BrightAccountsProduction v1.0.0 v1.0.0 2023-12-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of retail pharmacy and supermarkets. 24 March 2025 NI020057 2024-11-30 NI020057 2023-11-30 NI020057 2022-11-30 NI020057 2023-12-01 2024-11-30 NI020057 2022-12-01 2023-11-30 NI020057 uk-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 NI020057 uk-curr:PoundSterling 2023-12-01 2024-11-30 NI020057 uk-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 NI020057 uk-bus:FullAccounts 2023-12-01 2024-11-30 NI020057 uk-bus:CompanySecretaryDirector1 2023-12-01 2024-11-30 NI020057 uk-bus:Director2 2023-12-01 2024-11-30 NI020057 uk-bus:CompanySecretary1 2023-12-01 2024-11-30 NI020057 uk-bus:RegisteredOffice 2023-12-01 2024-11-30 NI020057 uk-bus:Agent1 2023-12-01 2024-11-30 NI020057 uk-core:ShareCapital 2024-11-30 NI020057 uk-core:ShareCapital 2023-11-30 NI020057 uk-core:OtherReservesSubtotal 2024-11-30 NI020057 uk-core:OtherReservesSubtotal 2023-11-30 NI020057 uk-core:RetainedEarningsAccumulatedLosses 2024-11-30 NI020057 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI020057 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-11-30 NI020057 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 NI020057 uk-bus:FRS102 2023-12-01 2024-11-30 NI020057 uk-core:Goodwill 2023-12-01 2024-11-30 NI020057 uk-core:LandBuildings 2023-12-01 2024-11-30 NI020057 uk-core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 NI020057 uk-core:Goodwill 2023-11-30 NI020057 uk-core:Goodwill 2024-11-30 NI020057 uk-core:CostValuation 2024-11-30 NI020057 uk-core:Subsidiary1 2023-12-01 2024-11-30 NI020057 uk-core:CurrentFinancialInstruments 2024-11-30 NI020057 uk-core:CurrentFinancialInstruments 2023-11-30 NI020057 uk-core:WithinOneYear 2024-11-30 NI020057 uk-core:WithinOneYear 2023-11-30 NI020057 uk-core:WithinOneYear 2024-11-30 NI020057 uk-core:WithinOneYear 2023-11-30 NI020057 uk-core:AfterOneYear 2024-11-30 NI020057 uk-core:AfterOneYear 2023-11-30 NI020057 uk-core:BetweenOneTwoYears 2024-11-30 NI020057 uk-core:BetweenOneTwoYears 2023-11-30 NI020057 uk-core:BetweenTwoFiveYears 2024-11-30 NI020057 uk-core:BetweenTwoFiveYears 2023-11-30 NI020057 uk-core:MoreThanFiveYears 2024-11-30 NI020057 uk-core:MoreThanFiveYears 2023-11-30 NI020057 uk-core:OtherMiscellaneousReserve 2023-11-30 NI020057 uk-core:OtherMiscellaneousReserve 2023-12-01 2024-11-30 NI020057 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-11-30 NI020057 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-11-30 NI020057 uk-core:OtherDeferredTax 2024-11-30 NI020057 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-11-30 NI020057 uk-core:OtherMiscellaneousReserve 2024-11-30 NI020057 2023-12-01 2024-11-30 NI020057 uk-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI020057
 
 
Collinward Pharmacy and Stores Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 November 2024
Collinward Pharmacy and Stores Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Conor McAreavey
Mr. Gary Edward Neeson
 
 
Company Secretary Mr. Conor McAreavey
 
 
Company Registration Number NI020057
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
 
 
Business Address 195 Antrim Road
Belfast
BT15 2GW
 
 
Accountants Muldoon
Chartered Accountants
16 Mount Charles
Belfast
BT7 1NZ
 
 
Bankers Bank of Ireland
  1 Donegall Square South
  Belfast
  BT1 5LR
   
   
  Ulster Bank
  Antrim Road
  Belfast
 
   
Solicitors Francis Hanna & Co
  32-36 May Street
  Belfast
  BT1 4NZ



Collinward Pharmacy and Stores Limited
Company Registration Number: NI020057
BALANCE SHEET
as at 30 November 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 74,000 149,000
Tangible assets 5 1,414,465 1,407,317
Investments 6 2 2
───────── ─────────
Fixed Assets 1,488,467 1,556,319
───────── ─────────
 
Current Assets
Stocks 7 118,776 117,600
Debtors 8 199,379 195,792
Cash and cash equivalents 692,425 654,787
───────── ─────────
1,010,580 968,179
───────── ─────────
Creditors: amounts falling due within one year 9 (936,958) (915,592)
───────── ─────────
Net Current Assets 73,622 52,587
───────── ─────────
Total Assets less Current Liabilities 1,562,089 1,608,906
 
Creditors:
amounts falling due after more than one year 10 (826,087) (997,989)
 
Provisions for liabilities 12 (50,567) (25,372)
───────── ─────────
Net Assets 685,435 585,545
═════════ ═════════
 
Capital and Reserves
Called up share capital 3,333 3,333
Other reserves 1,667 1,667
Retained earnings 680,435 580,545
───────── ─────────
Equity attributable to owners of the company 685,435 585,545
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 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.
           
Approved by the Board and authorised for issue on 24 March 2025 and signed on its behalf by
           
           
________________________________          
Mr. Conor McAreavey          
Director          
           
           
________________________________
Mr. Gary Edward Neeson
Director
           



Collinward Pharmacy and Stores Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 November 2024

   
1. General Information
 
Collinward Pharmacy and Stores Limited is a company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. The company number is NI020057.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 November 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.  The going concern basis assumes that the company will continue in operational existence for the forseeable future, having adequate funds to meet its obligations as they fall due.  After making enquires the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the forseeable future.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Reducing Balance
  Fixtures, fittings and equipment - 15% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Dispensing 5 5
Head Office 4 4
Sales 9 9
  ───────── ─────────
  18 18
  ═════════ ═════════
     
4. Intangible assets
   
  Goodwill
  £
Cost
At 1 December 2023 740,000
  ─────────
 
At 30 November 2024 740,000
  ─────────
Amortisation
At 1 December 2023 591,000
Charge for financial year 75,000
  ─────────
At 30 November 2024 666,000
  ─────────
Net book value
At 30 November 2024 74,000
  ═════════
At 30 November 2023 149,000
  ═════════
           
5. Tangible assets
  Land and Investment Fixtures, Total
  buildings properties fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 December 2023 185,994 1,183,537 371,364 1,740,895
Additions - - 26,609 26,609
  ───────── ───────── ───────── ─────────
At 30 November 2024 185,994 1,183,537 397,973 1,767,504
  ───────── ───────── ───────── ─────────
Depreciation
At 1 December 2023 63,701 - 269,877 333,578
Charge for the financial year 2,446 - 17,015 19,461
  ───────── ───────── ───────── ─────────
At 30 November 2024 66,147 - 286,892 353,039
  ───────── ───────── ───────── ─────────
Net book value
At 30 November 2024 119,847 1,183,537 111,081 1,414,465
  ═════════ ═════════ ═════════ ═════════
At 30 November 2023 122,293 1,183,537 101,487 1,407,317
  ═════════ ═════════ ═════════ ═════════
       
6. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 30 November 2024 2 2
  ───────── ─────────
Net book value
At 30 November 2024 2 2
  ═════════ ═════════
At 30 November 2023 2 2
  ═════════ ═════════
             
6.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Collinward Wholesale Limited N. Ireland Dormant   Ordinary 100%
 
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.
       
7. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 118,776 117,600
  ═════════ ═════════
 
Stock is valued at the lower of cost and net realisable value.
       
8. Debtors 2024 2023
  £ £
 
Trade debtors 173,993 170,808
Taxation  (Note 11) 17,707 17,136
Prepayments and accrued income 7,679 7,848
  ───────── ─────────
  199,379 195,792
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 62,734 49,166
Trade creditors 283,212 245,922
Taxation  (Note 11) 97,373 81,339
Directors' current accounts 486,115 490,774
Other creditors 1,689 4,710
Accruals and deferred income 5,835 43,681
  ───────── ─────────
  936,958 915,592
  ═════════ ═════════
 
The bank loans and overdraft are secured by:

A debenture charging all of the assets and undertaking of the company, incorporating specific charges on property.

An assignment of the keyman policy on the life of a number of the directors for a minimum amount of £500,000.

A guarantee and indemnity from Gary Neeson, Siobhan Neeson and Conor McAreavey in the sum of £250,000.
       
10. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 826,087 997,989
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 62,734 49,166
Repayable between one and two years 142,055 111,332
Repayable between two and five years 167,444 131,230
Repayable in five years or more 516,588 755,427
  ───────── ─────────
  888,821 1,047,155
  ═════════ ═════════
 
       
11. Taxation 2024 2023
  £ £
 
Debtors:
VAT 17,707 17,136
  ═════════ ═════════
Creditors:
Corporation tax 91,676 76,572
PAYE / NI 5,697 4,767
  ───────── ─────────
  97,373 81,339
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 25,372 25,372 18,044
Charged to profit and loss 25,195 25,195 7,328
  ───────── ───────── ─────────
At financial year end 50,567 50,567 25,372
  ═════════ ═════════ ═════════
   
13. Pension costs - defined contribution
 
The company operates a defined contribution pension scheme for staff. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs amounted to £47,112 (2023: £30,160).
       
14. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2023.