BASSETT_PHARMACY_LIMITED_31_Mar_2025_companies_house_set_of

Bassett Pharmacy Limited

Statement of Financial Position

31 March 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	207		277
Current assets
Stocks		41,000		39,973
Debtors	6	205,613		117,003
Cash at bank and in hand		126,353		100,007
		372,966		256,983
Creditors: amounts falling due within one year	7	(196,512	)	(266,077	)
Net current assets/(liabilities)		176,454		(9,094	)
Total assets less current liabilities		176,661		(8,817	)
Provisions for liabilities		(52	)	(53	)
Net assets/(liabilities)		176,609		(8,870	)
Capital and reserves
Called up share capital		200		200
Profit and loss account		176,409		(9,070	)
Shareholders funds/(deficit)		176,609		(8,870	)

For the year ending

31 March 2025

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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 income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

7 December 2025

, and are signed on behalf of the board by:

A Loli

Director

Company registration number:

04700220

Bassett Pharmacy Limited

Notes to the Financial Statements

Year ended

31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

19 Burgess Road

Southampton

Hampshire

SO16 7AP

, England.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; 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 or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 April 2024 and 31 March 2025	24,410
Depreciation
At 1 April 2024	24,133
Charge	70
At 31 March 2025	24,203
Carrying amount
At 31 March 2025	207
At 31 March 2024	277

6 Debtors

	2025	2024
	£	£
Trade debtors	83,910	84,879
Amounts owed by group undertakings and undertakings in which the company has a participating interest	99,576	-
Other debtors	22,127	32,124
	205,613	117,003

7 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	173,179	99,373
Amounts owed to group undertakings and undertakings in which the company has a participating interest	-	155,162
Taxation and social security	18,984	724
Other creditors	4,349	10,818
	196,512	266,077