H.H.C.C. (Pharmacy) Limited SC113988 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is dispensing of pharmaceutical goods. Digita Accounts Production Advanced 6.30.9574.0 true true SC113988 2023-04-01 2024-03-31 SC113988 2024-03-31 SC113988 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 SC113988 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-03-31 SC113988 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2024-03-31 SC113988 core:CapitalRedemptionReserve 2024-03-31 SC113988 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC113988 core:ShareCapital 2024-03-31 SC113988 core:CurrentFinancialInstruments 2024-03-31 SC113988 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC113988 core:Non-currentFinancialInstruments 2024-03-31 SC113988 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC113988 core:MotorVehicles 2024-03-31 SC113988 core:OtherPropertyPlantEquipment 2024-03-31 SC113988 bus:SmallEntities 2023-04-01 2024-03-31 SC113988 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC113988 bus:FilletedAccounts 2023-04-01 2024-03-31 SC113988 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC113988 bus:RegisteredOffice 2023-04-01 2024-03-31 SC113988 bus:CompanySecretary1 2023-04-01 2024-03-31 SC113988 bus:Director5 2023-04-01 2024-03-31 SC113988 bus:Director8 2023-04-01 2024-03-31 SC113988 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 SC113988 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-04-01 2024-03-31 SC113988 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-04-01 2024-03-31 SC113988 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC113988 bus:Agent1 2023-04-01 2024-03-31 SC113988 core:MotorVehicles 2023-04-01 2024-03-31 SC113988 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC113988 core:PlantMachinery 2023-04-01 2024-03-31 SC113988 countries:Scotland 2023-04-01 2024-03-31 SC113988 2023-03-31 SC113988 core:MotorVehicles 2023-03-31 SC113988 core:OtherPropertyPlantEquipment 2023-03-31 SC113988 2022-04-01 2023-03-31 SC113988 2023-03-31 SC113988 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 SC113988 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-03-31 SC113988 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-03-31 SC113988 core:CapitalRedemptionReserve 2023-03-31 SC113988 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC113988 core:ShareCapital 2023-03-31 SC113988 core:CurrentFinancialInstruments 2023-03-31 SC113988 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC113988 core:Non-currentFinancialInstruments 2023-03-31 SC113988 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC113988 core:MotorVehicles 2023-03-31 SC113988 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC113988

H.H.C.C. (Pharmacy) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

H.H.C.C. (Pharmacy) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

H.H.C.C. (Pharmacy) Limited

Company Information

Directors

Mr R A Mackie

The Red Bank Chemical Company Limited

Company secretary

Mr M Dickson

Registered office

Hawick Health Centre
Teviot Road
Hawick Borders
TD9 9DN

Accountants

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
H.H.C.C. (Pharmacy) Limited for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of H.H.C.C. (Pharmacy) Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of H.H.C.C. (Pharmacy) Limited, as a body, in accordance with the terms of our engagement letter dated 25 July 2001. Our work has been undertaken solely to prepare for your approval the accounts of H.H.C.C. (Pharmacy) Limited and state those matters that we have agreed to state to the Board of Directors of H.H.C.C. (Pharmacy) Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H.H.C.C. (Pharmacy) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that H.H.C.C. (Pharmacy) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of H.H.C.C. (Pharmacy) Limited. You consider that H.H.C.C. (Pharmacy) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of H.H.C.C. (Pharmacy) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

19 November 2024

 

H.H.C.C. (Pharmacy) Limited

(Registration number: SC113988)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,342

8,997

Current assets

 

Stocks

6

71,000

45,000

Debtors

7

99,642

192,390

Cash at bank and in hand

 

317,058

189,312

 

487,700

426,702

Creditors: Amounts falling due within one year

8

(237,156)

(245,772)

Net current assets

 

250,544

180,930

Total assets less current liabilities

 

256,886

189,927

Creditors: Amounts falling due after more than one year

8

(31,866)

(31,866)

Provisions for liabilities

(1,586)

-

Net assets

 

223,434

158,061

Capital and reserves

 

Called up share capital

9

337

337

Capital redemption reserve

68

68

Retained earnings

223,029

157,656

Shareholders' funds

 

223,434

158,061

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Mr R A Mackie
Director

 

H.H.C.C. (Pharmacy) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Hawick Health Centre
Teviot Road
Hawick Borders
TD9 9DN

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The financial statements are presented in Sterling (£) and rounded to the nearest £0.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:

Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales value added tax, returns, rebates and discounts.

Sale of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

H.H.C.C. (Pharmacy) Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% straight line

Plant and Machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

H.H.C.C. (Pharmacy) Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

H.H.C.C. (Pharmacy) Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 14).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,309

3,999

5

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

15,995

-

15,995

Additions

-

1,654

1,654

At 31 March 2024

15,995

1,654

17,649

Depreciation

At 1 April 2023

6,998

-

6,998

Charge for the year

3,999

310

4,309

At 31 March 2024

10,997

310

11,307

Carrying amount

At 31 March 2024

4,998

1,344

6,342

At 31 March 2023

8,997

-

8,997

6

Stocks

2024
£

2023
£

Other inventories

71,000

45,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

78,727

168,634

Prepayments

2,179

2,602

Other debtors

18,736

21,154

 

99,642

192,390

 

H.H.C.C. (Pharmacy) Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

177,641

213,514

Taxation and social security

50,487

23,617

Accruals and deferred income

8,632

8,632

Other creditors

396

9

237,156

245,772

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary class A shares of £50 each

5

250

5

250

Ordinary class B shares of £1 each

2

2

2

2

Ordinary class C shares of £0.001 each

85,000

85.00

85,000

85.00

 

85,007

337

85,007

337

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

31,866

31,866

Other borrowings

NHS - Advance Cash Payment is denominated in £ with a nominal interest rate of 0%. The carrying amount at year end is £31,866 (2023 - £31,866).

The Scottish Government along with Community Pharmacy Scotland have provided an advance cash payment of £31,865.92 due to the significant economic pressures facing local pharmacies. The advance payment will be recovered at a later date still to be confirmed by the Scottish Government.