ACCOUNTS - Final Accounts preparation

Registered number: 08193145

BARONS PHARMACY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

BARONS PHARMACY LIMITED

ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BARONS PHARMACY LIMITED
FOR THE YEAR ENDED 28 FEBRUARY 2026

You consider that the Company is exempt from an audit for the year ended 28 February 2026. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 12 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

Eclipse Consultancy Limited

The Courtyard

14A Sydenham Road

Croydon

CR0 2EE

30 October 2026

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BARONS PHARMACY LIMITED

REGISTERED NUMBER: 08193145

BALANCE SHEET

AS AT 28 FEBRUARY 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	4		746,000		918,000
Tangible assets	5		378,732		408,637
			1,124,732		1,326,637
Current assets
Stocks		92,037		71,545
Debtors: amounts falling due within one year	6	307,459		287,143
Cash at bank and in hand	7	229,699		144,558
		629,195		503,246
Creditors: amounts falling due within one year	8	(653,505)		(649,360)
Net current liabilities			(24,310)		(146,114)
Total assets less current liabilities			1,100,422		1,180,523
Creditors: amounts falling due after more than one year	9		(1,101,978)		(1,209,839)

Net liabilities			(1,556)		(29,316)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(1,558)	(29,318)
	(1,556)	(29,316)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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BARONS PHARMACY LIMITED

REGISTERED NUMBER: 08193145

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2026

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2026.

................................................

Nishant Modha

Director

The notes on pages 5 to 12 form part of these financial statements.

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		BARONS PHARMACY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 28 FEBRUARY 2026

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 March 2024	2	227,160	227,162

Loss for the year	-	(202,919)	(202,919)
Dividends: Equity capital	-	(53,559)	(53,559)

At 1 March 2025	2	(29,318)	(29,316)

Profit for the year	-	27,760	27,760
At 28 February 2026	2	(1,558)	(1,556)

The notes on pages 5 to 12 form part of these financial statements.

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

1.2

Going concern

The financial statements have been prepared on a going concern basis.

The company made a profit after taxation of £27,760 during the year ended 28 February 2026 (2025: loss £52,438) and had net liabilities of £1,556 at the year end (2025: £29,316).

The directors have reviewed the company's trading performance, cash flow forecasts and available financing facilities. The directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its liabilities as they fall due.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1.Accounting policies (continued)

1.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

1.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	10%
Plant and machinery	-	25%
Motor vehicles	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

1.Accounting policies (continued)

1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

1.10

Debtors

Short-term debtors 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.

1.11

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.

1.12

Creditors

Short-term creditors 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.

2.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities.

The principal areas requiring the use of estimates are:

Goodwill impairment and useful economic lives

The directors review the carrying value of goodwill annually and consider whether indicators of impairment exist. Judgement is applied in determining the useful economic lives of acquired pharmacy businesses.

Inventory valuation

Inventory is stated at the lower of cost and net realisable value. The valuation of inventory requires management judgement in assessing the recoverability of stock and provisions required for slow-moving or obsolete items.

Employees

The average monthly number of employees, including directors, during the year was 16 (2025 - 14).

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

4.	Intangible assets

		Goodwill
		£

	At 1 March 2025	1,436,300
	At 28 February 2026	1,436,300

	At 1 March 2025	518,300
	Charge for the year on owned assets	172,000
	At 28 February 2026	690,300
	Net book value
	At 28 February 2026	746,000
	At 28 February 2025	918,000

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

5.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 March 2025	392,551	130,270	64,484	587,305
Additions	-	2,015	-	2,015
At 28 February 2026	392,551	132,285	64,484	589,320
Depreciation
At 1 March 2025	35,810	126,737	16,121	178,668
Charge for the year on owned assets	13,000	2,799	16,121	31,920
At 28 February 2026	48,810	129,536	32,242	210,588
Net book value
At 28 February 2026	343,741	2,749	32,242	378,732
At 28 February 2025	356,741	3,533	48,363	408,637

Debtors

					2026	2025
					£	£


Trade debtors	218,190	207,622
Other debtors	84,195	74,484
Prepayments and accrued income	5,074	5,037
	307,459	287,143

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

7.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	229,699	144,558
Less: bank overdrafts	(296)	-
	229,403	144,558

8.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank overdrafts	296	-
Bank loans	134,400	134,400
Trade creditors	225,438	299,332
Amounts owed to group undertakings	4,715	4,715
Corporation tax	76,555	-
Other taxation and social security	4,444	3,049
Obligations under finance lease and hire purchase contracts	11,538	11,538
Other creditors	9,726	1,596
Accruals and deferred income	186,393	194,730
	653,505	649,360

9.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	1,080,297	1,178,072
Net obligations under finance leases and hire purchase contracts	21,681	31,767
	1,101,978	1,209,839

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

10.	Loans

		2026	2025
		£	£

Amounts falling due within one year
Bank loans	134,400	134,400
	134,400	134,400

Amounts falling due 2-5 years
Bank loans	1,080,297	1,178,072
	1,080,297	1,178,072

	1,214,697	1,312,472

11.	Hire purchase and finance leases

		2026	2025
		£	£

12.

Related party transactions

During the year the company entered into transactions with entities under common control.

At 28 February 2026 amounts due to/from related parties were as follows:
2026
£
Amounts owed to related parties 4,715
Amounts due from related parties -

The balances are unsecured, interest free and repayable on demand unless otherwise agreed.

The company also maintained a director's loan account with Nishant Modha. Transactions during the year were undertaken in the normal course of business.

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BARONS PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

13.	Controlling party

The company is controlled by Nishant Modha by virtue of his shareholding in the company.

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