Chagford Pharmacy Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 08854932

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		11,460		14,058

			11,460		14,058
CURRENT ASSETS
Stocks		44,669		43,455
Debtors	6	56,513		67,756
Cash at bank and in hand		22,208		21,693

		123,390		132,904
Creditors: Amounts Falling Due Within One Year	7	(207,500 )		(207,878 )

NET CURRENT ASSETS (LIABILITIES)			(84,110 )		(74,974 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(72,650 )		(60,916 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(691 )		-

NET LIABILITIES			(73,341 )		(60,916 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(73,342 )		(60,917 )

SHAREHOLDERS' FUNDS			(73,341)		(60,916)

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Chagford Pharmacy Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

D H Fulton

Director

28 August 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Chagford Pharmacy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08854932 . The registered office is 14 New Street, Moretonhampstead, Devon, TQ13 8PE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis albeit that there are net liabilities reported on the balance sheet of £73,341, due to the ongoing support and loan from the parent company, which stood at £147,685 at the balance sheet date.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	15% reducing balance
Computer Equipment	25% reducing balance

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

...CONTINUED

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Chagford Pharmacy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation - continued

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 6)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	431,549

As at 31 March 2025	431,549

Amortisation
As at 1 April 2024	431,549

As at 31 March 2025	431,549

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

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Chagford Pharmacy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 April 2024	55,130

As at 31 March 2025	55,130

Depreciation
As at 1 April 2024	41,072
Provided during the period	2,598

As at 31 March 2025	43,670

Net Book Value
As at 31 March 2025	11,460

As at 1 April 2024	14,058

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	40,229	45,054
Amounts owed by group undertakings	6,395	6,395
Other debtors	9,889	16,307

	56,513	67,756

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	45,996	78,420
Amounts owed to group undertakings	147,685	117,085
Other creditors	11,542	10,544
Taxation and social security	2,277	1,829

	207,500	207,878

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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Chagford Pharmacy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	16,250	16,250
Later than one year and not later than five years	48,750	65,000

	65,000	81,250

10. Related Party Transactions

The company is a subsidiary in a small group. The parent company of that group is Moreton Pharmacy Limited

whose registered office is 14 New Street, Moretonhampstead TQ13 8PE.

The company has provided security against the parent company's bank borrowings with a fixed and floating

charge over the company's assets and undertaking.

A loan subsisted between the company and the parent company as follows:

Amounts loaned by the parent company £66,665 (2024 - £23,823)

Amounts repaid to the parent company £36,065 (2024 - £25,639)

Balance owing to the parent company at the balance sheet date £147,685 (2024 - £117,085)

The loan is unsecured, interest free and repayable on demand.

Loans subsisted between the company and other group companies as follows:

Amounts loaned by other group companies £Nil (2024 - £2,139)

Amounts loaned to other group companies £Nil (2024 - £245)

Balances owing to other group companies at the balance sheet date £Nil (2024 - £Nil)

Balances owing from other group companies at the balance sheet date £6,395 (2024 - £6,395)

The loans are unsecured, interest free and repayable on demand.

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