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Company Registration No. 06824480 (England and Wales)
Acorn Pharmacy Limited Unaudited accounts for the year ended 31 March 2024
Acorn Pharmacy Limited Unaudited accounts Contents
Page
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Acorn Pharmacy Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
9,088 
10,098 
Tangible assets
4,355 
4,540 
13,443 
14,638 
Current assets
Inventories
34,012 
34,012 
Debtors
137,308 
79,489 
Cash at bank and in hand
31,902 
50,292 
203,222 
163,793 
Creditors: amounts falling due within one year
(204,013)
(140,069)
Net current (liabilities)/assets
(791)
23,724 
Net assets
12,652 
38,362 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
12,650 
38,360 
Shareholders' funds
12,652 
38,362 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Asif Sharif Director Company Registration No. 06824480
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Acorn Pharmacy Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Acorn Pharmacy Limited is a private company, limited by shares, registered in England and Wales, registration number 06824480. The registered office is Brook Farm, Quarry Barton, Bristol, BS16 1SG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over a period of 10 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Acorn Pharmacy Limited Notes to the Accounts for the year ended 31 March 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
10,098 
At 31 March 2024
10,098 
Amortisation
At 1 April 2023
- 
Charge for the year
1,010 
At 31 March 2024
1,010 
Net book value
At 31 March 2024
9,088 
At 31 March 2023
10,098 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
19,160 
Additions
1,107 
At 31 March 2024
20,267 
Depreciation
At 1 April 2023
14,620 
Charge for the year
1,292 
At 31 March 2024
15,912 
Net book value
At 31 March 2024
4,355 
At 31 March 2023
4,540 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
14,597 
5,128 
Trade debtors
11,029 
69,111 
Accrued income and prepayments
111,682 
5,250 
137,308 
79,489 
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Acorn Pharmacy Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
104,958 
93,069 
Taxes and social security
108 
- 
Other creditors
11,014 
- 
Loans from directors
86,558 
47,000 
Accruals
1,375 
- 
204,013 
140,069 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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