Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312025-05-06false2023-09-01false99falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05774235 2023-09-01 2024-08-31 05774235 2022-09-01 2023-08-31 05774235 2024-08-31 05774235 2023-08-31 05774235 c:Director1 2023-09-01 2024-08-31 05774235 d:OfficeEquipment 2023-09-01 2024-08-31 05774235 d:OfficeEquipment 2024-08-31 05774235 d:OfficeEquipment 2023-08-31 05774235 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05774235 d:Goodwill 2023-09-01 2024-08-31 05774235 d:Goodwill 2024-08-31 05774235 d:Goodwill 2023-08-31 05774235 d:CurrentFinancialInstruments 2024-08-31 05774235 d:CurrentFinancialInstruments 2023-08-31 05774235 d:Non-currentFinancialInstruments 2024-08-31 05774235 d:Non-currentFinancialInstruments 2023-08-31 05774235 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 05774235 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05774235 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 05774235 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05774235 d:ShareCapital 2024-08-31 05774235 d:ShareCapital 2023-08-31 05774235 d:RetainedEarningsAccumulatedLosses 2024-08-31 05774235 d:RetainedEarningsAccumulatedLosses 2023-08-31 05774235 c:FRS102 2023-09-01 2024-08-31 05774235 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05774235 c:FullAccounts 2023-09-01 2024-08-31 05774235 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05774235 6 2023-09-01 2024-08-31 05774235 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 05774235










PHARMACARE CHEMISTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
PHARMACARE CHEMISTS LIMITED
REGISTERED NUMBER: 05774235

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14
19

  
14
19

Current assets
  

Stocks
  
35,058
34,686

Debtors: amounts falling due within one year
 6 
79,670
67,093

Cash at bank and in hand
  
355,235
340,112

  
469,963
441,891

Creditors: amounts falling due within one year
 7 
(74,040)
(71,373)

Net current assets
  
 
 
395,923
 
 
370,518

Total assets less current liabilities
  
395,937
370,537

Creditors: amounts falling due after more than one year
 8 
(235,966)
(151,539)

Provisions for liabilities
  

Deferred tax
  
(3)
(5)

  
 
 
(3)
 
 
(5)

Net assets
  
159,968
218,993


Capital and reserves
  

Called up share capital 
  
5
5

Profit And Loss Account
  
159,963
218,988

  
159,968
218,993


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 income statement in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
PHARMACARE CHEMISTS LIMITED
REGISTERED NUMBER: 05774235
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mr R Hoonjan
Director

Date: 6 May 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Pharmacare Chemists Limited is a private company, limited by share capital, incorporated in England and Wales under registration number: 05774235. The address of the registered office is Level 5A, Maple House, 149 Tottenham Court Road, London W1T 7NF.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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 Statement of financial position. 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 reporting 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 reporting 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 reporting date.


Page 4

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years



 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipments
-
25%
reducing balance

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.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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 reporting 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.

Page 5

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
272,662



At 31 August 2024

272,662



Amortisation


At 1 September 2023
272,662



At 31 August 2024

272,662



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 6

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Fixtures, fittings and equipments

£



Cost or valuation


At 1 September 2023
1,066



At 31 August 2024

1,066



Depreciation


At 1 September 2023
1,047


Charge for the year on owned assets
5



At 31 August 2024

1,052



Net book value



At 31 August 2024
14



At 31 August 2023
19

Page 7

 
PHARMACARE CHEMISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
64,298
52,501

VAT repayable
14,312
13,520

Corporation tax repayable
-
12

Prepayments and accrued income
1,060
1,060

79,670
67,093



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
57,304
66,773

Corporation tax
12,136
-

Accruals and deferred income
4,600
4,600

74,040
71,373



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Directors' loan account
101,831
76,754

Shareholders' loan account
134,135
74,785

235,966
151,539



9.


Controlling party

The company was under control of the directors Mr R Hoonjan (40% share) and Mrs H Hoonjan (20% share), by virtue of fact that between them they own 60% of the issued share capital of the company.

 
Page 8