2023-09-01 04045959 2024-08-31 04045959 2023-09-01 2024-08-31 04045959 2023-08-31 04045959 2022-09-01 2023-08-31 04045959 uk-core:WithinOneYear 2023-08-31 04045959 uk-core:WithinOneYear 2024-08-31 04045959 uk-core:AfterOneYear 2023-08-31 04045959 uk-core:AfterOneYear 2024-08-31 04045959 uk-core:ShareCapital 2024-08-31 04045959 uk-core:ShareCapital 2023-08-31 04045959 uk-core:SharePremium 2024-08-31 04045959 uk-core:SharePremium 2023-08-31 04045959 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 04045959 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 04045959 uk-bus:Director1 2023-09-01 2024-08-31 04045959 uk-core:InvestmentPropertyIncludedWithinPPE 2023-09-01 2024-08-31 04045959 uk-core:PlantMachinery 2023-09-01 2024-08-31 04045959 uk-core:MotorCars 2023-09-01 2024-08-31 04045959 uk-core:MotorCars 2023-08-31 04045959 uk-core:PlantMachinery 2023-08-31 04045959 uk-core:InvestmentPropertyIncludedWithinPPE 2023-08-31 04045959 uk-core:InvestmentPropertyIncludedWithinPPE 2024-08-31 04045959 uk-core:PlantMachinery 2024-08-31 04045959 uk-core:MotorCars 2024-08-31 04045959 uk-core:CostValuation 2023-08-31 04045959 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-08-31 04045959 uk-core:AdditionsToInvestments 2024-08-31 04045959 uk-core:AdditionsToInvestments uk-core:Non-currentFinancialInstruments 2024-08-31 04045959 uk-core:DisposalsRepaymentsInvestments 2024-08-31 04045959 uk-core:DisposalsRepaymentsInvestments uk-core:Non-currentFinancialInstruments 2024-08-31 04045959 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2024-08-31 04045959 uk-core:CostValuation 2024-08-31 04045959 uk-core:Non-currentFinancialInstruments 2024-08-31 04045959 uk-core:Non-currentFinancialInstruments 2023-08-31 iso4217:GBP xbrli:pure 04045959 uk-bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04045959 uk-bus:FRS102 2023-09-01 2024-08-31 04045959 uk-bus:FilletedAccounts 2023-09-01 2024-08-31 04045959 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31
Mills Pharmacies Limited
Registered Number:04045959
For the year ended 31 August 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 August 2024
Mills Pharmacies Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
04045959
As at 31 August 2024
Mills Pharmacies Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
782,784
743,406
2
Financial assets
402,679
414,131
3
1,196,915
1,146,085
Current assets
Trade and other receivables
321,074
335,130
4
52,173
Cash and cash equivalents
7,653
342,783
373,247
Trade and other payables: amounts falling due within one
year
(18,035)
(28,215)
5
355,212
314,568
Net current assets
Total assets less current liabilities
1,511,483
1,501,297
Trade and other payables: amounts falling due after more
than one year
(19,944)
(43,640)
1,467,843
Net assets
1,481,353
Capital and reserves
Called up share capital
100
100
Share premium account
552,400
552,400
Retained earnings
915,343
928,853
1,467,843
1,481,353
Shareholders' funds
For the year ended 31 August 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
04045959
For the year ended 31 August 2024
Mills Pharmacies Limited
Statement of Financial Position Continued
Mr. N.D. Herdman Director
These financial statements were approved and authorised for issue by the Board on 12 February 2025 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 August 2024
Mills Pharmacies Limited
Notes to the Financial Statements
Statutory Information
Mills Pharmacies Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04045959.
Registered address:
10 Grange Terrace
Sunderland
SR2 7DF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Going Concern
The financial statements have been prepared on a going concern basis as the directors believe that no material
uncertainties exist. The directors have considered the level of funds held and the expected level of income and
expenditure for 12 months from authorising these financial statements and have concluded that the company is
able to continue as a going concern.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investments and properties
none
Plant and equipment
12.5% Straight line
20% Straight line
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
For the year ended 31 August 2024
Mills Pharmacies Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Assets financed by leasing or hire purchase agreements that give rights of ownership are treated as if they had been purchased outright. The amount capitalised is the fair value or cost of the asset and the corresponding commitments are accounted for as liabilities. Depreciation on the relevant assets is charged to the profit and loss account. Finance charges are allocated to accounting years so as to produce reasonable periodic charges over the length of the agreements. Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
2. Property, plant and equipment
Total
Motor vehicles
Plant and
equipment
Investments
and properties
£
£
£
£
Cost or
valuation
At 01 September 2023
874,650
66,038
99,756
708,856
54,709
51,014
3,695
-
Additions
At 31 August 2024
708,856
103,451
117,052
929,359
Provision for depreciation and impairment
At 01 September 2023
131,244
37,520
93,724
-
Charge for year
15,331
10,143
5,188
-
At 31 August 2024
146,575
47,663
98,912
-
At 31 August 2024
Net book value
708,856
4,539
69,389
782,784
At 31 August 2023
708,856
6,032
28,518
743,406
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For the year ended 31 August 2024
Mills Pharmacies Limited
Notes to the Financial Statements Continued
3. Investments held as fixed assets
Other investments
Total
At 01 September 2023
402,679
402,679
Cost
£
£
14,331
14,331
Additions
Disposals/Repayments
(2,879)
(2,879)
At 31 August 2024
414,131
414,131
At 31 August 2024
Net book value
414,131
414,131
At 01 September 2023
402,679
402,679
Investments are recognised initially at fair value which is normally the transaction price excluding transaction
costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or
their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
4. Trade and other receivables
2023
2024
£
£
Other debtors
335,130
321,074
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
2,345
1,821
Obligations under HP/Financial leases
22,119
12,779
Other creditors
3,751
3,435
28,215
18,035
6. Average number of persons employed
During the year the average number of employees were 6 (2023 : 6)
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