Company Registration No. 07132747 (England and Wales)
Dispense 2 U Ltd
Unaudited accounts
for the year ended 31 January 2024
Dispense 2 U Ltd
Unaudited accounts
Contents
Dispense 2 U Ltd
Company Information
for the year ended 31 January 2024
Directors
Colin Duncan
Alain Weir
Alan Weir
Company Number
07132747 (England and Wales)
Registered Office
T/A Cambrian Pharmacy
Thomas Savin Road
Oswestry
SY11 1GA
Accountants
Hynes Brothers Limited
1 Hough Cottage, Hough Lane
Comberbach
Northwich
Cheshire
CW9 6AN
Dispense 2 U Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
2,428
3,035
Inventories
109,247
128,428
Cash at bank and in hand
118,490
109,738
Creditors: amounts falling due within one year
(339,747)
(335,831)
Net current assets
387,494
377,363
Total assets less current liabilities
389,922
380,398
Creditors: amounts falling due after more than one year
(244,321)
(285,090)
Provisions for liabilities
Called up share capital
20,000
20,000
Capital redemption reserve
(462,000)
(462,000)
Profit and loss account
587,601
536,731
Shareholders' funds
145,601
94,731
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by
Alan Weir
Director
Company Registration No. 07132747
Dispense 2 U Ltd
Notes to the Accounts
for the year ended 31 January 2024
Dispense 2 U Ltd is a private company, limited by shares, registered in England and Wales, registration number 07132747. The registered office is T/A Cambrian Pharmacy, Thomas Savin Road, Oswestry, SY11 1GA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Dispense 2 U Ltd
Notes to the Accounts
for the year ended 31 January 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
12,366
4,035
16,401
At 31 January 2024
12,366
4,035
16,401
At 1 February 2023
10,316
3,050
13,366
Charge for the year
410
197
607
At 31 January 2024
10,726
3,247
13,973
At 31 January 2024
1,640
788
2,428
At 31 January 2023
2,050
985
3,035
Amounts falling due within one year
Trade debtors
370,127
410,196
Accrued income and prepayments
1,614
-
Other debtors
30,206
31,138
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
37,585
37,585
Trade creditors
282,542
281,627
Taxes and social security
18,120
15,119
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
244,321
285,090
Allotted, called up and fully paid:
50 Ordinary shares of £400 each
20,000
20,000
Dispense 2 U Ltd
Notes to the Accounts
for the year ended 31 January 2024
9
Average number of employees
During the year the average number of employees was 14 (2023: 14).