2023-01-012023-12-312023-12-31false03679174MARKS TEY PHARMACY 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MARKS TEY PHARMACY LIMITED

Registered Number
03679174
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

MARKS TEY PHARMACY LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

OSORIO RODRIGUEZ, Jose

Registered Address

89 London Road
Marks Tey
Colchester
CO6 1EB

Registered Number

03679174 (England and Wales)
MARKS TEY PHARMACY LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,84029,924
1,84029,924
Current assets
Stocks430,37527,125
Debtors5430,135291,804
Cash at bank and on hand205,078170,943
665,588489,872
Creditors amounts falling due within one year6(362,748)(310,914)
Net current assets (liabilities)302,840178,958
Total assets less current liabilities304,680208,882
Net assets304,680208,882
Capital and reserves
Called up share capital500500
Share premium19,80019,800
Profit and loss account284,380188,582
Shareholders' funds304,680208,882
The financial statements were approved and authorised for issue by the Director on 24 September 2024, and are signed on its behalf by:
OSORIO RODRIGUEZ, Jose
Director
Registered Company No. 03679174
MARKS TEY PHARMACY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings15
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20232022
Average number of employees during the year1311
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 23114,93029,118107,8726,513258,433
At 31 December 23114,93029,118107,8726,513258,433
Depreciation and impairment
At 01 January 23114,93028,02082,5143,045228,509
Charge for year-1,09825,3581,62828,084
At 31 December 23114,93029,118107,8724,673256,593
Net book value
At 31 December 23---1,8401,840
At 31 December 22-1,09825,3583,46829,924
4.Stocks

2023

2022

££
Finished goods30,37527,125
Total30,37527,125
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables254,046220,333
Amounts owed by group undertakings136,27450,547
Other debtors36,13316,630
Prepayments and accrued income3,6824,294
Total430,135291,804
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables197,235188,265
Bank borrowings and overdrafts419-
Taxation and social security39,54922,006
Finance lease and HP contracts-2,693
Other creditors125,48797,924
Accrued liabilities and deferred income5826
Total362,748310,914
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year
8.Related party transactions
At the yearend, the company was owed £136,274 (2022: £50,547) by Marks Tey Healthcare Ltd. The companies are related as Marks Tey Healthcare Ltd owns 100% share capital of Marks Tey Pharmacy Ltd.