Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-292023-06-01Pharmacyfalsefalse68falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06765827 2023-06-01 2024-05-31 06765827 2022-06-01 2023-05-31 06765827 2024-05-31 06765827 2023-05-31 06765827 2022-06-01 06765827 c:Director2 2023-06-01 2024-05-31 06765827 d:Buildings 2023-06-01 2024-05-31 06765827 d:Buildings 2024-05-31 06765827 d:Buildings 2023-05-31 06765827 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06765827 d:LandBuildings 2024-05-31 06765827 d:LandBuildings 2023-05-31 06765827 d:FurnitureFittings 2023-06-01 2024-05-31 06765827 d:FurnitureFittings 2024-05-31 06765827 d:FurnitureFittings 2023-05-31 06765827 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06765827 d:ComputerEquipment 2023-06-01 2024-05-31 06765827 d:ComputerEquipment 2024-05-31 06765827 d:ComputerEquipment 2023-05-31 06765827 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06765827 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06765827 d:Goodwill 2023-06-01 2024-05-31 06765827 d:Goodwill 2024-05-31 06765827 d:Goodwill 2023-05-31 06765827 d:CurrentFinancialInstruments 2024-05-31 06765827 d:CurrentFinancialInstruments 2023-05-31 06765827 d:Non-currentFinancialInstruments 2024-05-31 06765827 d:Non-currentFinancialInstruments 2023-05-31 06765827 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 06765827 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06765827 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 06765827 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 06765827 d:ShareCapital 2023-06-01 2024-05-31 06765827 d:ShareCapital 2024-05-31 06765827 d:ShareCapital 2022-06-01 2023-05-31 06765827 d:ShareCapital 2023-05-31 06765827 d:ShareCapital 2022-06-01 06765827 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 06765827 d:RetainedEarningsAccumulatedLosses 2024-05-31 06765827 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 06765827 d:RetainedEarningsAccumulatedLosses 2023-05-31 06765827 d:RetainedEarningsAccumulatedLosses 2022-06-01 06765827 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 06765827 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 06765827 c:FRS102 2023-06-01 2024-05-31 06765827 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06765827 c:FullAccounts 2023-06-01 2024-05-31 06765827 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06765827 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 06765827 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 06765827










CANONS PHARMACY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
CANONS PHARMACY LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CANONS PHARMACY LTD
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Canons Pharmacy Ltd for the year ended 31 May 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Canons Pharmacy Ltd, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Canons Pharmacy Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Canons Pharmacy Ltd and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Canons Pharmacy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Canons Pharmacy Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Canons Pharmacy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







Shipleys Tax Planning
 

29 May 2025
Page 1

 
CANONS PHARMACY LTD
REGISTERED NUMBER: 06765827

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
82,196
98,635

Tangible assets
 5 
10,036
13,750

  
92,232
112,385

Current assets
  

Stocks
 6 
44,936
122,549

Debtors: amounts falling due within one year
 7 
177,956
109,066

Cash at bank and in hand
 8 
115,089
32,851

  
337,981
264,466

Creditors: amounts falling due within one year
 9 
(543,191)
(155,182)

Net current (liabilities)/assets
  
 
 
(205,210)
 
 
109,284

Total assets less current liabilities
  
(112,978)
221,669

Creditors: amounts falling due after more than one year
 10 
-
(291,286)

  

Net liabilities
  
(112,978)
(69,617)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(113,078)
(69,717)

  
(112,978)
(69,617)


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 May 2025.


Page 2

 
CANONS PHARMACY LTD
REGISTERED NUMBER: 06765827

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024



Mohammed Misba Uddin Ahmed Ali
Director

The notes on pages 6 to 13 form part of these financial statements.

Page 3

 
CANONS PHARMACY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2023
100
(69,717)
(69,617)


Comprehensive income for the year

Loss for the year

-
(43,361)
(43,361)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(43,361)
(43,361)


Total transactions with owners
-
-
-


At 31 May 2024
100
(113,078)
(112,978)


The notes on pages 6 to 13 form part of these financial statements.

Page 4

 
CANONS PHARMACY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2022
100
12,234
12,334


Comprehensive income for the year

Loss for the year

-
(81,951)
(81,951)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(81,951)
(81,951)


Total transactions with owners
-
-
-


At 31 May 2023
100
(69,717)
(69,617)


The notes on pages 6 to 13 form part of these financial statements.

Page 5

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Canons Pharmacy Ltd is a company domiciled in England & Wales, registration number 06765827.  The registered office is 768 Lea Bridge Road, London, E17 9DN.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 6

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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 balance sheet 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 balance sheet 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 balance sheet date.


Page 7

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other 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.

 
2.8

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, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Freehold property
-
5%
straight line
Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
20%
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.

 
2.9

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 balance sheet 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 8

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Admin
6
8

Page 9

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
328,781



At 31 May 2024

328,781



Amortisation


At 1 June 2023
230,146


Charge for the year on owned assets
16,439



At 31 May 2024

246,585



Net book value



At 31 May 2024
82,196



At 31 May 2023
98,635



Page 10

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
1,000
14,077
17,960
33,037



At 31 May 2024

1,000
14,077
17,960
33,037



Depreciation


At 1 June 2023
700
9,210
9,377
19,287


Charge for the year on owned assets
50
1,947
1,717
3,714



At 31 May 2024

750
11,157
11,094
23,001



Net book value



At 31 May 2024
250
2,920
6,866
10,036



At 31 May 2023
300
4,867
8,583
13,750




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
250
300

250
300



6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
44,936
122,549

44,936
122,549



7.


Debtors

2024
2023
£
£


Trade debtors
77,790
27,613

Other debtors
31,068
8,031
Page 11

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.Debtors (continued)


Prepayments and accrued income
-
4,324

Deferred taxation
69,098
69,098

177,956
109,066



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
115,089
32,851

115,089
32,851



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
5,833

Trade creditors
142,842
110,306

Other taxation and social security
-
2,094

Other creditors
364,016
24,938

Accruals and deferred income
36,333
12,011

543,191
155,182



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
-
291,286

-
291,286



11.


Deferred taxation

Page 12

 
CANONS PHARMACY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
11.Deferred taxation (continued)




2024


£






At beginning of year
69,098



At end of year
69,098

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
69,098
69,098

69,098
69,098


Page 13