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REGISTERED NUMBER: 11283226 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

PharmEstates Limited

PharmEstates Limited (Registered number: 11283226)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PharmEstates Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D S Brash
Mrs K K Mudhar





REGISTERED OFFICE: Mitchell's Chemist
88 New Road Side
Horsforth
Leeds
West Yorkshire
LS18 4QB





REGISTERED NUMBER: 11283226 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

PharmEstates Limited (Registered number: 11283226)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 325,000 325,000

CURRENT ASSETS
Cash at bank 1,809 1,293

CREDITORS
Amounts falling due within one year 5 65,475 57,377
NET CURRENT LIABILITIES (63,666 ) (56,084 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,334

268,916

CREDITORS
Amounts falling due after more than one year 6 (122,740 ) (133,447 )

PROVISIONS FOR LIABILITIES (22,258 ) (22,258 )
NET ASSETS 116,336 113,211

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 66,773 66,773
Retained earnings 49,463 46,338
116,336 113,211

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

PharmEstates Limited (Registered number: 11283226)

Balance Sheet - continued
31 January 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 25 November 2024 and were signed on its behalf by:





D S Brash - Director


PharmEstates Limited (Registered number: 11283226)

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

1. STATUTORY INFORMATION

PharmEstates 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.

Turnover
The turnover shown in the income statement represents rents receivable in the year.

Investment property
Investment property is shown at market value using best estimation where the director has looked at similar units with the area and came up with the best estimate.

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

PharmEstates Limited (Registered number: 11283226)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 325,000
NET BOOK VALUE
At 31 January 2024 325,000
At 31 January 2023 325,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 89,030
Cost 235,970
325,000

If the property had not been revalued it would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 236,970 236,970

Investment property was valued on an open market basis on 31 January 2023 by the directors using a desktop exercise .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 32,019 32,019
Trade creditors 2,305 1,645
Taxation and social security 989 2,123
Other creditors 30,162 21,590
65,475 57,377

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 122,740 133,447

PharmEstates Limited (Registered number: 11283226)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 154,759 165,466

Santantader UK PLC holds a first legal mortgage over the leasehold property and a subordination/priority deed over all other lenders to the company.