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REGISTERED NUMBER: 02664543 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KARA'S PHARMACY LIMITED

KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KARA'S PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C H Kara
U H Kara
H K Kara





SECRETARY: D C Kara





REGISTERED OFFICE: 55 Binley Road
Coventry
CV3 1HU





REGISTERED NUMBER: 02664543 (England and Wales)





ACCOUNTANTS: Walker Thompson Ltd
Accountants & Registered Auditors
Empress House
43a Binley Road
Coventry
CV3 1HU

KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 109,083 112,166
109,083 112,166

CURRENT ASSETS
Stocks 6 89,493 84,957
Debtors 7 110,197 118,337
Cash at bank and in hand 2,308,782 2,286,816
2,508,472 2,490,110
CREDITORS
Amounts falling due within one year 8 358,164 386,916
NET CURRENT ASSETS 2,150,308 2,103,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,259,391

2,215,360

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 2,259,389 2,215,358
SHAREHOLDERS' FUNDS 2,259,391 2,215,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





C H Kara - Director


KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Kara's Pharmacy 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net sales of services and goods, excluding value added tax ,and is recognised at the time of sale.

Goodwill
Goodwill is written off on a time basis over a period between 10 and 15 years,being considered its economic life.


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.
Freehold property - 4% on cost
Long leasehold - Straight line over period of the lease
Fixtures and fittings - 25% on reducing balance

The Freehold Property has been depreciated at a rate of 4% on cost from the 1 January 2016.

It is the company's policy to account for fixed assets where the aggregate value of an asset is £1,000 or greater.

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 Statement of Income and Retained Earnings, 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.


KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 263,509
AMORTISATION
At 1 January 2023
and 31 December 2023 263,509
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

KARA'S PHARMACY LIMITED (REGISTERED NUMBER: 02664543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 50,827 80,491 62,972 194,290
DEPRECIATION
At 1 January 2023 14,231 6,840 61,053 82,124
Charge for year 2,033 570 480 3,083
At 31 December 2023 16,264 7,410 61,533 85,207
NET BOOK VALUE
At 31 December 2023 34,563 73,081 1,439 109,083
At 31 December 2022 36,596 73,651 1,919 112,166

6. STOCKS
2023 2022
£    £   
Stocks 89,493 84,957

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,764 90,126
Other debtors 23,433 28,211
110,197 118,337

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 132,516 142,097
Taxation and social security 55,092 36,412
Other creditors 170,556 208,407
358,164 386,916

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20 Ordinary 10p 2 2