REGISTERED NUMBER: SC191254 (Scotland)

Unaudited Financial Statements

for the Period 1 March 2024 to 28 August 2025

for

GARDEN'S PHARMACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L M Porter

A J Porter

SECRETARY:

Aberdein Considine Secretarial Services

REGISTERED OFFICE:

Porter Pharmacy

Units 22 & 23 City South Park

Bankhead Drive

Portlethen

Aberdeenshire

AB12 4XX

REGISTERED NUMBER:

SC191254 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

387,223

590,408

Investment property

6

-

415,399

387,223

1,005,807

CURRENT ASSETS

Stocks

7

143,915

254,159

Debtors

8

1,408,861

1,533,273

Cash at bank and in hand

187,518

2,073

1,740,294

1,789,505

CREDITORS

Amounts falling due within one year

9

875,986

705,496

NET CURRENT ASSETS

864,308

1,084,009

TOTAL ASSETS LESS CURRENT LIABILITIES

1,251,531

2,089,816

CREDITORS

Amounts falling due after more than one year

10

(3,261

)

(1,047,923

)

PROVISIONS FOR LIABILITIES

12

(37,652

)

(94,421

)

NET ASSETS

1,210,618

947,472

CAPITAL AND RESERVES

Called up share capital

13

344,001

344,001

Revaluation reserve

14

200,494

70,406

Retained earnings

14

666,123

533,065

SHAREHOLDERS' FUNDS

1,210,618

947,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 August 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 August 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

A J Porter - Director

Mrs L M Porter - Director

1.	STATUTORY INFORMATION

Garden's Pharmacy Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 32 (2024 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 August 2025

2,065,645

AMORTISATION

At 1 March 2024

and 28 August 2025

2,065,645

NET BOOK VALUE

At 28 August 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 March 2024

561,009

244,136

287,597

338,137

1,430,879

Additions

-

13,779

-

-

13,779

Disposals

(350,927

)

-

(25,314

)

(258,072

)

(634,313

)

Revaluations

24,918

-

-

-

24,918

At 28 August 2025

235,000

257,915

262,283

80,065

835,263

DEPRECIATION

At 1 March 2024

359,501

189,737

223,919

67,314

840,471

Charge for period

19,257

16,610

13,620

59,857

109,344

Eliminated on disposal

(203,182

)

-

(24,679

)

(98,338

)

(326,199

)

Revaluation adjustments

(175,576

)

-

-

-

(175,576

)

At 28 August 2025

-

206,347

212,860

28,833

448,040

NET BOOK VALUE

At 28 August 2025

235,000

51,568

49,423

51,232

387,223

At 29 February 2024

201,508

54,399

63,678

270,823

590,408

Cost or valuation at 28 August 2025 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2024

561,009

244,136

287,597

338,137

1,430,879

Valuation in 2025

(326,009

)

13,779

(25,314

)

(258,072

)

(595,616

)

235,000

257,915

262,283

80,065

835,263

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 March 2024

338,137

Disposals

(258,072

)

At 28 August 2025

80,065

DEPRECIATION

At 1 March 2024

67,314

Charge for period

59,857

Eliminated on disposal

(98,338

)

At 28 August 2025

28,833

NET BOOK VALUE

At 28 August 2025

51,232

At 29 February 2024

270,823

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

415,399

Disposals

(415,399

)

At 28 August 2025

-

NET BOOK VALUE

At 28 August 2025

-

At 29 February 2024

415,399

7.

STOCKS

28.8.25

29.2.24

£

£

Stocks

143,915

254,159

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.8.25

29.2.24

£

£

Trade debtors

275,713

518,690

Other debtors

-

13,208

Inter Company A & L Porter Ltd

513,002

-

Inter Company ALPF Limited

400,150

-

Directors' current accounts

-

750,211

Tax

212,186

226,455

VAT

-

22,968

Prepayments

7,810

1,741

1,408,861

1,533,273

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.8.25

29.2.24

£

£

Bank loans and overdrafts

-

116,211

Hire purchase contracts

4,891

54,701

Trade creditors

442,755

363,434

Tax

81,702

128,481

Social security and other taxes

9,412

-

VAT

4,685

-

Other creditors

1,647

2,830

Directors' current accounts

262,810

-

Accrued expenses

68,084

39,839

875,986

705,496

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.8.25

29.2.24

£

£

Bank loans - 2-5 years

-

342,550

Bank loans more 5 yr by instal

-

510,389

Hire purchase contracts

3,261

194,984

3,261

1,047,923

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

510,389

11.	SECURED DEBTS

The following secured debts are included within creditors:

28.8.25

29.2.24

£

£

Bank overdraft

-

25,782

Bank loans

-

943,368

Hire purchase contracts

8,152

249,685

8,152

1,218,835

Secured by standard security over all property or undertaking of the company.

12.	PROVISIONS FOR LIABILITIES

28.8.25

29.2.24

£

£

Deferred tax

37,652

94,421

Deferred

tax

£

Balance at 1 March 2024

94,421

Provided during period

(56,769

)

Balance at 28 August 2025

37,652

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.8.25

29.2.24

value:

£

£

344,001

Ordinary

1

344,001

344,001

14.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 March 2024

533,065

70,406

603,471

Profit for the period

133,058

133,058

Revaluation reserve Disposals

-

(70,406

)

(70,406

)

Revaluation

-

200,494

200,494

At 28 August 2025

666,123

200,494

866,617