Fullarton Pharmacy Limited iXBRL

Company Registration Number: NI049339

Fullarton Pharmacy Limited

Directors' Report and Unaudited Financial Statements

for the financial year ended 30 April 2025

Fullarton Pharmacy Limited

DIRECTORS AND OTHER INFORMATION


Directors	Adam Fullarton-Healey
	Carole Anne Fullarton-Healey


Company Secretary	Adam Fullarton-Healey


Company Registration Number	NI049339


Registered Office	16 Mount Charles
	Belfast
	BT7 1NZ


Business Address	93 Galwally Avenue
	Belfast
	BT8 7AJ


Accountants	Muldoon & Co Chartered Accountants & Registered Au
	16 Mount Charles
	Belfast
	BT7 1NZ


Bankers	Bank of Ireland
	4-8 High Street
	Belfast
	BT1 2BA

Fullarton Pharmacy Limited

DIRECTORS' REPORT

for the financial year ended 30 April 2025

The directors present their report and the unaudited financial statements for the financial year ended 30 April 2025.

Principal Activity

The principal activity of the company is that of retail pharmacy.

Directors

The directors who served during the financial year are as follows:

Adam Fullarton-Healey

Carole Anne Fullarton-Healey

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Adam Fullarton-Healey

Director

31 March 2026

Fullarton Pharmacy Limited

STATEMENT OF DIRECTORS' RESPONSIBILITIES

for the financial year ended 30 April 2025

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

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 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.

On behalf of the board

___________________________

Adam Fullarton-Healey

Director

31 March 2026

Fullarton Pharmacy Limited

Company Registration Number: NI049339

STATEMENT OF FINANCIAL POSITION

as at 30 April 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Intangible assets

152,520

190,339

Property, plant and equipment

18,966

23,707

─────────

Non-Current Assets

171,486

214,046

─────────

Current Assets

Stocks

194,465

184,465

Debtors

237,239

215,793

Cash and cash equivalents

19,328

33,734

─────────

451,032

433,992

─────────

Creditors: amounts falling due within one year

(246,774)

(183,890)

─────────

Net Current Assets

204,258

250,102

─────────

Total Assets less Current Liabilities

375,744

464,148

Creditors:

amounts falling due after more than one year

(432,236)

(459,475)

Provisions for liabilities

(3,603)

(4,504)

─────────

Net (Liabilities)/Assets

(60,095)

169

═════════

Capital and Reserves

Called up share capital

Retained earnings

(60,097)

167

─────────

Equity attributable to owners of the company

(60,095)

169

═════════

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 company has taken advantage of the exemption under section 444 not to file the Income Statement.

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 31 March 2026 and signed on its behalf by




________________________________
Adam Fullarton-Healey
Director

Fullarton Pharmacy Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 30 April 2025

General Information

Fullarton Pharmacy Limited is a company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 30 April 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

20% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was:

2025

2024

Number

Number

Employees

═════════


4.	Intangible assets

		Goodwill	Total
		£	£
	Cost
	At 1 May 2024	756,372	756,372
		─────────	─────────

	At 30 April 2025	756,372	756,372
		─────────	─────────
	Amortisation
	At 1 May 2024	566,033	566,033
	Charge for financial year	37,819	37,819
		─────────	─────────
	At 30 April 2025	603,852	603,852
		─────────	─────────
	Net book value
	At 30 April 2025	152,520	152,520
		═════════	═════════
	At 30 April 2024	190,339	190,339
		═════════	═════════


5.	Property, plant and equipment
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 May 2024	127,700	127,700
		─────────	─────────

	At 30 April 2025	127,700	127,700
		─────────	─────────
	Depreciation
	At 1 May 2024	103,993	103,993
	Charge for the financial year	4,741	4,741
		─────────	─────────
	At 30 April 2025	108,734	108,734
		─────────	─────────
	Net book value
	At 30 April 2025	18,966	18,966
		═════════	═════════
	At 30 April 2024	23,707	23,707
		═════════	═════════


6.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	194,465	184,465
		═════════	═════════


7.	Debtors	2025	2024
		£	£

	Trade debtors	111,618	107,919
	Directors' current accounts (Note 13)	113,070	96,328
	Taxation (Note 10)	10,447	9,644
	Prepayments and accrued income	2,104	1,902
		─────────	─────────
		237,239	215,793
		═════════	═════════

Creditors

2025

2024

Amounts falling due within one year

Bank overdrafts

4,871

7,040

Bank Loans

20,745

14,266

Trade creditors

145,642

107,860

Taxation (Note 10)

65,304

48,952

Accruals:

Pension accrual

581

547

Other accruals

9,631

5,225

─────────

246,774

183,890

═════════

Bank loans are secured upon assets and undertakings of the company, assignment of key man policies and leases in relation to specific properties.


9.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Bank loan	432,236	459,475
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 8)	25,616	21,306
	Repayable between one and two years	20,745	20,321
	Repayable between two and five years	64,773	44,829
	Repayable in five years or more	346,718	394,325
		─────────	─────────
		457,852	480,781
		═════════	═════════


10.	Taxation	2025	2024
		£	£

	Debtors:
	VAT	10,447	9,644
		═════════	═════════
	Creditors:
	Corporation tax	29,111	35,029
	PAYE / NI	36,193	13,923
		─────────	─────────
		65,304	48,952
		═════════	═════════

11.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

4,504

4,504

4,983

Charged to profit and loss

(901)

(901)

(479)

─────────

At financial year end

3,603

4,504

═════════

12.

Pension costs - defined contribution

The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £5,264 (2024 £4,316).

13.

Directors' advances, credits and guarantees

During the year ended 30th April 2025 the company loaned the Directors £35,742 (2024: £52,814), £113,071 was remaining at the year end (2024: £96,328).