Longthornes Pharmacies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04858780 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

LONGTHORNES PHARMACIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S M Johnston

D C Matthews

G J Adamson

Miss J R Williams

REGISTERED OFFICE:

Rutland House

90/92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

REGISTERED NUMBER:

04858780 (England and Wales)

ACCOUNTANTS:

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Intangible assets

4

183,150

274,725

Tangible assets

5

10,205

4,331

193,355

279,056

CURRENT ASSETS

Stocks

189,638

228,964

Debtors

692,365

656,666

Cash at bank and in hand

341,185

306,372

1,223,188

1,192,002

CREDITORS

Amounts falling due within one year

1,129,125

1,121,835

NET CURRENT ASSETS

94,063

70,167

TOTAL ASSETS LESS CURRENT LIABILITIES

287,418

349,223

CREDITORS

Amounts falling due after more than one year

40,801

209,574

NET ASSETS

246,617

139,649

CAPITAL AND RESERVES

Called up share capital

8

367

367

Capital redemption reserve

184

184

Retained earnings

246,066

139,098

246,617

139,649

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2022 and were signed on its behalf by:

Miss J R Williams - Director

1.	STATUTORY INFORMATION

Longthornes Pharmacies 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 operates out of various business addresses in Essex each of which differs from the company's registered office.

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 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

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 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 tax 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.

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.

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2020 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2020

and 30 September 2021

1,831,500

AMORTISATION

At 1 October 2020

1,556,775

Amortisation for year

91,575

At 30 September 2021

1,648,350

NET BOOK VALUE

At 30 September 2021

183,150

At 30 September 2020

274,725

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2020

76,820

Additions

9,276

At 30 September 2021

86,096

DEPRECIATION

At 1 October 2020

72,489

Charge for year

3,402

At 30 September 2021

75,891

NET BOOK VALUE

At 30 September 2021

10,205

At 30 September 2020

4,331

6.	LEASING AGREEMENTS

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

2021

2020

£

£

Within one year

96,773

96,773

Between one and five years

382,217

387,092

In more than five years

92,162

184,060

571,152

667,925

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

209,121

373,306

This loan is secured by a fixed and floating charge over the assets of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

1,000

Ordinary 'M'

£0.01

10

10

1,000

Ordinary 'O'

£0.01

10

10

1,000

Ordinary 'P'

£0.01

10

10

1,000

Ordinary 'Q'

£0.01

10

10

32,666

Ordinary

£0.01

327

327

367

367

9.	PENSION COMMITMENTS

During the year the company paid contributions of £29,011 (2020 - £29,357) to a defined benefit contribution scheme operated on behalf of its employees. At the balance sheet date the company owed £434 (2020 - £361).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longthornes Pharmacies Limited for the year ended 30 September 2021 which comprise the Income Statement, Abridged Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Longthornes Pharmacies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Longthornes Pharmacies Limited and state those matters that we have agreed to state to the Board of Directors of Longthornes Pharmacies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longthornes Pharmacies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Longthornes Pharmacies 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 Longthornes Pharmacies Limited. You consider that Longthornes Pharmacies 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 Longthornes Pharmacies 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.

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

20 May 2022