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SHEVINGTON JV LTD

Registered Number
07935420
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2026

SHEVINGTON JV LTD
Company Information
for the period from 1 January 2025 to 31 March 2026

Directors | AHMED, Azhar Ali
| MAHMOOD, Ansar

Registered Address | 1 Houghton Lane
| Shevington
| Wigan
| WN6 8ET

Registered Number | 07935420 (England and Wales)

SHEVINGTON JV LTD
Balance Sheet as at
31 March 2026

| Notes | 31 Mar 2026 |  | 31 Dec 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Intangible assets | 4 |  |  | - |  |  |  | 37,500
Tangible assets | 5 |  |  | 17,845 |  |  |  | 6,510
|  |  |  | 17,845 |  |  |  | 44,010
Current assets |  |  |  |  |  |  |  |
Stocks | 6 | 48,899 |  |  |  | 50,000 |  |
Debtors | 7 | 280,256 |  |  |  | 219,987 |  |
Cash at bank and on hand |  | 106,716 |  |  |  | 113,976 |  |
|  | 435,871 |  |  |  | 383,963 |  |
Creditors amounts falling due within one year | 8 | (382,840) |  |  |  | (405,781) |  |
Net current assets (liabilities) |  |  |  | 53,031 |  |  |  | (21,818)
Total assets less current liabilities |  |  |  | 70,876 |  |  |  | 22,192
Provisions for liabilities |  |  |  | (184) |  |  |  | (1,628)
Net assets |  |  |  | 70,692 |  |  |  | 20,564
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 10 |  |  |  | 10
Profit and loss account |  |  |  | 70,682 |  |  |  | 20,554
Shareholders' funds |  |  |  | 70,692 |  |  |  | 20,564

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
- The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2026, and are signed on its behalf by:
AHMED, Azhar Ali Director
MAHMOOD, Ansar Director Registered Company No. 07935420

SHEVINGTON JV LTD
Notes to the Financial Statements
for the period ended 31 March 2026

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). These financial statements have been prepared for the fifteen-month period ended 31 March 2026. Comparative figures are for the twelve-month period ended 31 December 2024 and are therefore not directly comparable.

| Going concern
--- | ---
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

| Revenue from sale of goods
--- | ---
| Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Operating leases
--- | ---
| Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Employee benefits
--- | ---
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

| Defined contribution pension plan
--- | ---
| The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Intangible assets
--- | ---
| Intangible assets are initially measured at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses. The pharmacy licence is amortised on a straight-line basis over its estimated useful economic life of five years. Amortisation is recognised within administrative expenses in the profit and loss account.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

|  | Reducing balance (%)
| Plant and machinery | 20
| Fixtures and fittings | 20
| Vehicles | 25
| Office Equipment | 33

| Stocks and work in progress
--- | ---
| Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

| 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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

| Government grants or assistance
--- | ---
| Government grants are accounted for under the accrual model. Grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received. Grants of a revenue nature are recognised in profit or loss on a systematic basis over the periods in which the related costs are recognised. During the period, the company recognised government grant income of £16,903 relating to Foundation Trainee Pharmacist Training (31 December 2024: £nil). There were no unfulfilled conditions or contingencies relating to the grant at the reporting date.

2. | Average number of employees
--- | ---

|  | 2026 |  | 2024
| Average number of employees during the year | 14 |  | 18

3. | Prior period adjustment
--- | ---
| Reclassification of comparative figures Certain comparative figures have been reclassified to conform with the presentation adopted in the current period. Subcontractor and locum costs of £102,442 have been reclassified from cost of sales to administrative expenses to ensure consistency with the presentation of other pharmacy staffing costs. Motor vehicle expenses of £4,963 have been reclassified from administrative expenses to distribution costs, and bank charges of £805 have been reclassified from administrative expenses to interest payable and similar charges. These reclassifications have no effect on the profit after taxation for the comparative period or the net assets of the company at 31 December 2024.

4. | Intangible assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 January 25 | 225,000
| At 31 March 26 | 225,000
| Amortisation and impairment
| At 01 January 25 | 187,500
| Charge for year | 37,500
| At 31 March 26 | 225,000
| Net book value
| At 31 March 26 | -
| At 31 December 24 | 37,500

5. | Tangible fixed assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 January 25 | 25,781
| Additions | 25,456
| At 31 March 26 | 51,237
| Depreciation and impairment
| At 01 January 25 | 19,271
| Charge for year | 14,121
| At 31 March 26 | 33,392
| Net book value
| At 31 March 26 | 17,845
| At 31 December 24 | 6,510

6. | Stocks
--- | ---

|  | 2026 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Finished goods | 48,899 |  | 50,000
| Total | 48,899 |  | 50,000

7. | Debtors: amounts due within one year
--- | ---

|  | 2026 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 185,340 |  | 1,680
| Amounts owed by group undertakings | 42,741 |  | 6,001
| Other debtors | 40,764 |  | 48,894
| Prepayments and accrued income | 11,411 |  | 163,412
| Total | 280,256 |  | 219,987

8. | Creditors: amounts due within one year
--- | ---

|  | 2026 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 203,942 |  | 275,987
| Amounts owed to related parties | 14,999 |  | 10,000
| Taxation and social security | 70,210 |  | 28,293
| Other creditors | 92,209 |  | 90,001
| Accrued liabilities and deferred income | 1,480 |  | 1,500
| Total | 382,840 |  | 405,781

9. | Operating lease commitments
--- | ---
| At 31 March 2026, the company had future minimum lease payments under non-cancellable operating leases as follows: Not later than one year: £33,000 (31 December 2024: £27,864) Later than one year and not later than five years: £132,000 (31 December 2024: £111,456) Later than five years: £209,000 (31 December 2024: £211,302) Total operating lease commitments: £374,000 (31 December 2024: £350,622) Operating lease payments recognised as an expense during the period amounted to £41,250 (31 December 2024: £28,720).

10. | Related party transactions
--- | ---
| At 31 March 2026, the company owed its directors £92,209 (31 December 2024: £10,000). During the period, the net balance owed to the directors increased by £82,209. No interest was charged on the balances. The balances are unsecured and repayable on demand. At 31 March 2026, the company owed £14,999 to Adams Pharmacy, a partnership related to the company through common ownership and control (31 December 2024: £nil). During the period, the net balance owed to the partnership increased by £14,999. No interest was charged on the balance. The balance is unsecured and repayable on demand.

11. | Controlling party
--- | ---
| As at the balance sheet date, the immediate and ultimate parent company of Shevington JV Ltd is Adams Thornton Ltd, a company incorporated in England and Wales. Adams Thornton Ltd holds 100% of the issued share capital of Shevington JV Ltd and therefore has the ability to exercise control over the company.

12. | Change in reporting period and impact on comparability
--- | ---
| During the period the company changed its accounting reference date from 31 December to 31 March to align its reporting period with other companies within the group. Accordingly, these financial statements cover the fifteen-month period ended 31 March 2026. Comparative figures relate to the twelve-month period ended 31 December 2024 and are therefore not directly comparable.