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Unaudited Financial Statements |
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for the Year Ended 31 January 2020 |
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for |
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C & S Pharmacy Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 January 2020 |
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for |
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C & S Pharmacy Limited |
C & S Pharmacy Limited (Registered number: 07055667) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2020 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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C & S Pharmacy Limited |
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Company Information |
for the Year Ended 31 January 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
316 Blackpool Road |
Fulwood |
Preston |
Lancashire |
PR2 3AE |
C & S Pharmacy Limited (Registered number: 07055667) |
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Statement of Financial Position |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
C & S Pharmacy Limited (Registered number: 07055667) |
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Statement of Financial Position - continued |
31 January 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2020 |
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1. | STATUTORY INFORMATION |
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C & S Pharmacy Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied |
and services rendered, net of discounts and value added tax. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership |
have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be |
measured reliably; it is probable that the associated economic benefits will flow to the entity; and the |
costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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Goodwill |
Goodwill is capitalised as an intangible fixed asset and amortized over its estimated useful life. |
Provision is made for any impairment. |
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Amortisation |
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Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value over |
the useful life of that asset as follows; |
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Goodwill - 5% on cost |
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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. |
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Tangible fixed assets |
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Freehold property | - |
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Long leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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Covid 19 |
On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic. The |
Directors are closely monitoring the progress of the pandemic including how it may affect both the |
company directly and the wider economy. The Directors have not yet determined the full extent of the |
financial impact of these events, but will continue to monitor and assess the ongoing effects and |
respond accordingly and as such the accounts have been prepared on a going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2019 |
and 31 January 2020 |
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AMORTISATION |
At 1 February 2019 |
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Charge for year |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Long | and |
property | leasehold | fittings |
£ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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Disposals |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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Disposals | ( |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 February 2019 |
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Additions |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments |
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C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Bank loans and overdrafts (see note 10) |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Wages Control Account | - | 3,188 |
Pension Control Account | 161 | 97 |
Other creditors |
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Directors' loan accounts | 109,837 | 17,408 |
Accruals and deferred income |
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Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Bank loans (see note 10) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 661,842 | 721,881 |
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10. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.1.20 | 31.1.19 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 661,842 | 721,881 |
C & S Pharmacy Limited (Registered number: 07055667) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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11. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.1.20 | 31.1.19 |
£ | £ |
Within one year |
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12. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.1.20 | 31.1.19 |
£ | £ |
Bank loans |
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The bank loan is secured by fixed and floating charges on the assets of the company to Lloyds Bank |
Plc. |
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13. | RELATED PARTY DISCLOSURES |
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At the year end the company owed £42,155.13 to Johns (Chemist) Ltd a company in which the |
directors are also directors. |
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During the year the company purchased a property previously owned by the directors for £254,662. |