Company Registration No. SC303485 (Scotland)
Conon Bridge Pharmacy Ltd
Unaudited accounts
for the year ended 30 November 2023
Conon Bridge Pharmacy Ltd
Unaudited accounts
Contents
Conon Bridge Pharmacy Ltd
Company Information
for the year ended 30 November 2023
Company Number
SC303485 (Scotland)
Registered Office
12a High Street
Conon Bridge
Dingwall
Ross-Shire
IV7 8HA
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Conon Bridge Pharmacy Ltd
Statement of financial position
as at 30 November 2023
Intangible assets
480,650
-
Tangible assets
373,196
238,624
Inventories
164,502
121,480
Cash at bank and in hand
132,720
150,398
Creditors: amounts falling due within one year
(537,391)
(417,048)
Net current assets
233,587
262,310
Total assets less current liabilities
1,087,433
500,934
Creditors: amounts falling due after more than one year
(870,181)
(263,467)
Provisions for liabilities
Deferred tax
(66,312)
(47,550)
Net assets
150,940
189,917
Called up share capital
100
100
Profit and loss account
150,840
189,817
Shareholders' funds
150,940
189,917
For the year ending 30 November 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 August 2024 and were signed on its behalf by
A Horsburgh
Director
Company Registration No. SC303485
Conon Bridge Pharmacy Ltd
Notes to the Accounts
for the year ended 30 November 2023
Conon Bridge Pharmacy Ltd is a private company, limited by shares, registered in Scotland, registration number SC303485. The registered office is 12a High Street, Conon Bridge, Dingwall, Ross-Shire, IV7 8HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
10% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
15% and 25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill has been amortised on a straight line basis over the estimated useful life of the asset (5 years).
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Conon Bridge Pharmacy Ltd
Notes to the Accounts
for the year ended 30 November 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Intangible fixed assets
Total
At 1 December 2022
281,854
At 30 November 2023
787,801
At 1 December 2022
281,854
Charge for the year
25,297
At 30 November 2023
307,151
At 30 November 2023
480,650
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Tangible fixed assets
Total
At 1 December 2022
323,612
At 30 November 2023
488,382
Charge for the year
41,471
At 30 November 2023
115,186
At 30 November 2023
373,196
At 30 November 2022
238,624
Conon Bridge Pharmacy Ltd
Notes to the Accounts
for the year ended 30 November 2023
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
15,026
19,326
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Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
2,800
Later than one year and not later than five years
44,917
60,717
Later than five years
143,500
-
Included in other debtors is a loan to the director A Horsburgh and his spouse of £21,992 (2022- £68,988). The loan has no fixed terms of repayment, is unsecured and attracts interest at the statutory rate.
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Average number of employees
During the year the average number of employees was 22 (2022: 16).