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REGISTERED NUMBER: SC576357 (Scotland)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CLELAND PHARMACY LIMITED

CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLELAND PHARMACY LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: C J McIntyre





SECRETARY:





REGISTERED OFFICE: 4 Wellington Square
Ayr
KA7 1EN





REGISTERED NUMBER: SC576357 (Scotland)





ACCOUNTANTS: Portlands
The Alhambra Suite
82 Mitchell Street
Glasgow
G1 3NA

CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,023,957 1,139,115
Tangible assets 5 36,951 37,506
1,060,908 1,176,621

CURRENT ASSETS
Stocks 36,080 35,111
Debtors 6 98,259 66,120
Cash at bank and in hand 150,524 71,390
284,863 172,621
CREDITORS
Amounts falling due within one year 7 (202,308 ) (216,416 )
NET CURRENT ASSETS/(LIABILITIES) 82,555 (43,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143,463

1,132,826

CREDITORS
Amounts falling due after more than one
year

8

(1,121,530

)

(1,141,000

)

PROVISIONS FOR LIABILITIES (437 ) (437 )
NET ASSETS/(LIABILITIES) 21,496 (8,611 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,396 (8,711 )
21,496 (8,611 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:





C J McIntyre - Director


CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Cleland Pharmacy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,158,300
AMORTISATION
At 1 April 2023 19,185
Charge for year 115,158
At 31 March 2024 134,343
NET BOOK VALUE
At 31 March 2024 1,023,957
At 31 March 2023 1,139,115

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 40,000 5,000 45,000
Additions - 2,332 2,332
At 31 March 2024 40,000 7,332 47,332
DEPRECIATION
At 1 April 2023 4,600 2,894 7,494
Charge for year 2,000 887 2,887
At 31 March 2024 6,600 3,781 10,381
NET BOOK VALUE
At 31 March 2024 33,400 3,551 36,951
At 31 March 2023 35,400 2,106 37,506

CLELAND PHARMACY LIMITED (REGISTERED NUMBER: SC576357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,443 58,433
Other debtors 10,816 7,687
98,259 66,120

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 99,474 78,765
Taxation and social security 38,443 16,815
Other creditors 64,391 120,836
202,308 216,416

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,121,530 1,141,000

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 971,530 857,000

9. SECURED DEBTS

There is a standard security granted to the property held by the company as part of borrowings of the Company's holding company.

10. ULTIMATE CONTROLLING PARTY

The controlling party is CJWM Limited.