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Company Registration No. 3631732 (England and Wales)
ADVANCE PHARMACIES LTD Unaudited accounts for the year ended 30 November 2023
ADVANCE PHARMACIES LTD Unaudited accounts Contents
Page
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ADVANCE PHARMACIES LTD Company Information for the year ended 30 November 2023
Director
Nadeem Iqbal
Secretary
Mazair Iqbal
Company Number
3631732 (England and Wales)
Registered Office
Malinslee Pharmacy Church Road Malinslee, Telford TF3 2JZ
Accountants
Caldwell House Consulting 44 Caldwell Road Birmingham West Midlands B9 5TQ
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ADVANCE PHARMACIES LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,065,000 
1,065,000 
Tangible assets
520,138 
538,672 
Investments
- 
240,000 
1,585,138 
1,843,672 
Current assets
Inventories
283,607 
266,081 
Debtors
94,309 
349,853 
Cash at bank and in hand
331,230 
21,205 
709,146 
637,139 
Creditors: amounts falling due within one year
(608,744)
(618,745)
Net current assets
100,402 
18,394 
Total assets less current liabilities
1,685,540 
1,862,066 
Creditors: amounts falling due after more than one year
(915,723)
(881,188)
Provisions for liabilities
Deferred tax
(54,630)
(43,405)
Net assets
715,187 
937,473 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
714,987 
937,273 
Shareholders' funds
715,187 
937,473 
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.
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 16 May 2024 and were signed on its behalf by
Nadeem Iqbal Director Company Registration No. 3631732
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ADVANCE PHARMACIES LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
ADVANCE PHARMACIES LTD is a private company, limited by shares, registered in England and Wales, registration number 3631732. The registered office is Malinslee Pharmacy , Church Road, Malinslee, Telford, TF3 2JZ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
At 7% reducing balance basis
Fixtures & fittings
At 5% reducing balance basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill) have not been amortised.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 December 2022
1,065,000 
At 30 November 2023
1,065,000 
Amortisation
At 1 December 2022
- 
At 30 November 2023
- 
Net book value
At 30 November 2023
1,065,000 
At 30 November 2022
1,065,000 
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ADVANCE PHARMACIES LTD Notes to the Accounts for the year ended 30 November 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 December 2022
184,912 
107,769 
559,129 
851,810 
At 30 November 2023
184,912 
107,769 
559,129 
851,810 
Depreciation
At 1 December 2022
- 
65,438 
247,700 
313,138 
Charge for the year
- 
2,963 
15,571 
18,534 
At 30 November 2023
- 
68,401 
263,271 
331,672 
Net book value
At 30 November 2023
184,912 
39,368 
295,858 
520,138 
At 30 November 2022
184,912 
42,331 
311,429 
538,672 
6
Investments
Other investments 
£ 
Valuation at 1 December 2022
240,000 
Fair value adjustments
(240,000)
Valuation at 30 November 2023
- 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
43,181 
349,853 
Other debtors
51,128 
- 
94,309 
349,853 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
369,612 
389,987 
Taxes and social security
7,327 
30,802 
Other creditors
231,805 
197,956 
608,744 
618,745 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
915,723 
881,188 
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ADVANCE PHARMACIES LTD Notes to the Accounts for the year ended 30 November 2023
10
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
54,630 
43,405 
2023 
2022 
£ 
£ 
Provision at start of year
43,405 
41,898 
Charged to the profit and loss account
11,225 
1,507 
Provision at end of year
54,630 
43,405 
11
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
100 Ordinary shares - B of £1 each
100 
100 
200 
200 
12
Average number of employees
During the year the average number of employees was 17 (2022: 17).
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