IRIS Accounts Production v24.3.2.46 SC251342 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2513422023-09-30SC2513422024-09-30SC2513422023-10-012024-09-30SC2513422022-09-30SC2513422022-10-012023-09-30SC2513422023-09-30SC251342ns15:Scotland2023-10-012024-09-30SC251342ns14:PoundSterling2023-10-012024-09-30SC251342ns10:Director12023-10-012024-09-30SC251342ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC251342ns10:SmallEntities2023-10-012024-09-30SC251342ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC251342ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC251342ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC251342ns10:FullAccounts2023-10-012024-09-30SC25134212023-10-012024-09-30SC251342ns10:Director22023-10-012024-09-30SC251342ns10:Director32023-10-012024-09-30SC251342ns10:Director42023-10-012024-09-30SC251342ns10:Director52023-10-012024-09-30SC251342ns10:CompanySecretary12023-10-012024-09-30SC251342ns10:RegisteredOffice2023-10-012024-09-30SC251342ns5:CurrentFinancialInstruments2024-09-30SC251342ns5:CurrentFinancialInstruments2023-09-30SC251342ns5:ShareCapital2024-09-30SC251342ns5:ShareCapital2023-09-30SC251342ns5:RetainedEarningsAccumulatedLosses2024-09-30SC251342ns5:RetainedEarningsAccumulatedLosses2023-09-30SC251342ns5:NetGoodwill2023-10-012024-09-30SC251342ns5:PlantMachinery2023-10-012024-09-30SC251342ns5:NetGoodwill2023-09-30SC251342ns5:NetGoodwill2024-09-30SC251342ns5:NetGoodwill2023-09-30SC251342ns5:LandBuildings2023-09-30SC251342ns5:PlantMachinery2023-09-30SC251342ns5:LandBuildings2023-10-012024-09-30SC251342ns5:LandBuildings2024-09-30SC251342ns5:PlantMachinery2024-09-30SC251342ns5:LandBuildings2023-09-30SC251342ns5:PlantMachinery2023-09-30SC251342ns5:CostValuation2023-09-30SC251342ns5:AdditionsToInvestments2024-09-30SC251342ns5:CostValuation2024-09-30SC251342ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-30SC251342ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-30SC251342ns5:WithinOneYear2024-09-30SC251342ns5:WithinOneYear2023-09-30SC251342ns5:BetweenOneFiveYears2024-09-30SC251342ns5:BetweenOneFiveYears2023-09-30SC251342ns5:MoreThanFiveYears2024-09-30SC251342ns5:MoreThanFiveYears2023-09-30SC251342ns5:AllPeriods2024-09-30SC251342ns5:AllPeriods2023-09-30SC2513421ns10:Director12023-09-30SC2513421ns10:Director12022-09-30SC2513421ns10:Director12023-10-012024-09-30SC2513421ns10:Director12022-10-012023-09-30SC2513421ns10:Director12024-09-30SC2513421ns10:Director12023-09-30
REGISTERED NUMBER: SC251342 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

The Milngavie Apothecary's Company
Limited

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Milngavie Apothecary's Company
Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: K J Wilson
G Wilson
C Wilson
S M Wilson
S C Wilson





SECRETARY: Mrs S Wilson





REGISTERED OFFICE: 100 High Street
Linlithgow
West Lothian
EH49 7AQ





REGISTERED NUMBER: SC251342 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 176,738 237,318
Tangible assets 5 230,890 312,907
Investments 6 2,059,696 2,039,696
Investment property 7 851,613 851,613
3,318,937 3,441,534

CURRENT ASSETS
Stocks 340,816 360,723
Debtors 8 1,195,618 596,120
Investments 9 970,550 1,274,071
Cash at bank and in hand 564,668 911,229
3,071,652 3,142,143
CREDITORS
Amounts falling due within one year 10 761,974 836,958
NET CURRENT ASSETS 2,309,678 2,305,185
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,628,615

5,746,719

CAPITAL AND RESERVES
Called up share capital 3,000,001 3,000,001
Retained earnings 2,628,614 2,746,718
SHAREHOLDERS' FUNDS 5,628,615 5,746,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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 Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





K J Wilson - Director


The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

The Milngavie Apothecary's Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the aquisition of business' in 2003 and 2007 was initially measured at cost and is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method.

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and on deposit with banks.


The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Investments
Listed investments are stated at their fair value based on open market prices at the balance sheet date as provided by the company's investment managers. Unlisted investments are valued at fair value by the company's directors.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and on deposit with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 40 ) .

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 3,634,674
AMORTISATION
At 1 October 2023 3,397,356
Charge for year 60,580
At 30 September 2024 3,457,936
NET BOOK VALUE
At 30 September 2024 176,738
At 30 September 2023 237,318

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 100,892 1,419,861 1,520,753
Additions - 55,000 55,000
Disposals - (37,449 ) (37,449 )
At 30 September 2024 100,892 1,437,412 1,538,304
DEPRECIATION
At 1 October 2023 69,081 1,138,765 1,207,846
Charge for year 8,223 119,432 127,655
Eliminated on disposal - (28,087 ) (28,087 )
At 30 September 2024 77,304 1,230,110 1,307,414
NET BOOK VALUE
At 30 September 2024 23,588 207,302 230,890
At 30 September 2023 31,811 281,096 312,907

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023 2,039,696
Additions 20,000
At 30 September 2024 2,059,696
NET BOOK VALUE
At 30 September 2024 2,059,696
At 30 September 2023 2,039,696

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 851,613
NET BOOK VALUE
At 30 September 2024 851,613
At 30 September 2023 851,613

Investment property was valued at fair value on 30 September 2024 by the directors.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 419,870 350,064
Other debtors 26,535 20,287
Accrued income 545 412
Wilson Grangemouth Ltd 678,148 110,363
Directors' current accounts 11,623 -
Tax - 52,175
VAT 56,647 59,598
Prepayments and accrued income 2,250 3,221
1,195,618 596,120

9. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Listed investments 970,550 1,274,071

The Milngavie Apothecary's Company
Limited (Registered number: SC251342)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 663,965 730,921
Social security and other taxes 42,584 52,999
Directors' current accounts - 874
Accrued expenses 55,425 52,164
761,974 836,958

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 36,066 36,040
Between one and five years 132,932 141,900
In more than five years 13,500 40,500
182,498 218,440

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
K J Wilson
Balance outstanding at start of year (874 ) 58,628
Amounts advanced 12,497 998
Amounts repaid - (60,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,623 (874 )

13. RELATED PARTY DISCLOSURES

The Milngavie Apothecary's Company Limited occupies a retail property in Biggar owned by a partnership in which the director Mr K Wilson has a interest. The partnership has made no charge for this property.

The Milngavie Apothecary's Company Limited has an investment property which is occupied by a director. The company make no charge for the rental of this property.

As at 30 September 2024 The Milngavie Apothecary's Company Limited has a balance due to them from Wilson Grangemouth Limited of £678,148. A director of The Milngavie Apothecary's Company Limited has a controlling interest in that company.