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Registered number: 05238287
C & P Apothecaries Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Alexander Myerson & Co Limited
Alexander House
61 Rodney Street
Liverpool
Merseyside
L1 9ER
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 05238287
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 87,168
Tangible Assets 5 178,160 259,073
Investment Properties 6 245,000 245,000
Investments 7 102 100
423,262 591,341
CURRENT ASSETS
Stocks - 113,968
Debtors 1,279,480 541,392
Cash at bank and in hand 2,079 103,577
1,281,559 758,937
Creditors: Amounts Falling Due Within One Year (184,958 ) (527,493 )
NET CURRENT ASSETS (LIABILITIES) 1,096,601 231,444
TOTAL ASSETS LESS CURRENT LIABILITIES 1,519,863 822,785
PROVISIONS FOR LIABILITIES
Deferred Taxation - (11,989 )
NET ASSETS 1,519,863 810,796
CAPITAL AND RESERVES
Called up share capital 9 10 10
Fair Value Reserve 11 (96,170 ) (96,170 )
Profit and Loss Account 1,616,023 906,956
SHAREHOLDERS' FUNDS 1,519,863 810,796
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr P P Higgins
Director
29 November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
C & P Apothecaries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05238287 . The registered office is 61 Rodney Street, Liverpool, Merseyside, L1 9ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are a lease. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on reducing balance
2.6. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.10. Investment in subsidiaries
Investment in subsidiary undertakings are recognised at cost. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 13)
15 13
4. Intangible Assets
Total
£
Cost
As at 1 March 2023 549,085
Disposals (549,085 )
As at 29 February 2024 -
Amortisation
As at 1 March 2023 461,917
Disposals (461,917 )
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 87,168
Page 4
Page 5
5. Tangible Assets
Total
£
Cost
As at 1 March 2023 709,867
Additions 22,684
Disposals (287,157 )
As at 29 February 2024 445,394
Depreciation
As at 1 March 2023 450,794
Provided during the period 25,306
Disposals (208,866 )
As at 29 February 2024 267,234
Net Book Value
As at 29 February 2024 178,160
As at 1 March 2023 259,073
6. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 245,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 387,720 387,720
Accumulated depreciation and impairment 142,720 142,720
Carrying amount 245,000 245,000
7. Investments
Total
£
Cost
As at 1 March 2023 100
Additions 2
As at 29 February 2024 102
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 102
As at 1 March 2023 100
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Patrick Higgins 169,762 7,881 (25,000 ) - 152,643
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Fair Value Reserve
£
As at 1 March 2023 (96,170 )
As at 29 February 2024 (96,170 )
Page 6