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REGISTERED NUMBER: SC185507 (Scotland)




















The Central Pharmacy Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






The Central Pharmacy Limited (Registered number: SC185507)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Central Pharmacy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs R Gray



SECRETARY: MBM Secretarial Services Limited



REGISTERED OFFICE: Suite 2, Ground Floor
Orchard Brae House
30 Queensferry Road
Edinburgh
EH4 2HS



REGISTERED NUMBER: SC185507 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
Alloa Branch
19 High Street
Alloa
FK10 1JF



SOLICITORS: MBM Commercial LLP
5th Floor
125 Princes Street
Edinburgh
EH2 4AD

The Central Pharmacy Limited (Registered number: SC185507)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 275,197
Tangible assets 5 123,421 196,675
123,421 471,872

CURRENT ASSETS
Stocks 144,002 200,764
Debtors 6 694,760 449,869
Cash at bank and in hand 529,121 228,234
1,367,883 878,867
CREDITORS
Amounts falling due within one year 7 495,539 504,739
NET CURRENT ASSETS 872,344 374,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

995,765

846,000

CREDITORS
Amounts falling due after more than
one year

8

-

(327,304

)

PROVISIONS FOR LIABILITIES (317 ) (5,757 )
NET ASSETS 995,448 512,939

The Central Pharmacy Limited (Registered number: SC185507)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 995,446 512,937
995,448 512,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 director and authorised for issue on 4 March 2025 and were signed by:





Mrs R Gray - Director


The Central Pharmacy Limited (Registered number: SC185507)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Central Pharmacy 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.

Turnover and revenue recognition
Turnover represents amounts receivable from provision of pharmacy provisions net of VAT. Turnover is recognised when the goods pass to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost and 2% on cost
Plant and machinery etc - 25% on cost

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
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


The Central Pharmacy Limited (Registered number: SC185507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 846,755
Disposals (846,755 )
At 31 March 2024 -
AMORTISATION
At 1 April 2023 571,558
Eliminated on disposal (571,558 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 275,197

The Central Pharmacy Limited (Registered number: SC185507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 229,930 252,009 481,939
Additions - 3,693 3,693
Disposals (37,305 ) (161,081 ) (198,386 )
At 31 March 2024 192,625 94,621 287,246
DEPRECIATION
At 1 April 2023 78,485 206,779 285,264
Charge for year 8,356 8,357 16,713
Eliminated on disposal (9,035 ) (129,117 ) (138,152 )
At 31 March 2024 77,806 86,019 163,825
NET BOOK VALUE
At 31 March 2024 114,819 8,602 123,421
At 31 March 2023 151,445 45,230 196,675

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 127,737 283,902
Other debtors 567,023 165,967
694,760 449,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 75,051
Trade creditors 218,259 338,608
Amounts owed to group undertakings 19,343 19,493
Taxation and social security 214,871 20,867
Other creditors 43,066 50,720
495,539 504,739

The Central Pharmacy Limited (Registered number: SC185507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 327,304

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,269 66,186
Between one and five years 9,503 36,110
53,772 102,296

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 402,355

The company's bank hold a bond and floating charge over the company's assets.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs R Gray
Balance outstanding at start of year 83,549 81,907
Amounts advanced 306,734 1,642
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 390,283 83,549

The director's loan in unsecured and has no fixed terms of repayment. Interest is charged at 2.25% per annum.

The Central Pharmacy Limited (Registered number: SC185507)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. RELATED PARTY DISCLOSURES

During the period, the company's parent provided a guarantee for loan finance. The company received this facility free of charge.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Communicare Ltd.

The ultimate controlling party is Mrs R Gray.