Company Registration No. SC740251 (Scotland)
Oushk Pharmacy Ltd
Unaudited accounts
for the period from 1 September 2024 to 31 March 2025
Oushk Pharmacy Ltd
Unaudited accounts
Contents
Oushk Pharmacy Ltd
Company Information
for the period from 1 September 2024 to 31 March 2025
Directors
Bilal Hussain
Hira Malik
Company Number
SC740251 (Scotland)
Registered Office
58 Long Lane
Broughty Ferry
Dundee
DD5 1HH
Scotland
Accountants
Shipleys Tax - Chartered Accountants
32 Park Cross Street
Leeds
West Yorkshire
LS1 2QH
Oushk Pharmacy Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
6,178
4,518
Cash at bank and in hand
415,459
17,831
Creditors: amounts falling due within one year
(915,529)
(125,662)
Net current assets
844,208
120,407
Net assets
850,386
124,925
Called up share capital
2
2
Profit and loss account
850,384
124,923
Shareholders' funds
850,386
124,925
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by
Bilal Hussain
Director
Company Registration No. SC740251
Oushk Pharmacy Ltd
Notes to the Accounts
for the period from 1 September 2024 to 31 March 2025
Oushk Pharmacy Ltd is a private company, limited by shares, registered in Scotland, registration number SC740251. The registered office is 58 Long Lane, Broughty Ferry, Dundee, DD5 1HH, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 Years
Computer equipment
3 Years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Oushk Pharmacy Ltd
Notes to the Accounts
for the period from 1 September 2024 to 31 March 2025
The accounts have been prepared on the going concern basis due to the continued support of the director, and principle creditor, Mr B Hussain.
Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2024
843
166
3,995
5,004
Additions
441
-
2,559
3,000
At 31 March 2025
1,284
166
6,554
8,004
At 1 September 2024
27
1
458
486
Charge for the period
147
19
1,174
1,340
At 31 March 2025
174
20
1,632
1,826
At 31 March 2025
1,110
146
4,922
6,178
At 31 August 2024
816
165
3,537
4,518
Amounts falling due within one year
Trade debtors
502,628
97,856
Amounts due from group undertakings etc.
456,358
-
Accrued income and prepayments
6,338
-
Other debtors
12,166
14,580
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
133,999
11,297
Amounts owed to group undertakings and other participating interests
-
2,777
Taxes and social security
287,435
40,572
Oushk Pharmacy Ltd
Notes to the Accounts
for the period from 1 September 2024 to 31 March 2025
7
Transactions with related parties
During the financial year ended 31 March 2025, the company incurred royalty payments to its parent company, Oushk Ltd, for the right to use the trademarked name "Oushk".
The total amount of royalty payments made during the year was £423,022 (2024:£71,016), recorded within cost of sales in the profit and loss account.
These transactions were conducted at arm’s length and on normal commercial terms. The outstanding balance payable to the parent company as at of 31 March 2025 is included within liabilities.
As at the balance sheet date, the ultimate controlling party of Oushk Pharmacy Ltd is Oushk Ltd, a company incorporated in England & Wales. Oushk Ltd holds 100% of the issued share capital of Oushk Pharmacy Ltd, giving it the ability to exercise control over the company.
9
Average number of employees
During the period the average number of employees was 3 (2024: 1).