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REGISTERED NUMBER: SC565115 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AIRTH PHARMACY LTD

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AIRTH PHARMACY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Porter



REGISTERED OFFICE: 11 Henryson Crescent
Larbert
Falkirk
FK5 4GH



REGISTERED NUMBER: SC565115 (Scotland)



ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG



TRADING ADDRESS: 2 Shore Road
Airth
Falkirk
FK2 8LH

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,065 1,252

CURRENT ASSETS
Stocks 26,621 28,747
Debtors 5 175,130 160,565
Cash at bank and in hand 76,061 49,650
277,812 238,962
CREDITORS
Amounts falling due within one year 6 106,023 94,484
NET CURRENT ASSETS 171,789 144,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,854

145,730

PROVISIONS FOR LIABILITIES 245 238
NET ASSETS 172,609 145,492

CAPITAL AND RESERVES
Called up share capital 9 264 264
Share premium 46,218 46,218
Retained earnings 126,127 99,010
SHAREHOLDERS' FUNDS 172,609 145,492

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 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.

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

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 director and authorised for issue on 10 June 2024 and were signed by:





J Porter - Director


AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

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

1. STATUTORY INFORMATION

Airth Pharmacy Ltd is a private company, limited by shares , registered in Scotland. 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 stated net of value added tax for over the counter sales and gross for NHS sales. Turnover from the sale of over the counter goods is recognised when the payment is recorded in the till and NHS Income is recognised when the client receives a PPD9 confirming the sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 15% on reducing balance
Fixtures & 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.

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants
Government grants eligible for recognition within the financial statements once they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Property Fixtures
improvements & fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,369 1,677 3,046
DEPRECIATION
At 1 April 2023 806 988 1,794
Charge for year 84 103 187
At 31 March 2024 890 1,091 1,981
NET BOOK VALUE
At 31 March 2024 479 586 1,065
At 31 March 2023 563 689 1,252

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 43,554 43,589
Other debtors 131,576 116,976
175,130 160,565

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 61,753 57,043
Taxation and social security 28,048 22,012
Other creditors 16,222 15,429
106,023 94,484

7. LEASING AGREEMENTS

The company has lease commitments outstanding at the year end of £26,000 (2023 £32,500).

8. SECURED DEBTS

Unity Trust Bank plc hold a bond and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
264 Ordinary £1 264 264

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J Porter
Balance outstanding at start of year 1,839 840
Amounts advanced 820 999
Amounts repaid (1,839 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 820 1,839

Loans from directors are interest free and repayable upon demand.

11. RELATED PARTY DISCLOSURES

At 31 March 2024 there is an other debtor of £130,723 (2023 £116,123) due from Cradan Limited, the parent company.

AIRTH PHARMACY LTD (REGISTERED NUMBER: SC565115)

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

12. ULTIMATE CONTROLLING PARTY

At 31 March 2024 the company was under the control of the parent company Cradan Limited, whose registered office is 11 Henryson Crescent, Larbert, Falkirk FK5 4GH. Cradan Limited acquired 100% of the company share capital at 31 March 2020.