T.A Burley Pharmacy Limited 05573424 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of a retail pharmacy. Digita Accounts Production Advanced 6.30.9574.0 true true 05573424 2023-10-01 2024-09-30 05573424 2024-09-30 05573424 core:AcceleratedTaxDepreciationDeferredTax 2024-09-30 05573424 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 05573424 core:CurrentFinancialInstruments 2024-09-30 05573424 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05573424 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 05573424 core:FurnitureFittingsToolsEquipment 2024-09-30 05573424 core:LandBuildings 2024-09-30 05573424 core:OtherPropertyPlantEquipment 2024-09-30 05573424 bus:SmallEntities 2023-10-01 2024-09-30 05573424 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05573424 bus:FilletedAccounts 2023-10-01 2024-09-30 05573424 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05573424 bus:RegisteredOffice 2023-10-01 2024-09-30 05573424 bus:Director1 2023-10-01 2024-09-30 05573424 bus:Director2 2023-10-01 2024-09-30 05573424 bus:Director3 2023-10-01 2024-09-30 05573424 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05573424 core:FurnitureFittings 2023-10-01 2024-09-30 05573424 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 05573424 core:LandBuildings 2023-10-01 2024-09-30 05573424 core:OfficeEquipment 2023-10-01 2024-09-30 05573424 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 05573424 core:PlantMachinery 2023-10-01 2024-09-30 05573424 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 05573424 core:OtherRelatedParties 2023-10-01 2024-09-30 05573424 core:ParentEntities 2023-10-01 2024-09-30 05573424 countries:EnglandWales 2023-10-01 2024-09-30 05573424 2023-09-30 05573424 core:FurnitureFittingsToolsEquipment 2023-09-30 05573424 core:LandBuildings 2023-09-30 05573424 core:OtherPropertyPlantEquipment 2023-09-30 05573424 2022-10-01 2023-09-30 05573424 2023-09-30 05573424 core:AcceleratedTaxDepreciationDeferredTax 2023-09-30 05573424 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 05573424 core:CurrentFinancialInstruments 2023-09-30 05573424 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05573424 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 05573424 core:FurnitureFittingsToolsEquipment 2023-09-30 05573424 core:LandBuildings 2023-09-30 05573424 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 05573424

Prepared for the registrar

T.A Burley Pharmacy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

T.A Burley Pharmacy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

T.A Burley Pharmacy Limited

Company Information

Directors

YJ Chow

R Guo

TJ Masamha

Registered office

115 Louth Road
Holton-Le-Clay
Grimsby
Lincolnshire
DN36 5AD

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

T.A Burley Pharmacy Limited

(Registration number: 05573424)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

97,911

119,533

Current assets

 

Stocks

71,252

55,337

Debtors

5

1,007,164

818,722

Cash at bank and in hand

 

179,178

152,627

 

1,257,594

1,026,686

Creditors: Amounts falling due within one year

6

(435,508)

(390,598)

Net current assets

 

822,086

636,088

Total assets less current liabilities

 

919,997

755,621

Creditors: Amounts falling due after more than one year

6

(41,485)

(67,389)

Deferred tax liabilities

7

(20,982)

(26,387)

Net assets

 

857,530

661,845

Capital and reserves

 

Called up share capital

100

100

Retained earnings

857,430

661,745

Shareholders' funds

 

857,530

661,845

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 June 2025 and signed on its behalf by:
 


TJ Masamha
Director

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
115 Louth Road
Holton-Le-Clay
Grimsby
Lincolnshire
DN36 5AD
England

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% straight lline basis

Plant and machinery

20% reducing balance basis

Fixtures and fittings

20% reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company during the year, was 9 (2023 - 9).

 

4

Tangible assets

Leasehold Improvements
£

Furniture, fittings and equipment
 £

Plant and machinery
 £

Total
£

Cost

At 1 October 2023

13,985

2,441

193,252

209,678

At 30 September 2024

13,985

2,441

193,252

209,678

Depreciation

At 1 October 2023

-

521

89,624

90,145

Charge for the year

-

384

21,238

21,622

At 30 September 2024

-

905

110,862

111,767

Carrying amount

At 30 September 2024

13,985

1,536

82,390

97,911

At 30 September 2023

13,985

1,920

103,628

119,533

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

5

Debtors

2024
£

2023
£

Trade debtors

114,496

145,121

Receivables from related parties

891,960

657,427

Prepayments

708

14,356

Other debtors

-

1,818

1,007,164

818,722

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

25,903

25,904

Trade creditors

 

200,295

199,403

Amounts due to related parties

9

117,414

117,329

Taxation and social security

 

87,395

44,737

Accruals and deferred income

 

3,395

3,225

Other creditors

 

1,106

-

 

435,508

390,598

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

41,485

67,389

 

7

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Capital allowances in excess of depreciation

20,982

20,982

2023

Liability
£

Capital allowances in excess of depreciation

26,387

26,387

 

T.A Burley Pharmacy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

25,903

25,904

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

41,485

67,389

 

9

Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company.

At the balance sheet date the company owed the directors £117,414 (2023 - £117,329). There are no fixed repayment terms and no interest is charged on the loan.

 

Summary of transactions with parent

Burley Louth Limited
 (Parent company of T.A Burley Pharmacy Limited)
As at 30 September 2024 the amount due from Burley Louth Limited was £596,989 (2023 - £500,846). There are no fixed repayment terms and no interest is charged on the loan.

 

Summary of transactions with other related parties

Scarborough Healthcare Limited
 (Company for which Mr T Masamha is a current director and shareholder)
As at 30 September 2024 the amountd due from Scarborough Healthcare Ltd was £119,095 (2023 - £Nil). There are no fixed repayment terms and no interest is charged on the loan.


Burley Louth Properties Limited
(Company for which Mr T Masamha is a current director and shareholder)
As at 30 September 2024 the amount due from Burley Louth Properties Limited was £175,876 (2023 - £156,581). There are no fixed repayment terms and no interest is charged on the loan.