Siddique Pharmacy Limited 04311286 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the retail of pharmaceutical goods Digita Accounts Production Advanced 6.30.9574.0 true 04311286 2023-03-01 2024-02-29 04311286 2024-02-29 04311286 bus:OrdinaryShareClass1 2024-02-29 04311286 core:RetainedEarningsAccumulatedLosses 2024-02-29 04311286 core:ShareCapital 2024-02-29 04311286 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 04311286 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-02-29 04311286 core:CurrentFinancialInstruments 2024-02-29 04311286 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 04311286 core:Non-currentFinancialInstruments 2024-02-29 04311286 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 04311286 core:OtherResidualIntangibleAssets 2024-02-29 04311286 core:LandBuildings core:ShortLeaseholdAssets 2024-02-29 04311286 core:MotorVehicles 2024-02-29 04311286 core:PlantMachinery 2024-02-29 04311286 bus:SmallEntities 2023-03-01 2024-02-29 04311286 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04311286 bus:FilletedAccounts 2023-03-01 2024-02-29 04311286 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04311286 bus:RegisteredOffice 2023-03-01 2024-02-29 04311286 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 04311286 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 04311286 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04311286 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 04311286 core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 04311286 core:LandBuildings core:ShortLeaseholdAssets 2023-03-01 2024-02-29 04311286 core:LeaseholdImprovements 2023-03-01 2024-02-29 04311286 core:MotorVehicles 2023-03-01 2024-02-29 04311286 core:PlantMachinery 2023-03-01 2024-02-29 04311286 countries:England 2023-03-01 2024-02-29 04311286 2023-02-28 04311286 core:OtherResidualIntangibleAssets 2023-02-28 04311286 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 04311286 core:MotorVehicles 2023-02-28 04311286 core:PlantMachinery 2023-02-28 04311286 2022-03-01 2023-02-28 04311286 2023-02-28 04311286 bus:OrdinaryShareClass1 2023-02-28 04311286 core:RetainedEarningsAccumulatedLosses 2023-02-28 04311286 core:ShareCapital 2023-02-28 04311286 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 04311286 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 04311286 core:CurrentFinancialInstruments 2023-02-28 04311286 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04311286 core:Non-currentFinancialInstruments 2023-02-28 04311286 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 04311286 core:OtherResidualIntangibleAssets 2023-02-28 04311286 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 04311286 core:MotorVehicles 2023-02-28 04311286 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04311286

Siddique Pharmacy Limited

Information for Filing with The Registrar

29 February 2024

 

Siddique Pharmacy Limited

Contents

Balance Sheet

1 to 2

Notes to the Accounts

3 to 8

 

Siddique Pharmacy Limited

(Registration number: 04311286)

Balance Sheet

29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

16,689

28,467

Tangible assets

5

3,321

7,363

 

20,010

35,830

Current assets

 

Stocks

6

112,490

128,220

Debtors

7

493,365

1,627,063

Cash at bank and in hand

 

2,466,292

833,543

 

3,072,147

2,588,826

Creditors: Amounts falling due within one year

8

(724,922)

(476,043)

Net current assets

 

2,347,225

2,112,783

Total assets less current liabilities

 

2,367,235

2,148,613

Creditors: Amounts falling due after more than one year

8

(13,333)

(25,000)

Net assets

 

2,353,902

2,123,613

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

2,353,802

2,123,513

Shareholders' funds

 

2,353,902

2,123,613

 

Siddique Pharmacy Limited

(Registration number: 04311286)

Balance Sheet

29 February 2024

For the financial 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.

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 28 November 2024 and signed on its behalf by:


 

M. Siddique

Company secretary and director

 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
215 Great Horton Road
Bradford
West Yorkshire
BD7 3BG

These financial statements were authorised for issue by the Board 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 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.

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.

Government grants

Grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises corporation tax.

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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 2024

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 property

10 years straight line basis

Plant and machinery

10 years straight line basis

Motor vehicles

4 years straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Lease premium

13 years 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. 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.

 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 33 (2023 - 35).

 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

153,118

153,118

At 29 February 2024

153,118

153,118

Amortisation

At 1 March 2023

112,873

112,873

Amortisation charge

23,556

23,556

At 29 February 2024

136,429

136,429

Carrying amount

At 29 February 2024

16,689

16,689

At 28 February 2023

28,467

28,467

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Motor
vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

132,177

72,894

11,148

216,219

At 29 February 2024

132,177

72,894

11,148

216,219

Depreciation

At 1 March 2023

130,717

69,080

9,059

208,856

Charge for the year

1,456

497

2,089

4,042

At 29 February 2024

132,173

69,577

11,148

212,898

Carrying amount

At 29 February 2024

4

3,317

-

3,321

At 28 February 2023

1,460

3,814

2,089

7,363

Included within the net book value of land and buildings above is £4 (2023 - £1,460) in respect of short leasehold land and buildings.
 

 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 2024

6

Stocks

2024
£

2023
£

Other inventories

112,490

128,220

7

Debtors

Current

2024
£

2023
£

Trade debtors

338,774

266,984

Prepayments

13,124

20,855

Other debtors

141,467

1,339,224

 

493,365

1,627,063

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

11,667

12,000

Trade creditors

 

593,833

402,725

Amounts due to related parties

515

223

Taxation and social security

 

112,335

53,949

Other creditors

 

6,572

7,146

 

724,922

476,043

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

13,333

25,000

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Siddique Pharmacy Limited

Notes to the Accounts

Year Ended 29 February 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,333

23,333

Hire purchase contracts

-

1,667

13,333

25,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

1,667

2,000

11,667

12,000