EVEREST PHARMACY - Filleted accounts

Registered number

06964906

EVEREST PHARMACY

Filleted Accounts

31 August 2025

EVEREST PHARMACY
Registered number:		06964906
Balance Sheet
as at 31 August 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		1,263,263			1,110,434
Tangible assets	4		1,122,107			1,103,930
Investments	5		73,000			73,000
			2,458,370			2,287,364

Current assets
Stocks		321,327			281,261
Debtors	6	466,954			589,435
Cash at bank and in hand		382,449			365,589
		1,170,730			1,236,285

Creditors: amounts falling due within one year	7	(1,034,926)			(1,100,952)

Net current assets			135,804			135,333

Total assets less current liabilities			2,594,174			2,422,697

Creditors: amounts falling due after more than one year	8		(1,568,132)			(1,357,760)



Net assets			1,026,042			1,064,937

Capital and reserves
Called up share capital			105			105
Profit and loss account			1,025,937			1,064,832

Shareholders' funds			1,026,042			1,064,937

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




WAQQASS SHEIKH
Director
Approved by the board on 26 May 2026

EVEREST PHARMACY
Notes to the Accounts
for the year ended 31 August 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
	The company has a wholesale license, however the margins are considerably low, which reduces the weighted average margin.


	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:



	Plant and machinery			over 10 years
	Fixtures, fittings, tools and equipment			over 10 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					38		39

3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 September 2024							1,388,042
	Additions							233,928
	At 31 August 2025							1,621,970

	Amortisation
	At 1 September 2024							277,608
	Provided during the year							81,099
	At 31 August 2025							358,707

	Net book value
	At 31 August 2025							1,263,263
	At 31 August 2024							1,110,434


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2024	435,787		1,448,513		128,510		2,012,810
	Additions	47,500		24,068		12,014		83,582
	At 31 August 2025	483,287		1,472,581		140,524		2,096,392

	Depreciation
	At 1 September 2024	181,999		649,410		77,471		908,880
	Charge for the year	13,654		42,908		8,843		65,405
	At 31 August 2025	195,653		692,318		86,314		974,285

	Net book value
	At 31 August 2025	287,634		780,263		54,210		1,122,107
	At 31 August 2024	253,788		799,103		51,039		1,103,930





5	Investments
Other
investments
£
	Cost
	Additions (Everest Barlow)							-

	At 31 August 2025							73,000


6	Debtors					2025		2024
£							£

	Trade debtors					381,445		426,859
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					-		79,210
	Other debtors (VAT)					85,509		83,366
						466,954		589,435


7	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					814,410		956,691
	Taxation and social security costs					96,438		58,448
	Other creditors					124,078		85,813
						1,034,926		1,100,952


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans (RX Bridge)					932,444		952,000
	Obligations under finance lease and hire purchase contracts					135,688		195,688
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					195,000		-
	Other creditors					305,000		210,072
						1,568,132		1,357,760

9	Pension commitments

	The company operates a Workplace Pension Schemes, which is open for all eligible and entitled employees

10	Controlling party

	Mr Waqqass Sheikh and Mrs Rizwana Sheikh have ultimate control by virtue of their holding a majority of the issued share capital in the company.

11	Other information
	EVEREST PHARMACY is a private company limited by shares and incorporated in England. Its registered office is:
	117B WITHINGTON ROAD,
	MANCHESTER
	M16 8EE