REGISTERED NUMBER: 10474495 (England and Wales)

Keith's Pharmacy Limited

Unaudited Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss L A Keith

A Yeung

REGISTERED OFFICE:

60 Woodland Lane

Chapel Allerton

Leeds

West Yorkshire

LS7 4PD

REGISTERED NUMBER:

10474495 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Intangible assets

4

278,689

301,454

Tangible assets

5

13,719

14,667

292,408

316,121

CURRENT ASSETS

Stocks

46,201

47,055

Debtors

6

332,924

103,000

Cash at bank and in hand

42,505

89,514

421,630

239,569

CREDITORS

Amounts falling due within one year

7

178,333

203,424

NET CURRENT ASSETS

243,297

36,145

TOTAL ASSETS LESS CURRENT LIABILITIES

535,705

352,266

CREDITORS

Amounts falling due after more than one year

8

(435,005

)

(250,000

)

PROVISIONS FOR LIABILITIES

(2,607

)

(2,787

)

NET ASSETS

98,093

99,479

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

98,092

99,478

98,093

99,479

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th October 2025 and were signed on its behalf by:

Miss L A Keith - Director

1.	STATUTORY INFORMATION

Keith's Pharmacy Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover represents amounts earned in respect of prescription income, over the counter sales along with professional services income .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 and value added tax is rec and is recognised on sale of goods or the dispensing of a prescription in the period to which the revenue relates.

Interest and other income

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Intangible assets

The difference between amounts paid on the acquisition of a business and the fair value of its identifiable assets and liabilities is capitalised as an intangible asset as the retail pharmacy licence.In the opinion of the directors the intangible asset represents the value of future cashflow to be generated from the license to operate the pharmacy. The pharmacy licence is amortised over 20 years and is subject to an annual impairment review by the director.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% - 20% straight line

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 Income Statement, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Pharmacy

licence

£

COST

At 1st April 2024

and 31st March 2025

455,300

AMORTISATION

At 1st April 2024

153,846

Amortisation for year

22,765

At 31st March 2025

176,611

NET BOOK VALUE

At 31st March 2025

278,689

At 31st March 2024

301,454

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

26,450

Additions

3,237

At 31st March 2025

29,687

DEPRECIATION

At 1st April 2024

11,783

Charge for year

4,185

At 31st March 2025

15,968

NET BOOK VALUE

At 31st March 2025

13,719

At 31st March 2024

14,667

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

75,882

75,538

Other debtors

11,770

27,462

87,652

103,000

Amounts falling due after more than one year:

Other debtors

245,272

-

Aggregate amounts

332,924

103,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,154

-

Trade creditors

89,437

84,747

Taxation and social security

8,360

17,293

Other creditors

71,382

101,384

178,333

203,424

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

210,005

-

Other creditors

225,000

250,000

435,005

250,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

219,159

-

The bank loan is secured on assets of the company.

10.	OTHER FINANCIAL COMMITMENTS

The company has given an omnibus guarantee and set-off agreement in respect of borrowings of Kpharm Enterprises Limited. At 31st March 2025 the potential liability of the company under the arrangement was £437,059.

The company has future operating lease commitments of £11,000 (2024: £79,749) of which £11,000 (2024: £11,000) falls due for payment within one year.

11.	RELATED PARTY DISCLOSURES

Included in other debtors is a loan of £245,742 to Kpharm Enterprises Limited, The loan is interest free. L.Keith & A Yeung are directors of both companies and Kpharm Enterprises Limited is owned by L Keith and A Yeung.