IRIS Accounts Production v24.2.0.383 03481415 director 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034814152023-01-31034814152024-01-31034814152023-02-012024-01-31034814152022-01-31034814152022-02-012023-01-31034814152023-01-3103481415ns15:EnglandWales2023-02-012024-01-3103481415ns14:PoundSterling2023-02-012024-01-3103481415ns10:Director12023-02-012024-01-3103481415ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3103481415ns10:SmallEntities2023-02-012024-01-3103481415ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3103481415ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3103481415ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3103481415ns10:FullAccounts2023-02-012024-01-310348141512023-02-012024-01-3103481415ns10:CompanySecretary12023-02-012024-01-3103481415ns10:RegisteredOffice2023-02-012024-01-3103481415ns5:CurrentFinancialInstruments2024-01-3103481415ns5:CurrentFinancialInstruments2023-01-3103481415ns5:Non-currentFinancialInstruments2024-01-3103481415ns5:Non-currentFinancialInstruments2023-01-3103481415ns5:ShareCapital2024-01-3103481415ns5:ShareCapital2023-01-3103481415ns5:RetainedEarningsAccumulatedLosses2024-01-3103481415ns5:RetainedEarningsAccumulatedLosses2023-01-3103481415ns5:NetGoodwill2023-02-012024-01-3103481415ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3103481415ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-012024-01-3103481415ns5:FurnitureFittings2023-02-012024-01-3103481415ns5:MotorVehicles2023-02-012024-01-3103481415ns5:NetGoodwill2023-01-3103481415ns5:NetGoodwill2024-01-3103481415ns5:NetGoodwill2023-01-3103481415ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-3103481415ns5:FurnitureFittings2023-01-3103481415ns5:MotorVehicles2023-01-3103481415ns5:LongLeaseholdAssetsns5:LandBuildings2024-01-3103481415ns5:FurnitureFittings2024-01-3103481415ns5:MotorVehicles2024-01-3103481415ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-3103481415ns5:FurnitureFittings2023-01-3103481415ns5:MotorVehicles2023-01-3103481415ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3103481415ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3103481415ns5:RetainedEarningsAccumulatedLosses2023-01-3103481415ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31034814151ns10:Director12023-01-31034814151ns10:Director12022-01-31034814151ns10:Director12023-02-012024-01-31034814151ns10:Director12022-02-012023-01-31034814151ns10:Director12024-01-31034814151ns10:Director12023-01-3103481415ns10:Director22023-02-012024-01-3103481415ns10:Director222023-01-3103481415ns10:Director222022-01-3103481415ns10:Director222023-02-012024-01-3103481415ns10:Director222022-02-012023-01-3103481415ns10:Director222024-01-3103481415ns10:Director222023-01-31
REGISTERED NUMBER: 03481415 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

CHALICE PHARMACIES LIMITED

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)






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


CHALICE PHARMACIES LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTOR: M S Mann





SECRETARY: Mrs B K Mann





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 03481415 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,251,349 1,400,757
Tangible assets 5 277,679 254,866
1,529,028 1,655,623

CURRENT ASSETS
Stocks 202,433 187,046
Debtors 6 1,101,039 1,031,043
Cash at bank and in hand 504,940 539,010
1,808,412 1,757,099
CREDITORS
Amounts falling due within one year 7 1,299,888 1,254,043
NET CURRENT ASSETS 508,524 503,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,037,552

2,158,679

CREDITORS
Amounts falling due after more than one
year

8

(1,717,832

)

(1,773,889

)

PROVISIONS FOR LIABILITIES (59,753 ) (40,858 )
NET ASSETS 259,967 343,932

CAPITAL AND RESERVES
Called up share capital 240 240
Retained earnings 9 259,727 343,692
SHAREHOLDERS' FUNDS 259,967 343,932

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.

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

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 28 June 2024 and were signed by:





M S Mann - Director


CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Chalice Pharmacies 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 1997, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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.

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2023 - 46 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 3,051,160
AMORTISATION
At 1 February 2023 1,650,403
Amortisation for year 149,408
At 31 January 2024 1,799,811
NET BOOK VALUE
At 31 January 2024 1,251,349
At 31 January 2023 1,400,757

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 57,679 616,689 68,700 743,068
Additions - 2,425 77,245 79,670
Disposals - - (45,800 ) (45,800 )
At 31 January 2024 57,679 619,114 100,145 776,938
DEPRECIATION
At 1 February 2023 17,856 423,381 46,965 488,202
Charge for year 1,154 29,361 11,852 42,367
Eliminated on disposal - - (31,310 ) (31,310 )
At 31 January 2024 19,010 452,742 27,507 499,259
NET BOOK VALUE
At 31 January 2024 38,669 166,372 72,638 277,679
At 31 January 2023 39,823 193,308 21,735 254,866

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 633,927 579,773
Other debtors 94,835 83,389
Sundry debtors 223,339 223,237
Directors' current accounts 130,000 92,000
Prepayments and accrued income - 30,932
Prepayments 18,938 21,712
1,101,039 1,031,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 92,443 105,417
Hire purchase contracts 12,370 13,740
Trade creditors 1,092,608 1,052,731
Tax 75,596 60,502
Social security and other taxes 8,193 7,135
Net wages - 242
Other creditors 2,454 1,810
Accrued expenses 16,224 12,466
1,299,888 1,254,043

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank Loans - More than 1yr 1,678,101 1,770,454
Hire purchase contracts 39,731 3,435
1,717,832 1,773,889

9. RESERVES
Retained
earnings
£   

At 1 February 2023 343,692
Profit for the year 118,035
Dividends (202,000 )
At 31 January 2024 259,727

CHALICE PHARMACIES LIMITED (REGISTERED NUMBER: 03481415)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
M S Mann
Balance outstanding at start of year 69,000 103,500
Amounts advanced 28,500 -
Amounts repaid - (34,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 97,500 69,000

B S Atwal
Balance outstanding at start of year 23,000 38,500
Amounts advanced 9,500 -
Amounts repaid - (15,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,500 23,000