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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2022 |
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BUCHANHAVEN PHARMACY LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2022 |
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FOR |
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BUCHANHAVEN PHARMACY LIMITED |
BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BUCHANHAVEN PHARMACY LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 January 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Bankhead Drive |
City South Office Park |
Portlethen |
Aberdeenshire |
AB12 4XX |
BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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BALANCE SHEET |
31 January 2022 |
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2022 | 2021 |
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 | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 10 | ( |
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PROVISIONS FOR LIABILITIES | 14 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium | 15 |
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Capital redemption reserve | 15 |
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Retained earnings | 15 |
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SHAREHOLDERS' FUNDS |
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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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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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Buchanhaven Pharmacy Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Buchanhaven Pharmacy Limited as an individual company and do not contain consolidated financial information. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its ultimate parent, Buchanhaven Holdings 2020 Limited, c/o Acumen Accountants & Advisors Limited, Bankhead Drive, City South Office Park, Portlethen, Aberdeen, Scotland, AB12 4XX. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Revenue from the sale of goods is recognised when the significant risks and ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Goodwill |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
A government grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs, including the Coronavirus Job Retention Scheme, is recognised in profit or loss of the period in which it becomes receivable. |
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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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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 balance sheet date. |
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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 February 2021 |
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Disposals | ( |
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At 31 January 2022 |
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AMORTISATION |
At 1 February 2021 |
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Eliminated on disposal | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 February 2021 |
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Additions |
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Disposals | ( |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2021 |
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Additions |
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Disposals | ( |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 February 2021 |
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Additions |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 February 2021 |
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Additions |
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Disposals | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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7. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts (see note 11) |
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Hire purchase contracts (see note 12) |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 743 | 500 |
Accrued expenses |
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10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans (see note 11) |
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Hire purchase contracts (see note 12) |
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11. | LOANS |
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An analysis of the maturity of loans is given below: |
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2022 | 2021 |
£ | £ |
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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12. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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12. | LEASING AGREEMENTS - continued |
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Non-cancellable operating | leases |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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13. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank loans |
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A floating charge is held by the bank over the assets and undertakings of the company. |
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A standard security is held by the bank over the properties. |
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14. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 31,275 | 14,974 |
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Deferred |
tax |
£ |
Balance at 1 February 2021 |
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Provided during year |
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Balance at 31 January 2022 |
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15. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
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At 1 February 2021 |
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2,468,700 |
Profit for the year |
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Dividends | ( |
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At 31 January 2022 |
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3,245,103 |
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16. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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17. | PENSION COMMITMENTS |
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At the balance sheet date unpaid contributions of £3,184 (2021: £3,000) were due to be paid. These are included in other creditors. |
BUCHANHAVEN PHARMACY LIMITED (REGISTERED NUMBER: SC293941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2022 |
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18. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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As at 31 January 2022, there is a loan balance due to a director of £418 (2021: £250). |
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As at 31 January 2022, there is a loan balance due to a director of £325 (2021: £250). |
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The loans are interest free and there are no fixed repayment terms. |
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19. | ULTIMATE CONTROLLING PARTY |
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The joint ultimate controlling party is Mrs S Reid and Mr J Mitchell. |
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The ultimate parent company is Buchanhaven Holdings 2020 Ltd. |