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Registered number: 11031873 MEDISTORE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
MEDISTORE LIMITED REGISTERED NUMBER: 11031873 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 2,749,804 |  | 2,749,804
|  |  | 2,749,804 |  | 2,749,804
Current assets |  |  |  |  |
Cash at bank and in hand |  | 8,605 |  | 14,367 |
|  | 8,605 |  | 14,367 |
Creditors: amounts falling due within one year | 6 | (744,067) |  | (711,835) |
Net current liabilities |  |  | (735,462) |  | (697,468)
Total assets less current liabilities |  |  | 2,014,342 |  | 2,052,336
Creditors: amounts falling due after more than one year | 7 |  | (1,065,314) |  | (1,133,535)
Net assets |  |  | 949,028 |  | 918,801
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 948,928 |  | 918,701
|  |  | 949,028 |  | 918,801
Page 1
MEDISTORE LIMITED REGISTERED NUMBER: 11031873 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 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 income statement 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 14 November 2025.
Mr H Patel
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
MEDISTORE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Medistore Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 11031873. The address of the registered office is situated at Level 5A, Maple House, 149 Tottenham Court Road, London W1T 7NF. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. 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: 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.
| 2.3 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
MEDISTORE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | 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 or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.6 | 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.
| 2.7 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Ordinary |  |
| Dividends paid | 38,050 | 40,000
|  | 38,050 | 40,000
Page 4
MEDISTORE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 2,749,804
| At 31 March 2025 | 2,749,804
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Class of shares | Holding
| Triplesave (Chemists) Limited | Ordinary | 100%
| Friends Pharmacy Limited | Ordinary | 100%
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 162,721 | 168,539
| Directors' loan account | 579,546 | 541,496
| Accruals and deferred income | 1,800 | 1,800
|  | 744,067 | 711,835
| Bank loans are secured by a fixed and floating charge over the assets of the company.
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,065,314 | 1,133,535
|  | 1,065,314 | 1,133,535
| Bank loans are secured by a fixed and floating charge over the assets of the company.
Page 5
MEDISTORE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Controlling party
The company was under the control of Mr H Patel by virtue of the fact that he owns 100% of the issued share capital.
Page 6