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REGISTRAR OF COMPANIES

Registration number: 05638940

Dalston Pharmacy Limited

Unaudited Financial Statements

30 November 2024

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Dalston Pharmacy Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dalston Pharmacy Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dalston Pharmacy Limited for the year ended 30 November 2024 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dalston Pharmacy Limited, as a body, in accordance with the terms of our engagement letter dated 7 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of Dalston Pharmacy Limited and state those matters that we have agreed to state to the Board of Directors of Dalston Pharmacy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dalston Pharmacy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dalston Pharmacy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dalston Pharmacy Limited. You consider that Dalston Pharmacy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dalston Pharmacy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

30 June 2025

 

Dalston Pharmacy Limited

(Registration number: 05638940)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

150,521

190,659

Tangible assets

5

235,315

190,886

 

385,836

381,545

Current assets

 

Stocks

234,202

234,134

Debtors

6

1,500,706

1,529,577

Cash at bank and in hand

 

442,496

432,249

 

2,177,404

2,195,960

Creditors: Amounts falling due within one year

7

(1,389,437)

(1,746,622)

Net current assets

 

787,967

449,338

Total assets less current liabilities

 

1,173,803

830,883

Provisions for liabilities

(30,496)

(9,547)

Net assets

 

1,143,307

821,336

Capital and reserves

 

Allotted, called up and fully paid share capital

120

120

Capital redemption reserve

110

110

Revaluation reserve

28,066

28,768

Profit and loss account

1,115,011

792,338

Total equity

 

1,143,307

821,336

 

Dalston Pharmacy Limited

(Registration number: 05638940)
Balance Sheet as at 30 November 2024 (continued)

For the financial year ending 30 November 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 and 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 30 June 2025 and signed on its behalf by:
 

.........................................

M Stakim

Director

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 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:
2 Vicars Cottages
The Square Dalston
CARLISLE
CA5 7LW

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

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.

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.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subequent accumulated impairment losses, except Land and Buildings which have been revalued on 8 August 2024.

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

Land and buildings

2% straight line

Improvement to property

10% straight line

Motor vehicles

25% reducing balance

Furniture and fittings

25% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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. Trade creditors 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 subsequently measured at amortised cost using the effective interest method where due after more than one year.

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.

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.

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 43 (2023 - 41).

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

1,326,359

1,326,359

At 30 November 2024

1,326,359

1,326,359

Amortisation

At 1 December 2023

1,135,700

1,135,700

Amortisation charge

40,138

40,138

At 30 November 2024

1,175,838

1,175,838

Carrying amount

At 30 November 2024

150,521

150,521

At 30 November 2023

190,659

190,659

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

5

Tangible assets

Land and buildings
£

Improvement to property
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 December 2023

120,000

-

54,929

164,347

339,276

Additions

-

68,542

-

-

68,542

At 30 November 2024

120,000

68,542

54,929

164,347

407,818

Depreciation

At 1 December 2023

9,232

-

19,740

119,418

148,390

Charge for the year

2,702

2,152

8,797

10,462

24,113

At 30 November 2024

11,934

2,152

28,537

129,880

172,503

Carrying amount

At 30 November 2024

108,066

66,390

26,392

34,467

235,315

At 30 November 2023

110,768

-

35,189

44,929

190,886

Revaluation

The fair value of the company's Land and buildings was revalued on 8 August 2024 by an independent valuer. The name and qualification of the independent valuer are DM Hall.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £80,000 (2023 - £82,000).

6

Debtors

2024
£

2023
£

Trade debtors

1,024,766

1,387,612

Other debtors

475,940

141,965

1,500,706

1,529,577

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

187,820

Trade creditors

 

705,974

652,535

Taxation and social security

 

13,975

25,294

Corporation tax liability

 

128,545

122,763

Other creditors

 

540,943

758,210

 

1,389,437

1,746,622

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

187,820

 

Dalston Pharmacy Limited

Notes to the Financial Statements for the Year Ended 30 November 2024 (continued)

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £173,333 (2023 - £199,167). This relates to the rent of one property. The lease ends in 2033.

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 November 2024
£

M Stakim

Director loan

-

274,385

(82,221)

-

-

3,426

195,590

               
         

L J Stakim

Director loan

-

274,385

(82,221)

-

-

3,426

195,590

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2.25% on advances to directors.

11

Reserves

Movements in the revaluation reserve for the current year are as follows:

Revaluation reserve
£

Brought forward

28,768

Transfer realised profit

(702)

Carried forward

28,066