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REGISTERED NUMBER: SC312626 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Slamannan Village Pharmacy Limited

Slamannan Village Pharmacy Limited (Registered number: SC312626)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Slamannan Village Pharmacy Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R Mackie
Mrs G J Mackie





SECRETARY: R Mackie





REGISTERED OFFICE: 17 High Street
Slamannan
Falkirk
FK1 3EX





REGISTERED NUMBER: SC312626 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER

Slamannan Village Pharmacy Limited (Registered number: SC312626)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 168,000 224,000
Tangible assets 5 13,263 11,648
181,263 235,648

CURRENT ASSETS
Stocks 41,628 43,272
Debtors 6 81,568 78,009
Cash at bank and in hand 128,928 89,732
252,124 211,013
CREDITORS
Amounts falling due within one year 7 205,124 228,937
NET CURRENT ASSETS/(LIABILITIES) 47,000 (17,924 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,263

217,724

PROVISIONS FOR LIABILITIES 2,248 1,388
NET ASSETS 226,015 216,336

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 225,915 216,236
SHAREHOLDERS' FUNDS 226,015 216,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Slamannan Village Pharmacy Limited (Registered number: SC312626)

Balance Sheet - continued
29 February 2024


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 28 August 2024 and were signed on its behalf by:





R Mackie - Director


Slamannan Village Pharmacy Limited (Registered number: SC312626)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Slamannan Village Pharmacy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax. Revenue is recognised when the company has the right to receive it.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax.

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 all 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. 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.

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 13 (2023 - 14 ) .

Slamannan Village Pharmacy Limited (Registered number: SC312626)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 1,120,000
AMORTISATION
At 1 March 2023 896,000
Charge for year 56,000
At 29 February 2024 952,000
NET BOOK VALUE
At 29 February 2024 168,000
At 28 February 2023 224,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 50,386
Additions 6,791
Disposals (6,283 )
At 29 February 2024 50,894
DEPRECIATION
At 1 March 2023 38,738
Charge for year 5,176
Eliminated on disposal (6,283 )
At 29 February 2024 37,631
NET BOOK VALUE
At 29 February 2024 13,263
At 28 February 2023 11,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 59,866 66,325
Other debtors 21,702 11,684
81,568 78,009

Slamannan Village Pharmacy Limited (Registered number: SC312626)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 114,552 101,965
Taxation and social security 24,558 7,602
Other creditors 66,014 119,370
205,124 228,937

Included in other creditors above are directors' current accounts which are unsecured, interest free and repayable on demand.

8. SECURED DEBTS

The bank hold security by way of a bond and floating charge over the companies assets. In addition there are cross company guarantees granted by Mallaig Village Pharmacy Limited and Horbury Road Pharmacy Limited.