Thornes Pharmacy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06343412

Thornes Pharmacy Limited

Filleted Unaudited Financial Statements

For the year ended

30 November 2025

Thornes Pharmacy Limited

Financial Statements

Year ended 30 November 2025

Contents	Page

Officers and professional advisers	1

Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Thornes Pharmacy Limited	2

Statement of financial position	3

Notes to the financial statements	5

Thornes Pharmacy Limited

Officers and Professional Advisers

The board of directors	Mr N J Thorne
	Mr D W Fairclough
	Mrs J Thorne
	Mrs E M Fairclough

Company secretary	Mr N J Thorne

Registered office	2 Oldfield Road
	Bocam Park
	United Kingdom
	CF35 5LJ

Accountants	Clay Shaw Thomas Ltd

	2 Oldfield Road
	Bocam Park
	Bridgend
	CF35 5LJ

Bankers	Lloyds Bank Plc
	31 Queen St
	Cardiff
	CF10 2AG

Thornes Pharmacy Limited

Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Thornes Pharmacy Limited

Year ended 30 November 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Clay Shaw Thomas Ltd

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

5 May 2026

Thornes Pharmacy Limited

Statement of Financial Position

30 November 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	428,788	495,399
Tangible assets	6	32,763	18,838
		---------	---------
		461,551	514,237

Current assets

Stocks		84,137	63,054
Debtors	7	583,778	570,065
Cash at bank and in hand		212,657	185,804
		---------	---------
		880,572	818,923

Creditors: amounts falling due within one year	8	768,807		692,378
		---------		---------
Net current assets			111,765	126,545
			---------	---------
Total assets less current liabilities			573,316	640,782

Creditors: amounts falling due after more than one year	9		571,370	656,328

Provisions

Taxation including deferred tax	8,191	4,709
	---------	---------
Net liabilities	( 6,245)	( 20,255)
	---------	---------

Capital and reserves

Called up share capital	4	4
Capital redemption reserve	1	1
Profit and loss account	( 6,250)	( 20,260)
	-------	--------
Shareholders deficit	( 6,245)	( 20,255)
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have 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 Act with respect to accounting records and the preparation of financial statements .

Thornes Pharmacy Limited

Statement of Financial Position (continued)

30 November 2025

These financial statements were approved by the board of directors and authorised for issue on 5 May 2026 , and are signed on behalf of the board by:

Mr N J Thorne

Director

Company registration number: 06343412

Thornes Pharmacy Limited

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, CF35 5LJ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future conclude 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 in preparing its financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax in line with the company's principal activity which is that of a chemists. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

The company operates a defined contribution scheme. The amount charged to the profit and loss account in respect of pension costs are the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 25 (2024: 23 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 December 2024 and 30 November 2025	1,529,399
	------------
Amortisation
At 1 December 2024	1,034,000
Charge for the year	66,611
	------------
At 30 November 2025	1,100,611
	------------
Carrying amount
At 30 November 2025	428,788
	------------
At 30 November 2024	495,399
	------------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 December 2024	15,617	97,111	–	6,425	119,153
Additions	1,236	–	18,361	225	19,822
	--------	--------	--------	-------	---------
At 30 November 2025	16,853	97,111	18,361	6,650	138,975
	--------	--------	--------	-------	---------
Depreciation
At 1 December 2024	13,745	81,599	–	4,971	100,315
Charge for the year	545	3,878	383	1,091	5,897
	--------	--------	--------	-------	---------
At 30 November 2025	14,290	85,477	383	6,062	106,212
	--------	--------	--------	-------	---------
Carrying amount
At 30 November 2025	2,563	11,634	17,978	588	32,763
	--------	--------	--------	-------	---------
At 30 November 2024	1,872	15,512	–	1,454	18,838
	--------	--------	--------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	520,542	503,779
Amounts owed by group undertakings	8,098	8,059
Other debtors	55,138	58,227
	---------	---------
	583,778	570,065
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	86,810	86,727
Trade creditors	320,843	303,295
Social security and other taxes	121,618	68,257
Other creditors	239,536	234,099
	---------	---------
	768,807	692,378
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	571,370	656,328
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £224,582 (2024: £325,549) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The loans are secured by a debenture and by a fixed and floating charge over the company's assets.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	49,500	55,547
Later than 1 year and not later than 5 years	198,000	198,000
Later than 5 years	601,083	650,583
	---------	---------
	848,583	904,130
	---------	---------

11. Related party transactions

The company has taken exemption from disclosing related party transactions with wholly owned companies within a group. The company has also taken exemption under the small companies regime from disclosing related party transactions that are either considered immaterial or concluded under normal market conditions.