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

REGISTERED NUMBER: SC268645 (Scotland)

Financial Statements For The Year Ended 31 August 2021

for

Calder Pharmacy Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

C Shanks

SECRETARY:

Ms D Holmes

REGISTERED OFFICE:

Banknell House

Strathblane Road

Milngavie

Glasgow

G62 8LE

REGISTERED NUMBER:

SC268645 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

43,800

58,400

Tangible assets

5

38,624

58,664

Investments

6

43,253

31,296

Investment property

7

582,534

582,534

708,211

730,894

CURRENT ASSETS

Stocks

16,746

23,245

Debtors

150,915

258,105

Cash at bank

89,064

159,889

256,725

441,239

CREDITORS

Amounts falling due within one year

89,595

209,580

NET CURRENT ASSETS

167,130

231,659

TOTAL ASSETS LESS CURRENT LIABILITIES

875,341

962,553

CREDITORS

Amounts falling due after more than one year

8

(155,585

)

(229,129

)

PROVISIONS FOR LIABILITIES

(7,339

)

(11,146

)

NET ASSETS

712,417

722,278

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

10

18,506

18,506

Retained earnings

692,911

702,772

712,417

722,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 year ended 31 August 2021 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 director and authorised for issue on 15 February 2022 and were signed by:

C Shanks - Director

1.	STATUTORY INFORMATION

Calder Pharmacy Limited 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 2004, is being amortised evenly over its estimated useful life of twenty years.

It is the directors view that a useful life of twenty years is appropriate given the enduring nature of goodwill within retail pharmacy businesses.

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

-

15% on reducing balance

Motor vehicles

-

25% on cost

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in

profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and

slow moving items. Cost is determined on a first-in. first-out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.

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 year 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

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 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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2020

and 31 August 2021

292,000

AMORTISATION

At 1 September 2020

233,600

Amortisation for year

14,600

At 31 August 2021

248,200

NET BOOK VALUE

At 31 August 2021

43,800

At 31 August 2020

58,400

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2020

and 31 August 2021

112,685

DEPRECIATION

At 1 September 2020

54,021

Charge for year

20,040

At 31 August 2021

74,061

NET BOOK VALUE

At 31 August 2021

38,624

At 31 August 2020

58,664

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 September 2020

31,296

Additions

12,457

Impairments

(500

)

At 31 August 2021

43,253

NET BOOK VALUE

At 31 August 2021

43,253

At 31 August 2020

31,296

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

and 31 August 2021

582,534

NET BOOK VALUE

At 31 August 2021

582,534

At 31 August 2020

582,534

Investment property comprises three properties held to earn rental income.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable by instalments

Bank loans more than 5 years by instalments

54,730

83,282

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

182,463

259,340

The Royal Bank of Scotland PLC has a bond and floating charge over the undertaking and all property and

assets present and future.

The Royal Bank of Scotland PLC holds a fixed charge over the property at Leyland Road and another over

the property at Sighthill Park.

10.

RESERVES

Fair

value

reserve

£

At 1 September 2020

and 31 August 2021

18,506

11.	RELATED PARTY DISCLOSURES

Included in other debtors is a balance of £85,503 (2020: £98,420) owed by Mr C Shanks, director of the company. Interest is charged at 2.5%.