REGISTERED NUMBER: 10025982 (England and Wales)

G & C PHARMA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms G E Davies Jones

Mrs C Harris

REGISTERED OFFICE:

High Street Pharmacy

88 High Street

Barry

Vale of Glamorgan

CF62 7DX

REGISTERED NUMBER:

10025982 (England and Wales)

FIXED ASSETS

Intangible assets

4

216,967

260,361

Tangible assets

5

213,434

224,966

Investments

6

2,151,917

2,151,917

2,582,318

2,637,244

CURRENT ASSETS

Stocks

7

51,278

96,769

Debtors

8

355,627

372,312

Cash at bank and in hand

132,024

66,647

538,929

535,728

CREDITORS

Amounts falling due within one year

9

1,262,223

1,231,811

NET CURRENT LIABILITIES

(723,294

)

(696,083

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,859,024

1,941,161

CREDITORS

Amounts falling due after more than one year

10

(783,090

)

(921,580

)

PROVISIONS FOR LIABILITIES

13

(16,949

)

(19,742

)

NET ASSETS

1,058,985

999,839

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

1,058,885

999,739

SHAREHOLDERS' FUNDS

1,058,985

999,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

Ms G E Davies Jones - Director

1.	STATUTORY INFORMATION

G & C Pharma Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Group accounts

In preparing these financial statements advantage has been taken of the exemptions conferred by section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the grounds that the group is entitled to the benefit of those exemptions as a small size group. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:-

Sale of goods:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer. The amount revenue can be measured reliably, it is probable that the economic benefit associated with the transaction.

NHS income:

Revenue from NHS services, including prescriptions and other related services, is recognised when the pharmacy has provided the service and is entitled to receive payment. This includes NHS prescriptions dispensed, which are recorded as turnover once verified and submitted for reimbursement, and any NHS income for commissioned services, which is recognised when the service obligation to the NHS is met.

Rental income is recognised at the date the rent is received.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lives:

Plant and machinery - 20% on reducing balance

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises purchase cost and directly attributable costs incurred in bringing the stock to its present location and condition. Net realisable value represents the estimated selling price less all estimated costs to sell. Provision is made for obsolete, slow-moving or damaged stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments '.

Financial instruments are recognised 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 trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

542,421

AMORTISATION

At 1 October 2024

282,060

Charge for year

43,394

At 30 September 2025

325,454

NET BOOK VALUE

At 30 September 2025

216,967

At 30 September 2024

260,361

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2024

140,000

34,698

97,039

Additions

-

2,351

2,991

At 30 September 2025

140,000

37,049

100,030

DEPRECIATION

At 1 October 2024

-

17,730

35,383

Charge for year

-

3,864

12,929

At 30 September 2025

-

21,594

48,312

NET BOOK VALUE

At 30 September 2025

140,000

15,455

51,718

At 30 September 2024

140,000

16,968

61,656

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2024

7,495

11,980

291,212

Additions

-

4,109

9,451

At 30 September 2025

7,495

16,089

300,663

DEPRECIATION

At 1 October 2024

5,124

8,009

66,246

Charge for year

592

3,598

20,983

At 30 September 2025

5,716

11,607

87,229

NET BOOK VALUE

At 30 September 2025

1,779

4,482

213,434

At 30 September 2024

2,371

3,971

224,966

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

and 30 September 2025

2,151,917

NET BOOK VALUE

At 30 September 2025

2,151,917

At 30 September 2024

2,151,917

7.

STOCKS

2025

2024

£

£

Stocks

51,278

96,769

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

334,108

347,687

Other debtors

21,519

24,625

355,627

372,312

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

167,805

200,855

Trade creditors

325,821

274,211

Amounts owed to group undertakings

471,172

417,905

Taxation and social security

34,416

43,444

Other creditors

263,009

295,396

1,262,223

1,231,811

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

783,090

917,580

Other creditors

-

4,000

783,090

921,580

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

111,870

242,108

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

21,400

21,400

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

950,895

1,118,435

The company's bank borrowings are secured by a fixed and floating charge over the company's assets and are supported by personal guarantees provided by the directors.

13.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

16,949

19,742

Deferred

tax

£

Balance at 1 October 2024

19,742

Decelerated capital allowances

(2,793

)

Balance at 30 September 2025

16,949

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1.00

100

100

15.	TRANSACTIONS WITH DIRECTORS

As at 30 September 2025, amounts totalling £251,100 (2024: £266,964) were owed to the directors and are included within creditors falling due within one year. The balances are interest-free and repayable on demand.

16.	RELATED PARTY DISCLOSURES