BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of retail pharmacy. 28 February 2025 9 12 NI049339 2024-04-30 NI049339 2023-04-30 NI049339 2022-04-30 NI049339 2023-05-01 2024-04-30 NI049339 2022-05-01 2023-04-30 NI049339 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI049339 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI049339 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI049339 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI049339 uk-bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 NI049339 uk-bus:Director2 2023-05-01 2024-04-30 NI049339 uk-bus:CompanySecretary1 2023-05-01 2024-04-30 NI049339 uk-bus:RegisteredOffice 2023-05-01 2024-04-30 NI049339 uk-bus:Agent1 2023-05-01 2024-04-30 NI049339 uk-core:ShareCapital 2024-04-30 NI049339 uk-core:ShareCapital 2023-04-30 NI049339 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI049339 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI049339 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI049339 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI049339 uk-bus:FRS102 2023-05-01 2024-04-30 NI049339 uk-core:Goodwill 2023-05-01 2024-04-30 NI049339 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI049339 uk-core:Goodwill 2023-04-30 NI049339 uk-core:Goodwill 2024-04-30 NI049339 uk-core:CurrentFinancialInstruments 2024-04-30 NI049339 uk-core:CurrentFinancialInstruments 2023-04-30 NI049339 uk-core:WithinOneYear 2024-04-30 NI049339 uk-core:WithinOneYear 2023-04-30 NI049339 uk-core:WithinOneYear 2024-04-30 NI049339 uk-core:WithinOneYear 2023-04-30 NI049339 uk-core:AfterOneYear 2024-04-30 NI049339 uk-core:AfterOneYear 2023-04-30 NI049339 uk-core:BetweenOneTwoYears 2024-04-30 NI049339 uk-core:BetweenOneTwoYears 2023-04-30 NI049339 uk-core:BetweenTwoFiveYears 2024-04-30 NI049339 uk-core:BetweenTwoFiveYears 2023-04-30 NI049339 uk-core:MoreThanFiveYears 2024-04-30 NI049339 uk-core:MoreThanFiveYears 2023-04-30 NI049339 uk-core:OtherMiscellaneousReserve 2023-04-30 NI049339 uk-core:OtherMiscellaneousReserve 2023-05-01 2024-04-30 NI049339 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI049339 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 NI049339 uk-core:OtherDeferredTax 2024-04-30 NI049339 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-30 NI049339 uk-core:OtherMiscellaneousReserve 2024-04-30 NI049339 2023-05-01 2024-04-30 NI049339 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI049339
 
 
Fullarton Pharmacy Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 30 April 2024
Fullarton Pharmacy Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Adam Fullarton-Healey
Carole Anne Fullarton-Healey
 
 
Company Secretary Adam Fullarton-Healey
 
 
Company Registration Number NI049339
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
 
 
Business Address 93 Galwally Avenue
Belfast
BT8 7AJ
 
 
Accountants Muldoon & Co Ltd
Chartered Accountants & Registered Auditors
16 Mount Charles
Belfast
BT7 1NZ
 
 
Bankers Bank of Ireland
  4-8 High Street
  Belfast
  BT1 2BA



Fullarton Pharmacy Limited
DIRECTORS' REPORT
for the financial year ended 30 April 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 30 April 2024.
 
Principal Activity
The principal activity of the company is that of retail pharmacy.
     
Directors
The directors who served during the financial year are as follows:
     
Adam Fullarton-Healey
Carole Anne Fullarton-Healey
   
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Adam Fullarton-Healey
Director
     
28 February 2025



Fullarton Pharmacy Limited
STATEMENT OF DIRECTORS' RESPONSIBILITIES
for the financial year ended 30 April 2024

 
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
 
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
     
On behalf of the board
     
     
     
___________________________
Adam Fullarton-Healey
Director
     
28 February 2025



Fullarton Pharmacy Limited
Company Registration Number: NI049339
STATEMENT OF FINANCIAL POSITION
as at 30 April 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 4 190,339 228,158
Property, plant and equipment 5 23,707 29,634
───────── ─────────
Non-Current Assets 214,046 257,792
───────── ─────────
 
Current Assets
Stocks 6 184,465 157,233
Debtors 7 215,793 205,321
Cash and cash equivalents 33,734 35,143
───────── ─────────
433,992 397,697
───────── ─────────
Creditors: amounts falling due within one year 8 (183,890) (198,520)
───────── ─────────
Net Current Assets 250,102 199,177
───────── ─────────
Total Assets less Current Liabilities 464,148 456,969
 
Creditors:
amounts falling due after more than one year 9 (459,475) (446,224)
 
Provisions for liabilities 11 (4,504) (4,983)
───────── ─────────
Net Assets 169 5,762
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 167 5,760
───────── ─────────
Equity attributable to owners of the company 169 5,762
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement.
           
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 28 February 2025 and signed on its behalf by
           
           
           
________________________________          
Adam Fullarton-Healey          
Director          
           



Fullarton Pharmacy Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Fullarton Pharmacy Limited is a company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 9 12
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 May 2023 756,372 756,372
  ───────── ─────────
 
At 30 April 2024 756,372 756,372
  ───────── ─────────
Amortisation
At 1 May 2023 528,214 528,214
Charge for financial year 37,819 37,819
  ───────── ─────────
At 30 April 2024 566,033 566,033
  ───────── ─────────
Net book value
At 30 April 2024 190,339 190,339
  ═════════ ═════════
At 30 April 2023 228,158 228,158
  ═════════ ═════════
       
5. Property, plant and equipment
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 May 2023 127,700 127,700
  ───────── ─────────
 
At 30 April 2024 127,700 127,700
  ───────── ─────────
Depreciation
At 1 May 2023 98,066 98,066
Charge for the financial year 5,927 5,927
  ───────── ─────────
At 30 April 2024 103,993 103,993
  ───────── ─────────
Net book value
At 30 April 2024 23,707 23,707
  ═════════ ═════════
At 30 April 2023 29,634 29,634
  ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 184,465 157,233
  ═════════ ═════════
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 107,919 110,188
Directors' current accounts (Note 13) 96,328 78,874
Taxation  (Note 10) 9,644 9,660
Prepayments and accrued income 1,902 6,599
  ───────── ─────────
  215,793 205,321
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 7,040 -
Bank Loans 14,266 20,321
Trade creditors 107,860 130,581
Taxation  (Note 10) 48,952 35,910
Other creditors - 10,199
Accruals:
Pension accrual 547 243
Other accruals 5,225 1,266
  ───────── ─────────
  183,890 198,520
  ═════════ ═════════
 
Bank loans are secured upon assets and undertakings of the company, assignment of key man policies and leases in relation to specific properties.
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 459,475 446,224
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 21,306 20,321
Repayable between one and two years 20,321 20,321
Repayable between two and five years 44,829 44,829
Repayable in five years or more 394,325 381,074
  ───────── ─────────
  480,781 466,545
  ═════════ ═════════
 
       
10. Taxation 2024 2023
  £ £
 
Debtors:
VAT 9,644 9,660
  ═════════ ═════════
Creditors:
Corporation tax 35,029 29,173
PAYE / NI 13,923 6,737
  ───────── ─────────
  48,952 35,910
  ═════════ ═════════
         
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 4,983 4,983 6,340
Charged to profit and loss (479) (479) (1,357)
  ───────── ───────── ─────────
At financial year end 4,504 4,504 4,983
  ═════════ ═════════ ═════════
   
12. Pension costs - defined contribution
 
The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £4,316 (2023 £6,497).
   
13. Directors' advances, credits and guarantees
 
During the year ended 30th April 2024 the company loaned the Directors £52,814 (2023: £75,802), £96,328 was remaining at the year end (2023: £78,874).