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REGISTERED NUMBER: 08376373 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2024

for

Arnolds Pharmacy Limited

Arnolds Pharmacy Limited (Registered number: 08376373)






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


Arnolds Pharmacy Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr O N Hamid





REGISTERED OFFICE: 21 Nelson Road
Westward Ho
Bideford
Devon
EX39 1LF





REGISTERED NUMBER: 08376373 (England and Wales)





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

Arnolds Pharmacy Limited (Registered number: 08376373)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 440,659 411,648
Investments 5 100 518,070
Investment property 6 475,000 465,000
915,759 1,394,718

CURRENT ASSETS
Stocks 37,000 38,000
Debtors 7 1,052,823 920,397
Cash at bank and in hand 77,146 77,104
1,166,969 1,035,501
CREDITORS
Amounts falling due within one year 8 420,116 700,286
NET CURRENT ASSETS 746,853 335,215
TOTAL ASSETS LESS CURRENT LIABILITIES 1,662,612 1,729,933

CREDITORS
Amounts falling due after more than one year 9 (83,711 ) (99,394 )

PROVISIONS FOR LIABILITIES (42,090 ) (23,744 )
NET ASSETS 1,536,811 1,606,795

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 147,886 106,480
Retained earnings 12 1,388,825 1,500,215
SHAREHOLDERS' FUNDS 1,536,811 1,606,795

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.

Arnolds Pharmacy Limited (Registered number: 08376373)

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


Arnolds Pharmacy Limited (Registered number: 08376373)

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

1. STATUTORY INFORMATION

Arnolds 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 - 15% on reducing balance
Computer equipment - 33.33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Arnolds Pharmacy Limited (Registered number: 08376373)

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

2. ACCOUNTING POLICIES - continued

Freehold property
Freehold property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023 400,000 14,992 10,214 425,206
Additions - 8,667 - 8,667
Revaluations 25,000 - - 25,000
At 31 January 2024 425,000 23,659 10,214 458,873
DEPRECIATION
At 1 February 2023 - 10,989 2,569 13,558
Charge for year - 1,251 3,405 4,656
At 31 January 2024 - 12,240 5,974 18,214
NET BOOK VALUE
At 31 January 2024 425,000 11,419 4,240 440,659
At 31 January 2023 400,000 4,003 7,645 411,648

Cost or valuation at 31 January 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2020 50,000 - - 50,000
Valuation in 2022 50,000 - - 50,000
Valuation in 2023 50,000 - - 50,000
Valuation in 2024 25,000 - - 25,000
Cost 250,000 23,659 10,214 283,873
425,000 23,659 10,214 458,873

If freehold property had not been revalued it would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 250,000 250,000

Freehold property was valued on an open market basis on 31 January 2024 by the director .

Arnolds Pharmacy Limited (Registered number: 08376373)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023 518,070
Disposals (517,970 )
At 31 January 2024 100
NET BOOK VALUE
At 31 January 2024 100
At 31 January 2023 518,070

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 465,000
Revaluations 10,000
At 31 January 2024 475,000
NET BOOK VALUE
At 31 January 2024 475,000
At 31 January 2023 465,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 10,000
Cost 465,000
475,000

If investment property had not been revalued it would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 465,000 465,000

Investment property was valued on an open market basis on 31 January 2024 by the director .

Arnolds Pharmacy Limited (Registered number: 08376373)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,360 11,993
Amounts owed by group undertakings 768,115 628,115
Directors' current accounts - 60,076
VAT 60,176 52,440
Prepayments and accrued income 216,267 166,024
Prepayments 1,905 1,749
1,052,823 920,397

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 16,774 16,774
Other loans 100,000 432,713
Trade creditors 264,498 242,348
Tax - 2,644
Social security and other taxes 10,312 3,423
Other creditors 1,466 1,123
Directors' current accounts 26,099 -
Accrued expenses 967 1,261
420,116 700,286

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 16,774 16,774
Bank loans - 2-5 years 23,655 33,655
Bank loans more 5 yr by instal 43,282 48,965
83,711 99,394

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 43,282 48,965

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 100,485 116,168

Debentures exist including fixed and floating charge over all present freehold property and a fixed a floating charge over all remaining assets both present and future.

Arnolds Pharmacy Limited (Registered number: 08376373)

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

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

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 1,500,215 106,480 1,606,695
Deficit for the year (68,984 ) (68,984 )
Dividends (1,000 ) (1,000 )
Assets revalued in period (41,406 ) 41,406 -
At 31 January 2024 1,388,825 147,886 1,536,711