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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Bann's Pharmacy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 79 Fore Street, St. Dennis, St. Austell, PL26 8AB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Atruet the time 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The company no longer revalues freehold property. In accordance with the transitional provisions for tangible fixed assets in FRSSE 2008 the property is included at a previously revalued amount following a directors valuation in 2008. The carrying amount in the accounts has not been updated in accordance with the transitional provisions.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Related party exemption

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102,' The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The average monthly number of persons (including directors) employed by the company during the year was:

The above disclosed bank loans are secured by the following measures:

a) A first legal charge granted by Bann's Pharmacy Limited in favour of the Bank over the land and buildings at St Day Pharmacy, Homeleigh, St Day, Cornwall, TR16 5JU.

b) An omnibus guarantee and set-off agreement between the Bank and Randhawas Pharma Limited and Bann's Pharmacy Limited dated 1st October 2019 together with such other security as the Bank may from time to time hold in respect of the debts and liabilities of any guarantor to the Bank.

c) An all monies guarantee from Mr Sarbjit Singh and Mrs Amandip Kaur dated 16th April 2020 for a principal amount of £200,000 plus interest and other costs as detailed in the guarantee and in respect of your debts and liabilities to the Bank together with such other security as the Bank may from time to time hold in respect of the debts and liabilities of the guarantor to the Bank.

d) An unlimited debenture granted by Bann's Pharmacy Limited dated 1st October 2019 in favour of the Bank.

e) A first legal charge granted by Bann's Pharmacy Limited dated 1st October 2019 in favour of the Bank over the land and buildings at Melita 79 Fore Street St Dennis St Austell PL26 8AB.

f) A first legal charge granted by Banns Pharmacy Limited dated 1st October 2020 in favour of the Bank over the land and buildings at Land Lying to the South of Harmony Road, Roche, St Austell PL26 8EP.

g) An assignment dated 3rd June 2021 of the proceeds of a life insurance policy of not less than £268,975 which has been taken out in respect of Banns Pharmacy Limited with insurers acceptable to the Bank.

The bank loans payable within and after one year are secured by way of fixed and floating charge over the assets in the company.

The directors provide personal guarantees over these charges.

The following amounts were outstanding at the reporting end date:

The above disclosed amount which is included under other debtors, remained outstanding as of the balance sheet date. The loan is unsecured, interest free and repayable on demand.

The total amount overdrawn at the year end was £141,223. After the reporting date, the directors introduced further capital to the company, and the outstanding balance was fully cleared by 9 February 2026.

The ultimate parent company is Randhawas Pharma Limited ('RPL'), a company incorporated in England.