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REGISTERED NUMBER: 02156591 (England and Wales)













Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Park Avenue Pharmacy Limited

Park Avenue Pharmacy Limited (Registered number: 02156591)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Park Avenue Pharmacy Limited

Company Information
for the Year Ended 28 February 2025







DIRECTORS: Mrs L Cooper
J Cooper
J V Evans





SECRETARY: J Cooper





REGISTERED OFFICE: 10 Park Avenue
Redcar
Cleveland
TS10 3JZ





REGISTERED NUMBER: 02156591 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Park Avenue Pharmacy Limited (Registered number: 02156591)

Balance Sheet
28 February 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,844 563
Investments 5 4,031 4,031
9,875 4,594

CURRENT ASSETS
Stocks 47,596 62,944
Debtors 6 163,703 165,050
Cash at bank and in hand 40,165 110,603
251,464 338,597
CREDITORS
Amounts falling due within one year 7 129,453 201,479
NET CURRENT ASSETS 122,011 137,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,886

141,712

PROVISIONS FOR LIABILITIES - 141
NET ASSETS 131,886 141,571

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 131,884 141,569
131,886 141,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





J Cooper - Director


Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Park Avenue Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor Vehicles - 25% on cost
Computer Equipment - 25% on cost

Investments in subsidiaries
Investments in associates are measured at cost less impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease,

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2024 46,434 10,660 8,006 65,100
Additions - - 5,470 5,470
Disposals - (10,660 ) - (10,660 )
At 28 February 2025 46,434 - 13,476 59,910
DEPRECIATION
At 1 March 2024 45,871 10,660 8,006 64,537
Charge for year 144 - 45 189
Eliminated on disposal - (10,660 ) - (10,660 )
At 28 February 2025 46,015 - 8,051 54,066
NET BOOK VALUE
At 28 February 2025 419 - 5,425 5,844
At 29 February 2024 563 - - 563

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2024
and 28 February 2025 4,031
NET BOOK VALUE
At 28 February 2025 4,031
At 29 February 2024 4,031

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Clevechem Limited
Registered office: Redcar Primary Hospital, West Dyke Road, Redcar, TS10 4NW
Nature of business: Pharmacy
%
Class of shares: holding
Ordinary 10.55

Park Avenue Pharmacy Limited (Registered number: 02156591)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 88,928 107,138
Amounts owed by group undertakings 57,661 45,739
Other debtors 17,114 12,173
163,703 165,050

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 111,706 155,355
Amounts owed to group undertakings 13,307 40,612
Taxation and social security 4,440 5,512
129,453 201,479

8. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the statement of financial position is £50,958 (2024 - 3,167).

9. ULTIMATE CONTROLLING PARTY

The company's parent company is Coopers Chemist Marske Limited, who's registered office is 112 High Street, Marske By The Sea, Redcar, Cleveland TS11 7BA.