REGISTERED NUMBER: SC831038 (Scotland)

Financial Statements

For The Period 5 December 2024 to 28 February 2026

for

MK Pharmacare Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K D Paterson

M Reilly

REGISTERED OFFICE:

4 Claremont Terrace

Glasgow

G3 7XR

REGISTERED NUMBER:

SC831038 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

836,865

Tangible assets

5

38,936

875,801

CURRENT ASSETS

Stocks

44,300

Debtors

6

174,170

Cash at bank

261,450

479,920

CREDITORS

Amounts falling due within one year

7

599,140

NET CURRENT LIABILITIES

(119,220

)

TOTAL ASSETS LESS CURRENT LIABILITIES

756,581

CREDITORS

Amounts falling due after more than one year

8

(615,353

)

PROVISIONS FOR LIABILITIES

(9,734

)

NET ASSETS

131,494

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

131,394

131,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2026 and were signed on its behalf by:

K D Paterson - Director

1.	STATUTORY INFORMATION

MK Pharmacare Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2025, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixed plant and equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

929,850

At 28 February 2026

929,850

AMORTISATION

Charge for period

92,985

At 28 February 2026

92,985

NET BOOK VALUE

At 28 February 2026

836,865

5.	TANGIBLE FIXED ASSETS

Fixed

plant and

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

Additions

30,462

15,890

1,826

48,178

At 28 February 2026

30,462

15,890

1,826

48,178

DEPRECIATION

Charge for period

5,429

3,405

408

9,242

At 28 February 2026

5,429

3,405

408

9,242

NET BOOK VALUE

At 28 February 2026

25,033

12,485

1,418

38,936

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

134,645

VAT

29,299

Prepayments

10,226

174,170

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

24,824

Trade creditors

120,490

Tax

67,310

Social security and other taxes

4,230

Directors' current accounts

378,000

Accrued expenses

4,286

599,140

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans - 1-2 years

24,824

Bank loans - 2-5 years

74,471

Bank loans more 5 yr by instal

516,058

615,353

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

516,058

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

12,000

Between one and five years

48,000

In more than five years

108,000

168,000