2023-03-012024-02-292024-02-29false05241106MOTTS PHARMACY 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MOTTS PHARMACY LIMITED

Registered Number
05241106
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MOTTS PHARMACY LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

KULAR, Gurpreet
KULAR, Rupan

Registered Address

Market Place
Reepham
Norwich
NR10 4JJ

Registered Number

05241106 (England and Wales)
MOTTS PHARMACY LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets351,20047,567
51,20047,567
Current assets
Stocks423,92522,170
Debtors157,573165,947
Cash at bank and on hand180,698195,099
362,196383,216
Creditors amounts falling due within one year5(255,749)(239,186)
Net current assets (liabilities)106,447144,030
Total assets less current liabilities157,647191,597
Creditors amounts falling due after one year6(25,907)(36,811)
Net assets131,740154,786
Capital and reserves
Called up share capital100100
Profit and loss account131,640154,686
Shareholders' funds131,740154,786
The financial statements were approved and authorised for issue by the Board of Directors on 29 November 2024, and are signed on its behalf by:
KULAR, Gurpreet
Director
Registered Company No. 05241106
MOTTS PHARMACY LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings15
Vehicles15
Office Equipment15
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 2313,48966,91626,281106,686
Additions-10,3181,09211,410
At 29 February 2413,48977,23427,373118,096
Depreciation and impairment
At 01 March 234,23045,2099,68059,119
Charge for year1,3893,7632,6257,777
At 29 February 245,61948,97212,30566,896
Net book value
At 29 February 247,87028,26215,06851,200
At 28 February 239,25921,70716,60147,567
4.Stocks

2024

2023

££
Finished goods23,92522,170
Total23,92522,170
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables118,128106,083
Bank borrowings and overdrafts693416
Amounts owed to related parties41,34547,258
Taxation and social security10,15820,543
Payments received on account64,82255,828
Other creditors18,8818,711
Accrued liabilities and deferred income1,722347
Total255,749239,186
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,90736,811
Total25,90736,811
7.Related party transactions
At the yearend, the company owed £41,345 (2023: £47,258) to G S Kular Ltd, a company in which Mr G. Kular is also a director and a majority shareholder.