Registered number
08786628
CHASE LODGE HOSPITAL PHARMACY LTD
Filleted Accounts
31 March 2024
CHASE LODGE HOSPITAL PHARMACY LTD
Registered number: 08786628
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,182 15,979
Current assets
Stocks 29,520 22,328
Debtors 4 4,904,049 4,033,487
Cash at bank and in hand 4,902 2,789
4,938,471 4,058,604
Creditors: amounts falling due within one year 5 (3,968,149) (3,085,549)
Net current assets 970,322 973,055
Total assets less current liabilities 982,504 989,034
Creditors: amounts falling due after more than one year 6 (106,666) (106,666)
Net assets 875,838 882,368
Capital and reserves
Called up share capital 100 100
Profit and loss account 875,738 882,268
Shareholder's funds 875,838 882,368
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 member has 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.
Ibrahim Halil YAHLI
Director
Approved by the board on 24 February 2025
CHASE LODGE HOSPITAL PHARMACY LTD
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, as follows:
Plant and equipment 25% Reducing Balance
Fixtures, fittings and computer equipment 25% 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 corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and equip, fix-fittings, computers
£
Cost
At 1 April 2023 36,384
Additions 259
At 31 March 2024 36,643
Depreciation
At 1 April 2023 20,405
Charge for the year 4,056
At 31 March 2024 24,461
Net book value
At 31 March 2024 12,182
At 31 March 2023 15,979
4 Debtors 2024 2023
£ £
Trade debtors 193,976 171,230
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,706,730 3,844,345
Other debtors 3,343 17,912
4,904,049 4,033,487
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,966,422 1,193,613
Trade creditors 1,822,145 1,575,489
Taxation and social security costs 132,882 153,906
Other creditors 46,700 162,541
3,968,149 3,085,549
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 106,666 106,666
HSBC Bank PLC have a fixed charge and a floating charge on all the property and undertakings
of the company, dated 22 April 2015
7 Related party transactions
Included within debtors due over one year is an amount due from Chase Lodge Hospital Limited, a connected company, of £ 3,810,141 (2023: £2,985,872).
Included within other debtors is an amount due ( after adjusting £ 36,000 rent payable for the year) from Chase Lodge Health Limited, the parent company, of £ 896,589 (2023: £858,473).
8 Controlling party
The company's parent company is Chase Lodge Health Limited, a company registered in England.Chase Lodge Health Limited owns all the shares in issue, and its principal place of business is Chase Lodge Hospital,Mill Hill, London, NW7 2ED.
9 Other information
CHASE LODGE HOSPITAL PHARMACY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Chase Lodge,
Page Street
Mill Hill
NW7 2ED
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