Registered number
05905488
Nutan Pharmacy Limited
Filleted Accounts
31 March 2024
Nutan Pharmacy Limited
Registered number: 05905488
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 53,466 60,070
Current assets
Stocks 85,903 92,579
Debtors 5 268,794 248,672
Investments held as current assets 6 100 100
Cash at bank and in hand 64,700 61,422
419,497 402,773
Creditors: amounts falling due within one year 7 (395,759) (307,453)
Net current assets 23,738 95,320
Net assets 77,204 155,390
Capital and reserves
Called up share capital 100 100
Profit and loss account 77,104 155,290
Shareholder's funds 77,204 155,390
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 member has 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.
Milan Patel
Director
Approved by the board on 23 December 2024
Nutan 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 980,000
At 31 March 2024 980,000
Amortisation
At 1 April 2023 980,000
At 31 March 2024 980,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 9,823 176,345 186,168
Additions - 1,098 1,098
At 31 March 2024 9,823 177,443 187,266
Depreciation
At 1 April 2023 - 126,098 126,098
Charge for the year - 7,702 7,702
At 31 March 2024 - 133,800 133,800
Net book value
At 31 March 2024 9,823 43,643 53,466
At 31 March 2023 9,823 50,247 60,070
5 Debtors 2024 2023
£ £
Trade debtors 109,157 146,290
Loan to Holding Company 122,371 63,249
Corporation tax recoverable 4,289 4,289
Other debtors 32,977 34,844
268,794 248,672
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 100 100
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 333,501 270,397
Taxation and social security costs 2,108 2,001
Directors loan account 49,184 14,956
Other creditors 10,966 20,099
395,759 307,453
8 Other information
Nutan Pharmacy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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