Whitworth Chemists Limited

	Page
Company Information	1
Strategic Report	2—3
Directors' Report	4—5
Independent Auditor's Report	6—9
Profit and Loss Account	10
Statement of Comprehensive Income	11
Balance Sheet	12—13
Statement of Changes in Equity	14
Statement of Cash Flows	15
Notes to the Statement of Cash Flows	16
Notes to the Financial Statements	17—25

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Strategic Report

For The Year Ended 26 March 2025

Strategic Report

The directors present their strategic report for the year ended 26 March 2025.

Review of the Business

Whitworth Chemists Ltd is a family-owned chain of independent community pharmacies in the North of England. Despite its relatively small number of pharmacies spread over a large geographical area, Whitworth has been recognised within the pharmacy industry for the innovative way it operates, as demonstrated by numerous industry special commendations and awards won in the past.

During 2024/25 the company sold 29 pharmacies as part of the sales process of the entire estate, with the remaining pharmacies sold the following year. We closed the central warehouse at the end of January 2025 and we have relied solely on supply from our first liners during the final part of this process, which eroded our margins further.

Principal Risks and Uncertainties

The key risks to the business and the industry, include:

- Strains on purchasing margins, due to continued government pressure in category M pricing, thereby reducing the net ingredient cost for drugs dispensed and manufacturers increasing the cost of drugs/medicines.

- The reduction in the fees paid to pharmacies associated with the day-to-day duties of serving patients, despite the rise in both staff and establishment costs associated with the increase in prescription volumes.

- The high volume of concession prices causes additional instability, pressure on cash flow and hyperinflated costs.

The key uncertainties to the business and the industry, include:

- The uncertainty of the five-year NHS contractual; framework coming to an end with no indication of any new contractual agreements in place, for 'year six' or thereafter.

- The announcement of additional clinical services being commissioned in community pharmacies without addressing the chronic underfunding.

- Certain service income streams are still to be finalised and published and as such are difficult to prepare for within our pharmacies.

- The future of Electronic Transfer of Prescriptions and the continued 'direction of prescriptions' associated with the implementation thereof, especially in wholly mail order and internet pharmacy contractors with GPs as shareholders of said pharmacies.

We minimise the risk of the above by having excellent relationships with our suppliers, focussing on cash management and tight control over our controllable costs. We also invest in staff training to keep teams motivated and engaged with any new challenges they may face. Strong leadership also ensures that we stay abreast of any changes strategically and align the business in such a way as to have minimum effect and maximum gain from recent changes to the NHS.

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Whitworth Chemists Limited

Strategic Report (continued)

For The Year Ended 26 March 2025

Key Performance Indicators

The board considers that our key performance indicators are those that demonstrate the financial performance and strength of the company which include Gross Margin, growth of the number of items dispensed, growth in professional services income etc. when compared to the rest of the pharmacy industry.

The company continually assesses its performance on a variety of KPI's which allow the company to evaluate its financial position and effectiveness of the strategies set by the board of directors.

Turnover in the year decreased by 56% to £12.5m (vs 2024: £28.7m)

Gross profit margin 23% (vs 2024: 28%)

On behalf of the board

Mr Richard Bradley

Director

28/06/2026

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Whitworth Chemists Limited

Company No. 03818717

Directors' Report For The Year Ended 26 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 26 March 2025.

Principal Activity

The company's principal activity continues to be that of retail pharmacists.

Dividends

The directors recommend that no final dividends be paid.

The total distribution of dividends for the period ended 26 March 2025 will be £48,000.

Directors

The directors who held office during the year were as follows:

Mrs Sally Vernon
Mrs Dorothy Bradley
Mr Richard Bradley
Mr Jan Badenhorst	Resigned	01/04/2024

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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.

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Whitworth Chemists Limited

Directors' Report (continued)

For The Year Ended 26 March 2025

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, A Wigglesworth and Company Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Richard Bradley

Director

28/06/2026

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Independent Auditor's Report

to the Members of

Whitworth Chemists Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Whitworth Chemists Limited for the year ended 26 March 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 26 March 2025 and of its profit/(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 Opinion

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 Auditor's 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 UK, including the FRC'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 opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

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Independent Auditor's Report (continued)

to the Members of

Whitworth Chemists Limited

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are 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. In connection with our audit of the financial statements, 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 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.

Opinions 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

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 Directors' 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 or returns; or
certain disclosures of directors' 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 Directors' Responsibilities Statement set out on page 4—5, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Whitworth Chemists Limited

Auditor's 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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Companies Act 2006 and Health and Safety regulations. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the company's result for the period, and management bias in key accounting estimates.

Audit procedures performed by the engagement team included:

- Discussions with management and those responsible for legal compliance procedures within the company to obtain an understanding of the legal and regulatory framework applicable to the company and how the company complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;

- Challenging assumptions and judgements made by management in their significant accounting estimates;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, 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.

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

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 that we are required to state to them in an auditor's 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.

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Independent Auditor's Report (continued)

to the Members of

Whitworth Chemists Limited

Arthur Wigglesworth FCA (Senior Statutory Auditor)

for and on behalf of A Wigglesworth and Company Ltd , Statutory Auditor

28/06/2026

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Whitworth Chemists Limited

Profit and Loss Account

For The Year Ended 26 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		12,482,236	28,685,797
Cost of sales		(9,611,026 )	(20,661,768 )

GROSS PROFIT		2,871,210	8,024,029

Administrative expenses		(7,244,516 )	(10,694,357 )
Other operating income		2,828	2,111

OPERATING LOSS	4	(4,370,478 )	(2,668,217 )
Profit on disposal of fixed assets		1,376,214	-
Other interest receivable and similar income	9	2,246	24
Interest payable and similar charges	10	(295,898 )	(633,221 )

LOSS BEFORE TAXATION		(3,287,916 )	(3,301,414 )
Tax on Loss	11	-	13,321

LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR		(3,287,916 )	(3,288,093 )

The notes on pages 16 to 25 form part of these financial statements.

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Whitworth Chemists Limited

Statement of Comprehensive Income

For The Year Ended 26 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
LOSS FOR THE FINANCIAL YEAR	(3,287,916 )	(3,288,093 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	(3,287,916 )	(3,288,093 )

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Whitworth Chemists Limited

Balance Sheet

As At 26 March 2025

Balance Sheet

Registered number: 03818717

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	12		1,309,877		12,956,900
Tangible Assets	13		252,424		1,573,673

			1,562,301		14,530,573
CURRENT ASSETS
Stocks	14	258,732		1,777,489
Debtors	15	428,874		3,858,290
Cash at bank and in hand		1,608,181		90,404

		2,295,787		5,726,183
Creditors: Amounts Falling Due Within One Year	16	(618,283 )		(13,681,035 )

NET CURRENT ASSETS (LIABILITIES)			1,677,504		(7,954,852 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,239,805		6,575,721

NET ASSETS			3,239,805		6,575,721

CAPITAL AND RESERVES
Called up share capital	18		1,375,050		1,375,050
Profit and Loss Account			1,864,755		5,200,671

SHAREHOLDERS' FUNDS			3,239,805		6,575,721

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Whitworth Chemists Limited

Balance Sheet (continued)

As At 26 March 2025

On behalf of the board

Mr Richard Bradley

Director

28/06/2026

The notes on pages 16 to 25 form part of these financial statements.

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Whitworth Chemists Limited

Statement of Changes in Equity

For The Year Ended 26 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	1,375,050	8,535,264	9,910,314
Loss for the year and total comprehensive income	-	(3,288,093 )	(3,288,093)

Dividends paid	-	(46,500)	(46,500)

As at 27 March 2024 and 28 March 2024	1,375,050	5,200,671	6,575,721


Loss for the year and total comprehensive income	-	(3,287,916 )	(3,287,916)

Dividends paid	-	(48,000)	(48,000)

As at 26 March 2025	1,375,050	1,864,755	3,239,805

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Whitworth Chemists Limited

Statement of Cash Flows

For The Year Ended 26 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash used in operations	1	(2,448,463 )	(7,095,270 )
Interest paid		(295,898 )	(633,221 )
Tax refunded/(paid)		171,000	(175,503 )

Net cash used in operating activities		(2,573,361 )	(7,903,994 )

Cash flows from investing activities
Proceeds from disposal of intangible assets		11,513,157	-
Proceeds from disposal of tangible assets		2,655,666	-
Interest received		2,246	24

Net cash generated from investing activities		14,171,069	24

Cash flows from financing activities
Equity dividends paid		(48,000 )	(46,500 )
Proceeds from new bank borrowings		-	2,482,664
Repayment of bank borrowings		(4,289,040 )	-
Repayment of finance leases		(6,978 )	(64,066 )
Amount introduced by directors		14,473	-
Amount withdrawn by directors		(9,043)	(19,769)

Net cash (used in)/generated from financing activities		(4,338,588 )	2,352,329



Increase/(decrease) in cash and cash equivalents		7,259,120	(5,551,641 )
Cash and cash equivalents at beginning of year	2	(5,650,939 )	(99,298 )

Cash and cash equivalents at end of year	2	1,608,181	(5,650,939 )

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Whitworth Chemists Limited

Notes to the Statement of Cash Flows

For The Year Ended 26 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of loss for the financial year to cash used in operations

	2025	2024
	£	£
Loss for the financial year	(3,287,916 )	(3,288,093 )
Adjustments for:
Tax on loss	-	(13,321 )
Interest expense	295,898	633,221
Interest income	(2,246 )	(24 )
Amortisation of intangible assets	133,866	301,324
Depreciation of tangible assets	41,797	109,916
Profit on disposal of tangible assets	(1,376,214)	-
Movements in working capital:
Decrease in stocks	1,518,757	703,554
Decrease in trade and other debtors	3,258,416	248,459
Decrease in trade and other creditors	(3,030,821 )	(5,790,306 )

Net cash used in operations	(2,448,463 )	(7,095,270 )

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,608,181	90,404
Overdraft facilities repayable on demand	-	(5,741,343 )

Cash and cash equivalents as stated in the Statement of Cash Flows	1,608,181	(5,650,939)

3. Analysis of changes in net (debt)/funds

	As at 28 March 2024	Cash flows	As at 26 March 2025
	£	£	£
Cash at bank and in hand	90,404	1,517,777	1,608,181
Overdraft facilities repayable on demand	(5,741,343)	5,741,343	-

Cash and cash equivalents	(5,650,939 )	7,259,120	1,608,181
Finance leases	(6,978)	6,978	-
Debts falling due within one year	(4,289,040 )	4,289,040	-

	(9,946,957)	11,555,138	1,608,181

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Whitworth Chemists Limited

Notes to the Financial Statements

For The Year Ended 26 March 2025

Notes to the Financial Statements

1. General Information

Whitworth Chemists Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03818717 . The registered office is 2c Atkinsons Way, Foxhills Industrial Estate, Scunthorpe, DN15 8QJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill arises on the purchase of retail pharmacies.

It is initially recognised as an an asset at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is provided so as to write off the cost less any estimated residual value over its useful life, 50 years, on a straight line basis.

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Leasehold	Over the term of the lease
Motor Vehicles	25% straight line
Fixtures & Fittings	10% straight line
Computer Equipment	33% straight line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

2.8. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Other Operating Income

	2025	2024
	£	£
Rental income	1,168	1,358
Other operating income	1,660	753

	2,828	2,111

4. Operating Loss

The operating loss is stated after charging:

	2025	2024
	£	£
Bad debts	54,291	-
Depreciation of tangible fixed assets	41,797	109,916
Amortisation of intangible fixed assets	133,866	301,324

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	30,000	26,100

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,781,536	5,733,198
Social security costs	213,629	455,628
Other pension costs	73,649	93,655

	3,068,814	6,282,481

7. Average Number of Employees

Average number of employees, including directors, during the year was: 140 (2024: 283)

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	93,742	135,792

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	2,246	24

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	294,692	495,229
Factoring charges	120	131,475
Finance charges payable under finance leases and hire purchase contracts	1,086	6,517

	295,898	633,221

11. Tax on Profit

The tax credit on the loss for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	-	25.0%	-	-
Prior period adjustment			-	1,240

			-	1,240
Deferred Tax
Deferred taxation			-	(14,561 )


Total tax charge for the period			-	(13,321 )

The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	(3,287,916)	(3,301,414)

Tax on profit at 0% (UK standard rate)	-	-
Prior period adjustment	-	1,240
Deferred tax from unrecognised tax loss or credit	-	(14,561 )

Total tax charge for the period	-	(13,321)

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

12. Intangible Assets

	Goodwill
	£
Cost
As at 28 March 2024	15,066,163
Disposals	(13,506,786 )

As at 26 March 2025	1,559,377

Amortisation
As at 28 March 2024	2,109,263
Provided during the period	133,866
Disposals	(1,993,629 )

As at 26 March 2025	249,500

Net Book Value
As at 26 March 2025	1,309,877

As at 28 March 2024	12,956,900

13. Tangible Assets

	Land & Property
	Freehold	Leasehold	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 28 March 2024	990,095	1,132,423	43,921	1,763,502
Disposals	(970,095 )	(909,998 )	(43,921 )	(1,499,680 )

As at 26 March 2025	20,000	222,425	-	263,822

Depreciation
As at 28 March 2024	296,298	495,052	28,366	1,536,552
Provided during the period	5,979	7,151	-	28,667
Disposals	(301,477 )	(470,548 )	(28,366 )	(1,343,851 )

As at 26 March 2025	800	31,655	-	221,368

Net Book Value
As at 26 March 2025	19,200	190,770	-	42,454

As at 28 March 2024	693,797	637,371	15,555	226,950

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025


	Computer Equipment	Total
	£	£
Cost
As at 28 March 2024	500,946	4,430,887
Disposals	(46,218 )	(3,469,912 )

As at 26 March 2025	454,728	960,975

Depreciation
As at 28 March 2024	500,946	2,857,214
Provided during the period	-	41,797
Disposals	(46,218 )	(2,190,460 )

As at 26 March 2025	454,728	708,551

Net Book Value
As at 26 March 2025	-	252,424

As at 28 March 2024	-	1,573,673

14. Stocks

	2025	2024
	£	£
Stock	258,732	1,777,489

15. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	232,131	2,608,628
Prepayments and accrued income	60,068	360,104
Other debtors	10,072	11,477
Corporation tax recoverable assets	-	171,000
VAT	126,603	704,812
Amounts owed by other participating interests	-	2,269

	428,874	3,858,290

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

16. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	6,978
Trade creditors	543,438	3,156,241
Bank loans and overdrafts	-	10,030,383
Other taxes and social security	10,609	116,286
Other creditors	-	606
Accruals and deferred income	49,763	361,498
Directors' loan accounts	14,473	9,043

	618,283	13,681,035

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	6,978
Bank loans and overdrafts	-	10,030,383

The bank overdraft, bank loans and trade finance are secured by legal charges over the company's freehold and leasehold properties and their respective associated assets.

17. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	6,978

18. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,375,000 Ordinary Shares of £ 1.00 each	1,375,000	1,375,000
25 Ordinary A shares of £ 1.00 each	25	25
25 Ordinary B shares of £ 1.00 each	25	25

	1,375,050	1,375,050

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Whitworth Chemists Limited

Notes to the Financial Statements (continued)

For The Year Ended 26 March 2025

19. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £73,649 (2024: £93,655).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

20. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	48,000	46,500

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