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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
Page
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VSM PHARMACY LIMITED Company Information for the year ended 31 March 2024
Director
Jirina Thielens
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
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VSM PHARMACY LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
394,800 
460,600 
Tangible assets
19,947 
39,815 
414,747 
500,415 
Current assets
Inventories
46,154 
46,507 
Debtors
101,462 
215,394 
Cash at bank and in hand
87,438 
64,107 
235,054 
326,008 
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)
Capital and reserves
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
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VSM PHARMACY LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Fixtures & fittings
20%
Computer equipment
33%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Going concern
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.
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VSM PHARMACY LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
658,000 
At 31 March 2024
658,000 
Amortisation
At 1 April 2023
197,400 
Charge for the year
65,800 
At 31 March 2024
263,200 
Net book value
At 31 March 2024
394,800 
At 31 March 2023
460,600 
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 
Depreciation
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 
Net book value
At 31 March 2024
18,290 
1,657 
19,947 
At 31 March 2023
36,580 
3,235 
39,815 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
10,974 
- 
Trade debtors
78,266 
206,488 
Accrued income and prepayments
7,472 
4,148 
Other debtors
4,750 
4,758 
101,462 
215,394 
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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)
Accruals
1,000 
1,000 
164,409 
289,156 
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).
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