REGISTERED NUMBER: 05703454 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

P&C BENSON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

I S Bajwa

Secretary:

K K Gossal

Registered office:

Floor 3

Northern Assurance Buildings

9-21 Princess Street

Manchester

Greater Manchester

M2 4DN

Registered number:

05703454 (England and Wales)

Accountants:

S&W Partners (Manchester) Limited

Accountants

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Intangible assets

5

306,158

349,799

Tangible assets

6

138,044

146,852

444,202

496,651

Current assets

Stocks

190,000

198,445

Debtors

7

322,983

394,168

Cash at bank and in hand

151,926

163,863

664,909

756,476

Creditors

Amounts falling due within one year

8

644,307

1,684,115

Net current assets/(liabilities)

20,602

(927,639

)

Total assets less current liabilities

464,804

(430,988

)

Creditors

Amounts falling due after more than one year

9

3,333

14,051

Net assets/(liabilities)

461,471

(445,039

)

Capital and reserves

Called up share capital

11

2

2

Retained earnings

461,469

(445,041

)

Shareholders' funds

461,471

(445,039

)

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

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

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2025 and were signed by:

I S Bajwa - Director

1.	Statutory information

P&C Benson Ltd 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.	Statement of compliance

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. These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

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 2 businesses in 2022 and 2023, are being amortised evenly over their estimated useful life of ten 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

Improvements to property - 10% straight line

Plant and Machinery - 25% straight line

Fixtures and fittings -15% straight line

Motor Vehicles - 25% straight line

Computer equipment - 33/25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

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 Profit and Loss Account, 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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

At the end of the prior period, the company reported net liabilities of £430,988. This was covered by amounts owed to the parent company who pledged support. During the current period the parent company has agreed to write off the balance owing which has resulted in a positive net asset position at the year end.

The directors have considered the company's current financial position, its cash flow and the support available from the parent company. Based on this assessment, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4.	Employees and directors

The average number of employees during the year was 20 (2024 - 20 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 February 2024

and 31 January 2025

1,606,390

Amortisation

At 1 February 2024

1,256,591

Charge for year

43,641

At 31 January 2025

1,300,232

Net book value

At 31 January 2025

306,158

At 31 January 2024

349,799

The company purchased an existing pharmacy on 1 February 2011 for a consideration of £1,200,000, which gave rise to purchased goodwill of £1,170,000. This was has now been fully amortised.

A further pharmacy was purchased on 4 January 2022 for a consideration of £225,000 which included £214,996 goodwill. This goodwill is being amortised on a straight line basis over its expected useful economic life of 10 years.

On 27 July 2023, a further pharmacy was purchased for a consideration of £288,610 which included £221,424 goodwill. This is also being amortised over its expected useful economic life of 10 years.

6.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

Cost

At 1 February 2024

153,203

83,007

22,326

Additions

17,110

-

-

At 31 January 2025

170,313

83,007

22,326

Depreciation

At 1 February 2024

47,794

62,170

22,326

Charge for year

15,029

6,948

-

At 31 January 2025

62,823

69,118

22,326

Net book value

At 31 January 2025

107,490

13,889

-

At 31 January 2024

105,409

20,837

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 February 2024

21,625

45,584

325,745

Additions

-

-

17,110

At 31 January 2025

21,625

45,584

342,855

Depreciation

At 1 February 2024

5,523

41,080

178,893

Charge for year

698

3,243

25,918

At 31 January 2025

6,221

44,323

204,811

Net book value

At 31 January 2025

15,404

1,261

138,044

At 31 January 2024

16,102

4,504

146,852

7.

Debtors: amounts falling due within one year

2025

2024

as

restated

£

£

Other debtors

322,983

394,168

8.

Creditors: amounts falling due within one year

2025

2024

as

restated

£

£

Bank loans and overdrafts

10,000

11,628

Trade creditors

451,282

543,318

Amounts owed to group undertakings

160,320

1,097,510

Social security and other taxes

14,383

21,044

Pension control

3,322

6,765

Accruals and deferred income

5,000

3,850

644,307

1,684,115

9.

Creditors: amounts falling due after more than one year

2025

2024

as

restated

£

£

Bank loan 1 - 1-2 yrs

3,333

10,000

Bank loan 1 - 2-5 yrs

-

4,051

3,333

14,051

10.	Secured debts

There are fixed and floating charges on all property and undertakings of the company

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

2

Ordinary

1

2

2

12.	Other financial commitments

The company is committed to pay £208,000 (2024 £234,000 under the remaining lease term of the property of 8 years (2024 - 9 years).