ACCOUNTS - Final Accounts preparation

OPERATING (LOSS)/PROFIT

The operating (loss)/profit is stated after charging:

Registered number: SC222795

KDP (ABERDEEN) LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

KDP (ABERDEEN) LIMITED

COMPANY INFORMATION

Director	Mr B Arris


Registered number	SC222795


Registered office	96 Victoria Road
	Torry
	Aberdeen
	AB11 9DU


Independent auditors	Sumer Auditco Limited
	Chartered Accountants & Statutory Auditors
	14 City Quay
	Dundee
	DD1 3JA

KDP (ABERDEEN) LIMITED

CONTENTS

	Page
Strategic report	1 - 2
Director's report	3 - 4
Independent auditors' report	5 - 8
Statement of income and retained earnings	9
Statement of financial position	10
Notes to the financial statements	11 - 25

KDP (ABERDEEN) LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

INTRODUCTION

The director presents the Strategic Report for the year ended 31 August 2025.

BUSINESS REVIEW

The director is pleased with the groups financial results. Business and profits continue to grow and the future looks bright for our core business, community pharmacies in Scotland. Company strategy of running and acquiring high volume prescription businesses and selling the lower volume pharmacies in the group with the same fixed overheads is proceeding at a rate as expected. This along with efforts to drive efficiencies within the estate will mean that profits will not be unduly impacted by significantly rising payroll costs brought about mainly by legislative changes.
Plans to restructure the business so that the farm assets can be separated from the pharmacies will be a focus point during the next financial year.

PRINCIPAL RISKS AND UNCERTAINTIES

It is the groups policy that an ongoing and active interest is taken in evaluating and managing risks inherent in operating community pharmacies, the main focus of the group.
The director recognises that the main risks are as follows:
Adequate staff to run the pharmacy - to mitigate this risk the management ensure there are enough qualified staff in the group and an extra pharmacist for contingency. Pharmacies cannot operate without a trained pharmacist on site. The managing director is also a pharmacist so can fit in where required at short notice.
Liquidity risk - liquidity risk reflects the risk that the group will have insufficient reserves to meet the financial liabilities as they fall due. The directors objective is to ensure adequate funding is available within the group to finance the business.
Credit risk - the group assesses the credit risk applicable to customers to ensure the credit is not extended where there is a likelihood of default.
Financial instruments - the groups financial risk management objectives are to ensure sufficient working capital for the group. This is achieved through careful management of cash resources including trade debtors and trade creditors. The use of financial instruments is not material to the assessment of the assets, liabilities, financial position and profit of the group.
Employees - the director pursues a policy of encouraging employees to develop and train so they can reach their full potential in the working environment.

FINANCIAL KEY PERFORMANCE INDICATORS

Key performance indicators used by management include turnover which has decreased from £7,238,513 to £6,958,405 and gross profit margin which has increased to 39% from 36%.

OTHER KEY PERFORMANCE INDICATORS

There are no material non financial key performance indicators.

Page 1

KDP (ABERDEEN) LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

This report was approved by the board on 28 May 2026 and signed on its behalf.

Mr B Arris

Director

Page 2

KDP (ABERDEEN) LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The director presents his report and the financial statements for the year ended 31 August 2025.

Director's responsibilities statement

The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments 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 director is 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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Results and dividends

The loss for the year, after taxation, amounted to £180,089 (2024 - profit £175,327).

Dividends of £240,000 (2024 - £240,000) were received from subsidiary companies and dividends of £53,370 (2024 - £115,000) were paid to the parent company.

Director

The director who served during the year was:

Mr B Arris

Future developments

Management will continue to look for ways to improve efficiencies throughout the business.

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:

∙so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 3

KDP (ABERDEEN) LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Post balance sheet events

Following the period end the company transferred the assets and trade of its farming business with a value of £3,084,944 to KDP (Holdings) Limited.
Following the period end the wholly owned subsidiary RWP Sub Limited sold one pharmacy. The pharmacy in question contributed less than 10% of the profit before tax for the year to 31 August 2025.

Auditors

The auditors, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 28 May 2026 and signed on its behalf.

Mr B Arris

Director

Page 4

KDP (ABERDEEN) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KDP (ABERDEEN) LIMITED

Qualified opinion

We have audited the financial statements of KDP (Aberdeen) Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

Except for the possible effects of the matter described in the Basis for qualified opinion section of our report, in our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 August 2025 and of its loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

Whilst stocktakes were carried out by third party stocktaking firms around the year ends, we have been unable to satisfy ourselves concerning the stock quantities held at 31 August 2024 and 31 August 2025 which are included in the Statement of Financial Position at £361,410 and £468,941 respectively. Consequently we are unable to determine whether any adjustment to this amount, or the cost of sales in the current or previous period is necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Page 5

KDP (ABERDEEN) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KDP (ABERDEEN) LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In respect solely of the limitation on our work relating to stock described above, we have not obtained all the information and explanations that we consider necessary for the purpose of our audit and we were unable to determine whether adequate accounting records have been maintained.

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Director's responsibilities statement set out on page 3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Page 6

KDP (ABERDEEN) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KDP (ABERDEEN) LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 7

KDP (ABERDEEN) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KDP (ABERDEEN) LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Douglas Rae (Senior statutory auditor)

for and on behalf of

Sumer Auditco Limited

Chartered Accountants

Statutory Auditors

14 City Quay

Dundee

DD1 3JA

29 May 2026

Page 8

KDP (ABERDEEN) LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 AUGUST 2025

	2025	2024
	£	£


Turnover	4	6,958,405	7,238,513
Cost of sales		(4,243,728)	(4,593,426)
GROSS PROFIT		2,714,677	2,645,087
Administrative expenses		(2,290,188)	(2,378,110)
Impairment of investments		(513,857)	-
OPERATING (LOSS)/PROFIT		(89,368)	266,977
Income from fixed assets investments		240,000	240,000
Interest receivable and similar income		122	2,626
Interest payable and similar expenses		(221,411)	(288,409)
(LOSS)/PROFIT BEFORE TAX		(70,657)	221,194
Tax on (loss)/profit		(109,432)	(45,867)
(LOSS)/PROFIT AFTER TAX		(180,089)	175,327



Retained earnings at the beginning of the year	6,415,213	6,354,886
(Loss)/profit for the year	(180,089)	175,327
Dividends declared and paid	(53,370)	(115,000)
RETAINED EARNINGS AT THE END OF THE YEAR	6,181,754	6,415,213

The notes on pages 11 to 25 form part of these financial statements.

Page 9

KDP (ABERDEEN) LIMITED

REGISTERED NUMBER: SC222795

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
		£		£

FIXED ASSETS
Intangible assets	14		1,075,303		1,258,876
Tangible assets	15		3,579,998		3,729,775
Investments	16		3,021,898		3,535,755
			7,677,199		8,524,406
CURRENT ASSETS
Stocks	17	468,941		361,410
Debtors: amounts falling due within one year	18	1,953,938		2,183,181
Cash at bank and in hand		482,265		130,571
		2,905,144		2,675,162
Creditors: amounts falling due within one year	19	(1,683,552)		(1,395,782)
NET CURRENT ASSETS			1,221,592		1,279,380
TOTAL ASSETS LESS CURRENT LIABILITIES			8,898,791		9,803,786
Creditors: amounts falling due after more than one year	20		(2,639,675)		(3,279,362)
PROVISIONS FOR LIABILITIES
Deferred tax	21	(75,392)		(106,761)
Other provisions	22	(1,920)		(2,400)
			(77,312)		(109,161)
NET ASSETS			6,181,804		6,415,263

CAPITAL AND RESERVES
Called up share capital	23	50	50
Profit and loss account		6,181,754	6,415,213
		6,181,804	6,415,263

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.

Mr B Arris

Director

The notes on pages 11 to 25 form part of these financial statements.

Page 10

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	GENERAL INFORMATION

KDP (Abereen) Limited is a private company, limited by shares, incorporated in Scotland with registration number SC222795. The registered office is 96 Victoria Road, Torry, Aberdeen, AB11 9DU.
The functional and presentational currency of the Company is GBP sterling (£). The balances reported in the financial statements have been rounded to the nearest pound.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of KDP Holdings Ltd (SC602400) as at 31 August 2025 and these financial statements may be obtained from Companies House.

2.3

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

Page 11

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TURNOVER

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 12

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

CURRENT AND DEFERRED TAXATION

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Heritable property	-	2% straight line on property, 0% on land
Tenants improvements	-	straight line over the life of the lease
Plant and machinery	-	20% straight line
Motor vehicles	-	25% reducing balance
Fixtures and fittings	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.11

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.12

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.13

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Page 14

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.13

FINANCIAL INSTRUMENTS (CONTINUED)

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.

2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Depreciation
Depreciation is provided based on the estimated useful economic life of each class of assets, which is judgement exercised by management. Depreciation is taken to the profit and loss in order to write off the asset over its useful economic life.

TURNOVER

The whole of the turnover and profit before taxation relates to continuing activities and is attributable to the provision of pharmaceutical services.

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	6,958,405	7,238,513
	6,958,405	7,238,513

Page 15

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Depreciation of tangible fixed assets	219,397	213,138
Amortisation of intangible fixed assets	183,573	185,981
(Profit)/loss on sale of tangible fixed assets	(4,269)	5,396

6.	AUDITORS' REMUNERATION
		2025	2024
		£	£

Fees payable to the Company's auditors for the audit of the Company's financial statements

16,000

20,000

Wages and salaries	1,314,002	1,252,948
Social security costs	118,996	100,662
Cost of defined contribution scheme	29,574	236,021
	1,462,572	1,589,631

The average monthly number of employees, including the director, during the year was as follows:

	2025	2024
	No.	No.

Directors	1	1
Staff	55	59

	56	60

Page 16

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

8.	DIRECTOR'S REMUNERATION
		2025	2024
		£	£

Company contributions to defined contribution pension schemes	-	200,000
	-	200,000

During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.

9.	INCOME FROM INVESTMENTS
		2025	2024
		£	£

Dividends received from unlisted investments	(240,000)	(240,000)
	(240,000)	(240,000)

10.	INTEREST RECEIVABLE
		2025	2024
		£	£

	Other interest receivable	122	2,626
		122	2,626

11.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2025	2024
		£	£

Bank interest payable	216,588	288,409
Other interest payable	4,823	-
	221,411	288,409

Page 17

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

CORPORATION TAX
Current tax on profits for the year	140,801	102,611

	DEFERRED TAX
	Origination and reversal of timing differences	(31,369)	(56,744)


	TAX ON (LOSS)/PROFIT	109,432	45,867

(Loss)/profit on ordinary activities before tax

(70,657)

221,194

(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(17,664)	55,299
EFFECTS OF:
Non-tax deductible amortisation of goodwill and impairment	174,358	37,995
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	-	4,392
Capital allowances for year in excess of depreciation	43,040	63,576
Short-term timing difference leading to an increase (decrease) in taxation	(31,369)	(56,744)
Book profit on chargeable assets	1,067	1,349
Dividends from UK companies	(60,000)	(60,000)
TOTAL TAX CHARGE FOR THE YEAR	109,432	45,867

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

The only factors affecting future tax charges are those imposed by HMRC.

Page 18

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13.	DIVIDENDS
		2025	2024
		£	£

	Dividends paid	53,370	115,000
		53,370	115,000

14.	INTANGIBLE ASSETS

		Goodwill
		£
	COST
	At 1 September 2024	2,438,966
	At 31 August 2025	2,438,966
	AMORTISATION
	At 1 September 2024	1,180,090
	Charge for the year on owned assets	183,573
	At 31 August 2025	1,363,663
	NET BOOK VALUE
	At 31 August 2025	1,075,303
	At 31 August 2024	1,258,876

Page 19

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

15.	TANGIBLE FIXED ASSETS

	Heritable property	Tenants improvements	Plant & machinery	Motor vehicles	Fixtures & fittings	Total
	£	£	£	£	£	£
COST OR VALUATION
At 1 September 2024	3,453,015	311,696	439,301	48,224	375,533	4,627,769
Additions	-	45,242	19,330	9,319	-	73,891
Disposals	-	-	(9,246)	(22,104)	(4,525)	(35,875)
At 31 August 2025	3,453,015	356,938	449,385	35,439	371,008	4,665,785
DEPRECIATION
At 1 September 2024	163,066	191,040	301,223	37,140	205,525	897,994
Charge for the year on owned assets	23,533	27,466	89,870	4,326	74,202	219,397
Disposals	-	-	(8,781)	(19,006)	(3,817)	(31,604)
At 31 August 2025	186,599	218,506	382,312	22,460	275,910	1,085,787
NET BOOK VALUE
At 31 August 2025	3,266,416	138,432	67,073	12,979	95,098	3,579,998
At 31 August 2024	3,289,949	120,656	138,078	11,084	170,008	3,729,775

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Heritable property	3,266,416	3,289,949
Long leasehold	138,432	120,656
	3,404,848	3,410,605

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Plant and machinery	-	15,113
	-	15,113

Page 20

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

16.	FIXED ASSET INVESTMENTS

	Investments in subsidiary companies	Trade investments	Total
	£	£	£
COST OR VALUATION
At 1 September 2024	3,535,555	200	3,535,755
At 31 August 2025	3,535,555	200	3,535,755
IMPAIRMENT
Charge for the period	513,857	-	513,857
At 31 August 2025	513,857	-	513,857
NET BOOK VALUE
At 31 August 2025	3,021,698	200	3,021,898
At 31 August 2024	3,535,555	200	3,535,755

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Registered office	Holding

	RWP Sub Limited	96 Victoria Road, Aberdeen	100%
	Summerhill Pharmacy Limited	16 Summerhill Court, Aberdeen	100%

The aggregate of the share capital and reserves as at 31 August 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

	RWP Sub Limited	511,913	451,729
	Summerhill Pharmacy Limited	199,257	94,331

Page 21

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

17.	STOCKS
		2025	2024
		£	£

Finished goods	468,941	361,410
	468,941	361,410

18.

DEBTORS

					2025	2024
					£	£


Trade debtors	586,287	630,841
Amounts owed by group undertakings	5,100	158,490
Amounts owed by joint ventures and associated undertakings	1,195,000	1,210,000
Other debtors	128,574	108,631
Prepayments and accrued income	38,977	75,219
	1,953,938	2,183,181

19.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Bank loans	350,312	375,911
Trade creditors	839,006	588,065
Amounts owed to group undertakings	146,440	80
Other taxation and social security	175,560	111,516
Obligations under finance lease and hire purchase contracts	-	6,373
Other creditors	36,178	222,931
Accruals and deferred income	136,056	90,906
	1,683,552	1,395,782

Page 22

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

20.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2025	2024
		£	£

Bank loans	2,578,660	3,206,144
Accruals and deferred income	61,015	73,218
	2,639,675	3,279,362

Term loans of £4,000,000 (Loan 1) and £1,590,600 (Loan 2) were drawn down in previous periods. The 2025 year end carrying amount of Loan 1 is £1,600,082 (2024 - £2,126,721) and Loan 2 is £1,328,890 (2024 - £1,455,334). Both loans are repayable in monthly instalments with a final repayment due at the end of the term, for Loan 1 this is is due in November 2027 and for Loan 2 this is due in June 2028. Interest is charged on both loans at a variable rate of 2.22% over base rate.
The bank loans are secured by a bond and floating charge over the whole assets of the Company. The bank holds a Personal Bond and a First Ranking Standard Security over the land and buildings of a property owned by the Company. There is a cross guarantee between KDP (Aberdeen) Ltd, KDP Holdings Ltd, Summerhill Pharmacy Limited and RWP Sub Ltd together with such other security as the Bank may from time to time hold for the debts and liabilities of the guarantors to the Bank.
Hire purchase contracts are secured against the assets to which they relate.

21.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(106,761)
	Charged to profit or loss	31,369
	AT END OF YEAR	(75,392)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(75,392)	(106,761)
		(75,392)	(106,761)

Page 23

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

22.	PROVISIONS

		Deferred income
		£

	At 1 September 2024	2,400
	Utilised in year	(480)
	AT 31 AUGUST 2025	1,920

23.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

50 (2024 - 50) Ordinary shares of £1.00 each	50	50

24.

RESERVES

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

25.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Coompany in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,574 (2024 - £236,021). Contributions totalling £10,077 (2024 - £7,722) were payable to the fund at the reporting date and are included in creditors.

Not later than 1 year	44,109	44,109
Later than 1 year and not later than 5 years	157,160	163,770
Later than 5 years	105,750	143,250
	307,019	351,129

Page 24

KDP (ABERDEEN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

27.	RELATED PARTY TRANSACTIONS
	The director considers himself to be the only key management personnel and remuneration is disclosed per note 8. The company has taken advantage of the exemption in FRS 102 Section 33.1A not to disclose details of transactions between two or more members of the Group on the basis that the subsidiaries are wholly owned. Amounts due from associated companies The following amounts were outstanding at the reporting end date:

		2025	2024
		£	£

Other related parties

1,197,522

1,222,367

Included in debtors is an amount of £1,195,000 (2024 - £1,210,000) owed from Perth Healthcare Limited, a company fully owned by director Brian Arris. This loan is interest free and is repayable on demand.


Other related parties - sales	81,134	17,591
Other related parties - purchases	(16,056)	(2,374)
Other related parties - rents paid	(25,833)	(109,500)

28.	POST BALANCE SHEET EVENTS

Following the period end the company transferred the assets and trade of its farming business with a value of £3,084,944 to KDP (Holdings) Limited.
Following the period end the wholly owned subsidiary RWP Sub Limited sold one pharmacy. The pharmacy in question cintributed less than 10% of the profit before tax for the year to 31 August 2025.

29.	CONTROLLING PARTY

The ultimate parent undertaking is KDP Holdings Ltd, a company registered in Scotland, with registered address of 96 Victoria Road, Torry, Aberdeen, AB11 9DU.
KDP Holdings Ltd is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 31 August 2025. The results of KDP (Aberdeen) Limited are included within the financial statements of KDP Holdings Ltd, these are publicly available on Companies House.

Page 25

KDP (ABERDEEN) LIMITED

Page 26