Seaview Pharmacy Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05803232 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Seaview Pharmacy Limited

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

16,500

21,450

Tangible assets

5

9,709

8,322

26,209

29,772

CURRENT ASSETS

Stocks

25,000

18,000

Debtors

173,710

131,359

Cash at bank and in hand

317,585

306,698

516,295

456,057

CREDITORS

Amounts falling due within one year

110,484

113,330

NET CURRENT ASSETS

405,811

342,727

TOTAL ASSETS LESS CURRENT LIABILITIES

432,020

372,499

PROVISIONS FOR LIABILITIES

2,233

1,347

NET ASSETS

429,787

371,152

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

429,687

371,052

SHAREHOLDERS' FUNDS

429,787

371,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 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 22 January 2024 and were signed on its behalf by:

Mrs Y Rong - Director

Dr W Rong - Director

1.	STATUTORY INFORMATION

Seaview Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05803232

Registered office:

The Pharmacy

Pier Road

Seaview

ISLE OF WIGHT

PO34 5BL

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 represents amounts receivable for goods and services provided in the normal course of business, net of VAT.

Goodwill

Purchased goodwill is amortised at rates calculated to write off the asset on a straight line basis over its estimated useful life, and is subject to impairment reviews.

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.

Plant and machinery etc

-

25% on reducing balance

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 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 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.

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 7 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

99,000

AMORTISATION

At 1 April 2022

77,550

Amortisation for year

4,950

At 31 March 2023

82,500

NET BOOK VALUE

At 31 March 2023

16,500

At 31 March 2022

21,450

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

32,245

Additions

4,823

Disposals

(8,990

)

At 31 March 2023

28,078

DEPRECIATION

At 1 April 2022

23,923

Charge for year

3,236

Eliminated on disposal

(8,790

)

At 31 March 2023

18,369

NET BOOK VALUE

At 31 March 2023

9,709

At 31 March 2022

8,322