REGISTERED NUMBER: 04679847 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MATRIX PHARMACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Hargun

A Singh

REGISTERED OFFICE:

12 Beacon Road

Walsall

West Midlands

WS5 3LF

REGISTERED NUMBER:

04679847 (England and Wales)

ACCOUNTANTS:

Ashcrofts Accountants Limited

2 Cedargrove

Hagley

Stourbridge

West Midlands

DY9 0DR

BANKERS:

Lloyds Bank plc

293 High Street

West Bromwich

West Midlands

B70 8NA

FIXED ASSETS

Intangible assets

4

1,509,739

1,649,436

Tangible assets

5

385,986

35,270

1,895,725

1,684,706

CURRENT ASSETS

Stocks

6

400,418

378,400

Debtors

7

1,103,225

931,541

Cash at bank and in hand

414,732

884,807

1,918,375

2,194,748

CREDITORS

Amounts falling due within one year

8

(934,754

)

(914,743

)

NET CURRENT ASSETS

983,621

1,280,005

TOTAL ASSETS LESS CURRENT LIABILITIES

2,879,346

2,964,711

CREDITORS

Amounts falling due after more than one year

9

(391,313

)

(456,919

)

PROVISIONS FOR LIABILITIES

13

(74,717

)

(7,186

)

NET ASSETS

2,413,316

2,500,606

CAPITAL AND RESERVES

Called up share capital

14

8

8

Share premium

15

1,781,921

1,781,921

Retained earnings

15

631,387

718,677

SHAREHOLDERS' FUNDS

2,413,316

2,500,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

A Singh - Director

P Hargun - Director

1.	STATUTORY INFORMATION

Matrix Pharmacy Limited is a private company, limited by shares , registered in England and Wales. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of fifteen 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Fixtures, fittings & equipment

-

20% on reducing balance

Stocks

Stocks 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2024 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

2,095,447

AMORTISATION

At 1 April 2024

446,011

Amortisation for year

139,697

At 31 March 2025

585,708

NET BOOK VALUE

At 31 March 2025

1,509,739

At 31 March 2024

1,649,436

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

Short

to

fittings

leasehold

property

& equipment

Totals

£

£

£

£

COST

At 1 April 2024

15,000

7,241

348,429

370,670

Additions

-

-

401,878

401,878

At 31 March 2025

15,000

7,241

750,307

772,548

DEPRECIATION

At 1 April 2024

15,000

1,303

319,097

335,400

Charge for year

-

145

51,017

51,162

At 31 March 2025

15,000

1,448

370,114

386,562

NET BOOK VALUE

At 31 March 2025

-

5,793

380,193

385,986

At 31 March 2024

-

5,938

29,332

35,270

6.

STOCKS

2025

2024

£

£

Stocks

400,418

378,400

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

587,163

548,468

Amounts owed by group undertakings

268,153

180,429

Other debtors

9,000

30,329

VAT

147,379

142,113

Prepayments and accrued income

91,530

30,202

1,103,225

931,541

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

61,500

58,712

Trade creditors

793,711

735,936

Corporation tax

-

92,385

Social security and other taxes

14,539

20,347

Other creditors

57,620

-

Accruals and deferred income

7,384

7,363

934,754

914,743

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

391,313

456,919

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

99,113

210,071

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

61,500

58,712

Amounts falling due between one and two years:

Bank loans - 1-2 years

62,700

59,912

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

229,500

186,936

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

99,113

210,071

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

In more than five years

132,300

127,300

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

452,813

515,631

13.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

74,717

7,186

Deferred

tax

£

Balance at 1 April 2024

7,186

Charged during the year

67,531

Balance at 31 March 2025

74,717

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

8

Ordinary

£1

8

8

15.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2024

718,677

1,781,921

2,500,598

Profit for the year

48,710

48,710

Dividends

(136,000

)

(136,000

)

At 31 March 2025

631,387

1,781,921

2,413,308

16.	RELATED PARTY DISCLOSURES

At 31 March 2025, there was a loan to Matrix Primary Healthcare Limited of £Nil (2024: £30,329), a company in which Mr P Hargun and Mr A Singh are directors. This unsecured loan is interest free and repayable on demand.

At 31 March 2025, there was a loan from Matrix Primary Healthcare Limited of £57,421 (2024: £Nil), a company in which Mr P Hargun and Mr A Singh are directors. This unsecured loan is interest free and repayable on demand.

At 31 March 2025, there was a loan to Matrix Asset Holdings Limited of £268,153 (2024: £180,429), a company in which Mr P Hargun and Mr A Singh are directors. Matrix Asset Holdings Limited is the parent undertaking of Matrix Pharmacy Limited. This unsecured loan is interest free and repayable on demand.

17.	ULTIMATE CONTROLLING PARTY

The controlling party is Matrix Asset Holdings Limited.