| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| ASSOCIATED CHEMISTS (WICKER) LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| ASSOCIATED CHEMISTS (WICKER) LIMITED |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ASSOCIATED CHEMISTS (WICKER) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 35 Wilkinson Street |
| Sheffield |
| South Yorkshire |
| S10 2GB |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve | 11 |
| Retained earnings | ( |
) | ( |
) |
| 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. |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| BALANCE SHEET - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Associated Chemists (Wicker) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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. |
| Going concern |
| The company encountered a more challenging year than expected, due to ongoing cost pressures and inflation, in particular relating to energy and wages. |
| The existing pharmacy contract came to an end, and no uplift in funding was provided during the year. |
| However, the company has made many positive steps towards a return to profitability moving forward including a move from leased premises to owned premises, and a new out of hours contract. |
| The company has no outstanding payments to HMRC and is within terms with all key suppliers and has the full support of its bankers. There is an overdraft facility in place until July 2025 and the directors are currently in the process of completing a large refinancing project. |
| The directors continue to maximise and deliver on any additional revenue opportunities such as Covid 19 and flu vaccinations and are constantly looking to identify additional profit streams for the future and continue to cut costs where possible, without affecting the service on offer. |
| Investment in new technology will continue to reduce costs where possible, and a new computer system has been installed to free up pharmacist time to provide additional services generating income. |
| A new pharmacy contract is in place for 2025/26, which will provide additional funding of around £54,000 and the company has the ongoing support and encouragement from South Yorkshire Integrated Care Board (ICB), Sheffield Council and the Foundry Primary Care Network (PCN). |
| The directors therefore believe that the company is a going concern and the accounts are prepared on that basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Cost or valuation at 31 March 2025 is represented by: |
| Fixtures |
| Freehold | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| Valuation in 2025 | 350,279 | - | - | 350,279 |
| Cost | 249,721 | 1,351,215 | 25,201 | 1,626,137 |
| 600,000 | 1,351,215 | 25,201 | 1,976,416 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 249,721 | 249,721 |
| Aggregate depreciation | 157,838 | 153,272 |
| Value of land in freehold land and buildings | 21,398 | 21,398 |
| Freehold land and buildings were valued on an open market basis on 21 March 2025 by SMC Brownill Vickers . |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST OR VALUATION |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans over 5 years | 63,758 | 113,832 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| ASSOCIATED CHEMISTS (WICKER) LIMITED (REGISTERED NUMBER: 00496833) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 3,538 | 10,757 |
| Hire Purchase contract liabilities are secured against the related assets. |
| The company has provided security on a loan included above totalling £183,457 by way of first legal charges on company properties together with an unlimited debenture. |
| Within the above is a bounce back loan of £19,324 which is not secured but is guaranteed by the UK Government, and further unsecured loans totalling £98,285. |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2024 |
| Other movements | 19,566 |
| At 31 March 2025 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by all of the shareholders. There is no controlling party due to the nature of the shareholding structure. |