Neyland Pharmacy Limited Company accounts

COMPANY REGISTRATION NUMBER: 5014714

Neyland Pharmacy Limited

Unaudited Financial Statements

31 January 2026

Neyland Pharmacy Limited

Financial Statements

Year ended 31 January 2026

Contents	Pages

Officers and professional advisers	1

Directors' report	2

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of income and retained earnings	4

Statement of financial position	5

Notes to the financial statements	6 to 10

Neyland Pharmacy Limited

Officers and Professional Advisers

The board of directors	Mr JRL David
	Mrs S David

Registered office	Hamilton House
	Hamilton Terrace
	Milford Haven
	Pembrokeshire
	SA73 3JP

Accountants	Evens & Co Ltd
	Chartered Accountants
	Hamilton House
	Hamilton Terrace
	Milford Haven
	Pembrokeshire
	SA73 3JP

Neyland Pharmacy Limited

Directors' Report

Year ended 31 January 2026

The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2026 .

Directors

The directors who served the company during the year were as follows:

Mr JRL David
Mrs S David

Directors responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with the applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company Law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year.

In preparing these financial statements, the directors are required to:

* select suitable accounting policies and then apply them consistently;

* make judgements and estimates that are reasonable and prudent;

* prepare the financial statements on the going concern basis unless it is inappropriate to

presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 8 September 2026 and signed on behalf of the board by:

Mr JRL David

Director

Neyland Pharmacy Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Neyland Pharmacy Limited

Year ended 31 January 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Neyland Pharmacy Limited for the year ended 31 January 2026, which comprise the statement of income and retained earnings, statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Neyland Pharmacy Limited, as a body, in accordance with the terms of our engagement letter dated 8 September 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Neyland Pharmacy Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neyland Pharmacy Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Neyland Pharmacy 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 Neyland Pharmacy Limited. You consider that Neyland Pharmacy 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 Neyland Pharmacy 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.

Evens & Co Ltd Chartered Accountants

Hamilton House Hamilton Terrace Milford Haven Pembrokeshire SA73 3JP

8 September 2026

Neyland Pharmacy Limited

Statement of Income and Retained Earnings

Year ended 31 January 2026

	2026	2025
Note	£	£
Turnover	1,044,052	1,046,359

Cost of sales	( 775,529)	( 827,873)
	------------	------------
Gross profit	268,523	218,486

Administrative expenses	( 125,518)	( 134,699)
Other operating income	158	–
	---------	---------
Operating profit	143,163	83,787

Other interest receivable and similar income		105	50
Interest payable and similar expenses		( 2,388)	( 1,546)
		---------	---------
Profit before taxation	5	140,880	82,291

Tax on profit	6	( 36,177)	( 19,898)
		---------	--------
Profit for the financial year and total comprehensive income		104,703	62,393
		---------	--------

Dividends paid and payable	( 96,000)	( 63,000)

Retained earnings at the start of the year	219,018	219,625
	---------	---------
Retained earnings at the end of the year	227,721	219,018
	---------	---------

All the activities of the company are from continuing operations.

Neyland Pharmacy Limited

Statement of Financial Position

31 January 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	7	112,120	119,726

Current assets

Stocks		24,404	27,031
Debtors	8	166,880	162,110
Cash at bank and in hand		130,040	113,286
		---------	---------
		321,324	302,427

Creditors: amounts falling due within one year	9	( 187,132)	( 176,033)
		---------	---------
Net current assets		134,192	126,394
		---------	---------
Total assets less current liabilities		246,312	246,120

Creditors: amounts falling due after more than one year	10	( 11,286)	( 18,852)

Provisions

Taxation including deferred tax	11	( 7,304)	( 8,249)
		---------	---------
Net assets		227,722	219,019
		---------	---------

Capital and reserves

Called up share capital	13	1	1
Profit and loss account		227,721	219,018
		---------	---------
Shareholders funds		227,722	219,019
		---------	---------

These financial statements have been prepared 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'.

For the year ending 31 January 2026 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 .

These financial statements were approved by the board of directors and authorised for issue on 8 September 2026 , and are signed on behalf of the board by:

Mr JRL David

Director

Company registration number: 5014714

Neyland Pharmacy Limited

Notes to the Financial Statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hamilton House, Hamilton Terrace, Milford Haven, Pembrokeshire, SA73 3JP.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

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 a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

Property Improvements	-	2% straight line
Pharmacy Equipment	-	25% reducing balance
Furniture & Fixtures	-	25% reducing balance
Vehicles	-	25% reducing balance
Office Equipment	-	25 % reducing balance

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.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.

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

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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2025: 8 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2026	2025
	£	£
Depreciation of tangible assets	11,948	13,748
	--------	--------

6. Tax on profit

Major components of tax expense

	2026	2025
	£	£

Current tax:

UK current tax expense	37,122	16,712

Deferred tax:

Origination and reversal of timing differences	( 945)	3,186
	--------	--------
Tax on profit	36,177	19,898
	--------	--------

7. Tangible assets

	Property Improvements	Pharmacy Equipment	Furniture & Fixtures	Vehicles	Office Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Feb 2025	110,435	17,607	39,303	55,729	25,664	248,738
Additions	–	1,778	–	–	2,564	4,342
	---------	--------	--------	--------	--------	---------
At 31 Jan 2026	110,435	19,385	39,303	55,729	28,228	253,080
	---------	--------	--------	--------	--------	---------
Depreciation
At 1 Feb 2025	25,323	16,660	37,043	31,284	18,702	129,012
Charge for the year	2,208	681	565	6,112	2,382	11,948
	---------	--------	--------	--------	--------	---------
At 31 Jan 2026	27,531	17,341	37,608	37,396	21,084	140,960
	---------	--------	--------	--------	--------	---------
Carrying amount
At 31 Jan 2026	82,904	2,044	1,695	18,333	7,144	112,120
	---------	--------	--------	--------	--------	---------
At 31 Jan 2025	85,112	947	2,260	24,445	6,962	119,726
	---------	--------	--------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Vehicles
	£
At 31 January 2026	12,310
	--------
At 31 January 2025	16,413
	--------

8. Debtors

	2026	2025
	£	£
Trade debtors	92,120	88,335
Other debtors	74,760	73,775
	---------	---------
	166,880	162,110
	---------	---------

Other debtors include an amount of £nil (2025 - £nil) falling due after more than one year.

9. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts (secured)	3,334	10,000
Trade creditors	134,973	139,322
Corporation tax	37,122	16,712
Social security and other taxes	895	35
Hire purchase agreements (secured)	4,232	4,232
Other creditors	6,576	5,732
	---------	---------
	187,132	176,033
	---------	---------

AAH Pharmaceuticals Limited and Barclays Pharmaceuticals Limited have fixed and floating charges over the assets of the company.

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

	2026	2025
	£	£
Bank loans and overdrafts (secured)	–	3,334
Hire purchase agreements (secured)	11,286	15,518
	--------	--------
	11,286	18,852
	--------	--------

11. Provisions

	Deferred tax (note 12)
	£
At 1 February 2025	8,249
Charge against provision	( 945)
	-------
At 31 January 2026	7,304
	-------

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in provisions (note 11)	7,304	8,249
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
	£	£
Accelerated capital allowances	7,304	8,249
	-------	-------

13. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

14. Related party transactions

The company was under the control of Mr JRL David and Mrs S David , the directors, throughout the current and previous year by virtue of their controlling interest in the issued ordinary share capital. During the year the company paid dividends of £48,000 (2025 - £31,500) each to Mr JRL David and Mrs S David, the directors. The directors of the company have charged the company rent of £25,000 (2025 - £25,000) for use of premises occupied by the company.