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REGISTERED NUMBER: 10618140 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

O'Briens Pharmacies Limited

O'Briens Pharmacies Limited (Registered number: 10618140)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


O'Briens Pharmacies Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A A W O'Brien
G F O'Brien





REGISTERED OFFICE: 42 Kelso Avenue
Cleveleys
Lancashire
FY5 3JG





REGISTERED NUMBER: 10618140 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

O'Briens Pharmacies Limited (Registered number: 10618140)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,280 162,198

CURRENT ASSETS
Stocks 107,846 94,661
Debtors 2,277,704 1,965,674
Cash at bank 1,239 81,491
2,386,789 2,141,826
CREDITORS
Amounts falling due within one year 1,551,082 1,437,365
NET CURRENT ASSETS 835,707 704,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,987

866,659

CREDITORS
Amounts falling due after more than one
year

(63,339

)

(68,586

)

PROVISIONS FOR LIABILITIES (33,325 ) (39,467 )
NET ASSETS 873,323 758,606

CAPITAL AND RESERVES
Called up share capital 100,100 100
Retained earnings 773,223 758,506
SHAREHOLDERS' FUNDS 873,323 758,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 June 2025 and were signed on its behalf by:



A A W O'Brien - Director


O'Briens Pharmacies Limited (Registered number: 10618140)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

O'Briens Pharmacies 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

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
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

O'Briens Pharmacies Limited (Registered number: 10618140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 349,229
Additions 4,732
Disposals (3,185 )
At 30 June 2024 350,776
DEPRECIATION
At 1 July 2023 187,031
Charge for year 29,465
At 30 June 2024 216,496
NET BOOK VALUE
At 30 June 2024 134,280
At 30 June 2023 162,198

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2023
and 30 June 2024 117,721
DEPRECIATION
At 1 July 2023 62,485
Charge for year 10,015
At 30 June 2024 72,500
NET BOOK VALUE
At 30 June 2024 45,221
At 30 June 2023 55,236

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 14,719 28,304
Between one and five years - 5,247
14,719 33,551

Non-cancellable operating leases
2024 2023
£    £   
Within one year 46,916 46,916
Between one and five years 163,432 172,812
In more than five years 243,984 281,520
454,332 501,248

O'Briens Pharmacies Limited (Registered number: 10618140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 14,719 33,551

7. CONTINGENT LIABILITIES

The company has entered into a cross guarantee arrangement with its bankers with other group companies. The amount of indebtedness of other group companies at the balance sheet date was was £1,331,666 (2023: £1,388,333).

8. RELATED PARTY DISCLOSURES

At the balance sheet date interest free amounts owed to companies external to the group, related by virtue of common influence, were £366,728 (2023: £332,385). These loans were interest free and repayable on demand.
During the year a loan from the director of £100,000 was converted to 100,000 preference shares of £1 each..

9. PARENT COMPANY

G F O'Brien (NI) Limited, a company registered in Northern Ireland is regarded by the directors as being the company's parent company.

10. PREFERENCE SHARES

The company issued 100,000 non-cumulative, non-redeemable, non-convertible preference shares of £1 each during the year. The shares are classified as equity in accordance with FRS 102, as the company has no contractual obligation to repay the principal or dividends.