Registered number
14554119
Pontardawe Apothecary Limited
Filleted Accounts
31 July 2024
Cross & Bowen
Chartered Certified Accountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Pontardawe Apothecary Limited
Registered number: 14554119
Balance Sheet
as at 31 July 2024
Notes 2024
£
Fixed assets
Intangible assets 3 328,917
Tangible assets 4 47,209
376,126
Current assets
Stocks 75,000
Debtors 5 329,626
Cash at bank and in hand 1,562
406,188
Creditors: amounts falling due within one year 6 (240,157)
Net current assets 166,031
Total assets less current liabilities 542,157
Creditors: amounts falling due after more than one year 7 (563,613)
Net liabilities (21,456)
Capital and reserves
Called up share capital 100
Profit and loss account (21,556)
Shareholders' funds (21,456)
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 members have 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.
Jonathan Peter Rees
Director
Approved by the board on 19 December 2024
Pontardawe Apothecary Limited
Notes to the Accounts
for the year ended 31 July 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.
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:
Motor vehicles 25% reducing balance
Fixtures, fittings and equipment 10% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 13
3 Intangible fixed assets £
Goodwill:
Cost
Additions 405,000
At 31 July 2024 405,000
Amortisation
Provided during the year 76,083
At 31 July 2024 76,083
Net book value
At 31 July 2024 328,917
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 35,000 20,000 55,000
At 31 July 2024 35,000 20,000 55,000
Depreciation
Charge for the year 3,208 4,583 7,791
At 31 July 2024 3,208 4,583 7,791
Net book value
At 31 July 2024 31,792 15,417 47,209
5 Debtors 2024
£
Trade debtors 311,200
Other debtors 18,426
329,626
6 Creditors: amounts falling due within one year 2024
£
Trade creditors 205,687
Taxation and social security costs 25,129
Other creditors 9,341
240,157
7 Creditors: amounts falling due after one year 2024
£
Other creditors 563,613
8 Other information
Pontardawe Apothecary Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
62 Herbert Street
Pontardawe
Swansea
SA8 4ED
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