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REGISTERED NUMBER: 01947122 (England and Wales)









SHEPHERDS SPRING PHARMACY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2024






SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHEPHERDS SPRING PHARMACY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JULY 2024







DIRECTOR: Mrs J K Sembhi





REGISTERED OFFICE: 121 Henley Road
Ilford
IG1 2TS





REGISTERED NUMBER: 01947122 (England and Wales)






SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

BALANCE SHEET
30 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,087 35,126

CURRENT ASSETS
Stocks 5 45,000 39,456
Debtors 6 490,159 510,933
Cash at bank and in hand 233,253 217,910
768,412 768,299
CREDITORS
Amounts falling due within one year 7 330,174 140,681
NET CURRENT ASSETS 438,238 627,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

443,325

662,744

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 443,323 662,742
SHAREHOLDERS' FUNDS 443,325 662,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps 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 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.

SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

BALANCE SHEET - continued
30 JULY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 April 2025 and were signed by:





Mrs J K Sembhi - Director


SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024

1. STATUTORY INFORMATION

Shepherds Spring Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at fair value of the consideration recieved or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:-

Sale of goods:

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer. The amount revenue can be measured reliably, it is probable that the economic benefit associated with the transaction.

NHS income:

NHS income is recognised in the period which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lives:

Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments @.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans from related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 31 July 2023 30,287 34,432 - 64,719
Additions - 266 5,679 5,945
At 30 July 2024 30,287 34,698 5,679 70,664
DEPRECIATION
At 31 July 2023 - 29,593 - 29,593
Charge for year 30,287 4,861 836 35,984
At 30 July 2024 30,287 34,454 836 65,577
NET BOOK VALUE
At 30 July 2024 - 244 4,843 5,087
At 30 July 2023 30,287 4,839 - 35,126

SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

5. STOCKS
2024 2023
£    £   
Stocks 45,000 39,456

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 158,776 141,213
Amounts owed by group undertakings - 334,000
Amounts owed by participating interests 290,407 -
Other debtors - 11,227
VAT 39,049 24,493
Prepayments 1,927 -
490,159 510,933

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 226,164 127,901
Amounts owed to participating interests 12,146 -
Corporation tax 47,667 -
Social security and other taxes 24,596 6,850
Other creditors 286 839
Accrued expenses 19,315 5,091
330,174 140,681

8. SECURED DEBTS

The company's bankers, Santander UK PLC, have taken a fixed and floating charge over the assets owned by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 2 2 2

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

SHEPHERDS SPRING PHARMACY LIMITED (REGISTERED NUMBER: 01947122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

10. RELATED PARTY DISCLOSURES - continued

Sach Chemist Ltd is a related company through common directorship and shareholdings. At 31 July 2024, the company owed £12,146 (2023: nil) to Sach Chemist Ltd.

GS Health Ltd is a related company through common directorship and shareholdings. At 31 July 2024, the company was owed £280,437 (2023: nil) by GS Health Ltd.

Acorns Pharmaceuticals Ltd is a related company through common directorship and shareholdings. At 31 July 2024, the company was owed £9,970 (2023: nil) by Acorns Pharmaceuticals Ltd.

All above related balances are interest free and are repayable upon demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Pharmex Holdings Limited, the ultimate parent company, a company registered in England and Wales.

12. CHANGE OF ACCOUNTING REFERENCE DATE

In the prior year the company extended its accounting reference date from 30 April to the 30 July. The comparative figures are therefore for a 15 month trading period.