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Registered number: 3186584
OAKWOOD PHARMACY LIMITED
Financial Statements
For The Year Ended 30 September 2024
Barnett Young & Partners
15 The Broadway
Woodford Green
IG8 0HL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3186584
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,175 1,566
1,175 1,566
CURRENT ASSETS
Stocks 5 64,216 46,625
Debtors 6 162,611 120,657
Cash at bank and in hand 597,825 504,823
824,652 672,105
Creditors: Amounts Falling Due Within One Year 7 (204,346 ) (181,324 )
NET CURRENT ASSETS (LIABILITIES) 620,306 490,781
TOTAL ASSETS LESS CURRENT LIABILITIES 621,481 492,347
NET ASSETS 621,481 492,347
CAPITAL AND RESERVES
Called up share capital 8 6 6
Profit and Loss Account 621,475 492,341
SHAREHOLDERS' FUNDS 621,481 492,347
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P H Mellis
Director
26/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
OAKWOOD PHARMACY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 3186584 . The registered office is 118 Roding Road, Loughton, Essex, IG10 3EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance method
Fixtures & Fittings 25% reducing balance method
Computer Equipment 25% reducing balance method
2.4. Stocks and Work in Progress
Stocks is professionally valued at the lower of cost and net realisable value.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 13)
16 13
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 10,408 12,690 16,450 39,548
As at 30 September 2024 10,408 12,690 16,450 39,548
Depreciation
As at 1 October 2023 10,363 12,675 14,944 37,982
Provided during the period 11 4 376 391
As at 30 September 2024 10,374 12,679 15,320 38,373
Net Book Value
As at 30 September 2024 34 11 1,130 1,175
As at 1 October 2023 45 15 1,506 1,566
5. Stocks
2024 2023
£ £
Materials 64,216 46,625
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 144,939 104,871
Other debtors 17,672 15,786
162,611 120,657
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 140,309 146,491
Corporation tax 50,782 22,526
Other creditors 1,586 1,552
Accruals and deferred income 11,669 10,755
204,346 181,324
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 25,553 19,791
11. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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