Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302023-07-01falseNo description of principal activity118falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02911493 2023-07-01 2024-06-30 02911493 2022-07-01 2023-06-30 02911493 2024-06-30 02911493 2023-06-30 02911493 c:Director2 2023-07-01 2024-06-30 02911493 d:PlantMachinery 2023-07-01 2024-06-30 02911493 d:PlantMachinery 2024-06-30 02911493 d:PlantMachinery 2023-06-30 02911493 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02911493 d:MotorVehicles 2023-07-01 2024-06-30 02911493 d:MotorVehicles 2024-06-30 02911493 d:MotorVehicles 2023-06-30 02911493 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02911493 d:FurnitureFittings 2023-07-01 2024-06-30 02911493 d:FurnitureFittings 2024-06-30 02911493 d:FurnitureFittings 2023-06-30 02911493 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02911493 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02911493 d:CurrentFinancialInstruments 2024-06-30 02911493 d:CurrentFinancialInstruments 2023-06-30 02911493 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02911493 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02911493 d:ShareCapital 2024-06-30 02911493 d:ShareCapital 2023-06-30 02911493 d:RetainedEarningsAccumulatedLosses 2024-06-30 02911493 d:RetainedEarningsAccumulatedLosses 2023-06-30 02911493 c:FRS102 2023-07-01 2024-06-30 02911493 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02911493 c:FullAccounts 2023-07-01 2024-06-30 02911493 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02911493 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 02911493










THE BOWBURN PHARMACY COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
THE BOWBURN PHARMACY COMPANY LIMITED
REGISTERED NUMBER: 02911493

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,544
6,634

  
3,544
6,634

Current assets
  

Stocks
  
62,383
63,779

Debtors: amounts falling due within one year
 5 
687,250
550,313

Cash at bank and in hand
 6 
51,272
81,584

  
800,905
695,676

Creditors: amounts falling due within one year
 7 
(288,780)
(228,365)

Net current assets
  
 
 
512,125
 
 
467,311

Total assets less current liabilities
  
515,669
473,945

Provisions for liabilities
  

Deferred tax
  
(886)
(1,659)

  
 
 
(886)
 
 
(1,659)

Net assets
  
514,783
472,286


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
514,683
472,186

  
514,783
472,286

Page 1

 
THE BOWBURN PHARMACY COMPANY LIMITED
REGISTERED NUMBER: 02911493
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 March 2025.




Mr K A Simpson
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Bowburn Pharmacy Company Limited is a private company limited by shares incorporated in England and Wales, registration number 0211493. The registered office is Lakeside House, Kingfisher Way, Stockton-On-Tees, TS18 3NB and principal place of business is 2 Ash Terrace, Bowburn, Co Durham, DH6 5AS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mix of the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 8).

Page 6

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
12,006
10,290
18,202
40,498


Disposals
-
(10,290)
-
(10,290)



At 30 June 2024

12,006
-
18,202
30,208



Depreciation


At 1 July 2023
7,457
8,663
17,744
33,864


Charge for the year on owned assets
1,356
169
107
1,632


Disposals
-
(8,832)
-
(8,832)



At 30 June 2024

8,813
-
17,851
26,664



Net book value



At 30 June 2024
3,193
-
351
3,544



At 30 June 2023
4,549
1,627
458
6,634

Page 7

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
120,106
117,563

Amounts owed by group undertakings
448,035
414,035

Amounts owed by associates
100,000
-

Other debtors
16,058
16,744

Prepayments and accrued income
3,051
1,971

687,250
550,313



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
51,272
81,584

51,272
81,584



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
177,513
180,921

Amounts owed to associates
2,535
2,535

Corporation tax
94,104
39,359

Other taxation and social security
6,053
1,258

Other creditors
560
240

Accruals and deferred income
8,015
4,052

288,780
228,365



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,458 (2023 - £1,821) . Contributions totalling £560 (2023 - £240) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
THE BOWBURN PHARMACY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Related party transactions

Included within amounts owed by group undertakings is an amount of £448,035 (2023 - £414,035) due from Bowburn Healthcare Ltd.
Included within amounts owed by associates is an amount of £100,000 (2023 - £Nil) due from Knightingales Limited. Mr D G Jarvis, Mr K A Simpson and Mrs A J Simpson are directors and shareholders of Knightingales Limited.
During the period, the company paid management charges totalling £11,000 (2023 - £12,179) to its ultimate parent undertaking. A further £6,000 (2023 - £6,000) of management charges was paid to Knightingales Limited.


10.


Controlling party

The intermediate parent entity is Connolly, Keiller and Whitburn Limited.
The ultimate parent undertaking is Bowburn Healthcare Ltd, a company registered in England. The registered office of Bowburn Healthcare Ltd is Lakeside House, Kingfisher Way, Stockton-On-Tees, TS18 3NB.
 
Page 9