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REGISTERED NUMBER: 06904148 (England and Wales)









PENTYRCH PHARMACY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENTYRCH PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: C K Chan





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
SOUTH GLAMORGAN
CF14 2DX





REGISTERED NUMBER: 06904148 (England and Wales)






PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,930 12,421
Investments 5 1,193,723 1,193,723
1,207,653 1,206,144

CURRENT ASSETS
Stocks 6 33,350 27,850
Debtors 7 704,159 641,945
Cash at bank and in hand 8,477 83,934
745,986 753,729
CREDITORS
Amounts falling due within one year 8 730,134 630,752
NET CURRENT ASSETS 15,852 122,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,223,505

1,329,121

CREDITORS
Amounts falling due after more than one
year

9

707,654

808,491
NET ASSETS 515,851 520,630

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 515,751 520,530
SHAREHOLDERS' FUNDS 515,851 520,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 17 March 2025 and were signed by:





C K Chan - Director


PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Pentyrch Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Group accounts
In preparing these financial statements advantage has been taken of the exemptions conferred by section 399 of the Companies Act 2006 not to prepare consolidated group accounts, on the grounds that the group is entitled to the benefit of those exemptions as a small size group. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:-

Revenue represents retail sales to customers and is measured at fair value of the consideration received or receivable and is recognised when all risk and rewards of ownership are transferred to the end customer.

Revenue from NHS services, including prescriptions and other related services, is recognised when the pharmacy has provided the service and is entitled to receive payment.This includes NHS prescriptions dispensed, which are recorded as turnover once verified and submitted for reimbursement, and any NHS income for commissioned services, which is recognised when the service obligation to the NHS is met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at costs and reviewed periodically for any indication of impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

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.


PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits
The costs of short-term employee benefit are recognised as a liability and an expense, unless those costs are required to be recognised as part of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's
services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 14,570 9,000 8,920 32,490
Additions - - 6,062 6,062
At 30 September 2024 14,570 9,000 14,982 38,552
DEPRECIATION
At 1 October 2023 11,848 3,036 5,185 20,069
Charge for year 545 1,491 2,517 4,553
At 30 September 2024 12,393 4,527 7,702 24,622
NET BOOK VALUE
At 30 September 2024 2,177 4,473 7,280 13,930
At 30 September 2023 2,722 5,964 3,735 12,421

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 1,193,723
NET BOOK VALUE
At 30 September 2024 1,193,723
At 30 September 2023 1,193,723

The company holds 100% of the issued share capital in Gravells Llangennech Limited, a company incorporated in the United Kingdom, with its principal activity being retail pharmacy.

The company also holds 60% of the issued share capital in Chan's Pharma Limited, a company incorporated in the United Kingdom, with its principal activity being retail pharmacy.

6. STOCKS
2024 2023
£    £   
Stocks 33,350 27,850

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 167,157 73,950
Amounts owed by group undertakings 359,686 394,405
Other debtors 177,316 173,590
704,159 641,945

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 138,200 126,371
Trade creditors 129,883 110,763
Taxation and social security 52,537 36,397
Other creditors 409,514 357,221
730,134 630,752

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 707,654 808,491

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,000 9,000
Between one and five years 36,000 45,000
45,000 54,000

11. SECURED DEBTS

The company's bankers hold a fixed and floating charge including a negative pledge over all company properties and undertaking.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

PENTYRCH PHARMACY LIMITED (REGISTERED NUMBER: 06904148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. TRANSACTIONS WITH DIRECTOR

As at 30 September 2024 an amount of £100,000 (2023: £100,000) was owed to the director. This amount is included within creditors falling due within one year.

The balance is interest free and repayable on demand.

14. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of C K Chan Limited, which is its parent company. Under the provisions of Financial Reporting Standard 102, Section 33.1A, the company has taken advantage of the exemption from disclosing transactions with its parent company and wholly owned subsidiaries within the group.

As at 30 September 2024, an amount of £154,000 (2023: £154,000) was owed to the company by KHB Pharma Ltd. This balance is included within other debtors falling due within one year. KHB Pharma Ltd is considered a related party due to common director ownership.

As at 30 September 2024, an amount of £190,160 (2023: £204,951) was owed to Chan's Pharma Ltd by the company. This balance is included within trade debtors due within one year. Chan's Pharma Ltd is considered a related party due to common control.

All related party transactions were unsecured, interest-free, and repayable on demand, unless otherwise stated.