Woods Pharmacy Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11820967

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		670,050		716,800
Tangible Assets	5		44,900		56,804

			714,950		773,604
CURRENT ASSETS
Stocks		60,935		72,759
Debtors	6	26,609		24,750
Cash at bank and in hand		391,361		341,866

		478,905		439,375
Creditors: Amounts Falling Due Within One Year	7	(236,197 )		(238,793 )

NET CURRENT ASSETS (LIABILITIES)			242,708		200,582

TOTAL ASSETS LESS CURRENT LIABILITIES			957,658		974,186

NET ASSETS			957,658		974,186

CAPITAL AND RESERVES
Called up share capital	8		100		100
Share premium account			922,400		922,400
Profit and Loss Account			35,158		51,686

SHAREHOLDERS' FUNDS			957,658		974,186

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Woods Pharmacy Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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.

The financial statements were approved by the board of directors on 24 September 2025 and were signed on its behalf by:

Mr R Patel

Director

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Woods Pharmacy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11820967 . The registered office is 2 Bellgate, Highfield, Hemel Hempstead, HP2 5SB.

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. Turnover

Turnover comprises the sale of goods net of discounts and value added taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is measured at cost less accumulative amortisation and any accumulative impairment losses.. It is amortised to profit and loss account over its estimated economic life of 20 years.

2.4. 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:

Plant & Machinery	25% per annum
Motor Vehicles	25% per annum

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6. Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current period.

2.7. Debtors

Debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

2.8. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

2.9. Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 5)

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Woods Pharmacy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	935,000

As at 31 December 2024	935,000

Amortisation
As at 1 January 2024	218,200
Provided during the period	46,750

As at 31 December 2024	264,950

Net Book Value
As at 31 December 2024	670,050

As at 1 January 2024	716,800

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	52,168	61,252	113,420

As at 31 December 2024	52,168	61,252	113,420

Depreciation
As at 1 January 2024	41,303	15,313	56,616
Provided during the period	2,716	9,188	11,904

As at 31 December 2024	44,019	24,501	68,520

Net Book Value
As at 31 December 2024	8,149	36,751	44,900

As at 1 January 2024	10,865	45,939	56,804

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	209	290
Other debtors	26,400	24,460

	26,609	24,750

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Woods Pharmacy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	167,040	188,233
Corporation tax	53,698	38,693
Other creditors	5,974	6,895
Directors' loan accounts	9,485	4,972

	236,197	238,793

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Directors Advances, Credits and Guarantees

Dividends totalling £130,000 (2023 - £150,000) were paid in the year in respect of shares held by the company's directors.

10. Related Party Transactions

During the year ended 31 December 2024, Woods Pharmacy Limited owed £9,845 (2023 - £4,972) to its Directors. This amount is reflected in the Other creditors under Creditors amounts falling due within one year. The Directors have agreed to provide this loan on an interest free basis and the loan is repayable on demand.

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