Registration number: NI010974

Randalstown Pharmacies Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Randalstown Pharmacies Limited

Company Information

Directors

Mr Brendan Etherson Mrs Edel Etherson Mr Jason Murphy

Company secretary

Mr Brendan Etherson

Registered office

5 Neillsbrook Road Randalstown County Antrim BT41 3AE

Accountants

McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS

Randalstown Pharmacies Limited

(Registration number: NI010974)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	28,582
Tangible assets	5	113,841	122,920
		113,841	151,502
Current assets
Stocks	6	236,927	309,803
Debtors	7	1,029,526	836,472
Cash at bank and in hand		49,790	84,814
		1,316,243	1,231,089
Creditors: Amounts falling due within one year	8	(339,056)	(366,651)
Net current assets		977,187	864,438
Total assets less current liabilities		1,091,028	1,015,940
Provisions for liabilities		(22,328)	(23,999)
Net assets		1,068,700	991,941
Capital and reserves
Called up share capital		6,150	6,150
Share premium reserve		651,450	651,450
Profit and loss account		411,100	334,341
Total equity		1,068,700	991,941

For the financial 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.

Directors' responsibilities:

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

......................................... Mr Brendan Etherson Company secretary and director

......................................... Mrs Edel Etherson Director

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
5 Neillsbrook Road
Randalstown
County Antrim
BT41 3AE

These financial statements were authorised for issue by the Board on 17 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% straight line
Improvements to property	2% straight line
Fixtures, fittings and equipment	15% reducing balance
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2	Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2	Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and investments in non-puttable shares.
 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
 Impairment
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 profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and best estimate and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, 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.

Financial assets and liabilities are offset and the net amount reported in the balance sheet date when there is an 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2024 - 32).

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	623,600	623,600
At 31 March 2025	623,600	623,600
Amortisation
At 1 April 2024	595,018	595,018
Amortisation charge	28,582	28,582
At 31 March 2025	623,600	623,600
Carrying amount
At 31 March 2025	-	-
At 31 March 2024	28,582	28,582

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2024	60,436	205,525	17,200	119,980	403,141
Additions	-	-	12,000	-	12,000
Disposals	-	-	(9,900)	-	(9,900)
At 31 March 2025	60,436	205,525	19,300	119,980	405,241
Depreciation
At 1 April 2024	30,706	184,379	11,758	53,378	280,221
Charge for the year	1,208	3,172	3,577	9,990	17,947
Eliminated on disposal	-	-	(6,768)	-	(6,768)
At 31 March 2025	31,914	187,551	8,567	63,368	291,400
Carrying amount
At 31 March 2025	28,522	17,974	10,733	56,612	113,841
At 31 March 2024	29,730	21,146	5,442	66,602	122,920

Included within the net book value of land and buildings above is £12,708 (2024 - £13,387) in respect of freehold land and buildings and £15,814 (2024 - £16,343) in respect of long leasehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	236,927	309,803

7

Debtors

	2025 £	2024 £
Trade debtors	225,541	237,065
Prepayments	5,977	5,281
Other debtors	798,008	594,126
	1,029,526	836,472

Randalstown Pharmacies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

	Note	2025 £	2024 £
Due within one year
Trade creditors		309,850	309,361
Corporation tax liability		-	16,144
Taxation and social security		11,981	8,579
Other creditors		3,676	2,174
Accruals and deferred income		13,549	30,393
		339,056	366,651

9	Related party transactions

During the year Mr Brendan Etherson supplied services to the company to the value of £20,700 (2024 - £10,350). At the year end Mr Etherson was owed £NIL (2024 - £10,350) by the company.

Loans to related parties

2025	Parent £	Total £
At start of period	534,393	534,393
Advanced	187,996	187,996
At end of period	722,389	722,389

2024	Parent £	Total £
At start of period	342,184	342,184
Advanced	192,209	192,209
At end of period	534,393	534,393