Company Registration No. 12182298 (England and Wales)
VSM PHARMACY LIMITED
Unaudited accounts
for the year ended 31 March 2024
VSM PHARMACY LIMITED
Unaudited accounts
Contents
VSM PHARMACY LIMITED
Company Information
for the year ended 31 March 2024
Secretary
Thierry Thielens
Company Number
12182298 (England and Wales)
Registered Office
VSM PHARMACY
124 FRIMLEY ROAD
CAMBERLEY
SURREY
GU15 2QN
UNITED KINGDOM
Accountants
Arth Limited
655 Milton Keynes Business Centre
Foxhunter Drive
Milton Keynes
Buckinghamshire
MK14 6GD
VSM PHARMACY LIMITED
Statement of financial position
as at 31 March 2024
Intangible assets
394,800
460,600
Tangible assets
19,947
39,815
Cash at bank and in hand
87,438
64,107
Creditors: amounts falling due within one year
(164,409)
(289,156)
Net current assets
70,645
36,852
Total assets less current liabilities
485,392
537,267
Creditors: amounts falling due after more than one year
(522,149)
(580,443)
Net liabilities
(36,757)
(43,176)
Called up share capital
2
2
Profit and loss account
(36,759)
(43,178)
Shareholders' funds
(36,757)
(43,176)
For the year ending 31 March 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 director acknowledges her 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 and authorised for issue on 12 September 2024 and were signed on its behalf by
Jirina Thielens
Director
Company Registration No. 12182298
VSM PHARMACY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
VSM PHARMACY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12182298. The registered office is VSM PHARMACY, 124 FRIMLEY ROAD, CAMBERLEY, SURREY, GU15 2QN, UNITED KINGDOM.
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.
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:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company's EBITDA has averaged 13.4% over the last four years and has grown by 57% compared to the previous fiscal year. Free cash flow has allowed the company to repay £312,666 of long term loans over the past three years as well as increase its cash reserves by 36% compared to the previous year. A long term bank loan has also been partially repaid anticipatively in order to keep interest costs in line with previous years. Total turnover has grown 20% since the first year of trading. NHS income has grown 11% year on year, non NHS income has grown 57% year on year and now represents 19% of total turnover reducing the business's reliance on the NHS. Because of the cumulative amortisation and depreciation of £370,217 since acquiring the business, Net Asset Value remains negative this year at (£36,704.44). On the basis that the business is keeping up with its current liabilities, repaying some non current liabilities anticipatively, significatively growing its revenues and generating a growing positive EBITDA, the business is a going concern.
VSM PHARMACY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Other
Charge for the year
65,800
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
91,450
35,513
126,963
At 31 March 2024
91,450
35,513
126,963
At 1 April 2023
54,870
32,278
87,148
Charge for the year
18,290
1,578
19,868
At 31 March 2024
73,160
33,856
107,016
At 31 March 2024
18,290
1,657
19,947
At 31 March 2023
36,580
3,235
39,815
Amounts falling due within one year
Trade debtors
78,266
206,488
Accrued income and prepayments
7,472
4,148
VSM PHARMACY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
130,564
125,519
Taxes and social security
30,716
6,155
Other creditors
1,451
157,149
Loans from directors
678
(667)
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
522,149
580,443
9
Transactions with related parties
During the year and at the end of the year loan taken from Directors of the company is at £354,700 (2023 : £356,200)
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).