FAIRLEYS PHARMACY LIMITED

Company Registration Number:
08123391 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

FAIRLEYS PHARMACY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

FAIRLEYS PHARMACY LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 416,000 468,000
Tangible assets: 4 142,576 141,855
Total fixed assets: 558,576 609,855
Current assets
Stocks: 267,449 268,981
Debtors:   148,035 162,574
Cash at bank and in hand: 164,686 237,499
Total current assets: 580,170 669,054
Creditors: amounts falling due within one year:   (1,075,832) (1,192,941)
Net current assets (liabilities): (495,662) (523,887)
Total assets less current liabilities: 62,914 85,968
Total net assets (liabilities): 62,914 85,968
Capital and reserves
Called up share capital: 120 120
Profit and loss account: 62,794 85,848
Shareholders funds: 62,914 85,968

The notes form part of these financial statements

FAIRLEYS PHARMACY LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 October 2024
and signed on behalf of the board by:

Name: Hitesh Patel
Status: Director

The notes form part of these financial statements

FAIRLEYS PHARMACY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Motor Vehicle - 25% per annum on a reducing balance basis Furniture, Fittings & Equipment - 20% per annum on a straight line basis If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date. Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 5% per annum on a straight line basis If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

FAIRLEYS PHARMACY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 13 12

FAIRLEYS PHARMACY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible Assets

Total
Cost £
At 01 July 2023 1,040,000
At 30 June 2024 1,040,000
Amortisation
At 01 July 2023 572,000
Charge for year 52,000
At 30 June 2024 624,000
Net book value
At 30 June 2024 416,000
At 30 June 2023 468,000

FAIRLEYS PHARMACY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Tangible Assets

Total
Cost £
At 01 July 2023 188,375
Additions 48,841
At 30 June 2024 237,216
Depreciation
At 01 July 2023 46,520
Charge for year 48,120
At 30 June 2024 94,640
Net book value
At 30 June 2024 142,576
At 30 June 2023 141,855