REGISTERED NUMBER: |
KENNEDY'S PHARMACY LIMITED |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
REGISTERED NUMBER: |
KENNEDY'S PHARMACY LIMITED |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
KENNEDY'S PHARMACY LIMITED (REGISTERED NUMBER: NI620318) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
KENNEDY'S PHARMACY LIMITED |
Company Information |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
KENNEDY'S PHARMACY LIMITED (REGISTERED NUMBER: NI620318) |
Statement of Financial Position |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Receivables: amounts falling due within one year |
6 |
Cash at bank and in hand |
PAYABLES |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PAYABLES |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KENNEDY'S PHARMACY LIMITED (REGISTERED NUMBER: NI620318) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Kennedy's Pharmacy Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment |
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: |
Fixtures and Fittings | - 15% Reducing Balance |
Motor Vehicles | - 25% Reducing Balance |
The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
Inventories |
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
KENNEDY'S PHARMACY LIMITED (REGISTERED NUMBER: NI620318) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand and deposits held at call with banks. |
Finance costs |
Finance costs are charged to the Income Statement over the term of the debt. |
Share capital |
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new |
ordinary shares are shown in equity as a deduction, net of tax, from the proceeds. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade receivables |
Other receivables |
7. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade payables |
Taxation and social security |
Other payables |
8. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
KENNEDY'S PHARMACY LIMITED (REGISTERED NUMBER: NI620318) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 20,000 | 20,000 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
A balance of £208,943 (2023- £178,704) was owing from the company to the director at the |
year end. |