04649635 2023-03-31 04649635 2022-03-31 04649635 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 04649635 core:FurnitureFittings 2023-04-01 2024-03-31 04649635 bus:Director1 2023-04-01 2024-03-31 04649635 bus:Director2 2023-04-01 2024-03-31 04649635 core:NetGoodwill 2024-03-31 04649635 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04649635 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 04649635 core:FurnitureFittings 2023-03-31 04649635 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 04649635 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 04649635 core:FurnitureFittings 2024-03-31 04649635 core:WithinOneYear 2024-03-31 04649635 core:WithinOneYear 2023-03-31 04649635 core:AfterOneYear 2024-03-31 04649635 core:AfterOneYear 2023-03-31 04649635 core:ShareCapital 2024-03-31 04649635 core:ShareCapital 2023-03-31 04649635 core:RetainedEarningsAccumulatedLosses 2024-03-31 04649635 core:RetainedEarningsAccumulatedLosses 2023-03-31 04649635 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04649635 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 04649635 core:FurnitureFittings 2023-03-31 04649635 bus:SmallEntities 2023-04-01 2024-03-31 04649635 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04649635 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04649635 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04649635 bus:FullAccounts 2023-04-01 2024-03-31 04649635 core:ComputerEquipment 2023-04-01 2024-03-31 04649635 core:ComputerEquipment 2023-03-31 04649635 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 04649635
Noak Bridge Pharmacy Limited
Unaudited financial statements
31 March 2024
Noak Bridge Pharmacy Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
199,332
203,367
Current assets
Stocks
29,423
29,595
Debtors
7
86,606
89,755
Cash at bank and in hand
14,307
47,740
---------
---------
130,336
167,090
Creditors: Amounts falling due within one year
8
( 179,797)
( 153,422)
---------
---------
Net current (liabilities)/assets
( 49,461)
13,668
---------
---------
Total assets less current liabilities
149,871
217,035
Creditors: Amounts falling due after more than one year
9
( 38,063)
( 61,425)
Provisions
Taxation including deferred tax
( 1,285)
( 2,294)
---------
---------
Net assets
110,523
153,316
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
110,519
153,312
---------
---------
Shareholders funds
110,523
153,316
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Noak Bridge Pharmacy Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
B M Gandecha
Mrs S Gandecha
Director
Director
Company registration number: 04649635
Noak Bridge Pharmacy Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The trading address is 147 Coppice Lane, Basildon, SS15 4JS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 9 (2023: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
167,771
---------
Amortisation
At 1 April 2023 and 31 March 2024
167,771
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
6. Tangible assets
Freehold property
Short leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
195,000
84,508
8,704
14,192
302,404
Additions
1,955
1,955
---------
-------
------
-------
---------
At 31 March 2024
195,000
84,508
8,704
16,147
304,359
---------
-------
------
-------
---------
Depreciation
At 1 April 2023
77,923
8,150
12,964
99,037
Charge for the year
4,386
191
1,413
5,990
---------
-------
------
-------
---------
At 31 March 2024
82,309
8,341
14,377
105,027
---------
-------
------
-------
---------
Carrying amount
At 31 March 2024
195,000
2,199
363
1,770
199,332
---------
-------
------
-------
---------
At 31 March 2023
195,000
6,585
554
1,228
203,367
---------
-------
------
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
76,630
78,617
Other debtors
9,976
11,138
-------
-------
86,606
89,755
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31,979
23,003
Trade creditors
107,890
108,040
Social security and other taxes
7,236
15,642
Other creditors
32,692
6,737
---------
---------
179,797
153,422
---------
---------
Bank loans and overdrafts are secured by the directors personally.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
38,063
61,425
-------
-------
Bank loans and overdrafts are secured by the directors personally.
10. Directors' advances, credits and guarantees
During the year, the company operated an interest free loan with the directors. As at 31 March 2024, the company owed the directors £12,818 (2023: £1,742 owed by the company to the directors).