REGISTERED NUMBER: NI690854 (Northern Ireland)

North Coast Healthcare Limited

Unaudited Financial Statements

for the Year Ended 31 January 2026

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

7

Directors:

Miss E M Emerson

Mr G Emerson

Registered office:

55-57 Scotch Street

Armagh

Co Armagh

BT61 7DF

Registered number:

NI690854 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Intangible assets

4

1,725,020

1,725,020

Tangible assets

5

14,597

15,694

1,739,617

1,740,714

Current assets

Inventories

135,134

96,363

Receivables

6

217,772

199,093

Cash at bank

90,973

154,644

443,879

450,100

Payables

Amounts falling due within one year

7

(224,823

)

(273,328

)

Net current assets

219,056

176,772

Total assets less current liabilities

1,958,673

1,917,486

Provisions for liabilities

8

(3,642

)

(3,924

)

Net assets

1,955,031

1,913,562

Capital and reserves

Called up share capital

9

1,800,100

1,800,100

Retained earnings

154,931

113,462

Shareholders' funds

1,955,031

1,913,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2026 and were signed on its behalf by:

Mr G Emerson - Director

1.	Statutory information

North Coast Healthcare Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Revenue

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

Goodwill

Goodwill incorporates pharmacy licenses for two pharmacies. Under FRS 102 Section 19, goodwill should be considered to have a finite useful life and should be amortised on a systematic basis over its life. The directors, however, believe the residual value of the two pharmacy licences to be no less than cost and therefore no amortisation has been charged through the financial statements.

Property, plant and equipment

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

Property, plant and equipment under the cost model are stated at historical cost, less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Inventories

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year 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 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.

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.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the lability simultaneously.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount. Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of intangible and tangible assets

The annual amortisation and depreciation charges for intangible and tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. Refer to the intangible fixed assets and tangible fixed assets note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3.	Employees and directors

The average number of employees during the year was 19 (2025 - 18 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 February 2025

and 31 January 2026

1,725,020

Net book value

At 31 January 2026

1,725,020

At 31 January 2025

1,725,020

5.	Property, plant and equipment

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 February 2025

5,512

4,968

10,936

21,416

Additions

208

-

3,675

3,883

At 31 January 2026

5,720

4,968

14,611

25,299

Depreciation

At 1 February 2025

1,083

832

3,807

5,722

Charge for year

907

497

3,576

4,980

At 31 January 2026

1,990

1,329

7,383

10,702

Net book value

At 31 January 2026

3,730

3,639

7,228

14,597

At 31 January 2025

4,429

4,136

7,129

15,694

6.	Receivables: less than one

year

2026

2025

£

£

Trade receivables

165,391

146,856

Other receivables

52,381

52,237

217,772

199,093

7.	Payables: less than one year

2026

2025

£

£

Trade payables

198,372

228,972

Taxation and social security

22,538

33,455

Other payables

3,913

10,901

224,823

273,328

8.	Provisions for liabilities

2026

2025

£

£

Deferred tax

Accelerated capital allowances

3,642

3,924

Deferred tax

£

Balance at 1 February 2025

3,924

Credit to Income statement during year

(282

)

Balance at 31 January 2026

3,642

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1,800,100

Ordinary Shares

1

1,800,100

1,800,100

10.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2026 and 31 January 2025:

2026

2025

£

£

Miss E M Emerson

Balance outstanding at start of year

(3,603

)

(83,223

)

Amounts advanced

3,218

79,620

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(385

)

(3,603

)