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Company registration number: 02349767
Sheel Pharmacy Limited
Unaudited filleted financial statements
31 August 2024
Sheel Pharmacy Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Sheel Pharmacy Limited
Directors and other information

| Directors | Mrs G D Patel
|  | Ms R Patel
| Company number | 02349767
| Registered office | 312-314 Lewisham Road
|  | London
|  | SE13 7PA
| Accountants | Accounts Tax Solutions Limited
|  | 3rd Floor
|  | 207 Regent Street
|  | London
|  | W1B 3HH

Sheel Pharmacy Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sheel Pharmacy Limited
Year ended 31 August 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
3rd Floor
207 Regent Street
London
W1B 3HH
23 May 2025
Sheel Pharmacy Limited
Statement of financial position
31 August 2024

|  |  | 2024 |  |  |  | 2023 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 5 | 60,024 |  |  |  | 94,964 |  |
Tangible assets |  | 6 | 39,654 |  |  |  | 27,011 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 99,678 |  |  |  | 121,975
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 127,695 |  |  |  | 135,229 |  |
Debtors |  | 7 | 126,740 |  |  |  | 131,300 |  |
Cash at bank and in hand |  |  | 613,651 |  |  |  | 469,764 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 868,086 |  |  |  | 736,293 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 8 | ( 305,459) |  |  |  | ( 350,028) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 562,627 |  |  |  | 386,265
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 662,305 |  |  |  | 508,240
Provisions for liabilities |  |  |  |  | ( 5,298) |  |  |  | ( 4,918)
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 657,007 |  |  |  | 503,322
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 10,000 |  |  |  | 10,000
Profit and loss account |  |  |  |  | 647,007 |  |  |  | 493,322
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 657,007 |  |  |  | 503,322
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
Mrs G D Patel
Director
Company registration number: 02349767
Sheel Pharmacy Limited
Statement of changes in equity
Year ended 31 August 2024

|  | Called up share capital |  | Profit and loss account | Total |  |  |  |  |
|  | £ |  | £ | £ |  |  |  |  |
At 1 September 2023 |  | 10,000 |  | 353,677 | 363,677 |  |  |  |  |
Profit for the year |  |  |  | 175,645 | 175,645 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 175,645 | 175,645 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 36,000) | ( 36,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 36,000) | ( 36,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 August 2023 and 1 September 2023 |  | 10,000 |  | 493,322 | 503,322 |  |  |  |  |
Profit for the year |  |  |  | 153,685 | 153,685 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 153,685 | 153,685 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 August 2024 |  | 10,000 |  | 647,007 | 657,007 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |

Sheel Pharmacy Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 312-314 Lewisham Road, London, SE13 7PA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 20 % | reducing balance
| Motor vehicles | - | 25 % | reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).
5. Intangible assets

|  | Goodwill | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 September 2023 and 31 August 2024 | 660,780 | 660,780 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 September 2023 | 565,816 | 565,816 |  |  |  |
| Charge for the year | 34,940 | 34,940 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 August 2024 | 600,756 | 600,756 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 August 2024 | 60,024 | 60,024 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 August 2023 | 94,964 | 94,964 |  |  |  |
|  | _______ | _______ |  |  |  |

6. Tangible assets

|  | Long leasehold property | Plant and machinery | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 September 2023 | - | 270,623 | 270,623 |  |  |  |
| Additions | 17,539 | 633 | 18,172 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 August 2024 | 17,539 | 271,256 | 288,795 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 September 2023 | - | 243,612 | 243,612 |  |  |  |
| Charge for the year | - | 5,529 | 5,529 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 August 2024 | - | 249,141 | 249,141 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 August 2024 | 17,539 | 22,115 | 39,654 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 August 2023 | - | 27,011 | 27,011 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

7. Debtors

|  |  | 2024 | 2023
|  |  | £ | £
| Trade debtors |  | 1,260 | 18,701
| Other debtors |  | 125,480 | 112,599
|  |  | _______ | _______
|  |  | 126,740 | 131,300
|  |  | _______ | _______

8. Creditors: amounts falling due within one year

|  |  | 2024 | 2023
|  |  | £ | £
| Trade creditors |  | 156,330 | 168,331
| Corporation tax |  | 118,259 | 113,371
| Social security and other taxes |  | 6,307 | 3,885
| Other creditors |  | 24,563 | 64,441
|  |  | _______ | _______
|  |  | 305,459 | 350,028
|  |  | _______ | _______

9. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mrs G D Patel | 180 | 2,820 | 3,000 |  |  |
|  | _______ | _______ | _______ |  |  |
2023 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mrs G D Patel | - | 180 | 180 |  |  |
|  | _______ | _______ | _______ |  |  |