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

REGISTERED NUMBER: 04934939 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2021

for

PRESTWICH PHARMACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr F G McCaul

Mrs H Hughes

Mr H Hughes

Mr M Williams

SECRETARY:

Mrs H Hughes

REGISTERED OFFICE:

c/o BTMR Limited

Century Buildings

14 St. Mary's Parsonage

Manchester

M3 2DF

REGISTERED NUMBER:

04934939 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Lloyds TSB Bank Plc

Burnley Branch

Burnley

Lancashire

FIXED ASSETS

Tangible assets

4

43,215

13,663

Investments

5

162,981

162,981

206,196

176,644

CURRENT ASSETS

Stocks

129,273

178,507

Debtors

6

421,787

317,902

Cash at bank and in hand

813,677

355,974

1,364,737

852,383

CREDITORS

Amounts falling due within one year

7

653,438

526,306

NET CURRENT ASSETS

711,299

326,077

TOTAL ASSETS LESS CURRENT LIABILITIES

917,495

502,721

CAPITAL AND RESERVES

Called up share capital

10,004

10,004

Share premium

92,668

92,668

Retained earnings

814,823

400,049

SHAREHOLDERS' FUNDS

917,495

502,721

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 15 August 2022 and were signed on its behalf by:

Mr F G McCaul - Director

1.	STATUTORY INFORMATION

Prestwich 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.

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 accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Tangible fixed assets are initially recorded at cost.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2020 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 December 2020

554,610

248,436

300,998

1,104,044

Additions

-

541

56,026

56,567

Disposals

(26,022

)

(75,173

)

(229,440

)

(330,635

)

At 30 November 2021

528,588

173,804

127,584

829,976

DEPRECIATION

At 1 December 2020

554,610

246,801

288,970

1,090,381

Charge for year

-

1,268

25,747

27,015

Eliminated on disposal

(26,022

)

(75,173

)

(229,440

)

(330,635

)

At 30 November 2021

528,588

172,896

85,277

786,761

NET BOOK VALUE

At 30 November 2021

-

908

42,307

43,215

At 30 November 2020

-

1,635

12,028

13,663

5.	FIXED ASSET INVESTMENTS

Shares in

subsidiary

undertaki

ngs

£

COST

At 1 December 2020

and 30 November 2021

162,981

NET BOOK VALUE

At 30 November 2021

162,981

At 30 November 2020

162,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

374,296

210,694

Other debtors

47,491

107,208

421,787

317,902

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade creditors

220,602

201,898

Taxation and social security

100,800

73,488

Other creditors

332,036

250,920

653,438

526,306

8.	LEASING AGREEMENTS

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

30.11.21

30.11.20

£

£

Within one year

55,000

-

Between one and five years

82,136

-

In more than five years

91,460

-

228,596

-

9.	ULTIMATE CONTROLLING PARTY

There is no controlling party