BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of pharmaceutical services. 25 November 2024 16 17 NI612865 2024-02-29 NI612865 2023-02-28 NI612865 2022-02-28 NI612865 2023-03-01 2024-02-29 NI612865 2022-03-01 2023-02-28 NI612865 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI612865 uk-curr:PoundSterling 2023-03-01 2024-02-29 NI612865 uk-bus:AbridgedAccounts 2023-03-01 2024-02-29 NI612865 uk-core:ShareCapital 2024-02-29 NI612865 uk-core:ShareCapital 2023-02-28 NI612865 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI612865 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI612865 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 NI612865 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI612865 uk-bus:FRS102 2023-03-01 2024-02-29 NI612865 uk-core:Goodwill 2023-03-01 2024-02-29 NI612865 uk-core:PlantMachinery 2023-03-01 2024-02-29 NI612865 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 NI612865 uk-core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 NI612865 uk-core:Goodwill 2023-02-28 NI612865 uk-core:Goodwill 2024-02-29 NI612865 2023-03-01 2024-02-29 NI612865 uk-bus:Director1 2023-03-01 2024-02-29 NI612865 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI612865
 
 
Derrylin Pharmacy Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 29 February 2024
Derrylin Pharmacy Ltd
Company Registration Number: NI612865
ABRIDGED BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 312,500 350,000
Tangible assets 5 40,166 26,298
───────── ─────────
Fixed Assets 352,666 376,298
───────── ─────────
 
Current Assets
Stocks 205,303 135,000
Debtors 305,583 82,193
Cash and cash equivalents 129,132 104,476
───────── ─────────
640,018 321,669
───────── ─────────
Creditors: amounts falling due within one year (400,408) (185,013)
───────── ─────────
Net Current Assets 239,610 136,656
───────── ─────────
Total Assets less Current Liabilities 592,276 512,954
 
Creditors:
amounts falling due after more than one year - (27,795)
 
Provisions for liabilities (6,710) (3,000)
───────── ─────────
Net Assets 585,566 482,159
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 585,466 482,059
───────── ─────────
Equity attributable to owners of the company 585,566 482,159
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 25 November 2024
           
           
           
________________________________          
Neil McConnell          
Director          
           



Derrylin Pharmacy Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
Derrylin Pharmacy Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI612865. The registered office of the company is 43 The Limes, Enniskillen, Co Fermanagh, BT74 5NQ. The principal activity of the company is that of pharmaceutical services. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 29 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing balance
  Fixtures, fittings and equipment - 20% Reducing balance
  Computer Equipment - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 16, (2023 - 17).
 
  2024 2023
  Number Number
 
Employees 16 17
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 March 2023 750,000 750,000
  ───────── ─────────
 
At 29 February 2024 750,000 750,000
  ───────── ─────────
Amortisation
At 1 March 2023 400,000 400,000
Charge for financial year 37,500 37,500
  ───────── ─────────
At 29 February 2024 437,500 437,500
  ───────── ─────────
Net book value
At 29 February 2024 312,500 312,500
  ═════════ ═════════
At 28 February 2023 350,000 350,000
  ═════════ ═════════
           
5. Tangible assets
  Plant and Fixtures, Computer Total
  machinery fittings and Equipment  
    equipment    
  £ £ £ £
Cost
At 1 March 2023 14,848 83,069 22,336 120,253
Additions - 3,735 20,176 23,911
  ───────── ───────── ───────── ─────────
At 29 February 2024 14,848 86,804 42,512 144,164
  ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 13,278 64,879 15,798 93,955
Charge for the financial year 314 4,386 5,343 10,043
  ───────── ───────── ───────── ─────────
At 29 February 2024 13,592 69,265 21,141 103,998
  ───────── ───────── ───────── ─────────
Net book value
At 29 February 2024 1,256 17,539 21,371 40,166
  ═════════ ═════════ ═════════ ═════════
At 28 February 2023 1,570 18,190 6,538 26,298
  ═════════ ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 29 February 2024.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.