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REGISTERED NUMBER: 02156591 (England and Wales)













Unaudited Financial Statements

for the Period

1 September 2022 to 29 February 2024

for

Park Avenue Pharmacy Limited

Park Avenue Pharmacy Limited (Registered number: 02156591)






Contents of the Financial Statements
for the Period 1 September 2022 to 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Park Avenue Pharmacy Limited

Company Information
for the Period 1 September 2022 to 29 February 2024







DIRECTORS: Mrs L Cooper
J Cooper
J V Evans





SECRETARY: J Cooper





REGISTERED OFFICE: 10 Park Avenue
Redcar
Cleveland
TS10 3JZ





REGISTERED NUMBER: 02156591 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Park Avenue Pharmacy Limited (Registered number: 02156591)

Balance Sheet
29 February 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 563 3,094
Investments 5 4,031 3,011
4,594 6,105

CURRENT ASSETS
Stocks 62,944 74,278
Debtors 6 165,050 147,803
Cash at bank and in hand 110,603 131,814
338,597 353,895
CREDITORS
Amounts falling due within one year 7 201,479 182,623
NET CURRENT ASSETS 137,118 171,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,712

177,377

PROVISIONS FOR LIABILITIES 141 774
NET ASSETS 141,571 176,603

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 141,569 176,601
141,571 176,603

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

Park Avenue Pharmacy Limited (Registered number: 02156591)

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 15 August 2024 and were signed on its behalf by:





J Cooper - Director


Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements
for the Period 1 September 2022 to 29 February 2024

1. STATUTORY INFORMATION

Park Avenue Pharmacy Limited 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.

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

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor Vehicles - 20% on cost
Computer Equipment - 25% on cost

Investments in subsidiaries
Investments in associates are measured at cost less impairment.

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 period 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.

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 period 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.

Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements - continued
for the Period 1 September 2022 to 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease,

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022
and 29 February 2024 46,434 10,660 8,006 65,100
DEPRECIATION
At 1 September 2022 45,764 10,660 5,582 62,006
Charge for period 107 - 2,424 2,531
At 29 February 2024 45,871 10,660 8,006 64,537
NET BOOK VALUE
At 29 February 2024 563 - - 563
At 31 August 2022 670 - 2,424 3,094

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022 3,011
Additions 1,020
At 29 February 2024 4,031
NET BOOK VALUE
At 29 February 2024 4,031
At 31 August 2022 3,011

Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements - continued
for the Period 1 September 2022 to 29 February 2024

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Clevechem Limited
Registered office: Redcar Primary Hospital, West Dyke Road, Redcar, TS10 4NW
Nature of business: Pharmacy
%
Class of shares: holding
Ordinary 10.55

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 107,138 85,727
Amounts owed by group undertakings 45,739 43,462
Other debtors 12,173 18,614
165,050 147,803

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 155,355 142,192
Amounts owed to group undertakings 40,612 37,388
Taxation and social security 5,512 3,043
201,479 182,623

8. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the statement of financial position is £3,167 (2022 - £18,208)

9. ULTIMATE CONTROLLING PARTY

The company's parent company is Coopers Chemist Marske Limited, who's registered office is 112 High Street, Marske By The Sea, Redcar, Cleveland TS11 7BA.