Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false92023-03-01retail dispensing chemist.13falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08193145 2023-03-01 2024-02-29 08193145 2022-03-01 2023-02-28 08193145 2024-02-29 08193145 2023-02-28 08193145 2022-03-01 08193145 c:Director2 2023-03-01 2024-02-29 08193145 d:Buildings 2023-03-01 2024-02-29 08193145 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 08193145 d:Buildings d:LongLeaseholdAssets 2024-02-29 08193145 d:Buildings d:LongLeaseholdAssets 2023-02-28 08193145 d:PlantMachinery 2023-03-01 2024-02-29 08193145 d:PlantMachinery 2024-02-29 08193145 d:PlantMachinery 2023-02-28 08193145 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08193145 d:MotorVehicles 2024-02-29 08193145 d:MotorVehicles 2023-02-28 08193145 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08193145 d:FurnitureFittings 2023-03-01 2024-02-29 08193145 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08193145 d:Goodwill 2023-03-01 2024-02-29 08193145 d:Goodwill 2024-02-29 08193145 d:Goodwill 2023-02-28 08193145 d:CurrentFinancialInstruments 2024-02-29 08193145 d:CurrentFinancialInstruments 2023-02-28 08193145 d:Non-currentFinancialInstruments 2024-02-29 08193145 d:Non-currentFinancialInstruments 2023-02-28 08193145 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08193145 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08193145 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08193145 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08193145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 08193145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 08193145 d:ShareCapital 2024-02-29 08193145 d:ShareCapital 2023-02-28 08193145 d:ShareCapital 2022-03-01 08193145 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 08193145 d:RetainedEarningsAccumulatedLosses 2024-02-29 08193145 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 08193145 d:RetainedEarningsAccumulatedLosses 2023-02-28 08193145 d:RetainedEarningsAccumulatedLosses 2022-03-01 08193145 c:FRS102 2023-03-01 2024-02-29 08193145 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08193145 c:FullAccounts 2023-03-01 2024-02-29 08193145 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08193145 d:WithinOneYear 2024-02-29 08193145 d:WithinOneYear 2023-02-28 08193145 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-29 08193145 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 08193145









BARONS PHARMACY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BARONS PHARMACY LIMITED
 
 
  
ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BARONS PHARMACY LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024

You consider that the Company is exempt from an audit for the year ended 29 February 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 10 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

  



Eclipse Consultancy Limited
 
The Courtyard
14A Sydenham Road
Croydon
CR0 2EE
1 October 2024
Page 1

 
BARONS PHARMACY LIMITED
REGISTERED NUMBER: 08193145

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 3 
270,000
360,000

Tangible assets
 4 
260,463
291,854

  
530,463
651,854

Current assets
  

Stocks
  
57,545
21,507

Debtors: amounts falling due within one year
 5 
251,388
202,671

Cash at bank and in hand
 6 
173,999
235,306

  
482,932
459,484

Creditors: amounts falling due within one year
 7 
(454,955)
(263,717)

Net current assets
  
 
 
27,977
 
 
195,767

Total assets less current liabilities
  
558,440
847,621

Creditors: amounts falling due after more than one year
 8 
(331,278)
(555,821)

  

Net assets
  
227,162
291,800


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
227,160
291,798

  
227,162
291,800


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 2

 
BARONS PHARMACY LIMITED
REGISTERED NUMBER: 08193145
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Praveen Modha
Director

Date: 1 October 2024

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 

 
BARONS PHARMACY LIMITED


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024



Called up share capital
Profit and loss account
Total equity


£
£
£



At 1 March 2022
2
287,854
287,856



Comprehensive income for the year


Profit for the year
-
88,944
88,944



Contributions by and distributions to owners


Dividends: Equity capital
-
(85,000)
(85,000)





At 1 March 2023
2
291,798
291,800



Comprehensive income for the year


Loss for the year
-
(17,638)
(17,638)



Contributions by and distributions to owners


Dividends: Equity capital
-
(47,000)
(47,000)



At 29 February 2024
2
227,160
227,162



The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 5

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

 
1.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
over 50 years
Long-term leasehold property
-
over the lease term
Plant and machinery
-
over 5 years
Fixtures and fittings
-
over 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 9).


3.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
616,300



At 29 February 2024

616,300



Amortisation


At 1 March 2023
256,300


Charge for the year on owned assets
90,000



At 29 February 2024

346,300



Net book value



At 29 February 2024
270,000



At 28 February 2023
360,000



Page 7

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 March 2023
262,551
125,559
7,985
396,095



At 29 February 2024

262,551
125,559
7,985
396,095



Depreciation


At 1 March 2023
22,810
73,446
7,985
104,241


Charge for the year on owned assets
-
31,391
-
31,391



At 29 February 2024

22,810
104,837
7,985
135,632



Net book value



At 29 February 2024
239,741
20,722
-
260,463



At 28 February 2023
239,741
52,113
-
291,854


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
135,893
90,617

Amounts owed by Jesmund Care
66,827
-

Other debtors
48,668
112,054

251,388
202,671


Page 8

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
173,999
235,306

173,999
235,306



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
38,400
18,000

Trade creditors
188,535
198,017

Amounts owed to Premier Trading
67,742
-

Corporation tax
31,454
37,000

Other taxation and social security
2,121
-

Other creditors
678
-

Accruals and deferred income
126,025
10,700

454,955
263,717



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
331,278
555,821

331,278
555,821


Page 9

 
BARONS PHARMACY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
38,400
18,000


38,400
18,000


Amounts falling due 2-5 years

Bank loans
331,278
555,821


331,278
555,821


369,678
573,821



10.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Total future minimum payments under non-cancellable operating leases
13,200
13,200

13,200
13,200

 
Page 10