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REGISTERED NUMBER: 10025982 (England and Wales)









G & C PHARMA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)






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


G & C PHARMA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Ms G E Davies Jones
Mrs C Harris





REGISTERED OFFICE: High Street Pharmacy
88 High Street
Barry
Vale of Glamorgan
CF62 7DX





REGISTERED NUMBER: 10025982 (England and Wales)

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 260,361 303,755
Tangible assets 5 224,966 237,178
Investments 6 2,151,917 2,151,917
2,637,244 2,692,850

CURRENT ASSETS
Stocks 7 96,769 127,652
Debtors 8 372,312 223,411
Cash at bank and in hand 66,647 172,373
535,728 523,436
CREDITORS
Amounts falling due within one year 9 1,231,811 1,145,798
NET CURRENT LIABILITIES (696,083 ) (622,362 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,941,161

2,070,488

CREDITORS
Amounts falling due after more than one
year

10

(921,580

)

(1,126,429

)

PROVISIONS FOR LIABILITIES 13 (19,742 ) (22,699 )
NET ASSETS 999,839 921,360

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

BALANCE SHEET - continued
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 999,739 921,260
SHAREHOLDERS' FUNDS 999,839 921,360

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





Ms G E Davies Jones - Director


G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

1. STATUTORY INFORMATION

G & C Pharma 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 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 their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have 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 directors continue 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.

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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:-

Sale of goods:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer. The amount revenue can be measured reliably, it is probable that the economic benefit associated with the transaction.

NHS income:

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.

Rental income is recognised at the date the rent is received.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lives:

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and estimated selling price less cost to sell after making due allowance for obsolete and slow moving items.


G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

2. ACCOUNTING POLICIES - continued
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 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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 realise 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 amortised 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 542,421
AMORTISATION
At 1 October 2023 238,666
Charge for year 43,394
At 30 September 2024 282,060
NET BOOK VALUE
At 30 September 2024 260,361
At 30 September 2023 303,755

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 140,000 34,698 91,159
Additions - - 5,880
At 30 September 2024 140,000 34,698 97,039
DEPRECIATION
At 1 October 2023 - 13,488 19,969
Charge for year - 4,242 15,414
At 30 September 2024 - 17,730 35,383
NET BOOK VALUE
At 30 September 2024 140,000 16,968 61,656
At 30 September 2023 140,000 21,210 71,190

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 7,495 6,519 279,871
Additions - 5,461 11,341
At 30 September 2024 7,495 11,980 291,212
DEPRECIATION
At 1 October 2023 4,333 4,903 42,693
Charge for year 791 3,106 23,553
At 30 September 2024 5,124 8,009 66,246
NET BOOK VALUE
At 30 September 2024 2,371 3,971 224,966
At 30 September 2023 3,162 1,616 237,178

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 2,151,917
NET BOOK VALUE
At 30 September 2024 2,151,917
At 30 September 2023 2,151,917

7. STOCKS
2024 2023
£    £   
Stocks 96,769 127,652

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 347,687 195,114
Other debtors 24,625 28,297
372,312 223,411

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 200,855 198,017
Trade creditors 274,211 286,294
Amounts owed to group undertakings 417,905 349,567
Taxation and social security 43,444 26,085
Other creditors 295,396 285,835
1,231,811 1,145,798

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 917,580 1,118,429
Other creditors 4,000 8,000
921,580 1,126,429

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 242,108 391,936

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,400 21,400

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,118,435 1,316,446

The bank loans are secured by way of a fixed and floating charge.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 19,742 22,699

G & C PHARMA LIMITED (REGISTERED NUMBER: 10025982)

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

13. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 22,699
Decelerated capital allowances (2,957 )
Balance at 30 September 2024 19,742

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

15. TRANSACTIONS WITH DIRECTORS

As at 30 September 2024 an amount of £266,964 (2023 - £269,313) was owed to the directors which is included within creditors amounts falling due within one year.

The directors operate an interest free loan account with the company which is repayable on demand.

16. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions available under FRS 102 section 33.1 A and has not disclosed transactions with wholly owned subsidiaries of immediate parent company G & C Pharma Limited.