Queen Street Pharmacy Ltd - Filleted accounts

Registered number

05749532

Queen Street Pharmacy Ltd

Report and Accounts

31 March 2025

Queen Street Pharmacy Ltd
Registered number:		05749532
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		2,653,393			2,653,393
Tangible assets	4		349,676			351,020
			3,003,069			3,004,413

Current assets
Stocks		240,450			343,850
Debtors	5	76,034			55,005
Cash at bank and in hand		478,304			451,454
		794,788			850,309

Creditors: amounts falling due within one year	6	(2,184,230)			(2,414,764)

Net current liabilities			(1,389,442)			(1,564,455)

Total assets less current liabilities			1,613,627			1,439,958

Creditors: amounts falling due after more than one year	7		(1,647,778)			(1,816,109)

Provisions for liabilities			(5,348)			(5,997)


Net liabilities			(39,499)			(382,148)

Capital and reserves
Called up share capital			2,000			2,000
Profit and loss account			(41,499)			(384,148)

Shareholder's funds			(39,499)			(382,148)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mrs Zahida Taqi Khalaf
Director
Approved by the board on 28 November 2025

Queen Street Pharmacy Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
	Amortisation
	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 20 % straight line

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures and fittings		Reducing balance 15%
	Plant and machinery		Reducing balance 25%
	Motor Vehicle		Reducing balance 25%


	Stock and wok-in-progress
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.






	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

2	Employees						2025		2024
Number								Number

	Average number of persons employed by the company						45		44


3	Intangible fixed assets								£
	Goodwill:

	Cost
	At 1 April 2024								3,693,389
	At 31 March 2025								3,693,389

	Amortisation
	At 1 April 2024								1,039,996
	At 31 March 2025								1,039,996

	Net book value
	At 31 March 2025								2,653,393
	At 31 March 2024								2,653,393


	Goodwill represents the purchased value of previous business and is carried in the accounts at its historic value on 21 August 2000 in respect of Queen Street Pharmacy and June 2015 in respect of Medicx Pharmacy and November 2018 in respect of Ross chemist & Springfield Pharmacy.


4	Tangible fixed assets
		Leasehold improvement	Fixtures & fittings		Plant and machinery etc		Motor vehicles		Total
£			£	£		£		£
	Cost
	At 1 April 2024	243,441	131,209		114,897		171,144		660,691
	Additions	-	5,000		3,957		19,216		28,173
	At 31 March 2025	243,441	136,209		118,854		190,360		688,864

	Depreciation
	At 1 April 2024	-	92,627		109,430		107,614		309,671
	Charge for the year	-	6,537		2,294		20,686		29,517
	At 31 March 2025	-	99,164		111,724		128,300		339,188

	Net book value
	At 31 March 2025	243,441	37,045		7,130		62,060		349,676
	At 31 March 2024	243,441	38,582		5,467		63,530		351,020



5	Debtors						2025		2024
£								£

	Prepayments and accrued income						-		1,000
	Other debtors						76,034		54,005
							76,034		55,005



6	Creditors: amounts falling due within one year						2025		2024
£								£

	Bank loans and overdrafts						203,540		203,540
	Trade creditors						513,851		444,199
	Taxation and social security costs						7,279		2,982
	Accruals and deferred income						350,032		542,671
	Directors' account						106,058		160,464
	Other creditors						1,003,470		1,060,908
							2,184,230		2,414,764




7	Creditors: amounts falling due after one year						2025		2024
£								£

	Bank loans						1,647,778		1,816,109







8	Trading name

	The company has traded throughout the current and previous year under the trading name of " Queen Street Pharmacy" from its business premises at 36 Queen Street, Stoke On Trent. The company has traded under the trading name of "Middleport Pharmacy" onwards from 27 January 2011 from its business premises at 185 Newcastle Street, Stoke On Trent and "Medicx Pharmacy" from its business premises at 193 Old Street, Ashton-Under -Lyne OL6 7SR onwards from June 2015 and from November 2018 "Rose Chemist" from its premises at 356-358 Worsley Road,Eccles, Manchester M30 8JA and "Springfield Pharmacy" from its premises at 384 Liverpool Road, Manchester M30 8QD.


9	Other information

	Queen Street Pharmacy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	36-38 Queen Street
	Burslam
	Stoke-On-Trent
	Cheshire
	ST6 3EG