Registration number:
Station Avenue Pharmacy Limited
for the Year Ended 30 June 2024
Station Avenue Pharmacy Limited
(Registration number: 03741464)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
- |
- |
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Tangible assets |
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- |
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- |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
Mr J M McGill
Director
Station Avenue Pharmacy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Accounting policies |
Statutory information
Station Avenue Pharmacy Limited is a private company, limited by shares, domiciled in England and Wales, company number 03741464. The registered office is at The Medical Centre, Station Avenue, Bridlington, YO16 4LZ.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Going concern
After due consideration of all relevant factors including the continuing financial support provided by the company's creditors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the annual report and accounts.
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.
Tax
The tax expense for the period comprises 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.
Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Station Avenue Pharmacy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
1 |
Accounting policies (continued) |
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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15% straight line |
Motor vehicles |
15% straight line |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Seprately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intaingible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
27% straight line |
Trademarks, patents and licences |
20% straight line |
Stocks
Stocks are stated at the lower of cost and net realisable value.
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.
Station Avenue Pharmacy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
1 |
Accounting policies (continued) |
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Trademarks, patents and licences |
Total |
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Cost or valuation |
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At 1 July 2023 |
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At 30 June 2024 |
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Amortisation |
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At 1 July 2023 |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
- |
- |
- |
At 30 June 2023 |
- |
- |
- |
Station Avenue Pharmacy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Tangible assets |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2023 |
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- |
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Additions |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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- |
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Charge for the year |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
- |
- |
- |
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments and accrued income |
- |
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Other debtors |
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Creditors |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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- |
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Station Avenue Pharmacy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
756 |
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756 |
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|
265 |
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265 |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
The company has taken advantage of the exemptions available under FRS 102 (1A) from disclosing transactions with other members of the group.
During the year J M McGill, a director received loans from the company of £111,575. At the balance sheet date the amount due from J M McGill, a director was £111,575 (2023: £Nil). The loan is interest free.
Parent and ultimate parent undertaking |
The company's immediate parent is