| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2026 |
| for |
| Northwood Dispensing Chemists Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2026 |
| for |
| Northwood Dispensing Chemists Limited |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 11 |
| Northwood Dispensing Chemists Limited |
| Company Information |
| for the Year Ended 31 January 2026 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Balance Sheet |
| 31 January 2026 |
| 2026 | 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Balance Sheet - continued |
| 31 January 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2026 |
| 1. | STATUTORY INFORMATION |
| Northwood Dispensing Chemists Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Northwood Dispensing Chemists Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| 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 businesses in 2013 and 2017, is being amortised evenly over its estimated useful life of 20 years. The useful life has been re-assessed by the directors based upon their knowledge and experience of the local areas in which the company operates and other general market conditions in the sector. |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| Freehold property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
| Freehold land is not depreciated. The directors review the value of freehold buildings annually and consider that the residual value of the property is not less than their carrying amount. Accordingly, any depreciation charge would be immaterial to the financial statements and therefore no depreciation is provided. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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. |
| Going concern |
| The Directors have considered going concern in preparing these financial statements through review of the Company's financial position. It has been considered that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of accounting has been adopted and no material uncertainties have been identified. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 February 2025 |
| Disposals | ( |
) |
| At 31 January 2026 |
| AMORTISATION |
| At 1 February 2025 |
| Eliminated on disposal | ( |
) |
| At 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Long | Plant and | Motor |
| property | leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 February 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 January 2026 |
| DEPRECIATION |
| At 1 February 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| Cost or valuation at 31 January 2026 is represented by: |
| Freehold | Long | Plant and | Motor |
| property | leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2024 | 82,020 | - | - | - | 82,020 |
| Valuation in 2025 | (82,020 | ) | - | - | - | (82,020 | ) |
| Cost | 308,633 | 164,215 | 1,058,406 | 71,645 | 1,602,899 |
| 308,633 | 164,215 | 1,058,406 | 71,645 | 1,602,899 |
| Freehold property were valued on an open market basis on 31 January 2026 by the directors . |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST OR VALUATION |
| At 1 February 2025 |
| and 31 January 2026 |
| DEPRECIATION |
| At 1 February 2025 |
| Charge for year |
| At 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| At 31 January 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31 January 2026 |
| NET BOOK VALUE |
| At 31 January 2026 |
| 7. | DEBTORS |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by associates |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| During the year the company disposed of part of its pharmacy business and received consideration comprising cash and loan notes. The loan notes receivable of £1,000,000 is repayable in 2040 and does not bear interest. |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Pharmacy early payment scheme |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to associates | 20,167 | - |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 10) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,039,907 | 242,776 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2026 | 2025 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2026 | 2025 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Bank loans and overdrafts are secured by a fixed and floating charge over all current and future assets of the company. |
| Hire purchase contracts are secured against the assets to which they relate. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2026 | 2025 |
| £ | £ |
| Deferred tax | 61,022 | 43,362 |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2025 |
| Provided during year |
| On property revaluation |
| Balance at 31 January 2026 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2026 | 2025 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 14. | RELATED PARTY DISCLOSURES |
| Apeton Property & Development Limited |
| A company in which Mr and Mrs Northwood are shareholders |
| 2026 | 2025 |
| £ | £ |
| Amount due from related party at the balance sheet date | 190,000 | - |
| Northwood Dispensing Chemists Limited (Registered number: 03590797) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2026 |
| 14. | RELATED PARTY DISCLOSURES - continued |
| Northwood Plus Limited |
| A company in which Mr and Mrs Northwood are shareholders |
| 2026 | 2025 |
| £ | £ |
| Amount due to related party at the balance sheet date | 20,167 | - |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Northwood Dispensing Chemists Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northwood Dispensing Chemists Limited for the year ended 31 January 2026 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Northwood Dispensing Chemists Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northwood Dispensing Chemists Limited and state those matters that we have agreed to state to the Board of Directors of Northwood Dispensing Chemists Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northwood Dispensing Chemists Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Northwood Dispensing Chemists Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northwood Dispensing Chemists Limited. You consider that Northwood Dispensing Chemists Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Northwood Dispensing Chemists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |