Registered Number:04045959 |
For the year ended 31 August 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 August 2024
Mills Pharmacies Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Mills Pharmacies Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
782,784
743,406
2
402,679
414,131
3
1,196,915
1,146,085
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
100
100
552,400
552,400
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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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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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. |
10 Grange Terrace
Sunderland
SR2 7DF
The presentation currency is £ sterling. |
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. |
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
Plant and equipment
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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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 |
Motor vehicles
Investments |
and properties |
874,650
66,038
99,756
708,856
54,709
51,014
3,695
-
708,856
103,451
117,052
929,359
Provision for depreciation and impairment |
131,244
37,520
93,724
-
Charge for year
15,331
10,143
5,188
-
146,575
47,663
98,912
-
708,856
4,539
69,389
782,784
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 |
402,679
402,679
14,331
14,331
(2,879)
(2,879)
414,131
414,131
414,131
414,131
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
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
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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