74 20 August 2025 false false false false false false false false false false true false false false false true false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 4,001,038 1,469,208 5,470,246 2,194,590 193,899 2,388,489 3,081,757 1,806,448 xbrli:pure xbrli:shares iso4217:GBP 01118562 2023-04-01 2024-03-31 01118562 2024-03-31 01118562 2023-03-31 01118562 2022-04-01 2023-03-31 01118562 2023-03-31 01118562 2022-03-31 01118562 core:NetGoodwill 2023-04-01 2024-03-31 01118562 core:FurnitureFittings 2023-04-01 2024-03-31 01118562 core:MotorVehicles 2023-04-01 2024-03-31 01118562 bus:Director1 2023-04-01 2024-03-31 01118562 core:NetGoodwill 2023-03-31 01118562 core:NetGoodwill 2024-03-31 01118562 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 01118562 core:FurnitureFittings 2023-03-31 01118562 core:MotorVehicles 2023-03-31 01118562 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 01118562 core:FurnitureFittings 2024-03-31 01118562 core:MotorVehicles 2024-03-31 01118562 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 01118562 core:WithinOneYear 2024-03-31 01118562 core:WithinOneYear 2023-03-31 01118562 core:ShareCapital 2024-03-31 01118562 core:ShareCapital 2023-03-31 01118562 core:RetainedEarningsAccumulatedLosses 2024-03-31 01118562 core:RetainedEarningsAccumulatedLosses 2023-03-31 01118562 core:NetGoodwill 2023-03-31 01118562 core:FurnitureFittings 2023-03-31 01118562 core:MotorVehicles 2023-03-31 01118562 bus:SmallEntities 2023-04-01 2024-03-31 01118562 bus:Audited 2023-04-01 2024-03-31 01118562 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01118562 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01118562 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 01118562
Manor Pharmacy (Wheathampstead) Limited
Filleted Financial Statements
31 March 2024
Manor Pharmacy (Wheathampstead) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
3,081,757
1,806,448
Tangible assets
6
60,838
16,277
------------
------------
3,142,595
1,822,725
Current assets
Stocks
845,830
553,771
Debtors
7
878,707
823,800
Cash at bank and in hand
87,541
1,244,965
------------
------------
1,812,078
2,622,536
Creditors: amounts falling due within one year
8
3,700,793
3,135,658
------------
------------
Net current liabilities
1,888,715
513,122
------------
------------
Total assets less current liabilities
1,253,880
1,309,603
Provisions
11,130
2,570
------------
------------
Net assets
1,242,750
1,307,033
------------
------------
Capital and reserves
Called up share capital
250
250
Profit and loss account
1,242,500
1,306,783
------------
------------
Shareholders funds
1,242,750
1,307,033
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 19 August 2025 , and are signed on behalf of the board by:
Mr A M Mansour
Director
Company registration number: 01118562
Manor Pharmacy (Wheathampstead) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Lydford Road, London, NW2 5QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
equally over the period of the lease
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 74 (2023: 59 ).
The company has suffered the payroll costs for another group company and has not recharged these costs.
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023
4,001,038
Additions
1,469,208
------------
At 31 March 2024
5,470,246
------------
Amortisation
At 1 April 2023
2,194,590
Charge for the year
193,899
------------
At 31 March 2024
2,388,489
------------
Carrying amount
At 31 March 2024
3,081,757
------------
At 31 March 2023
1,806,448
------------
6. Tangible assets
Short leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
46,419
185,483
3,650
235,552
Additions
55,348
55,348
--------
---------
-------
---------
At 31 March 2024
46,419
240,831
3,650
290,900
--------
---------
-------
---------
Depreciation
At 1 April 2023
46,419
169,647
3,209
219,275
Charge for the year
10,677
110
10,787
--------
---------
-------
---------
At 31 March 2024
46,419
180,324
3,319
230,062
--------
---------
-------
---------
Carrying amount
At 31 March 2024
60,507
331
60,838
--------
---------
-------
---------
At 31 March 2023
15,836
441
16,277
--------
---------
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
723,270
618,046
Other debtors
155,437
205,754
---------
---------
878,707
823,800
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,292,526
646,068
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,314,690
2,396,032
Corporation tax
39,236
59,914
Social security and other taxes
29,122
16,161
Other creditors
25,219
17,483
------------
------------
3,700,793
3,135,658
------------
------------
9. Summary audit opinion
The auditor's report dated 20 August 2025 was qualified on the following basis:
We were not appointed as auditors of the company until after the year ended 31 March 2024. The accounts for the year ended 31 March 2023 were not audited. Consequently,the opening balances as at 1 April 2023 and the comparative figures for the year ended 31 March 2023 were not audited. We were unable to obtain sufficient appropriate audit evidence regarding the opening balances due to inadequate supporting documentation. Consequently, we were unable to determine whether any adjustments were necessary in respect of the opening statement of financial position as at 1 April 2023 or to the income statement for the year ended 31 March 2024. The senior statutory auditor was Mark Illingsworth BA FCA , for and on behalf of Versant Associates LLP .
10. Related party transactions
The Company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose wholly related party transactions with wholly owned subsidiaries within the group.
11. Controlling party
The company is controlled by Canary Trading Company Limited, a company incorporated in the United Kingdom, which is the immediate and ultimate controlling party. Its registered office is located at 9 Lydford Road, London, NW2 5QY.