ACCOUNTS - Final Accounts preparation

Registered number: 10627427

GMG PHARMACY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

GMG PHARMACY LIMITED

REGISTERED NUMBER: 10627427

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		370,761		367,732
			370,761		367,732
Current assets
Stocks		30,617		-
Debtors: amounts falling due within one year	5	23,616		9,934
Cash at bank and in hand	6	4,679		9,709
		58,912		19,643
Creditors: amounts falling due within one year	7	(407,933)		(397,143)
Net current liabilities			(349,021)		(377,500)
Total assets less current liabilities			21,740		(9,768)

Net assets/(liabilities)			21,740		(9,768)

Page 1

GMG PHARMACY LIMITED

REGISTERED NUMBER: 10627427

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	100	100
Profit and loss account	21,640	(9,868)
	21,740	(9,768)

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 statement of income and retained earnings 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 by:

A K Ghosh

Director

Date: 15 December 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

GMG PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

The entity is a private company limited by shares, which is incorporated under the Companies Act 2006
and registered in England and Wales. The registered office is Ghosh Medical Group, Rodney Street, Liverpool, Merseyside, L1 9ED and the company number is 10627427.
These financial statements present information about the company as an individual undertaking. The
principal activity of the company is that of general medical practice activities.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

GMG PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

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.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

GMG PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Short-term leasehold property	-	10%
				Plant and machinery	-	10%

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

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.

2.11

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 1).

Page 5

GMG PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Short-term leasehold property	Plant and machinery	Total
	£	£	£
Cost or valuation
At 1 April 2024	368,711	-	368,711
Additions	-	4,500	4,500
At 31 March 2025	368,711	4,500	373,211
Depreciation
At 1 April 2024	979	-	979
Charge for the year on owned assets	1,021	450	1,471
At 31 March 2025	2,000	450	2,450
Net book value
At 31 March 2025	366,711	4,050	370,761
At 31 March 2024	367,732	-	367,732

Debtors

					2025	2024
					£	£


Trade debtors	668	1,308
Other debtors	22,948	8,626
	23,616	9,934

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	4,679	9,709
	4,679	9,709

Page 6

GMG PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	25,284	19,744
Corporation tax	2,268	-
Other taxation and social security	1,128	1,069
Other creditors	379,040	376,330
Accruals and deferred income	213	-
	407,933	397,143

8.	Pension commitments

The Company pays into personal pension plans. The assets of the plans are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the plans and amounted to £659 (2024 - £856). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors.

Related party transactions

Amounts were owed to A. K. and S. Ghosh, directors, during the year totalling £325,948 (2024 - £320,309 owed by) which is still outstanding at the year end.
An amount of £53,090 (2024 - £55,820) is owed to Ghosh Medical Group Limited at the year end. Ghosh Medical Group Limited is a company under common control.
An amount of £1,930 (2024 - £Nil) is owed from Ghosh Healthcare Ltd at the year end. Ghosh Healthcare Ltd is a company under common control.
An amount of £6,720 (2024 - £Nil) is owed from GMG (IOM) Ltd at the year end. GMG (IOM) Ltd is a company under common control.

10.	Controlling party

The company is under the control of the directors.

Page 7