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Bodriggy Pharmacy Ltd

Annual Report and Unaudited Financial Statements
Period from 31 March 2023 to 30 November 2023

Registration number: 08554176

 

Bodriggy Pharmacy Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Bodriggy Pharmacy Ltd

Balance Sheet

30 November 2023

Note

30 November
2023
£

30 March
2023
£

Fixed assets

 

Tangible assets

4

5,950

3,927

Current assets

 

Stocks

5

56,958

56,013

Debtors

6

365,630

285,138

Cash at bank and in hand

 

43,667

107,575

 

466,255

448,726

Creditors: Amounts falling due within one year

7

(352,489)

(417,577)

Net current assets

 

113,766

31,149

Net assets

 

119,716

35,076

Capital and reserves

 

Called up share capital

8

1,000

1,000

Other reserves

102,426

-

Profit and loss account

16,290

34,076

Shareholders' funds

 

119,716

35,076

 

Bodriggy Pharmacy Ltd

Balance Sheet

30 November 2023

For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 November 2024
 

.........................................
D K Naidu
Director

Company Registration Number: 08554176

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
60 Queensway
Hayle
Cornwall
TR27 4PB

These financial statements were authorised for issue by the director on 28 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Disclosure of long or short period

The financial statements have been prepared for the period from 31 March 2023 to 30 November 2023. The comparatives have been prepared for the year from 31 March 2022 to 30 March 2023.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

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 corporation 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.

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

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

Leasehold improvements

5% straight line

Fixtures and fittings

20% straight line

Computer equipmnent

50% straight line

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 stocks 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

Going Concern
The director has considered the going concern status of the company and the wider group that this company is part of. This has included reviewing accounts for the year ended 30 November 2023 together with post year end results and events. While there are financial challenges within the group, the director has continued to prepare the accounts on the going concern basis as he has confidence that action can be taken to mitigate debt and realise cash within the wider group such that the company and group can continue in operational existence for at least 12 months from the date of signing the accounts.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 11 (2023 - 11).

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 March 2023

2,459

45,182

47,641

Additions

-

4,323

4,323

At 30 November 2023

2,459

49,505

51,964

Depreciation

At 31 March 2023

1,231

42,483

43,714

Charge for the period

41

2,259

2,300

At 30 November 2023

1,272

44,742

46,014

Carrying amount

At 30 November 2023

1,187

4,763

5,950

At 30 March 2023

1,228

2,699

3,927

5

Stocks

30 November
2023
£

30 March
2023
£

Other inventories

56,958

56,013

6

Debtors

Note

30 November
2023
£

30 March
2023
£

Trade debtors

 

254,357

215,027

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

73,164

-

Other debtors

 

38,109

70,111

 

365,630

285,138

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

30 November
2023
£

30 March
2023
£

Due within one year

Trade creditors

230,545

189,602

Taxation and social security

-

2,258

Accruals and deferred income

121,856

103,097

Other creditors

88

122,620

352,489

417,577

8

Share capital

Allotted, called up and fully paid shares

30 November
2023

30 March
2023

No.

£

No.

£

Alloted, called & fully paid ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Other reserves
£

Total
£

Loans from participators forgiven

102,426

102,426

 

Bodriggy Pharmacy Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2023 to 30 November 2023

10

Related party transactions

Transactions with the director

2023

At 31 March 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

D K Naidu

K D Naidu

-

4,343

(1,890)

2,453

A Sharif

Asif

35,749

-

(35,749)

-

T A Amin

T Amin

5,749

-

(5,749)

-

2023

At 31 March 2022
£

At 30 March 2023
£

A Sharif

Asif

7,588

35,749

T A Amin

T Amin

-

5,749

Parent and ultimate parent undertaking
Bodriggy Pharmacy Limited is a 50% subsidiary of Naimans UK Limited and a 50% subsidiary of Bodriggy Project Ltd. The registered office for the parent company is Reeds Pharmacy, The Globe, Frances Street, Truro, Cornwall, United Kingdom, TR1 3DP. The principal place of business is 60 Queensway, Hayle, Cornwall, TR27 4PB.