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Registered Number: 05327119
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2024

for

MILLBROOK PHARMACY LTD

Directors Mr A Allison
Miss C Randall
Registered Number 05327119
Registered Office 5 Sandy Court
Ashleigh Way
Plymouth
Devon
PL7 5JX
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 July 2024
Principal activities
The principal activity of the company in the year under review was that of dispensing chemist in specialised stores.
Directors
The directors who have held office during the whole of the year were as follows:
Mr A Allison
Miss C Randall
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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). 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 then apply them consistently
  • make judgments 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr A Allison
Director

Date approved: 13 March 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 11,667    29,167 
Tangible fixed assets 4 393,363    396,033 
405,030    425,200 
Current assets      
Stocks 5 30,810    31,984 
Debtors 6 80,136    77,807 
Cash at bank and in hand 28,648    30,435 
139,594    140,226 
Creditors: amount falling due within one year 7 (97,612)   (106,827)
Net current assets 41,982    33,399 
 
Total assets less current liabilities 447,012    458,599 
Provisions for liabilities 8 (1,247)   (1,707)
Net assets 445,765    456,892 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 445,665    456,792 
Shareholders' funds 445,765    456,892 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 March 2025 and were signed on its behalf by:


-------------------------------
Mr A Allison
Director
3
General Information
Millbrook Pharmacy Ltd is a private company, limited by shares, registered in England and Wales, registration number 05327119, registration address 5 Sandy Court, Ashleigh Way, Plymouth, Devon, PL7 5JX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Deferred taxation
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.
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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 3 yr Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 9 (2023 : 9).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2023 350,000    350,000 
Additions  
Disposals  
At 31 July 2024 350,000    350,000 
Amortisation
At 01 August 2023 320,833    320,833 
Charge for year 17,500    17,500 
On disposals  
At 31 July 2024 338,333    338,333 
Net book values
At 31 July 2024 11,667    11,667 
At 31 July 2023 29,167    29,167 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 August 2023 385,687    7,995    203,836    21,596    619,114 
Additions        
Disposals        
At 31 July 2024 385,687    7,995    203,836    21,596    619,114 
Depreciation
At 01 August 2023   7,620    193,976    21,485    223,081 
Charge for year   94    2,465    111    2,670 
On disposals        
At 31 July 2024   7,714    196,441    21,596    225,751 
Net book values
Closing balance as at 31 July 2024 385,687    281    7,395      393,363 
Opening balance as at 01 August 2023 385,687    375    9,860    111    396,033 


5.

Stocks

2024
£
  2023
£
Stocks 30,810    31,984 
30,810    31,984 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 61,475    59,706 
Other Debtors 18,661    18,101 
80,136    77,807 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 91,515    88,929 
Taxation and Social Security 2,883    14,394 
Other Creditors 3,214    3,504 
97,612    106,827 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,247    1,707 
1,247    1,707 

9.

Ultimate controlling party

The ultimate controlling party is Randall Allison Limited
4