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Registration number: 07682753

Accrington Late Night Pharmacy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Accrington Late Night Pharmacy Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 16

iXBRL Detailed Profit and Loss Account

17 to 18

 

Accrington Late Night Pharmacy Ltd

Company Information

Director

Mr Mohammed Answer Ghafoor

Registered office

188 Blackburn Road
Accrington
Lancashire
BB5 0AQ

Accountants

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

Accrington Late Night Pharmacy Ltd

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

Mr Mohammed Answer Ghafoor

Principal activity

The principal activity of the company is Pharmacy

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 November 2024
 

.........................................
Mr Mohammed Answer Ghafoor
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Accrington Late Night Pharmacy Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Accrington Late Night Pharmacy Ltd for the year ended 30 June 2024 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Accrington Late Night Pharmacy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Accrington Late Night Pharmacy Ltd and state those matters that we have agreed to state to the Board of Directors of Accrington Late Night Pharmacy Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Accrington Late Night Pharmacy Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Accrington Late Night Pharmacy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Accrington Late Night Pharmacy Ltd. You consider that Accrington Late Night Pharmacy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Accrington Late Night Pharmacy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

25 November 2024

 

Accrington Late Night Pharmacy Ltd

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

2,752,805

2,530,268

Cost of sales

 

(2,180,098)

(1,989,663)

Gross profit

 

572,707

540,605

Administrative expenses

 

(442,032)

(378,593)

Operating profit

 

130,675

162,012

Other interest receivable and similar income

 

574

17

Interest payable and similar expenses

 

(10,826)

(9,754)

   

(10,252)

(9,737)

Profit before tax

4

120,423

152,275

Tax on profit

 

(31,247)

(18,348)

Profit for the financial year

 

89,176

133,927

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Accrington Late Night Pharmacy Ltd

Statement of Comprehensive Income for the Year Ended 30 June 2024

2024
£

2023
£

Profit for the year

89,176

133,927

Total comprehensive income for the year

89,176

133,927

 

Accrington Late Night Pharmacy Ltd

(Registration number: 07682753)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

350,000

350,000

Tangible assets

6

489,075

509,505

 

839,075

859,505

Current assets

 

Stocks

7

227,000

128,557

Debtors

8

75,076

57,267

Cash at bank and in hand

 

283,621

238,753

 

585,697

424,577

Creditors: Amounts falling due within one year

9

(786,671)

(702,884)

Net current liabilities

 

(200,974)

(278,307)

Total assets less current liabilities

 

638,101

581,198

Creditors: Amounts falling due after more than one year

9

(243,046)

(275,319)

Net assets

 

395,055

305,879

Capital and reserves

 

Called up share capital

10

110

110

Retained earnings

394,945

305,769

Shareholders' funds

 

395,055

305,879

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 November 2024
 

.........................................
Mr Mohammed Answer Ghafoor
Director

 

Accrington Late Night Pharmacy Ltd

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2023

110

305,769

305,879

Profit for the year

-

89,176

89,176

Total comprehensive income

-

89,176

89,176

At 30 June 2024

110

394,945

395,055

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

110

171,842

171,952

Profit for the year

-

133,927

133,927

At 30 June 2023

110

305,769

305,879

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
188 Blackburn Road
Accrington
Lancashire
BB5 0AQ
England

These financial statements were authorised for issue by the director on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% reducing balance

Fxtures and Fittings

20% reducing balance

Plant and Machinery

20% reducing balance

Motor Vehicles

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 33 (2023 - 35).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

36,286

31,576

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

350,000

350,000

At 30 June 2024

350,000

350,000

Amortisation

Carrying amount

At 30 June 2024

350,000

350,000

At 30 June 2023

350,000

350,000

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

333,199

481,696

49,601

2,984

867,480

Additions

-

15,855

-

-

15,855

At 30 June 2024

333,199

497,551

49,601

2,984

883,335

Depreciation

At 1 July 2023

-

320,768

34,514

2,693

357,975

Charge for the year

-

33,210

3,017

58

36,285

At 30 June 2024

-

353,978

37,531

2,751

394,260

Carrying amount

At 30 June 2024

333,199

143,573

12,070

233

489,075

At 30 June 2023

333,199

160,928

15,087

291

509,505

Included within the net book value of land and buildings above is £333,199 (2023 - £333,199) in respect of freehold land and buildings.
 

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Stocks

2024
£

2023
£

Other inventories

227,000

128,557

8

Debtors

Current

2024
£

2023
£

Trade debtors

16,419

-

Other debtors

58,657

57,267

 

75,076

57,267

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

393,445

307,308

Trade creditors

 

292,182

281,780

Taxation and social security

 

31,993

19,794

Accruals and deferred income

 

-

2,755

Other creditors

 

69,051

91,247

 

786,671

702,884

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

243,046

275,319

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

Ordinary B Shares of £1 each

1

1

1

1

Ordinary C Shares of £1 each

1

1

1

1

Ordinary D Shares of £1 each

7

7

7

7

Ordinary E Shares of £1 each

1

1

1

1

110

110

110

110

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

186,108

218,381

Other borrowings

56,938

56,938

243,046

275,319

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Current loans and borrowings

2024
£

2023
£

Other borrowings

393,445

307,308

12

Related party transactions

 

Accrington Late Night Pharmacy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,600

-

 

Accrington Late Night Pharmacy Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2024

2024
£

2023
£

Turnover/revenue

2,752,805

2,530,268

Cost of sales

Opening raw materials

(128,557)

(131,077)

Purchase of raw materials and consumables

(2,045,504)

(1,692,354)

Closing raw materials

227,000

128,557

Subcontractor costs

(233,037)

(294,789)

Gross profit

572,707

540,605

Distribution costs

Administrative expenses

Audit and accountancy other services

(6,533)

(7,994)

Advertising, promotions and marketing costs

(2,847)

(1,060)

Rent, rates and services costs

(10,583)

(14,597)

Utilities costs

(13,932)

(9,664)

Operating lease expenditure

(612)

(897)

Other repairs and maintenance costs

(7,751)

(6,316)

Cleaning costs

(68)

(195)

Depreciation of fixed assets

(36,286)

(31,576)

Vehicle costs

(12,398)

(11,104)

Other staff costs

(1,406)

(510)

Wages and salaries excluding directors

(174,073)

(179,006)

Social security costs excluding directors

(3,082)

-

Staff costs excluding directors

(177,155)

(179,006)

Salaries and fees, directors

(9,600)

-

Training

-

(198)

Legal and professional costs

(19,448)

(5,018)

Bank charges

(1,240)

(1,506)

Insurance costs

(6,681)

(4,249)

IT and computing

(31,341)

(18,987)

Telecommunications

(2,340)

(2,582)

Printing, postage and stationery

(2,810)

(4,894)

Charitable donations

(81,883)

(67,403)

Subscriptions

(12,303)

(8,536)

Other costs

(4,815)

(2,301)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

130,675

162,012

Bank interest and similar income receivable

574

17

Non-bank interest and similar charges

(10,826)

(9,754)

 

Accrington Late Night Pharmacy Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2024

2024
£

2023
£

Profit on ordinary activities before taxation

120,423

152,275

Tax on profit or loss on ordinary activities

(31,247)

(18,348)

Profit for the financial year

89,176

133,927