PRX PHARMACY LTD


Directors	PATEL, Mayurikabahen Milan
	PATEL, Milan


Registered Address	2nd Floor Grove House
	55 Lowlands Road
	Harrow
	HA1 3AW


Registered Number	13993382 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		634,919		710,073
Tangible assets	4		25,013		24,957
			659,932		735,030
Current assets
Stocks	5	82,424		80,000
Debtors	6	366,890		197,900
Cash at bank and on hand		146,679		5,856
		595,993		283,756
Creditors amounts falling due within one year	7	(785,152)		(600,091)
Net current assets (liabilities)			(189,159)		(316,335)
Total assets less current liabilities			470,773		418,695
Creditors amounts falling due after one year	8		(457,459)		(438,071)
Net assets			13,314		(19,376)
Capital and reserves
Called up share capital			100		100
Profit and loss account			13,214		(19,476)
Shareholders' funds			13,314		(19,376)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2025, and are signed on its behalf by:

PATEL, Milan
Director
Registered Company No. 13993382

PRX PHARMACY LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Current taxation
	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.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Goodwill arising on acquisitions, represents any excess of the Fair value of the consideration given over the fair value of the identifiable assets acquired. Goodwill is initially recognised at cost. After initial recognition, they are measured at cost less any accumulated amortization and any accumulated impairment losses. Goodwill are are being amortized evenly over their estimated useful life of 10 years.

Intangible assets

Goodwill arising on acquisitions, represents any excess of the Fair value of the consideration given over the fair value of the identifiable assets acquired. Goodwill is initially recognised at cost. After initial recognition, they are measured at cost less any accumulated amortization and any accumulated impairment losses.

Goodwill are are being amortized evenly over their estimated useful life of 10 years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	5
	Fixtures and fittings	5
	Office Equipment	5

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Financial instruments
	The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	11		6

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	751,537	751,537
At 31 March 25	751,537	751,537
Amortisation and impairment
At 01 April 24	41,464	41,464
Charge for year	75,154	75,154
At 31 March 25	116,618	116,618
Net book value
At 31 March 25	634,919	634,919
At 31 March 24	710,073	710,073

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	9,833	14,292	2,330	26,455
Additions	-	-	5,786	5,786
At 31 March 25	9,833	14,292	8,116	32,241
Depreciation and impairment
At 01 April 24	968	530	-	1,498
Charge for year	1,967	2,752	1,011	5,730
At 31 March 25	2,935	3,282	1,011	7,228
Net book value
At 31 March 25	6,898	11,010	7,105	25,013
At 31 March 24	8,865	13,762	2,330	24,957

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	82,424	80,000
Total	82,424	80,000

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	309,135	165,319
Other debtors	29,957	28,789
Prepayments and accrued income	27,798	3,792
Total	366,890	197,900

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	88,700	95,516
Bank borrowings and overdrafts	19,589	58,565
Taxation and social security	44,398	10,741
Other creditors	632,465	431,540
Accrued liabilities and deferred income	-	3,729
Total	785,152	600,091

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	457,459	438,071
Total	457,459	438,071


	Included within creditors falling due within one year and creditors falling due after more than one year is £477,048 (2024: £496,636) in respect of a loan from Unity bank. This loan is secured by a fixed and floating charge over present and future assets of the company.

9.	Other commitments
	LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £71,500 (2024: 71,500)

10.	Related party transactions
	Included in other creditors falling due within one year is an amount of £201,093 (2024: £358,930) due to the director, Mr M Patel.