| Pharmaco Partnership Limited |
| Registered number: |
10474227 |
| Balance Sheet |
| as at 30 November 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
1,778,941 |
|
|
1,778,941 |
|
| Current assets |
| Cash at bank and in hand |
|
|
- |
|
|
3,743 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,023,629) |
|
|
(812,730) |
|
| Net current liabilities |
|
|
|
(1,023,629) |
|
|
(808,987) |
|
| Total assets less current liabilities |
|
|
|
755,312 |
|
|
969,954 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
- |
|
|
(459,333) |
|
|
|
| Net assets |
|
|
|
755,312 |
|
|
510,621 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
754,312 |
|
|
509,621 |
|
| Shareholder's funds |
|
|
|
755,312 |
|
|
510,621 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Mitul Harshad Patel |
| Director |
| Approved by the board on 3 August 2023 |
|
| Pharmaco Partnership Limited |
| Notes to the Accounts |
| for the year ended 30 November 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 December 2021 |
1,778,941 |
|
|
At 30 November 2022 |
1,778,941 |
|
| 4 |
Detailes of undertakings |
|
Details of investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking Holding Proportion of voting rights & shares
Subsidiary undertakings
Kirkley Pharmacy Limited Ordinary shares 100%
Registered office
205 Plumstead Road, Norwich, Norfolk, United Kingdom, NR1 4AB
Principal activity : provision of retail pharmacy services.
The profit for the financial period Kirkley Pharmacy Limited was £122,603 and the aggregate amount of capital and reserve at the end of the period was £153,852.00 |
|
|
| 4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
104,000 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
314,899 |
|
- |
|
Other creditors |
708,730 |
|
708,730 |
|
|
|
|
|
|
1,023,629 |
|
812,730 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
- |
|
459,333 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party note |
|
|
Mr M H Patel and Mr Kanwardeep Singh are Directors of Kirkley Pharmacy Limited.
At the end of the year amount owed by the company to the directors is £181,399 (2021: £708,730).
During the year the company has declared dividends of £0.00. (2021: £0.00). |
|
| 7 |
Summary of transactions with subsidiaries |
|
|
Kirkley Pharmacy Limited
(100% subsidiary undertaking of Pharmaco Partnership Limited)
During the year there was a loan total of £564,898.93.00 which was repaid during the year ended 30 November 2022 by way of a dividend distribution of £250,000.00.
At the balance sheet date the amount due to Kirkley Pharmacy Limited was £364,898.93 (2021: £0.00) |
|
|
| 8 |
Controlling party |
|
|
Summary of Transactions with parent company
Donald G Hayden (Chemists) Limited
(Parent undertaking of Pharmaco Partnership Limited) |
|
|
| 9 |
Other information |
|
|
Pharmaco Partnership Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
205 Plumstead Road |
|
Norwich |
|
England |
|
NR1 4AB |
