REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
ALMERIC PHARMACY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
ALMERIC PHARMACY LIMITED |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ALMERIC PHARMACY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
BALANCE SHEET |
31ST JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
BALANCE SHEET - continued |
31ST JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
1. | STATUTORY INFORMATION |
Almeric Pharmacy Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At 31st July 2024, the company has net assets of £ and net current liabilities of £ . The financial statements have been prepared on a going concern basis as the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. |
Turnover |
Turnover represents value of goods and services provided, excluding value added tax. |
Goodwill |
Goodwill, which represents the excess of cost of acquisitions of business over the value attributed to their net assets, is amortised through the profit and loss account by equal instalments over its estimated useful economic life of up to a maximum of 20 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 |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment properties are revalued annually at their open market value in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. |
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors, these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view. |
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 balance sheet date. |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 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. |
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. |
Government grants |
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. |
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. |
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st August 2023 |
and 31st July 2024 |
AMORTISATION |
At 1st August 2023 |
and 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st August 2023 |
and 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st August 2023 |
and 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
Fair value at 31st July 2024 is represented by: |
£ |
Valuation in 2013 | 102,315 |
Valuation in 2014 | 117,587 |
Valuation in 2015 | 165,000 |
Valuation in 2016 | 125,000 |
Valuation in 2018 | (75,000 | ) |
Valuation in 2019 | (25,000 | ) |
Valuation in 2021 | 150,000 |
Valuation in 2023 | 150,000 |
Cost | 690,098 |
1,400,000 |
If Investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 690,098 | 690,098 |
Investment property was valued on an open market basis on 31st July 2024 by the directors . |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loan | 614,941 | 619,902 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdraft |
Bank loans |
11. | CAPITAL COMMITMENTS |
The company has a lease commitment of £35,000 p.a until 2036 in respect of one of the premises it is trading from. |
ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
12. | RELATED PARTY DISCLOSURES |
1.Investment properties owned by the company are being jointly held by the directors Mr K V Mehta and Mr M V Mehta as nominees in their names. |
2. At the balance sheet date the amount due to Mr. K.V Mehta, a director and shareholder of the company was £4,736 [2023: £29,845]. This loan is unsecured and interest free. He also received dividends of £10,000 from the company during the year. |
3. At the balance sheet date the amount due to Mr. M.V. Mehta, a director and shareholder of the company was £86,741 [2023: £103,142]. This loan is unsecured and interest free. He also received dividends of £10,000 from the company during the year. |
4. At the balance sheet date the amount due to Mrs. B.M. Mehta, a director and shareholder of the company was £104,765 [2023: £120,887]. This loan is unsecured and interest free. She also received dividends of £10,000 from the company during the year. |
5. At the balance sheet date the amount due to Mrs. C.K. Mehta, a director and shareholder of the company was £107,690 [2023: £126,186]. This loan is unsecured and interest free. She also received dividends of £10,000 from the company during the year. |
13. | ULTIMATE CONTROLLING PARTY |
The directors controlled the company throughout the current and previous period by virtue of owning the whole of issued share capital amongst themselves. |