Financial Statements
For the year ended 30 April 2025
Registered number: NI045609
Company Information
Contents
Strategic report
For the year ended 30 April 2025
The directors present the strategic report for the year ended 30 April 2025.
The principal activity of the Company is dispensing chemist in specialised stores.
Dividends of £Nil were declared during the year (2024 - £Nil). The directors are satisfied with the results for the year under review, which were achieved by maximising core efficiencies despite ongoing funding challenges within the pharmacy sector.
The Company uses various basic financial instruments these include loans, cash and various items, such as trade debtors and trade creditors that arise from its operations. The main purpose of these financial instruments is to raise finance for the Company's operations.
The existence of these financial instruments exposes the Company to a number of financial risks, which are described in more detail below.
The directors consider that the principal risks and uncertainties faced by the Company are in the following categories:
Competition Risk:
The directors of the Company manage competition risk through close attention to customer service levels and product innovation.
Financial Risk:
The Company has budgetary and financial reporting procedures, supported by appropriate key performance indicators to manage credit, liquidity and other financial risk.
People in our business
The continued success of the business has been achieved by the people working in it. There are many long serving members of staff and the relatively low turnover of personnel reflects the general policy of providing good terms and conditions of employment while dealing with staff as well as other stakeholders in the business, in a fair and consistent manner. Their continued loyalty and hard work is much appreciated.
The existence of these financial instruments exposes the Company to a number of financial risks, which are described in more detail below.
The directors consider that the principal risks and uncertainties faced by the Company are in the following categories:
Competition Risk:
The directors of the Company manage competition risk through close attention to customer service levels and product innovation.
Financial Risk:
The Company has budgetary and financial reporting procedures, supported by appropriate key performance indicators to manage credit, liquidity and other financial risk.
People in our business
The continued success of the business has been achieved by the people working in it. There are many long serving members of staff and the relatively low turnover of personnel reflects the general policy of providing good terms and conditions of employment while dealing with staff as well as other stakeholders in the business, in a fair and consistent manner. Their continued loyalty and hard work is much appreciated.
Key performance indicators used by management include turnover which has increased from £94.2m to £96.9m and gross profit margin which has increased from 31.9% to 33.7% during the year.
The Company has net current assets of £28,639,857 (2024: £24,436,073).
The Company has net current assets of £28,639,857 (2024: £24,436,073).
Page 1
Strategic report (continued)
For the year ended 30 April 2025
From the perspective of the Directors, the matters for consideration under section 172 of the Companies Act 2006(“s172”) have been considered to an appropriate extent by the Company. Such consideration is included in the statements set out below, noting the Directors’ duty under s172 to act in good faith to promote the success of the Company for the benefit of its shareholders but having regard amongst other matters to the following:
∙the likely consequences of any decision in the long term;
∙the interests of the Company’s employees;
∙the need to foster the Company’s business relationships with customers and others;
∙the impact of the Company’s operations on the community and the environment;
∙the desirability of the Company maintaining a reputation for high standards of business conduct; and
∙the need to act fairly as between members of the Company.
For the Company, compliance is one of the cornerstone values and forms the basis for all decisions and activities. It is the key to integrity in conducting business. The Directors are committed to ensuring that all business is carried out in full accordance with the law as well as internal rules and principles.
The Board of Directors of the Company, both individually and together, confirmed that they have acted in the way they consider, in good faith, would be most likely to promote success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in Section 172(1) (a-f) of the Act) in the decisions taken during the year ended 30 April 2024. The following paragraphs summarise how the directors fulfil their duties:
The Board of Directors of the Company, both individually and together, confirmed that they have acted in the way they consider, in good faith, would be most likely to promote success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in Section 172(1) (a-f) of the Act) in the decisions taken during the year ended 30 April 2024. The following paragraphs summarise how the directors fulfil their duties:
∙As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner.
∙As the Board of Directors, we are committed to openly engage with our shareholders. It is important to us that shareholders understand our strategy and objectives, so these must be clearly communicated, feedback heard and issues or questions raised properly considered.
∙As our services provided grow, our risk environment also becomes more complex. It is therefore, important that we effectively identify, evaluate, manage and mitigate the risks the Company faces. For details of our principal risks and uncertainties, please see previous paragraphs of our company strategic report.
∙Our employees are vital to the services provided by the Company. We aim to be a responsible employer in our approach to the pay and benefits for our employees. For our business to succeed, we need to manage our employees’ performance and develop talent while ensuring the company operates as efficiently as possible. The health and safety of our employees is very important to us.
∙In order to grow our business, we need to develop and maintain strong business relationships. We value all of our suppliers and customers.
This report was approved by the board on 10 December 2025 and signed on its behalf.
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Directors' report
For the year ended 30 April 2025
The directors present their report and the financial statements for the year ended 30 April 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £3,446,744 (2024 - £423,561).
Dividends of £Nil (2024 - £Nil) were declared in the year.
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Directors' report (continued)
For the year ended 30 April 2025
The directors who served during the year were:
The directors intend to continue the management policies of innovation and development.
During the year, the policy of providing employees with information about the Company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the Company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas.
Our strategy prioritises growth and expansion of services. We continue to target new customers into the Company. To do this, we have developed and nurtured strong customer relationships.
We value all of our suppliers and have multi-year contracts in place with a number of our key suppliers.
We value all of our suppliers and have multi-year contracts in place with a number of our key suppliers.
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Directors' report (continued)
For the year ended 30 April 2025
Intensity measurement
We have chosen the metric gross global scope 1 and 2 emissions in tonnes of CO2e per £m sales revenue as this is a common business metric for our industry sector.
Energy efficient action
In the period covered by the report the Company has installed further LED lighting and replaced air conditioning systems which is expected to result in further savings in energy over the next number of years. We also set targets, increased awareness and are actively involving staff in reducing energy consumption. These actions were top recommendations from our 2021 ESOS Audit.
Methodologies used
We have followed the 2025 UK government environmental reporting guidance and we have used 2025 UK Government's GHG conversion factors for company reporting.
We have chosen the metric gross global scope 1 and 2 emissions in tonnes of CO2e per £m sales revenue as this is a common business metric for our industry sector.
Energy efficient action
In the period covered by the report the Company has installed further LED lighting and replaced air conditioning systems which is expected to result in further savings in energy over the next number of years. We also set targets, increased awareness and are actively involving staff in reducing energy consumption. These actions were top recommendations from our 2021 ESOS Audit.
Methodologies used
We have followed the 2025 UK government environmental reporting guidance and we have used 2025 UK Government's GHG conversion factors for company reporting.
Under Schedule 7.1A of 'Large and Medium-Sized Companies and Groups (Accounting and Reporting) Regulations 2008', the Company has elected to disclose the following directors' report information in the Strategic Report:
∙Principal activity and Business review;
∙Principal risks and uncertainties;
∙Financial key performance indicators; and
∙S172 Reporting.
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Directors' report (continued)
For the year ended 30 April 2025
There have been no significant events impacting the Company since the financial year end.
The auditor, Grant Thornton (NI) LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 10 December 2025 and signed on its behalf.
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Independent auditor's report to the members of N & R Gordon Ltd
We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.
Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.
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Independent auditor's report to the members of N & R Gordon Ltd (continued)
Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report and the Strategic Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' report and the Strategic Report for the year for which the financial statements are prepared is consistent with the financial statements, and
∙the Directors' report and the Strategic Report have been prepared in accordance with applicable legal requirements.
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Independent auditor's report to the members of N & R Gordon Ltd (continued)
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Independent auditor's report to the members of N & R Gordon Ltd (continued)
significant transactions, or incomplete/inaccurate disclosures in the financial statements.
In response to these principal risks, our audit procedures included but were not limited to:
The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.
This report is made solely to the Company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants &
Statutory Auditors
Date:
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Statement of comprehensive income
For the year ended 30 April 2025
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Balance sheet
As at 30 April 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 December 2025 .
The notes on pages 14 to 29 form part of these financial statements.
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Statement of changes in equity
For the year ended 30 April 2025
Statement of changes in equity
For the year ended 30 April 2024
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Notes to the financial statements
For the year ended 30 April 2025
N & R Gordon Ltd is a private company, limited by shares and incorporated in Northern Ireland. The registered office is 74 Scarva Road, Banbridge, BT32 3QD.
2.Principal accounting policies
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Ireland":
This information is included in the consolidated financial statements of Gordons Chemists Holdings (Northern Ireland) Limited as at 30 April 2025, and these financial statements can be obtained from the registrar of companies in Belfast.
The following principal accounting policies have been applied:
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.
The directors are of the opinion that the goodwill has a maximum useful life of 9 years.
At each reporting date the Company assesses whether there is any indication of impairment. If such impairment exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (continued)
Functional and presentation currency
Transactions and balances
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (continued)
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (continued)
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.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (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 and reducing balance methods.
Depreciation is provided on the following basis:
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.
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (continued)
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 Statement of Comprehensive Income.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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Notes to the financial statements
For the year ended 30 April 2025
2.Principal accounting policies (continued)
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
a) Determining and reassessing the residual value and useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and physical condition of the assets. At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the Statement of comprehensive income. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the Statement of comprehensive income.
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Notes to the financial statements
For the year ended 30 April 2025
3.Judgements in applying accounting policies (continued)
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling prices in the ordinary course of business, less the estimated costs necessary to make the sale. The future realisation of these inventories may be affected by future technology or other market driven changes that may reduce future selling prices.
c) Carrying value of goodwill
The Company establishes a reliable estimate of the useful life of goodwill arising on business combinations. This estimate is based on a variety of factors such as expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed to, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.
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Notes to the financial statements
For the year ended 30 April 2025
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Notes to the financial statements
For the year ended 30 April 2025
There were no factors that may affect future tax charges.
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Notes to the financial statements
For the year ended 30 April 2025
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Notes to the financial statements
For the year ended 30 April 2025
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Notes to the financial statements
For the year ended 30 April 2025
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The country of incorporation of Omapharm Limited is Northern Ireland.
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Notes to the financial statements
For the year ended 30 April 2025
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Notes to the financial statements
For the year ended 30 April 2025
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Called up share capital
This represents the nominal value of shares that have been issued.
Profit & loss account
This includes all current and prior period retained profits and losses.
Profit & loss account
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The cost of contributions in the period was £331,786 (2024: £310,817 ). At the year end, there is £79,251 (2024: £78,251 ) accrued in respect of pension contributions.
Page 28
Notes to the financial statements
For the year ended 30 April 2025
The ultimate controlling parties of Gordons Chemists Holdings (Northern Ireland) Ltd are deemed to be its
The smallest and largest group which the results of N & R Gordon Ltd are consolidated is that headed by Gordons Chemists Holdings (Northern Ireland) Ltd. Copies of the group financial statements are available from the registrar of companies in Belfast.
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