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REGISTERED NUMBER: 13593284 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

VALLEYS LINK PHARMACY LTD

VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


VALLEYS LINK PHARMACY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Dr B P Choudhary
H K K Lee





REGISTERED OFFICE: 192-193 Gelli Road
Gelli
Pentre
Rhondda Cynon Taff
CF41 7NA





REGISTERED NUMBER: 13593284 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8RS

VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 782,750 875,750
Tangible assets 5 184,607 159,607
Investments 6 185,109 -
1,152,466 1,035,357

CURRENT ASSETS
Stocks 38,500 62,418
Debtors 7 325,843 255,072
Cash at bank 5,209 161,916
369,552 479,406
CREDITORS
Amounts falling due within one year 8 (264,261 ) (141,016 )
NET CURRENT ASSETS 105,291 338,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,257,757

1,373,747

CREDITORS
Amounts falling due after more than one
year

9

(1,414,318

)

(1,367,360

)
NET (LIABILITIES)/ASSETS (156,561 ) 6,387

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (156,661 ) 6,287
(156,561 ) 6,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

BALANCE SHEET - continued
31 AUGUST 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





Dr B P Choudhary - Director


VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Valleys Link Pharmacy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

INVESTMENTS IN ASSOCIATES
Investments in associate undertakings are recognised at cost.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 930,000
AMORTISATION
At 1 September 2022 54,250
Charge for year 93,000
At 31 August 2023 147,250
NET BOOK VALUE
At 31 August 2023 782,750
At 31 August 2022 875,750

VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 September 2022 159,607
Additions 25,000
At 31 August 2023 184,607
NET BOOK VALUE
At 31 August 2023 184,607
At 31 August 2022 159,607

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
Additions 185,109
At 31 August 2023 185,109
NET BOOK VALUE
At 31 August 2023 185,109

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,909 221,582
Amounts owed by group undertakings 101,023 -
Other debtors 42 42
Tax 10,208 -
VAT 20,432 28,514
Prepayments 4,229 4,934
325,843 255,072

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 119,145 118,840
Corporation tax 8,239 14,200
Social security and other taxes 6,917 3,140
Directors' current accounts 120,860 236
Accrued expenses 9,100 4,600
264,261 141,016

VALLEYS LINK PHARMACY LTD (REGISTERED NUMBER: 13593284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage 811,593 863,193
Silvercrest loan 219,625 204,167
Partnership loan 1,700 -
Shareholder loans 381,400 300,000
1,414,318 1,367,360

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Silvercrest loan 219,625 204,167
Partnership loan 1,700 -
Shareholder loans 381,400 300,000
602,725 504,167

Repayable by instalments
Mortgage 811,593 863,193