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WELLWAY PHARMACY LIMITED

Registered Number
03020162
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

WELLWAY PHARMACY LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors | Dr C Marr
| Dr A Blair
| Dr S Hinchliffe
| Mrs S L Williams
| Dr S Renner
| Dr J Manship
| Mr S S Kullar
| Dr K Sreekissoon
| Dr C E Phipps

Registered Address | The Surgery
| Wellway
| Morpeth
| NE61 1BJ

Registered Number | 03020162 (England and Wales)

WELLWAY PHARMACY LIMITED
Statement of Financial Position
31 March 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Intangible assets | 3 |  |  | - |  |  |  | 8,014
Tangible assets | 4 |  |  | 39,045 |  |  |  | 47,294
|  |  |  | 39,045 |  |  |  | 55,308
Current assets |  |  |  |  |  |  |  |
Stocks | 5 | 66,323 |  |  |  | 97,711 |  |
Debtors | 6 | 332,834 |  |  |  | 401,142 |  |
Cash at bank and on hand |  | 198,719 |  |  |  | 161,126 |  |
|  | 597,876 |  |  |  | 659,979 |  |
Creditors amounts falling due within one year | 7 | (436,272) |  |  |  | (453,275) |  |
Net current assets (liabilities) |  |  |  | 161,604 |  |  |  | 206,704
Total assets less current liabilities |  |  |  | 200,649 |  |  |  | 262,012
Creditors amounts falling due after one year | 8 |  |  | (6,172) |  |  |  | (11,869)
Provisions for liabilities | 9 |  |  | (9,761) |  |  |  | (11,823)
Net assets |  |  |  | 184,716 |  |  |  | 238,320
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 420 |  |  |  | 420
Profit and loss account |  |  |  | 184,296 |  |  |  | 237,900
Shareholders' funds |  |  |  | 184,716 |  |  |  | 238,320

- The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 26 November 2025, and are signed on its behalf by:
Mr S S Kullar Director
Mrs S L Williams Director Registered Company No. 03020162

WELLWAY PHARMACY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually at the point of sale and the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred in respect of the transactions can be measured reliably.

| Operating leases
--- | ---
| Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

| Employee benefits
--- | ---
| 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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

| Current taxation
--- | ---
| The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Intangible assets
--- | ---
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are initally recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

|  | Reducing balance (%)
| Fixtures and fittings | 15
| Vehicles | 25
| Office Equipment | 25

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

| Financial instruments
--- | ---
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

| Government grants or assistance
--- | ---
| Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 20 |  | 21

3. | Intangible assets
--- | ---

|  | Goodwill |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | 450,000 |  | 450,000
| At 31 March 25 | 450,000 |  | 450,000
| Amortisation and impairment
| At 01 April 24 | 441,986 |  | 441,986
| Charge for year | 8,014 |  | 8,014
| At 31 March 25 | 450,000 |  | 450,000
| Net book value
| At 31 March 25 | - |  | -
| At 31 March 24 | 8,014 |  | 8,014

4. | Tangible fixed assets
--- | ---

|  | Vehicles |  | Fixtures & fittings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 April 24 | 21,198 |  | 70,809 |  | 14,693 |  | 106,700
| Additions | - |  | - |  | 1,596 |  | 1,596
| At 31 March 25 | 21,198 |  | 70,809 |  | 16,289 |  | 108,296
| Depreciation and impairment
| At 01 April 24 | 3,533 |  | 48,632 |  | 7,241 |  | 59,406
| Charge for year | 4,416 |  | 3,327 |  | 2,102 |  | 9,845
| At 31 March 25 | 7,949 |  | 51,959 |  | 9,343 |  | 69,251
| Net book value
| At 31 March 25 | 13,249 |  | 18,850 |  | 6,946 |  | 39,045
| At 31 March 24 | 17,665 |  | 22,177 |  | 7,452 |  | 47,294

5. | Stocks
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Finished goods | 66,323 |  | 97,711
| Total | 66,323 |  | 97,711

6. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 305,509 |  | 341,183
| Other debtors | 20,724 |  | 49,957
| Prepayments and accrued income | 6,601 |  | 10,002
| Total | 332,834 |  | 401,142

7. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 229,779 |  | 236,945
| Bank borrowings and overdrafts | 5,697 |  | 19,007
| Taxation and social security | 21,538 |  | 30,574
| Other creditors | 136,667 |  | 161,749
| Accrued liabilities and deferred income | 42,591 |  | 5,000
| Total | 436,272 |  | 453,275

8. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 6,172 |  | 11,869
| Total | 6,172 |  | 11,869

9. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 9,761 |  | 11,823
| Total | 9,761 |  | 11,823

10. | Other commitments
--- | ---
| At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £372,840 (31 March 2024: £403,910).