IRIS Accounts Production v25.1.3.33 SC069588 Board of Directors 1.12.23 30.11.24 30.11.24 Medium entities dispensing chemist in specialised stores. true false true true false false false true false Auditors Opinion These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0695882023-11-30SC0695882024-11-30SC0695882023-12-012024-11-30SC0695882022-11-30SC0695882022-12-012023-11-30SC0695882023-11-30SC069588ns15:Scotland2023-12-012024-11-30SC069588ns14:PoundSterling2023-12-012024-11-30SC069588ns10:Director12023-12-012024-11-30SC069588ns10:PrivateLimitedCompanyLtd2023-12-012024-11-30SC069588ns10:MediumEntities2023-12-012024-11-30SC069588ns10:Audited2023-12-012024-11-30SC069588ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-12-012024-11-30SC069588ns10:Medium-sizedCompaniesRegimeForAccounts2023-12-012024-11-30SC069588ns10:FullAccounts2023-12-012024-11-30SC06958812023-12-012024-11-30SC069588ns10:OrdinaryShareClass12023-12-012024-11-30SC069588ns10:Director22023-12-012024-11-30SC069588ns10:Director32023-12-012024-11-30SC069588ns10:CompanySecretary12023-12-012024-11-30SC069588ns10:RegisteredOffice2023-12-012024-11-30SC069588ns5:CurrentFinancialInstruments2024-11-30SC069588ns5:CurrentFinancialInstruments2023-11-30SC069588ns5:Non-currentFinancialInstruments2024-11-30SC069588ns5:Non-currentFinancialInstruments2023-11-30SC069588ns5:ShareCapital2024-11-30SC069588ns5:ShareCapital2023-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2024-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2024-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2023-11-30SC069588ns5:ShareCapital2022-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2022-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2022-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2022-12-012023-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-012023-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2023-12-012024-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-012024-11-30SC06958822023-12-012024-11-30SC06958822022-12-012023-11-30SC069588ns5:NetGoodwill2023-12-012024-11-30SC069588ns5:IntangibleAssetsOtherThanGoodwill2023-12-012024-11-30SC069588ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-012024-11-30SC069588ns5:LeaseholdImprovements2023-12-012024-11-30SC069588ns5:PlantMachinery2023-12-012024-11-30SC069588ns5:FurnitureFittings2023-12-012024-11-30SC069588ns5:MotorVehicles2023-12-012024-11-30SC069588ns10:HighestPaidDirector2023-12-012024-11-30SC069588ns10:HighestPaidDirector2022-12-012023-11-30SC069588ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-12-012024-11-30SC069588ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-12-012023-11-30SC069588ns5:OwnedAssets2023-12-012024-11-30SC069588ns5:OwnedAssets2022-12-012023-11-30SC069588ns5:NetGoodwill2022-12-012023-11-30SC069588ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-012023-11-30SC069588ns5:NetGoodwill2023-11-30SC069588ns5:PatentsTrademarksLicencesConcessionsSimilar2023-11-30SC069588ns5:NetGoodwill2024-11-30SC069588ns5:PatentsTrademarksLicencesConcessionsSimilar2024-11-30SC069588ns5:NetGoodwill2023-11-30SC069588ns5:PatentsTrademarksLicencesConcessionsSimilar2023-11-30SC069588ns5:LeaseholdImprovements2023-11-30SC069588ns5:PlantMachinery2023-11-30SC069588ns5:FurnitureFittings2023-11-30SC069588ns5:MotorVehicles2023-11-30SC069588ns5:LeaseholdImprovements2024-11-30SC069588ns5:PlantMachinery2024-11-30SC069588ns5:FurnitureFittings2024-11-30SC069588ns5:MotorVehicles2024-11-30SC069588ns5:LeaseholdImprovements2023-11-30SC069588ns5:PlantMachinery2023-11-30SC069588ns5:FurnitureFittings2023-11-30SC069588ns5:MotorVehicles2023-11-30SC069588ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-30SC069588ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30SC069588ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-11-30SC069588ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-11-30SC069588ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-11-30SC069588ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-30SC069588ns5:WithinOneYear2024-11-30SC069588ns5:WithinOneYear2023-11-30SC069588ns5:BetweenOneFiveYears2024-11-30SC069588ns5:BetweenOneFiveYears2023-11-30SC069588ns5:AllPeriods2024-11-30SC069588ns5:AllPeriods2023-11-30SC069588ns5:Secured2024-11-30SC069588ns5:Secured2023-11-30SC069588ns5:DeferredTaxation2023-11-30SC069588ns5:DeferredTaxation2023-12-012024-11-30SC069588ns5:DeferredTaxation2024-11-30SC069588ns10:OrdinaryShareClass12024-11-30SC069588ns5:RetainedEarningsAccumulatedLosses2023-11-30SC069588ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-30
REGISTERED NUMBER: SC069588 (Scotland)












Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 November 2024

for

J. & J.G. Dickson & Son Limited

J. & J.G. Dickson & Son Limited (Registered number: SC069588)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


J. & J.G. Dickson & Son Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: J G Dickson
J S Dickson
Mrs N Miller





SECRETARY: Mrs J Dickson





REGISTERED OFFICE: 35 Mitchell Arcade
Rutherglen
Glasgow
G73 2LS





REGISTERED NUMBER: SC069588 (Scotland)





AUDITORS: O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Strategic Report
for the Year Ended 30 November 2024

The directors present their strategic report for the year ended 30 November 2024.

The principal activity of the company throughout the year was the operation of a chain of retail pharmacies, located within local communities.

REVIEW OF BUSINESS
The directors are satisfied with the performance of the business throughout the year. The company's key performance indicators are turnover and gross profit margin.

Turnover for the year was £13,559,216 (2023 £13,457,191) and gross profit margin was 42% (2023 39%). Economies of scale have been achieved via investment in software and machinery, as well as the development of home delivery services, with the company operating nine pharmacy branches at the balance sheet date.

The company intends to continue to strive for operational efficiencies to further increase dispensing volumes and to mitigate the risk of a reduction in gross profit margin.

PRINCIPAL RISKS AND UNCERTAINTIES
While the directors are satisfied with the company's performance they continue to monitor the industry as a whole to ensure an awareness of the macroeconomic factors affecting the business, and are confident that the business can adapt quickly to changes in the circumstances affecting their marketplace.

Risks are formally reviewed by the directors and appropriate processes are put in place to monitor and mitigate them.

Competition:
Targeting of patients by mail order pharmacies, means that the company has to strive to retain patients and customers. Investment in expanding and improving services, as well as in people, has helped to maintain customer loyalty in a competitive market.

People:
The company recognises that it's success is achieved by the ability and effort of its staff, particularly of qualified pharmacists. Staff retention is monitored closely and initiatives such as training and development and employee incentive programmes are utilised.

ON BEHALF OF THE BOARD:





J S Dickson - Director


27 August 2025

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Report of the Directors
for the Year Ended 30 November 2024

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

DIVIDENDS
No dividends will be distributed for the year ended 30 November 2024.

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

J G Dickson
J S Dickson
Mrs N Miller

The Company has made qualifying third-party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Report of the Directors
for the Year Ended 30 November 2024


AUDITORS
The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J S Dickson - Director


27 August 2025

Report of the Independent Auditors to the Members of
J. & J.G. Dickson & Son Limited

Qualified Opinion
We have audited the financial statements of J. & J.G. Dickson & Son Limited (the 'company') for the year ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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).

We have audited the financial statements of J. & J.G. Dickson & Son Limited (the 'company') for the year ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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, except for the possible effects of the matters described in the Basis for qualified opinion section of our report, the financial statements:

- Give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its 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 company 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. 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 company 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. Except as discussed in the following paragraph, we conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.

We did not observe the physical counting of inventories as at 30 November 2024, placing reliance on third-party experts in pharmacy inventory valuation. Owing to the nature of the Company's records, we were unable to satisfy ourselves as to inventory quantities by audit procedure with respect to the pharmacy branches for which inventories were assessed four and five days prior to the year end.

In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to satisfy ourselves as to physical inventory quantities, and had the results of acquired subsidiaries been audited, the financial statements give a true and fair view of the financial position of the Company as of 30 November 2024.

Report of the Independent Auditors to the Members of
J. & J.G. Dickson & Son Limited


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 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 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 Statement of Directors' Responsibilities 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
J. & J.G. Dickson & Son 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates.
We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.
We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.
We considered the company’s revenue recognition policy and performed substantive tests to confirm the completeness of revenue reported.
We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, UK GAAP, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.
We considered how fraud might occur in this company and designed our tests accordingly.
We preformed audit work to address the risk of management override of internal controls, including reviewing journals, reviewing for large or unusual items and transactions out with the normal course of business, and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

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.




John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

27 August 2025

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Income Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

REVENUE 13,559,216 13,457,191

Cost of sales 7,765,272 8,222,728
GROSS PROFIT 5,793,944 5,234,463

Administrative expenses 5,584,406 5,157,163
209,538 77,300

Other operating income 219,974 146,155
OPERATING PROFIT 4 429,512 223,455

Interest receivable and similar income 5,346 3,768
434,858 227,223

Interest payable and similar expenses 5 204,478 215,261
PROFIT BEFORE TAXATION 230,380 11,962

Tax on profit 6 89,041 167,662
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

141,339

(155,700

)

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Other Comprehensive Income
for the Year Ended 30 November 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 141,339 (155,700 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

141,339

(155,700

)

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 7 8,249,681 8,833,691
Property, plant and equipment 8 706,228 790,719
Investment property 9 580,290 934,564
9,536,199 10,558,974

CURRENT ASSETS
Inventories 10 643,954 627,328
Debtors 11 1,297,970 888,228
Investments 12 1,113,061 1,051,012
Cash at bank and in hand 1,355,734 1,810,919
4,410,719 4,377,487
CREDITORS
Amounts falling due within one year 13 2,169,348 2,317,384
NET CURRENT ASSETS 2,241,371 2,060,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,777,570

12,619,077

CREDITORS
Amounts falling due after more than one year 14 (6,151,838 ) (7,002,798 )

PROVISIONS FOR LIABILITIES 18 (120,780 ) (252,666 )
NET ASSETS 5,504,952 5,363,613

CAPITAL AND RESERVES
Called up share capital 19 25,000 25,000
Fair value reserve 20 42,040 221,939
Retained earnings 20 5,437,912 5,116,674
SHAREHOLDERS' FUNDS 5,504,952 5,363,613

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:





J S Dickson - Director


J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Statement of Changes in Equity
for the Year Ended 30 November 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 December 2022 25,000 5,333,587 160,726 5,519,313

Changes in equity
Total comprehensive income - (216,913 ) 61,213 (155,700 )
Balance at 30 November 2023 25,000 5,116,674 221,939 5,363,613

Changes in equity
Total comprehensive income - 321,238 (179,899 ) 141,339
Balance at 30 November 2024 25,000 5,437,912 42,040 5,504,952

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Cash Flow Statement
for the Year Ended 30 November 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 370,863 1,201,819
Interest paid (204,478 ) (215,261 )
Impairment of Goodwill - 100,000
Tax paid (87,653 ) (56,603 )
Net cash from operating activities 78,732 1,029,955

Cash flows from investing activities
Purchase of intangible fixed assets - (15,800 )
Purchase of tangible fixed assets (75,106 ) (229,741 )
Sale of tangible fixed assets 8,891 -
Sale of investment property 311,880 -
Disposal of Investment - 199,998
Interest received 5,346 3,768
Net cash from investing activities 251,011 (41,775 )

Cash flows from financing activities
Loan repayments in year (784,928 ) (520,117 )
Net cash from financing activities (784,928 ) (520,117 )

(Decrease)/increase in cash and cash equivalents (455,185 ) 468,063
Cash and cash equivalents at beginning of
year

2

1,810,919

1,342,856

Cash and cash equivalents at end of year 2 1,355,734 1,810,919

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Notes to the Cash Flow Statement
for the Year Ended 30 November 2024

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

2024 2023
£    £   
Profit before taxation 230,380 11,962
Depreciation charges 738,195 737,089
Loss on disposal of fixed assets 38,914 -
Gain on revaluation of fixed assets (92,535 ) (54,284 )
Finance costs 204,478 215,261
Finance income (5,346 ) (3,768 )
1,114,086 906,260
Increase in inventories (16,626 ) (25,007 )
(Increase)/decrease in trade and other debtors (409,742 ) 475,764
Decrease in trade and other creditors (316,855 ) (155,198 )
Cash generated from operations 370,863 1,201,819

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 November 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 1,355,734 1,810,919
Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 1,810,919 1,342,856


J. & J.G. Dickson & Son Limited (Registered number: SC069588)

Notes to the Cash Flow Statement
for the Year Ended 30 November 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 1,810,919 (455,185 ) 1,355,734
1,810,919 (455,185 ) 1,355,734

Liquid resources
Current asset investments 1,051,012 62,049 1,113,061
1,051,012 62,049 1,113,061
Debt
Debts falling due within 1 year (527,583 ) (14,295 ) (541,878 )
Debts falling due after 1 year (7,002,798 ) 850,960 (6,151,838 )
(7,530,381 ) 836,665 (6,693,716 )
Total (4,668,450 ) 443,529 (4,224,921 )

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

1. STATUTORY INFORMATION

J. & J.G. Dickson & Son 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 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.


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

Revenue
Revenue comprises sales of goods at invoice value less discounts and excluding value added tax, plus rental income received from investment properties.

Revenue from the provision of goods is recognised when the risks and rewards of ownership have been transferred to the customer, i.e. when the goods are delivered to or are picked up by the customer, and when the amounts to be recognised are fixed and determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of various businesses, is being amortised evenly over twenty years.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - at varying rates on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Subsidies are recognised in the profit and loss in the period to which they relate.

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.

Inventories
Inventories 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
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.

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,747,379 2,569,744
Social security costs 305,540 271,429
Other pension costs 98,711 46,375
3,151,630 2,887,548

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

Pharmacy staff/Drivers 84 81
Dispensing technicians/Pharmacy Managers 18 15
Retail and sales staff 6 -
Administrative and head office 5 7
113 103

2024 2023
£    £   
Directors' remuneration 244,470 284,025

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 142,924 153,840

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 19,104 19,104
Other operating leases 7,878 14,693
Depreciation - owned assets 154,186 153,078
Loss on disposal of fixed assets 38,914 -
Goodwill amortisation 582,430 582,430
Patents and licences amortisation 1,580 1,580
Auditors' remuneration 14,000 10,000
Auditors' remuneration for non audit work 14,677 16,939

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 204,478 215,261

6. 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 220,927 87,653

Deferred tax (131,886 ) 80,009
Tax on profit 89,041 167,662

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

7. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 December 2023
and 30 November 2024 11,584,191 15,800 11,599,991
AMORTISATION
At 1 December 2023 2,764,720 1,580 2,766,300
Amortisation for year 582,430 1,580 584,010
At 30 November 2024 3,347,150 3,160 3,350,310
NET BOOK VALUE
At 30 November 2024 8,237,041 12,640 8,249,681
At 30 November 2023 8,819,471 14,220 8,833,691

8. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 548,607 1,262,937 39,777 241,323 2,092,644
Additions - 61,246 - 13,860 75,106
Disposals - - - (27,390 ) (27,390 )
At 30 November 2024 548,607 1,324,183 39,777 227,793 2,140,360
DEPRECIATION
At 1 December 2023 348,826 816,769 37,997 98,333 1,301,925
Charge for year 53,225 64,519 890 35,552 154,186
Eliminated on disposal - - - (21,979 ) (21,979 )
At 30 November 2024 402,051 881,288 38,887 111,906 1,434,132
NET BOOK VALUE
At 30 November 2024 146,556 442,895 890 115,887 706,228
At 30 November 2023 199,781 446,168 1,780 142,990 790,719

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

9. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 934,564
Disposals (354,274 )
At 30 November 2024 580,290
NET BOOK VALUE
At 30 November 2024 580,290
At 30 November 2023 934,564

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2023 56,056
Cost 524,234
580,290

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 524,234 723,379

Investment property was valued on an open market basis on 30 November 2024 by the directors .

10. INVENTORIES
2024 2023
£    £   
Stocks 643,954 627,328

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,026,554 609,461
Amounts owed by associates 1,688 -
Other debtors 16,322 40,496
VAT 134,944 144,019
Prepayments and accrued income 118,462 94,252
1,297,970 888,228

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

12. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 1,113,061 1,051,012

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 541,878 527,583
Trade creditors 1,284,867 1,360,462
Amounts owed to associates - 42,156
Tax 220,927 87,653
Social security and other taxes 59,892 48,395
Accrued expenses 61,784 251,135
2,169,348 2,317,384

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 6,151,838 7,002,798

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 541,878 527,583

Amounts falling due between one and two years:
Bank loans - 1-2 years 556,385 541,956

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,595,453 6,460,842

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 161,150 161,150
Between one and five years 251,281 483,450
412,431 644,600

J. & J.G. Dickson & Son Limited (Registered number: SC069588)

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

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 6,693,716 7,530,381

The banking facilities are secured by standard securities over the properties and a floating charge over the assets and undertakings of the company.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 120,780 252,666

Deferred
tax
£   
Balance at 1 December 2023 252,666
Credit to Income Statement during year (131,886 )
Balance at 30 November 2024 120,780

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

The ordinary shares are held by the James G Dickson Settlement Trust, of which directors J S and J G Dickson are beneficiaries. These carry full voting and dividend rights.

20. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2023 5,116,674 221,939 5,338,613
Profit for the year 141,339 141,339
FV adjustment - non distributable 179,899 (179,899 ) -
At 30 November 2024 5,437,912 42,040 5,479,952

21. RELATED PARTY DISCLOSURES

The ultimate controlling party is J S Dickson.