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REGISTERED NUMBER: 11771794 (England and Wales)















WELLFIELD HEALTHCARE LTD
TRADING AS
WELLFIELD PHARMACY

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
Fixed assets
Intangible assets 4 390,000 455,000
Tangible assets 5 120,327 37,996
510,327 492,996

Current assets
Stocks 6 30,000 30,100
Debtors 7 6,351,402 2,915,346
Cash at bank and in hand 1,810,039 3,008,318
8,191,441 5,953,764
Creditors
Amounts falling due within one year 8 (3,923,573 ) (2,783,853 )
Net current assets 4,267,868 3,169,911
Total assets less current liabilities 4,778,195 3,662,907

Creditors
Amounts falling due after more than one
year

9

(281,209

)

(320,494

)

Provisions for liabilities - (4,370 )
Net assets 4,496,986 3,338,043

Capital and reserves
Called up share capital 200 200
Retained earnings 4,496,786 3,337,843
4,496,986 3,338,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





Mr Safraz Shafqat - Director


WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. Statutory information

Wellfield Healthcare Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11771794

Registered office: Wellfield Pharmacy
55 Crescent Rd
Manchester
Lancashire
M8 9JT

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 2019, is being amortised evenly over its estimated useful life of ten 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:

Fixtures & fittings25% reducing balance method
Motor vehicles25% straight line method

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 Income Statement, 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 statement of financial position date.


WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 23 (2022 - 20 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 July 2022
and 30 June 2023 650,000
Amortisation
At 1 July 2022 195,000
Charge for year 65,000
At 30 June 2023 260,000
Net book value
At 30 June 2023 390,000
At 30 June 2022 455,000

WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 July 2022 78,910
Additions 128,476
At 30 June 2023 207,386
Depreciation
At 1 July 2022 40,914
Charge for year 46,145
At 30 June 2023 87,059
Net book value
At 30 June 2023 120,327
At 30 June 2022 37,996

6. Stocks
2023 2022
£    £   
Stocks 30,000 30,100

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 197,085 141,864
Other debtors 6,154,317 2,773,482
6,351,402 2,915,346

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 59,047 59,048
Trade creditors 2,387,176 2,125,719
Taxation and social security 811,458 481,471
Other creditors 665,892 117,615
3,923,573 2,783,853

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 281,209 320,494

WELLFIELD HEALTHCARE LTD (REGISTERED NUMBER: 11771794)
TRADING AS WELLFIELD PHARMACY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. Creditors: amounts falling due after more than one year - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 66,318 290,669

The bank loans and overdrafts are secured by floating charge over the company's assets.

10. Related party disclosures

At 30 June 2023 the director owed the company £15,260 (2022: £10,643). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in debtors due within one year.