BrightAccountsProduction v1.0.0 v1.0.0 2023-12-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a retail pharmacy. 27 August 2025 NI602540 2024-11-30 NI602540 2023-11-30 NI602540 2022-11-30 NI602540 2023-12-01 2024-11-30 NI602540 2022-12-01 2023-11-30 NI602540 uk-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 NI602540 uk-curr:PoundSterling 2023-12-01 2024-11-30 NI602540 uk-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 NI602540 uk-bus:AbridgedAccounts 2023-12-01 2024-11-30 NI602540 uk-core:ShareCapital 2024-11-30 NI602540 uk-core:ShareCapital 2023-11-30 NI602540 uk-core:RetainedEarningsAccumulatedLosses 2024-11-30 NI602540 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI602540 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-11-30 NI602540 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 NI602540 uk-bus:FRS102 2023-12-01 2024-11-30 NI602540 uk-core:Goodwill 2023-12-01 2024-11-30 NI602540 uk-core:LandBuildings 2023-12-01 2024-11-30 NI602540 uk-core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 NI602540 uk-core:Goodwill 2023-11-30 NI602540 uk-core:Goodwill 2024-11-30 NI602540 2023-12-01 2024-11-30 NI602540 uk-bus:Director1 2023-12-01 2024-11-30 NI602540 uk-bus:CompanySecretaryDirector1 2023-12-01 2024-11-30 NI602540 uk-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI602540
 
 
N & K Pharmacy Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 November 2024
N & K Pharmacy Ltd
Company Registration Number: NI602540
ABRIDGED BALANCE SHEET
as at 30 November 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 375,000 412,500
Tangible assets 5 474,541 488,469
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Fixed Assets 849,541 900,969
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Current Assets
Stocks 42,512 89,925
Debtors 268,930 435,085
Cash and cash equivalents 67,065 59,924
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378,507 584,934
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Creditors: amounts falling due within one year (265,476) (1,072,695)
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Net Current Assets/(Liabilities) 113,031 (487,761)
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Total Assets less Current Liabilities 962,572 413,208
 
Creditors:
amounts falling due after more than one year (6,606) (17,606)
 
Provisions for liabilities (3,323) (4,241)
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Net Assets 952,643 391,361
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Capital and Reserves
Called up share capital 200 200
Retained earnings 952,443 391,161
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Equity attributable to owners of the company 952,643 391,361
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 27 August 2025 and signed on its behalf by
           
           
           
________________________________     ________________________________
Mr. Niall Falls     Mrs. Karen Falls
Director     Director
           



N & K Pharmacy Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 November 2024

   
1. General Information
 
N & K Pharmacy Ltd is a private company limited by shares incorporated in Northern Ireland. The principle place of business is 56 William Street, Cookstown, BT80 8NB. The Financial Statements are presented in pounds sterling (£) which is also the functional currency of the company. The company number is NI602540.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 November 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Revenue is recognised upon customer receipt.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Straight Line
  Fixtures, fittings and equipment - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Director 2 2
Employee 18 17
  ───────── ─────────
  20 19
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 December 2023 750,000 750,000
  ───────── ─────────
 
At 30 November 2024 750,000 750,000
  ───────── ─────────
Amortisation
At 1 December 2023 337,500 337,500
Charge for financial year 37,500 37,500
  ───────── ─────────
At 30 November 2024 375,000 375,000
  ───────── ─────────
Net book value
At 30 November 2024 375,000 375,000
  ═════════ ═════════
At 30 November 2023 412,500 412,500
  ═════════ ═════════
         
5. Tangible assets
  Land and Fixtures, Total
  buildings fittings and  
  freehold equipment  
  £ £ £
Cost
At 1 December 2023 512,505 114,443 626,948
Additions - 565 565
  ───────── ───────── ─────────
At 30 November 2024 512,505 115,008 627,513
  ───────── ───────── ─────────
Depreciation
At 1 December 2023 41,000 97,479 138,479
Charge for the financial year 10,250 4,243 14,493
  ───────── ───────── ─────────
At 30 November 2024 51,250 101,722 152,972
  ───────── ───────── ─────────
Net book value
At 30 November 2024 461,255 13,286 474,541
  ═════════ ═════════ ═════════
At 30 November 2023 471,505 16,964 488,469
  ═════════ ═════════ ═════════