Harrogate Pharmacy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10263699 (England and Wales)

Financial Statements for the Year Ended 30 June 2021

for

Harrogate Pharmacy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E Lestner

D A Lestner

REGISTERED OFFICE:

8 Manor Road

Leeds

West Yorkshire

LS11 9AH

REGISTERED NUMBER:

10263699 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

2nd Floor, Woodside House

261 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NY

FIXED ASSETS

Intangible assets

4

-

6,443

Tangible assets

5

15,052

23,259

15,052

29,702

CURRENT ASSETS

Stocks

80,035

73,872

Debtors

6

291,346

215,974

Cash at bank

8,801

2,873

380,182

292,719

CREDITORS

Amounts falling due within one year

7

466,079

453,046

NET CURRENT LIABILITIES

(85,897

)

(160,327

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(70,845

)

(130,625

)

CREDITORS

Amounts falling due after more than one year

8

38,954

-

NET LIABILITIES

(109,799

)

(130,625

)

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(110,099

)

(130,925

)

(109,799

)

(130,625

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2022 and were signed on its behalf by:

J E Lestner - Director

1.	STATUTORY INFORMATION

Harrogate Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company trades from Unit 2 Haywra Crescent, Harrogate, HG1 5BG.

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.

The accounts are prepared on a going concern basis due to continued support of the shareholders and creditors.

Turnover

Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Wholesale sales and prescriptions are recognised when the goods are dispensed.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Improvements to property

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Government grants

The company received grants of £1,146 from the interest of the Bounce Back Loan during the period under review.

Government grants are accounted for under the performance model.

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 costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 year was 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2020

and 30 June 2021

27,670

AMORTISATION

At 1 July 2020

21,227

Charge for year

6,443

At 30 June 2021

27,670

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

6,443

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2020

30,090

13,830

5,260

49,180

Additions

-

695

-

695

At 30 June 2021

30,090

14,525

5,260

49,875

DEPRECIATION

At 1 July 2020

15,045

6,492

4,384

25,921

Charge for year

6,018

2,008

876

8,902

At 30 June 2021

21,063

8,500

5,260

34,823

NET BOOK VALUE

At 30 June 2021

9,027

6,025

-

15,052

At 30 June 2020

15,045

7,338

876

23,259

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

228,769

198,821

Other debtors

62,577

17,153

291,346

215,974

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

10,456

15,000

Trade creditors

370,715

305,270

Other creditors

84,908

132,776

466,079

453,046

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

38,954

-

9.	LEASING AGREEMENTS

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

30.6.21

30.6.20

£

£

Within one year

12,051

11,500

Between one and five years

3,013

11,500

15,064

23,000

10.	SECURED DEBTS

National Westminster Bank PLC hold a fixed and floating charge over property, assets and rights of the company.