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REGISTERED NUMBER: 00752048 (England and Wales)















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: Mr Kiran Vanechand Mehta
Mr Mayur Vanechand Mehta
Mrs Chhaya Kiran Mehta
Mrs Bhavna Mayur Mehta



SECRETARY: Mr Kiran Vanechand Mehta



REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH



REGISTERED NUMBER: 00752048 (England and Wales)



BANKERS: Barclays Bank Plc

ALMERIC PHARMACY LIMITED (REGISTERED NUMBER: 00752048)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 132,801 150,091
Investment property 6 1,400,000 1,400,000
1,532,803 1,550,093

CURRENT ASSETS
Stocks 131,506 107,787
Debtors 7 92,192 92,661
Cash at bank and in hand 228,265 305,351
451,963 505,799
CREDITORS
Amounts falling due within one year 8 511,265 559,202
NET CURRENT LIABILITIES (59,302 ) (53,403 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,473,501

1,496,690

CREDITORS
Amounts falling due after more than one year 9 (680,108 ) (706,669 )

PROVISIONS FOR LIABILITIES (143,500 ) (143,500 )
NET ASSETS 649,893 646,521

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 635,902 635,902
Retained earnings 13,891 10,519
SHAREHOLDERS' FUNDS 649,893 646,521

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

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

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 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 Board of Directors and authorised for issue on 14th October 2024 and were signed on its behalf by:





Mr Kiran Vanechand Mehta - Director


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 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and Over term of the lease
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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 12 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 316,479
AMORTISATION
At 1st August 2023
and 31st July 2024 316,477
NET BOOK VALUE
At 31st July 2024 2
At 31st July 2023 2

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 119,814 248,782 368,596
DEPRECIATION
At 1st August 2023 62,159 156,346 218,505
Charge for year 2,953 14,337 17,290
At 31st July 2024 65,112 170,683 235,795
NET BOOK VALUE
At 31st July 2024 54,702 78,099 132,801
At 31st July 2023 57,655 92,436 150,091

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2023
and 31st July 2024 1,400,000
NET BOOK VALUE
At 31st July 2024 1,400,000
At 31st July 2023 1,400,000

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 43,529 77,587
Other debtors 48,663 15,074
92,192 92,661

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,253 24,400
Trade creditors 122,195 113,402
Taxation and social security 27,565 14,919
Other creditors 326,252 406,481
511,265 559,202

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 680,108 706,669

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 11,253 -
Bank loans 704,108 731,069
715,361 731,069

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.