Registered number
06759931
Gelli Pharmacy Limited
Filleted Accounts
31 March 2024
Gelli Pharmacy Limited
Registered number: 06759931
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,386,545 550,000
Current assets
Debtors 4 301,042 1,033,381
Cash at bank and in hand 354,813 520,801
655,855 1,554,182
Creditors: amounts falling due within one year 5 (214,842) (248,132)
Net current assets 441,013 1,306,050
Total assets less current liabilities 1,827,558 1,856,050
Provisions for liabilities (181) -
Net assets 1,827,377 1,856,050
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,827,277 1,855,950
Shareholders' funds 1,827,377 1,856,050
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Dr. M Ahmadi
Director
Approved by the board on 27 November 2024
Gelli Pharmacy Limited
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.
Investment properties
Investment properties are measured at fair value by the director at each balance sheet date. Changes in fair value are included in the profit and loss account but classified as undistributable. In arriving at taxable profits/losses, adjustment is made for such changes. Investment properties are not depreciated.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 7
3 Tangible fixed assets
Fixtures, fittings, equipment Investment property Total
£ £ £
Cost/revaluation
At 1 April 2023 - 550,000 550,000
Additions 1,118 835,595 836,713
At 31 March 2024 1,118 1,385,595 1,386,713
Depreciation
Charge for the year 168 - 168
At 31 March 2024 168 - 168
Net book value
At 31 March 2024 950 1,385,595 1,386,545
At 31 March 2023 - 550,000 550,000
The revaluation of freehold land and buildings was provided by the director in 2011
4 Debtors 2024 2023
£ £
Trade debtors 65,892 31,831
Other debtors 235,150 1,001,550
301,042 1,033,381
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,647 437
Taxation and social security costs 205,171 243,916
Other creditors 8,024 3,779
214,842 248,132
6 Transactions with the director
The company afforded its director the use of a current account during the year. The movements on this account in summary form are detailed below;
2024
£
Balance as at 01/04/23 (due by the director) (693,778)
Net salary credited 18,148
Dividend credited 50,000
Mileage claim credited 1,688
Use of home 780
Personal assets transferred to company 790,000
Repayment of loan 126,000
Loans to daughter (163,060)
Director's personal expenses met by company funds (125,870)
Balance as at 31/03/24 (due to the director) 3,908
7 Other information
Gelli Pharmacy Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
66 Whitchurch Road
Maindy
Cardiff
South Wales
CF14 3LX
Gelli Pharmacy Limited 06759931 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Dr. M Ahmadi No description of principal activity 06759931 2022-04-01 2023-03-31 06759931 core:WithinOneYear 2023-03-31 06759931 core:ShareCapital 2023-03-31 06759931 core:RetainedEarningsAccumulatedLosses 2023-03-31 06759931 2023-04-01 2024-03-31 06759931 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06759931 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06759931 bus:Director40 2023-04-01 2024-03-31 06759931 1 2023-04-01 2024-03-31 06759931 2 2023-04-01 2024-03-31 06759931 core:PlantMachinery 2023-04-01 2024-03-31 06759931 core:Vehicles 2023-04-01 2024-03-31 06759931 countries:England 2023-04-01 2024-03-31 06759931 bus:FRS102 2023-04-01 2024-03-31 06759931 bus:FilletedAccounts 2023-04-01 2024-03-31 06759931 2024-03-31 06759931 core:WithinOneYear 2024-03-31 06759931 core:ShareCapital 2024-03-31 06759931 core:RetainedEarningsAccumulatedLosses 2024-03-31 06759931 core:PlantMachinery 2024-03-31 06759931 core:Vehicles 2024-03-31 06759931 2023-03-31 06759931 core:PlantMachinery 2023-03-31 06759931 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure