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Registered number: 03622112
Meiklejohn Pharmacy Ltd
Financial Statements
For The Year Ended 31 October 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03622112
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 40,447 655,044
40,447 655,044
CURRENT ASSETS
Stocks 5 74,500 63,185
Debtors 6 1,672,678 308,418
Cash at bank and in hand 217,762 2,185,636
1,964,940 2,557,239
Creditors: Amounts Falling Due Within One Year 7 (426,803 ) (1,085,003 )
NET CURRENT ASSETS (LIABILITIES) 1,538,137 1,472,236
TOTAL ASSETS LESS CURRENT LIABILITIES 1,578,584 2,127,280
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,112 ) -
NET ASSETS 1,568,472 2,127,280
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,568,372 2,127,180
SHAREHOLDERS' FUNDS 1,568,472 2,127,280
Page 1
Page 2
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Indira Panchal
Director
1st July 2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Meiklejohn Pharmacy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03622112 . The registered office is Unit 3, Meiklejohn Centre Kingswood Way, Great Denham, Bedford, MK40 4GH.
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 section 1A Small Entities "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.
2.3. 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:
Leasehold Over 15 years
Motor Vehicles 25% Straight line
Fixtures & Fittings 25% Reducing balance
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
2.4. Leasing and Hire Purchase Contracts
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
2.5. 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 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.
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 9)
5 9
4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2024 592,840 228,016 65,388 211,804 1,098,048
Disposals (592,840 ) (228,016 ) - - (820,856 )
As at 31 October 2025 - - 65,388 211,804 277,192
Depreciation
As at 1 November 2024 - 225,762 29,262 187,980 443,004
Provided during the period - 2,253 13,547 5,956 21,756
Disposals - (228,015 ) - - (228,015 )
As at 31 October 2025 - - 42,809 193,936 236,745
Net Book Value
As at 31 October 2025 - - 22,579 17,868 40,447
As at 1 November 2024 592,840 2,254 36,126 23,824 655,044
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Page 5
5. Stocks
2025 2024
£ £
Stock 74,500 63,185
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 191,638 -
Other debtors 1,481,040 308,418
1,672,678 308,418
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 257,232 208,079
Other creditors 17,275 711,226
Taxation and social security 152,296 165,698
426,803 1,085,003
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 November 2024 Amounts advanced Amounts repaid Amounts written off As at 31 October 2025
£ £ £ £ £
Mrs Indira Panchal (697,500 ) 2,113,880 - - 1,416,380
10. Related Party Transactions
The company has taken advantage of 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.
During the year, balances totalling £404,894 due from companies under common directorship were written off.
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