Registered number
06307519
Pharmland Limited
Unaudited Filleted Accounts
31 July 2024
Pharmland Limited
Registered number: 06307519
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 237,198 233,245
Tangible assets 4 359,483 381,535
596,681 614,780
Current assets
Stocks 101,400 92,316
Debtors 5 342,682 345,745
Cash at bank and in hand 195,292 129,615
639,374 567,676
Creditors: amounts falling due within one year 6 (460,195) (624,965)
Net current assets/(liabilities) 179,179 (57,289)
Total assets less current liabilities 775,860 557,491
Creditors: amounts falling due after more than one year 7 (577,358) (334,347)
Provisions for liabilities (73,970) (17,438)
Net assets 124,532 205,706
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 123,532 204,706
Shareholder's funds 124,532 205,706
The director is 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 director acknowledges her 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.
Mrs E Holder
Director
Approved by the board on 12 March 2025
Pharmland Limited
Notes to the Accounts
for the year ended 31 July 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Motor Vehicles 25% on reducing balance
Equipment, fixtures & fittings 7.5% straight line
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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 237,198
At 31 July 2024 237,198
Amortisation
At 1 August 2023 3,953
Provided during the year (3,953)
At 31 July 2024 -
Net book value
At 31 July 2024 237,198
At 31 July 2023 233,245
Goodwill comprises the cost of an NHS contract and GPhC licence acquired on 26 May 2023.

In the opinion of the sole director the value of this contract and licence has not declined. In consequence, in order for the Accounts to give a True and Fair View as required by the Companies Act 2006, these costs have not been amortised.
4 Tangible fixed assets
Leasehold premises Motor vehicles Equipment, fixtures & fittings Total
£ £ £ £
Cost
At 1 August 2023 1 70,306 368,612 438,919
Additions - - 18,411 18,411
Disposals - - (948) (948)
At 31 July 2024 1 70,306 386,075 456,382
Depreciation
At 1 August 2023 1 33,938 23,445 57,384
Charge for the year - 9,092 30,956 40,048
On disposals - - (533) (533)
At 31 July 2024 1 43,030 53,868 96,899
Net book value
At 31 July 2024 - 27,276 332,207 359,483
At 31 July 2023 - 36,368 345,167 381,535
5 Debtors 2024 2023
£ £
Trade debtors 217,351 183,180
Other debtors 125,331 162,565
342,682 345,745
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,396 50,317
Obligations under finance lease and hire purchase contracts 24,213 9,442
Trade creditors 291,938 367,134
Director's loan account 82,531 156,808
Taxation and social security costs 4,883 6,127
Other creditors 35,234 35,137
460,195 624,965
7 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares 10 10
Bank loans 573,372 306,148
Obligations under finance lease and hire purchase contracts 3,976 28,189
577,358 334,347
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 740,455 786,869
9 Controlling party
The company is ultimately controlled by its director, Mrs E Holder, who holds 100% of the issued ordinary share capital.
10 Other information
Pharmland Limited is a private company limited by shares and incorporated in England. Its registered office is:
James House
40 Lagland Street
Poole
Dorset
BH15 1QG
Pharmland Limited 06307519 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Mrs E Holder No description of principal activity 06307519 2022-08-01 2023-07-31 06307519 core:WithinOneYear 2023-07-31 06307519 core:AfterOneYear 2023-07-31 06307519 core:ShareCapital 2023-07-31 06307519 core:RetainedEarningsAccumulatedLosses 2023-07-31 06307519 core:AllPeriods 2023-07-31 06307519 2023-08-01 2024-07-31 06307519 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06307519 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06307519 bus:Director40 2023-08-01 2024-07-31 06307519 1 2023-08-01 2024-07-31 06307519 2 2023-08-01 2024-07-31 06307519 core:Goodwill 2023-08-01 2024-07-31 06307519 core:LandBuildings 2023-08-01 2024-07-31 06307519 core:PlantMachinery 2023-08-01 2024-07-31 06307519 core:Vehicles 2023-08-01 2024-07-31 06307519 countries:England 2023-08-01 2024-07-31 06307519 bus:FRS102 2023-08-01 2024-07-31 06307519 bus:FilletedAccounts 2023-08-01 2024-07-31 06307519 2024-07-31 06307519 core:WithinOneYear 2024-07-31 06307519 core:AfterOneYear 2024-07-31 06307519 core:ShareCapital 2024-07-31 06307519 core:RetainedEarningsAccumulatedLosses 2024-07-31 06307519 core:Goodwill 2024-07-31 06307519 core:LandBuildings 2024-07-31 06307519 core:PlantMachinery 2024-07-31 06307519 core:Vehicles 2024-07-31 06307519 core:AllPeriods 2024-07-31 06307519 2023-07-31 06307519 core:Goodwill 2023-07-31 06307519 core:LandBuildings 2023-07-31 06307519 core:PlantMachinery 2023-07-31 06307519 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure