Village Pharmacy (Cumbernauld) Ltd
Registered number: SC368129
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 102,000
Current assets
Stocks 20,000 25,000
Debtors 4 799,884 724,132
Cash at bank and in hand 52,481 58,659
872,365 807,791
Creditors: amounts falling due within one year 5 (127,728) (119,441)
Net current assets 744,637 688,350
Total assets less current liabilities 744,637 790,350
Creditors: amounts falling due after more than one year 6 (30,037) (39,922)
Net assets 714,600 750,428
Capital and reserves
Called up share capital 100 100
Profit and loss account 714,500 750,328
Shareholder's funds 714,600 750,428
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tariq Butt
Director
Approved by the board on 7 July 2024
Village Pharmacy (Cumbernauld) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 510,000
At 31 March 2024 510,000
Amortisation
At 1 April 2023 408,000
Provided during the year 102,000
At 31 March 2024 510,000
Net book value
At 31 March 2024 -
At 31 March 2023 102,000
Goodwill has been amortised over its useful life of 10 years
4 Debtors 2024 2023
£ £
Trade debtors 179,737 143,659
Amounts owed by group undertakings and undertakings in which the company has a participating interest 411,806 410,734
Other taxes and social security debtor 9,281 9,679
Other debtors 199,060 160,060
799,884 724,132
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 101,473 94,732
Other taxes and social security 25,001 22,358
Other creditors 1,254 2,351
127,728 119,441
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,037 39,922
7 Related party transactions
Accutree Ltd (SC099513)
Accounting transactions have taken place with the parent company, Accutree Ltd leaving a balance of £411,806 (2023: £410,734).

Blackstone Properties Ltd (SC366842)
A consultancy fee of £20,000 was charged by Blackstone Properties Ltd which has common directorship and shareholdings.
8 Controlling party
Village Pharmacy (Cumbernauld) Ltd's ultimate holding company during the year was Accutree Ltd, a company registered in Scotland under number 099513. Accutree Ltd holds 100% of the company's share capital.
9 Other information
Village Pharmacy (Cumbernauld) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
20 Deaconsgrange Road
Thornliebank
Glasgow
G46 7UL
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