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REGISTERED NUMBER: 09353153 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2024

for

Crediton Pharmacy Limited

Crediton Pharmacy Limited (Registered number: 09353153)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crediton Pharmacy Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr O N Hamid





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 09353153 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Crediton Pharmacy Limited (Registered number: 09353153)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,697 126,162
Tangible assets 5 5,402 6,356
81,099 132,518

CURRENT ASSETS
Stocks 45,000 37,000
Debtors 6 103,380 111,959
Cash at bank 24,980 35,937
173,360 184,896
CREDITORS
Amounts falling due within one year 7 943,923 811,026
NET CURRENT LIABILITIES (770,563 ) (626,130 )
TOTAL ASSETS LESS CURRENT LIABILITIES (689,464 ) (493,612 )

CREDITORS
Amounts falling due after more than one year 8 (42,577 ) (106,908 )

PROVISIONS FOR LIABILITIES (1,026 ) (1,208 )
NET LIABILITIES (733,067 ) (601,728 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (733,167 ) (601,828 )
SHAREHOLDERS' FUNDS (733,067 ) (601,728 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Crediton Pharmacy Limited (Registered number: 09353153)

Balance Sheet - continued
31 January 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 director and authorised for issue on 16 August 2024 and were signed by:





Mr O N Hamid - Director


Crediton Pharmacy Limited (Registered number: 09353153)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Crediton 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.

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 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance

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.

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.

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 9 (2023 - 8 ) .

Crediton Pharmacy Limited (Registered number: 09353153)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 504,647
AMORTISATION
At 1 February 2023 378,485
Charge for year 50,465
At 31 January 2024 428,950
NET BOOK VALUE
At 31 January 2024 75,697
At 31 January 2023 126,162

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 3,750 20,455 24,205
DEPRECIATION
At 1 February 2023 3,750 14,099 17,849
Charge for year - 954 954
At 31 January 2024 3,750 15,053 18,803
NET BOOK VALUE
At 31 January 2024 - 5,402 5,402
At 31 January 2023 - 6,356 6,356

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 2,069
VAT 25,473 26,474
Prepayments and accrued income 77,907 83,416
103,380 111,959

Crediton Pharmacy Limited (Registered number: 09353153)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 63,612 62,816
Trade creditors 107,582 117,340
Amounts owed to group undertakings 768,115 628,115
Social security and other taxes 2,665 1,304
Other creditors 639 427
Directors' current accounts 349 6
Accrued expenses 961 1,018
943,923 811,026

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 39,244 62,816
Bank loans - 2-5 years 3,333 44,092
42,577 106,908

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 14,000 14,000
Between one and five years 70,000 70,000
In more than five years 14,000 28,000
98,000 112,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 106,189 169,724

Included within loans is a bank loan secured by a fixed and floating charge on the assets and leasehold of Crediton Pharmacy limited and Arnolds Pharmacy Limited, the 100% parent company.

Also included is a bank loan secured by the government under the Bounce back Loan Scheme.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

Crediton Pharmacy Limited (Registered number: 09353153)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. RESERVES
Retained
earnings
£   

At 1 February 2023 (601,828 )
Deficit for the year (131,339 )
At 31 January 2024 (733,167 )

13. ULTIMATE CONTROLLING PARTY

The controlling party is Arnolds Pharmacy Limited.

The ultimate controlling party is Mr O N Hamid.

14. GOING CONCERN

At the year end the company had net liabilities. However, the director has confirmed that in their opinion the company will be able to meet its liabilities as they fall due for the foreseeable future (being a period not less than twelve months) due to the continued financial support from the parent company.

Consequently the company is considered to be a going concern.