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REGISTERED NUMBER: SC188876 (Scotland)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

STEVEN F WEBSTER LIMITED

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


STEVEN F WEBSTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Ms S E Webster
S F Webster
S Webster
Mrs D Webster





SECRETARY: S Webster





REGISTERED OFFICE: 7 Queen Street
Peterhead
Aberdeenshire
AB42 1TN





REGISTERED NUMBER: SC188876 (Scotland)





AUDITORS: Leiper & Summers
Statutory Auditors
4 Charlotte Street
Fraserburgh
Aberdeenshire
AB43 9JE

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS
Steven F Webster Limited is the parent company for Steven Webster (Pharmacies) Limited. The Group owns and operates across several locations throughout the North East of Scotland.

The economic environment for the year to 30 June 2024 remained challenging for all businesses and despite these challenges the Directors and staff have worked to improve the performance of the business, with the best interests of the local community in mind.

The financial performance of the Group can be seen on the Group Income Statement on page 9 and Group Balance Sheet on page 10.

The directors remain confident that the group will maintain satisfactory levels of performance with a strong balance sheet being evident at the period end.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to competition from local pharmacies and regulation of the sector.

The company operates in regulated markets and could be adversely affected by changes to existing regulation, new regulation and or failure to comply with regulation. The company could be adversely affected by changes to licensing regimes for pharmacies and prescription processing regimes.The company is consistently reviewing its strategic options for the short to medium term in order to mitigate these risks.

The directors manage the cash and borrowing requirements of the business in house in order to maximise interest income and minimise interest expense, whilst ensuring there are sufficient liquid resources to meet the operating needs of the business.

DEVELOPMENT AND PERFORMANCE
The directors anticipate the business environment will remain competitive. They believe that the company is in a
good financial position and that the risks that have been identified are being well managed. With careful focus on
appropriate diversification and development of services, the directors are confident in the company's ability to maintain and build on this strategy and financial position.

KEY PERFORMANCE INDICATORS
Given the nature of the business, the company's directors are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the business with turnover, gross margin and profitability the measures used to monitor performance.

ON BEHALF OF THE BOARD:





S F Webster - Director


22 June 2025

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of dispensing chemist, sale of baby clothes and pharmaceutical goods.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 448,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Ms S E Webster
S F Webster
S Webster
Mrs D Webster

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


AUDITORS
Leiper & Summers were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they are re-appointed will be put at a General Meeting.

ON BEHALF OF THE BOARD:





S F Webster - Director


22 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STEVEN F WEBSTER LIMITED

Opinion
We have audited the financial statements of Steven F Webster Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STEVEN F WEBSTER LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STEVEN F WEBSTER LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risk of material misstatement due to non-compliance with laws and regulation we have:

- Ensure that the engagement team had the appropriate competence, capabilities and skills to identify or recognise
non-compliance with laws and regulations;
- Identified laws and regulations applicable to the entity through discussions with directors and management and through our own knowledge of the sector;
- Focused on the specific laws and regulations we consider may have direct effect on the financial statements, including FRS 102, the Companies Act 2006 and tax compliance regulations;
- Made enquiries of management and inspected legal correspondence; and
- Ensured the engagement team remained alert to instances of non-compliance throughout the audit.

In identifying and assessing the risk of material misstatement due to irregularities, including fraud and how it may occur, and the potential for management bias and the override of controls we have:

- Obtained an understanding of the entity's operations, including the nature of its revenue sources and of its objectives and strategies, to understand the classes of transactions, account balances, expected financial disclosures and business risks that may result in risk of material misstatement;
- Obtained an understanding of the internal controls in place to mitigate risks of irregularities, including fraud;
- Vouched balances and reconciling items in key control account reconciliations to supporting documentation;
- Carried out detailed testing, on a sample basis, to verify the completeness, existence and accuracy of transactions and balances;
- Made enquiries of management as to where they consider there was susceptibility to fraud, and their knowledge of any actual, suspected or alleged fraud;
- Test journal entries to identify any unusual transactions;
- Investigated the business rationale behind any significant or unusual transactions; and
- Evaluated the appropriateness of accounting policies and the reasonableness of accounting estimates.

We did not identify any matters relating to non-compliance with laws and regulations, or relating to fraud.

Because of the inherent limitation of an audit, there is an unavoidable risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk of not detecting a material misstatement due to fraud is inherently more difficult than detecting those that result from error as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STEVEN F WEBSTER LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Susan Hepburn (Senior Statutory Auditor)
for and on behalf of Leiper & Summers
Statutory Auditors
4 Charlotte Street
Fraserburgh
Aberdeenshire
AB43 9JE

22 June 2025

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 3 8,670,459 8,849,611

Cost of sales 5,443,166 5,659,934
GROSS PROFIT 3,227,293 3,189,677

Administrative expenses 2,758,402 2,534,797
468,891 654,880

Other operating income 104,131 103,630
OPERATING PROFIT 5 573,022 758,510

Interest receivable and similar income 7,588 4,288
580,610 762,798

Interest payable and similar expenses 6 109,463 113,136
PROFIT BEFORE TAXATION 471,147 649,662

Tax on profit 7 286,086 280,492
PROFIT FOR THE FINANCIAL YEAR 185,061 369,170

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

185,061

369,170

Profit attributable to:
Owners of the parent 185,061 369,170

Total comprehensive income attributable to:
Owners of the parent 185,061 369,170

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 5,123,909 5,770,108
Tangible assets 11 681,692 590,682
Investments 12 27,998 27,998
Investment property 13 156,100 156,100
5,989,699 6,544,888

CURRENT ASSETS
Stocks 14 373,006 360,898
Debtors 15 890,967 901,310
Cash at bank 1,523,665 1,814,278
2,787,638 3,076,486
CREDITORS
Amounts falling due within one year 16 1,222,013 1,288,210
NET CURRENT ASSETS 1,565,625 1,788,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,555,324

8,333,164

CREDITORS
Amounts falling due after more than one
year

17

(2,100,409

)

(2,643,317

)

PROVISIONS FOR LIABILITIES 21 (46,840 ) (18,833 )
NET ASSETS 5,408,075 5,671,014

CAPITAL AND RESERVES
Called up share capital 22 80,000 80,000
Share premium 23 9,999 9,999
Capital redemption reserve 23 20,000 20,000
Other reserves 23 3,529,452 3,529,452
Retained earnings 23 1,768,624 2,031,563
SHAREHOLDERS' FUNDS 5,408,075 5,671,014

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2025 and were signed on its behalf by:





S F Webster - Director


STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 631,162 531,404
Investments 12 6,457,933 6,457,933
Investment property 13 156,100 156,100
7,245,195 7,145,437

CURRENT ASSETS
Stocks 14 253,697 247,418
Debtors 15 528,826 515,004
Cash at bank 1,238,646 1,299,717
2,021,169 2,062,139
CREDITORS
Amounts falling due within one year 16 4,340,418 3,738,051
NET CURRENT LIABILITIES (2,319,249 ) (1,675,912 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,925,946

5,469,525

CREDITORS
Amounts falling due after more than one
year

17

(2,100,409

)

(2,643,317

)

PROVISIONS FOR LIABILITIES 21 (46,840 ) (18,833 )
NET ASSETS 2,778,697 2,807,375

CAPITAL AND RESERVES
Called up share capital 22 80,000 80,000
Capital redemption reserve 23 20,000 20,000
Retained earnings 23 2,678,697 2,707,375
SHAREHOLDERS' FUNDS 2,778,697 2,807,375

Company's profit for the financial year 419,322 555,819

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2025 and were signed on its behalf by:





S F Webster - Director


STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 July 2022 80,000 2,050,393 9,999

Changes in equity
Dividends - (388,000 ) -
Total comprehensive income - 369,170 -
Balance at 30 June 2023 80,000 2,031,563 9,999

Changes in equity
Dividends - (448,000 ) -
Total comprehensive income - 185,061 -
Balance at 30 June 2024 80,000 1,768,624 9,999
Capital
redemption Other Total
reserve reserves equity
£    £    £   
Balance at 1 July 2022 20,000 3,529,452 5,689,844

Changes in equity
Dividends - - (388,000 )
Total comprehensive income - - 369,170
Balance at 30 June 2023 20,000 3,529,452 5,671,014

Changes in equity
Dividends - - (448,000 )
Total comprehensive income - - 185,061
Balance at 30 June 2024 20,000 3,529,452 5,408,075

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 80,000 2,539,556 20,000 2,639,556

Changes in equity
Dividends - (388,000 ) - (388,000 )
Total comprehensive income - 555,819 - 555,819
Balance at 30 June 2023 80,000 2,707,375 20,000 2,807,375

Changes in equity
Dividends - (448,000 ) - (448,000 )
Total comprehensive income - 419,322 - 419,322
Balance at 30 June 2024 80,000 2,678,697 20,000 2,778,697

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,243,183 1,326,805
Interest paid (108,490 ) (113,136 )
Interest element of hire purchase payments
paid

(973

)

-
Tax paid (272,857 ) (207,749 )
Net cash from operating activities 860,863 1,005,920

Cash flows from investing activities
Purchase of tangible fixed assets (153,079 ) (19,495 )
Interest received 7,588 4,288
Net cash from investing activities (145,491 ) (15,207 )

Cash flows from financing activities
New loans in year 72,900 -
Loan repayments in year (602,236 ) (199,002 )
Capital repayments in year (1,549 ) -
Amount introduced by directors - 85,121
Amount withdrawn by directors (27,100 ) -
Equity dividends paid (448,000 ) (388,000 )
Net cash from financing activities (1,005,985 ) (501,881 )

(Decrease)/increase in cash and cash equivalents (290,613 ) 488,832
Cash and cash equivalents at beginning of
year

2

1,814,278

1,325,446

Cash and cash equivalents at end of year 2 1,523,665 1,814,278

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 471,147 649,662
Depreciation charges 708,268 703,955
Finance costs 109,463 113,136
Finance income (7,588 ) (4,288 )
1,281,290 1,462,465
Increase in stocks (12,108 ) (36,096 )
Decrease/(increase) in trade and other debtors 10,469 (28,028 )
Decrease in trade and other creditors (36,468 ) (71,536 )
Cash generated from operations 1,243,183 1,326,805

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 1,523,665 1,814,278
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,814,278 1,325,446


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank 1,814,278 (290,613 ) 1,523,665
1,814,278 (290,613 ) 1,523,665
Debt
Finance leases - (71,351 ) (71,351 )
Debts falling due within 1 year (102,236 ) (2,732 ) (104,968 )
Debts falling due after 1 year (2,643,317 ) 604,968 (2,038,349 )
(2,745,553 ) 530,885 (2,214,668 )
Total (931,275 ) 240,272 (691,003 )

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Steven F Webster Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company is a qualifying entity for the purposes of FRS 102, being the parent of a group that prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosures requirements for parent company information presented within the consolidated financial statements:

- Section 4 ' Statement of Financial Position' - Reconciliation of the opening and closing number of shares;
- Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;
- Section 11 'Basic Financial instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loans defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income.

Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liabilities is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated group financial statements consist of the financial statements of the parent company Steven F Webster Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation the company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus, the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful lives and deprecation of fixed assets
Depreciation rates are based on the estimated useful lives of assets, which is judgement exercised by management taking into account actual experience.

Goodwill
The company establishes a reliable estimate of the useful life of goodwill arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses. See note 9 for the carrying amount of the goodwill and note 2 for its useful economic life.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

The group establishes a reliable estimate of the useful life of goodwill arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected usual life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.








STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Equity instruments are measured at fair value through profit or loss, except for those equity instruments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associates.

Losses in excess of the carrying amount of an investment in associates are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Provisions
Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 8,670,459 8,849,611
8,670,459 8,849,611

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,374,240 1,239,335
Social security costs 109,254 97,495
Other pension costs 122,717 151,800
1,606,211 1,488,630

The average number of employees during the year was as follows:
2024 2023

Steven F Webster Limited 54 51
Steven Webster (Pharmacies) Limited 30 29
84 80

The average number of employees by undertakings that were proportionately consolidated during the year was 84 (2023 - 80 ) .

2024 2023
£    £   
Directors' remuneration 74,698 56,736
Directors' pension contributions to money purchase schemes 91,095 123,704

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 5,145 5,278
Other operating leases 18,563 18,123
Depreciation - owned assets 58,198 57,756
Depreciation - assets on hire purchase contracts 3,871 -
Goodwill amortisation 646,199 646,199

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 108,490 113,136
Hire purchase 973 -
109,463 113,136

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 258,131 272,859
Prior year tax adjustment (52 ) -
Total current tax 258,079 272,859

Deferred tax 28,007 7,633
Tax on profit 286,086 280,492

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 471,147 649,662
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20.496 %)

117,787

133,155

Effects of:
Expenses not deductible for tax purposes 2,534 405
Depreciation in excess of capital allowances 11,855 36,037
Adjustments to tax charge in respect of previous periods (52 ) -
Deferred tax 28,007 7,633
Amortisation on assets not qualifying for capital allowances 125,955 103,262

taxable in determining taxable
Total tax charge 286,086 280,492

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Interim 448,000 388,000

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 9,985,753
AMORTISATION
At 1 July 2023 4,215,645
Amortisation for year 646,199
At 30 June 2024 4,861,844
NET BOOK VALUE
At 30 June 2024 5,123,909
At 30 June 2023 5,770,108

Company
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 2,099,994
AMORTISATION
At 1 July 2023
and 30 June 2024 2,099,994
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023 655,351 91,116 5,290
Additions - - -
At 30 June 2024 655,351 91,116 5,290
DEPRECIATION
At 1 July 2023 199,566 35,049 5,290
Charge for year 12,217 9,112 -
At 30 June 2024 211,783 44,161 5,290
NET BOOK VALUE
At 30 June 2024 443,568 46,955 -
At 30 June 2023 455,785 56,067 -

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 182,631 163,865 1,098,253
Additions 42,679 110,400 153,079
At 30 June 2024 225,310 274,265 1,251,332
DEPRECIATION
At 1 July 2023 175,882 91,784 507,571
Charge for year 7,265 33,475 62,069
At 30 June 2024 183,147 125,259 569,640
NET BOOK VALUE
At 30 June 2024 42,163 149,006 681,692
At 30 June 2023 6,749 72,081 590,682

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 92,900
At 30 June 2024 92,900
DEPRECIATION
Charge for year 3,871
At 30 June 2024 3,871
NET BOOK VALUE
At 30 June 2024 89,029

Company
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 655,351 176,075 158,870 990,296
Additions - 40,373 110,400 150,773
At 30 June 2024 655,351 216,448 269,270 1,141,069
DEPRECIATION
At 1 July 2023 199,566 171,704 87,622 458,892
Charge for year 12,217 6,156 32,642 51,015
At 30 June 2024 211,783 177,860 120,264 509,907
NET BOOK VALUE
At 30 June 2024 443,568 38,588 149,006 631,162
At 30 June 2023 455,785 4,371 71,248 531,404

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 92,900
At 30 June 2024 92,900
DEPRECIATION
Charge for year 3,871
At 30 June 2024 3,871
NET BOOK VALUE
At 30 June 2024 89,029

12. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 27,998
NET BOOK VALUE
At 30 June 2024 27,998
At 30 June 2023 27,998
Company
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 6,429,935 27,998 6,457,933
NET BOOK VALUE
At 30 June 2024 6,429,935 27,998 6,457,933
At 30 June 2023 6,429,935 27,998 6,457,933

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. FIXED ASSET INVESTMENTS - continued

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

Subsidiary

Steven Webster (Pharmacies) Limited
Registered office: Scotland
Nature of business: Dispensing chemist and pharmaceutical goods
%
Class of shares: holding
Ordinary 100.00


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 156,100
NET BOOK VALUE
At 30 June 2024 156,100
At 30 June 2023 156,100

Company
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 156,100
NET BOOK VALUE
At 30 June 2024 156,100
At 30 June 2023 156,100

14. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Finished goods 373,006 360,898 253,697 247,418

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 689,823 677,122 401,673 392,527
Other debtors 10,728 3,177 10,728 3,177
Tax 2,650 2,524 2,650 2,504
VAT 164,418 196,197 94,039 97,891
Prepayments and accrued income 23,348 22,290 19,736 18,905
890,967 901,310 528,826 515,004

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 18) 104,968 102,236 104,968 102,236
Hire purchase contracts (see note 19) 9,291 - 9,291 -
Trade creditors 782,527 814,469 376,349 387,350
Amounts owed to group undertakings - - 3,695,009 3,020,088
Tax 258,130 272,782 117,881 152,724
Social security and other taxes 9,839 145 - 145
Other creditors 7,671 7,153 2,533 5,283
Directors' current accounts 2,645 29,745 2,645 29,745
Accrued expenses 46,942 61,680 31,742 40,480
1,222,013 1,288,210 4,340,418 3,738,051

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 18) 2,038,349 2,643,317 2,038,349 2,643,317
Hire purchase contracts (see note 19) 62,060 - 62,060 -
2,100,409 2,643,317 2,100,409 2,643,317

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank Loan 104,968 102,236 104,968 102,236
Amounts falling due between two and five years:
Bank Loan 2,038,349 2,643,317 2,038,349 2,643,317

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,291 -
Between one and five years 62,060 -
71,351 -

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,291 -
Between one and five years 62,060 -
71,351 -

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 2,143,317 - 2,143,317 2,745,553
Hire purchase contracts 71,351 - 71,351 -
2,214,668 - 2,214,668 2,745,553

The bank holds a cross guarantee security and is secured by a bond and floating charge over the group company assets.

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 46,840 18,833 46,840 18,833

Group
Deferred
tax
£   
Balance at 1 July 2023 18,833
Provided during year 28,007
Balance at 30 June 2024 46,840

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

21. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 July 2023 18,833
Provided during year 28,007
Balance at 30 June 2024 46,840

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80,000 Ordinary £1 80,000 80,000

23. RESERVES

Group
Capital
Retained Share redemption Other
earnings premium reserve reserves Totals
£    £    £    £    £   

At 1 July 2023 2,031,563 9,999 20,000 3,529,452 5,591,014
Profit for the year 185,061 185,061
Dividends (448,000 ) (448,000 )
At 30 June 2024 1,768,624 9,999 20,000 3,529,452 5,328,075

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2023 2,707,375 20,000 2,727,375
Profit for the year 419,322 419,322
Dividends (448,000 ) (448,000 )
At 30 June 2024 2,678,697 20,000 2,698,697

Other reserves
The merger reserve is recognised as the difference in fair value and deemed consideration of assets transferred into the company in a prior year as part of a group reconstruction.

24. RELATED PARTY DISCLOSURES

During the year, total dividends of £448,000 (2023 - £388,000) were paid to the directors .

STEVEN F WEBSTER LIMITED (REGISTERED NUMBER: SC188876)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

24. RELATED PARTY DISCLOSURES - continued

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Amount due to related party 2,645 29,745

Other related parties
2024 2023
£    £   
Sales 84,500 84,500

25. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

26. COMPANY INFORMATION

The group consists of Steven F Webster Limited and all of its subsidiaries.