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REGISTERED NUMBER: 06048758 (England and Wales)















PHARMACY 1ST LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PHARMACY 1ST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R K Chopra
R K Chopra





REGISTERED OFFICE: 212 Canterbury Street
Gillingham
Kent
ME7 5XL





REGISTERED NUMBER: 06048758 (England and Wales)





ACCOUNTANTS: TG Associates Limited
Chartered Accountants
7 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 103,825 87,746
Tangible assets 5 427,880 451,017
531,705 538,763

CURRENT ASSETS
Stocks 73,850 73,850
Debtors 6 465,235 376,090
Cash at bank and in hand 224,879 122,958
763,964 572,898
CREDITORS
Amounts falling due within one year 7 364,738 315,133
NET CURRENT ASSETS 399,226 257,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

930,931

796,528

CREDITORS
Amounts falling due after more than one
year

8

388,198

407,878
NET ASSETS 542,733 388,650

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 542,633 388,550
SHAREHOLDERS' FUNDS 542,733 388,650

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

BALANCE SHEET - continued
31 MARCH 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 3 September 2024 and were signed on its behalf by:





R K Chopra - Director


PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pharmacy 1st Ltd 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 2012, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Depreciation is inappropriate
Fixtures and fittings - 20% 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.

PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 343,811 - 343,811
Additions - 39,000 39,000
At 31 March 2024 343,811 39,000 382,811
AMORTISATION
At 1 April 2023 256,065 - 256,065
Charge for year 22,921 - 22,921
At 31 March 2024 278,986 - 278,986
NET BOOK VALUE
At 31 March 2024 64,825 39,000 103,825
At 31 March 2023 87,746 - 87,746

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 285,363 92,755 191,872 569,990
Additions - - 12,492 12,492
At 31 March 2024 285,363 92,755 204,364 582,482
DEPRECIATION
At 1 April 2023 - 44,640 74,333 118,973
Charge for year - 9,623 26,006 35,629
At 31 March 2024 - 54,263 100,339 154,602
NET BOOK VALUE
At 31 March 2024 285,363 38,492 104,025 427,880
At 31 March 2023 285,363 48,115 117,539 451,017

PHARMACY 1ST LTD (REGISTERED NUMBER: 06048758)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 140,800 117,645
Other debtors 324,435 258,445
465,235 376,090

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 56,081 66,081
Trade creditors 178,620 145,769
Taxation and social security 55,723 33,298
Other creditors 74,314 69,985
364,738 315,133

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 388,198 407,878

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 388,198 407,878