Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05943949 Dr Haydn Mayo Mrs Sarah Morris Mr Sean Mayo Dr Richard Jones Dr Alison Woolf iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05943949 2022-12-31 05943949 2023-12-31 05943949 2023-01-01 2023-12-31 05943949 frs-core:CurrentFinancialInstruments 2023-12-31 05943949 frs-core:ComputerEquipment 2023-12-31 05943949 frs-core:ComputerEquipment 2023-01-01 2023-12-31 05943949 frs-core:ComputerEquipment 2022-12-31 05943949 frs-core:FurnitureFittings 2023-12-31 05943949 frs-core:FurnitureFittings 2023-01-01 2023-12-31 05943949 frs-core:FurnitureFittings 2022-12-31 05943949 frs-core:NetGoodwill 2023-12-31 05943949 frs-core:NetGoodwill 2023-01-01 2023-12-31 05943949 frs-core:NetGoodwill 2022-12-31 05943949 frs-core:MotorVehicles 2023-12-31 05943949 frs-core:MotorVehicles 2023-01-01 2023-12-31 05943949 frs-core:MotorVehicles 2022-12-31 05943949 frs-core:PlantMachinery 2023-12-31 05943949 frs-core:PlantMachinery 2023-01-01 2023-12-31 05943949 frs-core:PlantMachinery 2022-12-31 05943949 frs-core:CapitalRedemptionReserve 2023-12-31 05943949 frs-core:ShareCapital 2023-12-31 05943949 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05943949 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05943949 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05943949 frs-bus:SmallEntities 2023-01-01 2023-12-31 05943949 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05943949 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05943949 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05943949 frs-bus:OrdinaryShareClass1 2023-12-31 05943949 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 05943949 frs-bus:OrdinaryShareClass3 2023-12-31 05943949 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 05943949 frs-bus:OrdinaryShareClass4 2023-12-31 05943949 frs-bus:Director1 2023-01-01 2023-12-31 05943949 frs-bus:Director2 2023-01-01 2023-12-31 05943949 frs-bus:Director3 2023-01-01 2023-12-31 05943949 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 05943949 frs-bus:CompanySecretary2 2023-01-01 2023-12-31 05943949 frs-core:CurrentFinancialInstruments 2 2023-12-31 05943949 frs-core:CurrentFinancialInstruments 3 2023-12-31 05943949 frs-countries:EnglandWales 2023-01-01 2023-12-31 05943949 2021-12-31 05943949 2022-12-31 05943949 2022-01-01 2022-12-31 05943949 frs-core:CurrentFinancialInstruments 2022-12-31 05943949 frs-core:CapitalRedemptionReserve 2022-12-31 05943949 frs-core:ShareCapital 2022-12-31 05943949 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 05943949 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05943949 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 05943949 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31 05943949 frs-core:CurrentFinancialInstruments 2 2022-12-31 05943949 frs-core:CurrentFinancialInstruments 3 2022-12-31
Registered number: 05943949
Insync Healthcare Pharmacy Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05943949
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,781 4,755
5,781 4,755
CURRENT ASSETS
Stocks 6 54,748 36,230
Debtors 7 393,958 341,473
Cash at bank and in hand 307,235 317,069
755,941 694,772
Creditors: Amounts Falling Due Within One Year 8 (467,854 ) (428,698 )
NET CURRENT ASSETS (LIABILITIES) 288,087 266,074
TOTAL ASSETS LESS CURRENT LIABILITIES 293,868 270,829
PROVISIONS FOR LIABILITIES
Deferred Taxation (990 ) (482 )
NET ASSETS 292,878 270,347
CAPITAL AND RESERVES
Called up share capital 9 6 6
Capital redemption reserve 1 1
Profit and Loss Account 292,871 270,340
SHAREHOLDERS' FUNDS 292,878 270,347
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Haydn Mayo
Director
24/04/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Insync Healthcare Pharmacy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05943949 . The registered office is 67 Thornhill Road, Llanishen, Cardiff, South Glamorgan, CF14 6PE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is recognised on the amounts paid on acquisition. It is amortised to profit and loss account over its estimated economic life of 7 years.
Goodwill has been fully amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Straight line
Computer Equipment 33% Straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 3 2
Sales, marketing and distribution 16 17
19 19
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 265,000
As at 31 December 2023 265,000
Amortisation
As at 1 January 2023 265,000
As at 31 December 2023 265,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 9,380 16,870 40,958 1,728 68,936
Additions - - - 4,246 4,246
Disposals (1,620 ) (10,190 ) (18,815 ) - (30,625 )
As at 31 December 2023 7,760 6,680 22,143 5,974 42,557
Depreciation
As at 1 January 2023 7,552 14,958 40,958 713 64,181
Provided during the period 486 223 - 1,387 2,096
Disposals (1,516 ) (9,170 ) (18,815 ) - (29,501 )
As at 31 December 2023 6,522 6,011 22,143 2,100 36,776
Net Book Value
As at 31 December 2023 1,238 669 - 3,874 5,781
As at 1 January 2023 1,828 1,912 - 1,015 4,755
6. Stocks
2023 2022
£ £
Stock 54,748 36,230
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 330,137 287,686
Prepayments and accrued income 9,584 7,226
Other debtors 9,168 3,300
VAT 45,069 43,261
393,958 341,473
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 283,267 243,042
Corporation tax 20,278 16,689
Other taxes and social security - 14,658
Other creditors 4,013 6,834
NHS Advance 153,635 133,773
Shareholders account 203 203
Accrued expenses 4,472 12,137
Directors' loan accounts 1,986 1,362
467,854 428,698
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
400 Ordinary Shares of £ 0.01 each 4 4
100 Ordinary B shares of £ 0.01 each 1 1
100 Ordinary C shares of £ 0.01 each 1 1
6 6
The previous year share capital has been restated. 
10. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 51,519 49,715
11. Related Party Transactions
At the balance sheet date the company owed £1,986 to the Directors (2022: £1,362 ).
During the year, the company paid dividends totalling £51,519 (2022: £49,715).
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