REGISTERED NUMBER: SC525301 (Scotland)

Financial Statements For The Period 1 May 2025 to 31 October 2025

for

Marnell Pharmacy Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Innes

P Innes

REGISTERED OFFICE:

C/O Robb Ferguson

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC525301 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

2,201,611

2,282,024

Tangible assets

5

322,034

298,800

2,523,645

2,580,824

CURRENT ASSETS

Stocks

156,170

149,659

Debtors

6

508,774

468,317

Cash at bank and in hand

159,450

370,648

824,394

988,624

CREDITORS

Amounts falling due within one year

3,269,043

1,038,638

NET CURRENT LIABILITIES

(2,444,649

)

(50,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,996

2,530,810

CREDITORS

Amounts falling due after more than one year

7

-

(2,389,018

)

PROVISIONS FOR LIABILITIES

(59,452

)

(56,057

)

NET ASSETS

19,544

85,735

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

18,544

84,735

19,544

85,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the period ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2026 and were signed on its behalf by:

J Innes - Director

1.	STATUTORY INFORMATION

Marnell Pharmacy Ltd 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.

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.

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 2017, is being amortised evenly over its estimated useful life of twenty years. In 2019 the amortisation policy was reviewed and it was determined that it was more appropriate that Goodwill is amortised over twenty years as opposed to the previously estimated useful life of ten years.

Tangible fixed assets

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

Fixed plant and equipment

-

25% on reducing balance and 20% on cost

Fixtures and fittings

-

25% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

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 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

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 25 (2025 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2025

and 31 October 2025

3,437,537

AMORTISATION

At 1 May 2025

1,155,513

Amortisation for period

80,413

At 31 October 2025

1,235,926

NET BOOK VALUE

At 31 October 2025

2,201,611

At 30 April 2025

2,282,024

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2025

380,283

Additions

56,835

Disposals

(12,631

)

At 31 October 2025

424,487

DEPRECIATION

At 1 May 2025

81,483

Charge for period

24,778

Eliminated on disposal

(3,808

)

At 31 October 2025

102,453

NET BOOK VALUE

At 31 October 2025

322,034

At 30 April 2025

298,800

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2025

£

£

Other debtors

17,250

17,250

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2025

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

1,019,449

Other loans more 5yrs instal

-

375,000

-

1,394,449

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2025

£

£

Within one year

46,246

55,051

Between one and five years

149,285

169,587

In more than five years

451,375

468,625

646,906

693,263

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2025

£

£

Bank loans

-

1,758,143

Bank of Scotland PLC holds a floating charge over the assets of the company as well as a standard security over the whole of tenant's interests in the property at 31 Townhead, Kirkintilloch.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the date of signing the financial statements is J&P Innes Ltd.