ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 11923594

WEELSBY VIEW PHARMACY LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2025

WEELSBY VIEW PHARMACY LTD

REGISTERED NUMBER: 11923594

BALANCE SHEET

AS AT 30 APRIL 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		549,085		617,719
Tangible assets	5		297,819		293,824
			846,904		911,543
Current assets
Stocks	6	360,084		372,294
Debtors: amounts falling due after more than one year	7	47,711		47,711
Debtors: amounts falling due within one year	7	548,384		460,187
Cash at bank and in hand	8	265,146		362,260
		1,221,325		1,242,452
Creditors: amounts falling due within one year	9	(424,304)		(423,635)
Net current assets			797,021		818,817
Total assets less current liabilities			1,643,925		1,730,360
Creditors: amounts falling due after more than one year	10		(396,565)		(632,671)

Net assets			1,247,360		1,097,689

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,247,260	1,097,589
	1,247,360	1,097,689

Page 1

WEELSBY VIEW PHARMACY LTD

REGISTERED NUMBER: 11923594

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2025.

Dr J M Raghwani

Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1.	General information

Weelsby View Pharmacy Ltd is a private company limited by shares. The company is incorporated in England & Wales and its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 11923594.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are presented in Sterling (£), which is the functional currency of the entity.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income ot to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in United Kingdom.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property	-		Straight Line Method for 10 years
Plant and machinery	-	25%	Reducing Balance Method
Motor vehicles	-	25%	Reducing Balance Method
Fixtures and fittings	-	25%	Reducing Balance Method
Computer equipment	-	25%	Reducing Balance Method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 28 (2024 - 28).

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 May 2024	686,355
	At 30 April 2025	686,355
	Amortisation
	At 1 May 2024	68,635
	Charge for the year on owned assets	68,635
	At 30 April 2025	137,270
	Net book value
	At 30 April 2025	549,085
	At 30 April 2024	617,719

Page 6


		WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

	5.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 May 2024	242,989	157,211	7,079	59,839	4,797	471,915
Additions	-	-	79,834	-	9,030	88,864
At 30 April 2025	242,989	157,211	86,913	59,839	13,827	560,779
Depreciation
At 1 May 2024	91,122	58,845	3,346	24,286	493	178,092
Charge for the year on owned assets	30,374	24,592	20,892	6,137	2,873	84,868
At 30 April 2025	121,496	83,437	24,238	30,423	3,366	262,960
Net book value
At 30 April 2025	121,493	73,774	62,675	29,416	10,461	297,819
At 30 April 2024	151,867	98,367	3,733	35,553	4,304	293,824

Page 7

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

6.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	360,084	372,294
	360,084	372,294

7.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	47,711	47,711
	47,711	47,711

					2025	2024
					£	£

Due within one year
Trade debtors	410,386	323,190
Amounts owed by group undertakings	21,589	20,000
Other debtors	49,326	56,754
Prepayments and accrued income	67,083	60,243
	548,384	460,187

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	265,146	362,260
	265,146	362,260

Page 8

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	124,001	124,001
Trade creditors	209,387	196,546
Corporation tax	71,272	80,150
Other taxation and social security	2,280	2,281
Other creditors	11,712	14,616
Accruals and deferred income	5,652	6,041
	424,304	423,635

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	145,040	322,562
Amounts owed to group undertakings	251,525	310,109
	396,565	632,671

Page 9

WEELSBY VIEW PHARMACY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Amounts falling due within one year
Bank loans	124,001	124,001
	124,001	124,001
Amounts falling due 1-2 years
Bank loans	124,001	124,001
	124,001	124,001
Amounts falling due 2-5 years
Bank loans	21,040	198,561
	21,040	198,561

	269,042	446,563

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