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REGISTERED NUMBER: 07094636 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mill Road Pharmacy Limited

Mill Road Pharmacy Limited (Registered number: 07094636)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Mill Road Pharmacy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr A K N Patel





SECRETARY: Mrs H Patel





REGISTERED OFFICE: 5 Luke Street
Greater London
London
EC2A 4PX





REGISTERED NUMBER: 07094636 (England and Wales)





ACCOUNTANTS: Litchfields
5 Luke Street
London
EC2A 4PX

Mill Road Pharmacy Limited (Registered number: 07094636)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 352,500 411,250
Tangible assets 5 160,804 86,065
513,304 497,315

CURRENT ASSETS
Stocks 48,931 46,082
Debtors 159,999 168,389
Cash at bank 152,663 260,858
361,593 475,329
CREDITORS
Amounts falling due within one year 587,351 698,577
NET CURRENT LIABILITIES (225,758 ) (223,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,546

274,067

PROVISIONS FOR LIABILITIES 32,161 16,352
NET ASSETS 255,385 257,715

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 255,285 257,615
SHAREHOLDERS' FUNDS 255,385 257,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Mill Road Pharmacy Limited (Registered number: 07094636)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 27 October 2024 and were signed by:





Mr A K N Patel - Director


Mill Road Pharmacy Limited (Registered number: 07094636)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mill Road 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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.


Mill Road Pharmacy Limited (Registered number: 07094636)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 1,175,000
AMORTISATION
At 1 April 2023 763,750
Amortisation for year 58,750
At 31 March 2024 822,500
NET BOOK VALUE

At 31 March 2024 352,500
At 31 March 2023 411,250

Mill Road Pharmacy Limited (Registered number: 07094636)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 86,141
Additions 86,345
At 31 March 2024 172,486
DEPRECIATION
At 1 April 2023 76
Charge for year 11,606
At 31 March 2024 11,682
NET BOOK VALUE
At 31 March 2024 160,804
At 31 March 2023 86,065

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company repaid the director the amount £97,537 in relation to a loan which is interest free and repayable on demand. The balance at the end of the year was £306,851