13 14 Great Eccleston Medical Supplies Limited 03331442 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of pharmaceutical supplies. Digita Accounts Production Advanced 6.30.9574.0 true 03331442 2023-08-01 2024-07-31 03331442 2024-07-31 03331442 core:CurrentFinancialInstruments 2024-07-31 03331442 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03331442 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 03331442 core:BetweenOneFiveYears 2024-07-31 03331442 core:WithinOneYear 2024-07-31 03331442 core:FurnitureFittingsToolsEquipment 2024-07-31 03331442 core:MotorVehicles 2024-07-31 03331442 core:OtherPropertyPlantEquipment 2024-07-31 03331442 bus:SmallEntities 2023-08-01 2024-07-31 03331442 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03331442 bus:FilletedAccounts 2023-08-01 2024-07-31 03331442 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03331442 bus:RegisteredOffice 2023-08-01 2024-07-31 03331442 bus:Director1 2023-08-01 2024-07-31 03331442 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03331442 core:FurnitureFittings 2023-08-01 2024-07-31 03331442 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 03331442 core:MotorVehicles 2023-08-01 2024-07-31 03331442 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 03331442 core:PlantMachinery 2023-08-01 2024-07-31 03331442 countries:AllCountries 2023-08-01 2024-07-31 03331442 2023-07-31 03331442 core:FurnitureFittingsToolsEquipment 2023-07-31 03331442 core:MotorVehicles 2023-07-31 03331442 core:OtherPropertyPlantEquipment 2023-07-31 03331442 2022-08-01 2023-07-31 03331442 2023-07-31 03331442 core:CurrentFinancialInstruments 2023-07-31 03331442 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03331442 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 03331442 core:BetweenOneFiveYears 2023-07-31 03331442 core:WithinOneYear 2023-07-31 03331442 core:FurnitureFittingsToolsEquipment 2023-07-31 03331442 core:MotorVehicles 2023-07-31 03331442 core:OtherPropertyPlantEquipment 2023-07-31 xbrli:pure iso4217:GBP

Registration number: 03331442

Great Eccleston Medical Supplies Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Great Eccleston Medical Supplies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Great Eccleston Medical Supplies Limited

(Registration number: 03331442)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

87,622

77,518

Current assets

 

Stocks

5

48,789

37,177

Debtors

6

203,696

25,066

Cash at bank and in hand

 

168,936

323,832

 

421,421

386,075

Creditors: Amounts falling due within one year

7

(314,671)

(426,474)

Net current assets/(liabilities)

 

106,750

(40,399)

Total assets less current liabilities

 

194,372

37,119

Creditors: Amounts falling due after more than one year

7

(79,203)

-

Provisions for liabilities

(21,905)

(19,379)

Net assets

 

93,264

17,740

Capital and reserves

 

Called up share capital

436

436

Retained earnings

92,828

17,304

Shareholders' funds

 

93,264

17,740

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Great Eccleston Medical Supplies Limited

(Registration number: 03331442)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 18 February 2025 and signed on its behalf by:
 

.........................................
Mr Imraan Khan
Director

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Farley Chemist
59 Higher Parr Street
St. Helens
WA9 1AD
England

These financial statements were authorised for issue by the Board on 18 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% on Reducing Balance

Motor Vehicles

25% on Reducing Balance

Plant & Machinery

15% on Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

8,157

109,261

4,090

121,508

Additions

1,149

36,827

-

37,976

At 31 July 2024

9,306

146,088

4,090

159,484

Depreciation

At 1 August 2023

6,880

33,233

3,877

43,990

Charge for the year

363

27,477

32

27,872

At 31 July 2024

7,243

60,710

3,909

71,862

Carrying amount

At 31 July 2024

2,063

85,378

181

87,622

At 31 July 2023

1,277

76,028

213

77,518

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

48,789

37,177

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

183

3,038

Amounts owed by related parties

202,387

-

Other debtors

 

1,126

22,028

   

203,696

25,066

 

Great Eccleston Medical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

20,636

-

Trade creditors

 

248,246

385,993

Taxation and social security

 

24,689

21,805

Accruals and deferred income

 

2,250

1,550

Other creditors

 

18,850

17,126

 

314,671

426,474

A debenture has been lodged at Companies House, in favour of Santander bank, with fixed and floating charges over all assets, dated 2 August 2021

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

79,203

-

8

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

20,636

-

Later than one year and not later than five years

79,203

-

99,839

-