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Registration number: 08237070

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

Company Information

Directors

Dr T Shackley

Dr J Moloughney

Registered office

Crabtree Pharmacy
Stratford Road
Bidford-on-Avon
Alcester
B50 4LX

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

(Registration number: 08237070)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

276,066

281,777

Current assets

 

Stocks

5

50,408

51,388

Debtors

6

75,065

66,702

Cash at bank and in hand

 

19,807

5,606

 

145,280

123,696

Creditors: Amounts falling due within one year

7

(428,963)

(390,361)

Net current liabilities

 

(283,683)

(266,665)

Total assets less current liabilities

 

(7,617)

15,112

Creditors: Amounts falling due after more than one year

7

(160,033)

(177,051)

Net liabilities

 

(167,650)

(161,939)

Capital and reserves

 

Called up share capital

270

270

Revaluation reserve

27,150

27,565

Retained earnings

(195,070)

(189,774)

Shareholders' deficit

 

(167,650)

(161,939)

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 25 November 2024 and signed on its behalf by:
 

.........................................
Dr T Shackley
Director

.........................................
Dr J Moloughney
Director

 
 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

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 England and Wales.

The address of its registered office is:
Crabtree Pharmacy
Stratford Road
Bidford-on-Avon
Alcester
B50 4LX
England

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.

Going concern

The financial statements have been prepared on a going concern basis due to the continued support of the directors for a period of at least 12 months from the signing of the balance sheet.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

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

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

Fixtures and fittings

25% reducing balance basis

Computer equipment

33% reducing balance basis

Freehold property

2% straight line basis

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.

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.

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

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

4

Tangible assets

Land and buildings
£

Fixtures & fittings
 £

Computer equipment
 £

Total
£

Cost or valuation

At 1 April 2023

300,000

15,064

1,256

316,320

Additions

-

-

434

434

At 31 March 2024

300,000

15,064

1,690

316,754

Depreciation

At 1 April 2023

21,083

12,383

1,077

34,543

Charge for the year

5,271

670

204

6,145

At 31 March 2024

26,354

13,053

1,281

40,688

Carrying amount

At 31 March 2024

273,646

2,011

409

276,066

At 31 March 2023

278,917

2,681

179

281,777

Included within the net book value of land and buildings above is £273,646 (2023 - £278,917) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

50,408

51,388

6

Debtors

Current

2024
£

2023
£

Trade debtors

66,270

58,693

Prepayments

1,733

-

Other debtors

7,062

8,009

 

75,065

66,702

 

Bidford Healthcare Ltd

trading as Crabtree Pharmacy

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

15,736

25,417

Trade creditors

 

84,253

74,814

Amounts owed to related parties

321,209

282,209

Other creditors

 

7,765

7,921

 

428,963

390,361

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

160,033

177,051

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

160,033

177,051

2024
£

2023
£

Current loans and borrowings

Bank borrowings

15,736

25,417

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are guarantees of £175,769 (2023 - £202,468). A fixed and floating charge dated 29 April 2022 is held by Lloyds Bank PLC covering all of the property or undertaking of the company.