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BOOTS COMPANY PLC(THE) Reg No 00027657

Statutory Information

Previous name(s):	None
Registered Number:	00027657	Incorporation Date:	07/11/1888
Registered Office:	NOTTINGHAM
	NG2 3AA

Latest Filed Accounts:	31/03/2006	Date Accounts Lodged:	25/10/2006
Analysed Accounts:	31/03/2006	Accounts Ref. Date:	31/03
Latest Annual Return:	07/08/2006	Issued Capital: GBP	209,005,599
Company Status:	Large
	Public limited with share capital
	English/Welsh companies incorporated under part 1 of the Companies Act


Type of Accounts:	Full Accounts

Directory Information

Trading Address: -

Telephone Number: - Fax Number: -

Region: EAST MIDLANDS

Bankers: NATWEST BANK

Auditors: KPMG Audit Plc

Principal Activities: The manufacture, marketing and distribution of healthcare and consumer products.

UK SIC Code(s):

52310	Dispensing chemists
52482	Retail sale of photographic, optical and precision equipment, office supplies and equipment (includi
51460	Wholesale of pharmaceutical goods
24520	Manufacture of perfumes and toilet preparations

Risk Information

Todays Score:	86
Credit Limit (GBP):	45,000,000
Contract Limit (GBP):	500,000,000
Historic Credit Score
31/03/2006	83
31/03/2005	96
31/03/2004	92
31/03/2003	94
Commentary
The score has been revised to reflect adverse information re CCJs. For further details please refer to the full list.The company has been established for more than 118 years.The period to 31/03/2006 saw a slight decrease in Sales from £3,094,500,000 to £3,093,300,000.Pre-Tax Profits decreased from £1,010,900,000 to £206,700,000.The resultant Profit Margin of 6.68% (previous = 32.67%) compares unfavourably with the industry average of 10.56%.Shareholders Funds decreased from £1,258,300,000 to £530,700,000, whilst Total Assets decreased from £3,259,400,000 to £2,737,900,000.The resultant Gearing Ratio of 0.19 (Previous = 0.39) compares unfavourably with the industry average of 0.46.This company operates in a sector which has historically generated a similar level of insolvency relative to the total population.


County Court Judgments Summary:	Number of exact unsatisfied CCJs 7 Totalling: GBP14109.00
	Number of probable unsatisfied CCJs: 1 Totalling: GBP110.00
	Number of possible unsatisfied CCJs: None

Cumulative Total of Exact CCJs over:	3 Months	6 Months	12 Months
	GBP	GBP	GBP
Exact match	0.00	248.00	2,342.00
Probable match	0.00	0.00	0.00
Possible match	-	-	-

Latest Ten Judgments:
On 15/02/2007, a judgment of £ 248.00 was made in LEEDS court (Case No. 7LS00151) against THE BOOTS COMPANY PLC <, OLD HALL ROAD, SALE, M33 2GZ, Ref. No. 1602794304 (exact match).
On 30/01/2007, a judgment of £ 2094.00 was made in WAKEFIELD court (Case No. 7WF00070) against THE BOOTS COMPANY PLC <, NOTTINGHAM, NG2 3AA, Ref. No. 3101795069 (exact match).
On 03/10/2006, a judgment of £ 781.00 was made in NORTHAMPTON CCBC court (Case No. 6XK92971) against THE BOOTS COMPANY PLC <, EFM OPC D19, 1 THANE ROAD EST, BEESTON, NOTTINGHAM, NG90 5PY, Ref. No. 0410695192 (exact match).
On 12/01/2006, a judgment of £ 1422.00 was made in KEIGHLEY court (Case No. 5KE01873) against THE BOOTS COMPANY PLC <, R/O NOTTINGHAM, NG2 3AA, Ref. No. 1301600889 (exact match).
On 30/12/2005, a judgment of £ 340.00 was made in NEWCASTLE UPON TYNE court (Case No. 5NE14068) against THE BOOTS COMPANY PLC <, ENGINERING & FACILITIES MANAGEMENT, D19 BUILDING, BEESTON, NOTTINGHAM, NG2 3AA, Ref. No. 0501600515 (exact match). Satisfied
On 12/12/2005, a judgment of £ 203.00 was made in BOSTON court (Case No. 5BZ01842) against THE BOOTS COMPANY PLC <, COMMERCIAL FINANCE FLEET, OLD HALL ROAD, SALE, CHESHIRE, M33 2GZ, Ref. No. 1512500252 (exact match).
On 22/05/2002, a judgment of £ 732.00 was made in NORTHAMPTON court (Case No. XQ260191) against THE BOOTS COMPANY PLC <, PO BOX 94, NOTTINGHAM, NG2 3AA, Ref. No. 2305298527 (exact match).
On 04/04/2002, a judgment of £ 8629.00 was made in NORTHAMPTON court (Case No. XQ235330) against THE BOOTS COMPANY PLC <, TEMPUS, 249 MIDSUMMER BOULEVARD CENTRAL, MILTON KEYNES, MK9 1YA, Ref. No. 0504298121 (exact match).
On 06/09/2005, a judgment of £ 110.00 was made in NOTTINGHAM court (Case No. 5NG10602) against THE BOOTS CO PLC <, DISTRIBUTION DEPT, FLEET SECTION D31, HEAD OFFICE, NOTTINGHAM, NG2 3AA, Ref. No. 0809501596 (probable match).

Ownership

GROUP STRUCTURE
Holding Company:	ALLIANCE BOOTS LIMITED
Ultimate Holding Company:	ALLIANCE BOOTS LIMITED

ALL IMMEDIATE SHAREHOLDINGS ON ICC DATABASE BY TURNOVER

Name	Share Class	% Held	Sales ('000)	A/c Date	Status
BOOTS THE CHEMISTS LIMITED	ORDINARY	100.00	4,515,300	31/03/2006	Trading
BCM LIMITED	ORDINARY	100.00	45,847	31/03/2006	Trading
BOOTS PROPERTIES LIMITED	ORDINARY	-	39,371	31/03/2006	Trading
BOOTS.COM DIRECT LIMITED	ORDINARY	100.00	24,771	31/03/2006	Trading
BOOTS BEAUTY INTERNATIONAL LIMITED	ORDINARY	100.00	17,904	31/03/2006	Trading
BOOTS RETAIL (TAIWAN) LIMITED	ORDINARY	100.00	4,047	31/03/2006	Trading
THE HEALTHCARE LEARNING COMPANY LIMITED	ORDINARY	15.04	1,517	31/12/2006	Trading
LIVINGSTON HEALTH CENTRE (P.D.) CO. LIMITED	ORDINARY B	64.71	1,049	31/03/2006	Trading
LOWPINE DEVELOPMENTS LIMITED	ORDINARY	99.00	574	31/01/1987	Non Trading
BOOTS PRACTITIONER NETWORKS LIMITED	ORDINARY	100.00	341	31/03/2003	Non Trading
BOOTSPHOTO.COM LIMITED	ORDINARY	100.00	44	31/03/2001	Non Trading
LOWPINE PROPERTIES LIMITED	ORDINARY	100.00	3	31/03/2006	Trading
BOOTS PENSIONS LIMITED	ORDINARY	100.00	0	31/03/2006	Trading
G.B.BRITTON & SONS (HOLDINGS) LIMITED	ORDINARY	100.00	0	31/03/2000	Non Trading
BOOTS OPTICAL (HOLDINGS) LIMITED	ORDINARY	100.00	0	31/03/2005	Non Trading
L.C.P. HOLDINGS PLC	ORDINARY	99.37	0	31/03/1996	Dissolved
RUSHBOROUGH INVESTMENTS LIMITED	ORDINARY	100.00	0	31/03/1998	Non Trading
MILLER AND SANTHOUSE LIMITED	ORDINARY	100.00	0	31/03/2006	Trading
WARD WHITE INTERNATIONAL LIMITED	ORDINARY	100.00	0	31/03/2001	Non Trading
PEPPERWORLD LIMITED	ORDINARY	100.00	0	31/03/2002	Non Trading
PEPPERPOWER LIMITED	ORDINARY	100.00	0	31/03/2002	Non Trading
BOOTS (QUEST) TRUSTEE LIMITED	ORDINARY	100.00	0	31/03/2003	Non Trading
BOOTS SHARE PLAN TRUSTEE LIMITED	ORDINARY	100.00	0	31/03/2003	Non Trading
BOOTS SC (THREE) LIMITED	ORDINARY	50.00	0	23/10/2002	Non Trading
CROOKES LABORATORIES GROUP(THE)LIMITED	ORDINARY	98.00	-	-	Dissolved
C.L.(BASINGSTOKE)LIMITED	ORDINARY	98.00	-	-	Non Trading
STEARN BROS LIMITED	ORDINARY	99.90	-	30/09/1990	Non Trading
BOOTS COMPANY (NOMINEES) LIMITED(THE)	ORDINARY	100.00	-	-	Non Trading
BOOTS PRINT LIMITED	ORDINARY	99.00	-	31/03/1998	Non Trading
BOOTS PURE DRUG COMPANY LIMITED	ORDINARY	99.00	-	-	Non Trading
BLYTH PHARMACY LIMITED	ORDINARY	10.00	-	31/03/2006	Trading
HIGHSLOUGH PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
TUNBRIDGE PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHWINCH PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
MARKSTAFFORD PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
LINC DEVELOPMENT (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHSLOUGH PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
MARKSTAFFORD PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
KINGHAMMER PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SOUTHAMPTON PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
PORTCOMM PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
LEICESTER ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CARLISLE DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
LEICESTER ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
KINGHAMMER PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CARLISLE DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHGUILD PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
NORTHDARL PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHGUILD PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
NORTHDARL PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
CHELTENHAM PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
PORTCOMM PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
WESTON SUPER MARE ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
WESTON SUPER MARE ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
BOURNEDALE PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
BLACKPOOL DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CESTER DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
SCARBOROUGH ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
ILFORD DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
NORWICH ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
ILFORD DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
SOUTHPORT ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Dissolved
BOURNEDALE PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
GLOUCESTER DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
PRESTON ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
GLOUCESTER DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CONEY DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SOUTHPORT ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Dissolved
CONEY DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
1820 PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Dissolved
1820 PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Dissolved
CHELTENHAM PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
READING DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
READING DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
TUNBRIDGE PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SOUTHAMPTON PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CANTERBURY DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SCARBOROUGH ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SIDNEY STREET PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
LBORO PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SIDNEY STREET PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
BOURNEMOUTH PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
BLACKPOOL DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
CANTERBURY DEVELOPMENTS (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
POOLE ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
LINC DEVELOPMENT (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
POOLE ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
KIRKGATE ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHWINCH PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
IPSWICH ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
IPSWICH ESTATES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHSUTTON PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
TAUNTON PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
TAUNTON PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
HIGHSUTTON PROPERTIES (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
KIRKGATE ESTATES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
BOURNEMOUTH PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
LBORO PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading
CESTER DEVELOPMENTS (TWO) LIMITED	ORDINARY	100.00	-	-	Non Trading
SILVERSAL PROPERTIES (ONE) LIMITED	ORDINARY	100.00	-	-	Non Trading

Shareholders

SHARE CAPITAL STRUCTURE
Class of Shares	Par Value (pence)	Number of Shares	Issued Capital
ORDINARY	25.000	836022397	209,005,599

Total Issued Capital			£209,005,599


SHAREHOLDERS
Shareholder Name & Address	Class of Shares	Number of Shares	Issued Capital ( £)	Shareholding Number
ALLIANCE BOOTS LIMITED 1 Thane Road West, Nottingham, NG2 3AA	ORDINARY	836,022,396	209,005,599	2
BOOTS COMPANY (NOMINEES) LIMITED(THE) 1 Thane Road West, Nottingham, NG2 3AA	ORDINARY	1	0	1

Summary of Mortgages, Charges and Satisfactions

Total number of mortgages and charges:	1	Total number of outstanding charges:	1
Total number of fully satisfied charges:	0	Date of most recent mortgage:	10/01/2007

Details of Latest Five Mortgages, Charges and Satisfactions

Charge Number:	1 of 1	Date Charge Registered:	10/01/2007
Charge Type:	DEED OF CHARGE AND GUARANTEE - THE LAW DEBENTURE PENSION TRUST CORPORATION P.L.C.	Latest Form Type:	395
		Date Charge Created:	17/01/2007
Lender:	THE LAW DEBENTURE PENSION TRUST CORPORATION P.L.C.
Secured on:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY OR ITS SUBSIDIARIES TO OR IN RESPECT OF THE BENEFICIARIES OR IN RESPECT OF THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL RIGHTS TITLE AND INTEREST IN AND TO THE CHARGED PROPERTY SEE CHARGE PARTICULARS FORM FOR DETAILS

Profit & Loss Account

Date of Accounts	31/03/2006	31/03/2005	31/03/2004	31/03/2003	31/03/2002
Consolidated	N	N	N	N	Y
Subsidiary	Y	Y	Y	Y	N
No. of Weeks	52	52	52	52	52
Currency	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)
Audit Qual./Comment	No	No	No	No	No
Turnover [1]	3,093,300	3,094,500	3,128,300	3,039,500	5,328,300
Cost of Sales	2,715,400	2,721,900	2,787,300	2,667,600	2,787,600
Gross Profit	377,900	372,600	341,000	371,900	2,540,700
Operating Profit [2]	-71,000	113,400	125,200	71,400	642,800
Non-Trading Income	394,900	983,600	355,900	772,900	5,200
Interest Payable	117,200	86,100	85,100	63,300	52,200
Pre-Tax Profit	206,700	1,010,900	396,000	781,000	595,800
Taxation	-65,700	-2,000	22,000	50,800	191,200
Profit After Tax	272,400	1,012,900	374,000	730,200	404,600
Retained Profit	-727,600	12,900	-626,000	-606,400	163,700

Value Added	154,544	319,900	376,127	334,840	1,802,577


Balance Sheet

Date of Accounts	31/03/2006	31/03/2005	31/03/2004	31/03/2003	31/03/2002
Consolidated	N	N	N	N	Y
Subsidiary	Y	Y	Y	Y	N
No. of Weeks	52	52	52	52	52
Currency	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)
Audit Qual./Comment	No	No	No	No	No
Tangible Fixed Assets [3]	2,058,000	2,505,400	3,006,300	3,168,500	1,945,500
Total Fixed Assets	2,058,000	2,505,400	3,006,300	3,168,500	2,243,700

Stocks	154,700	194,700	181,000	174,900	648,100
Trade Debtors	107,400	90,200	65,000	57,900	317,400
Cash	120,300	0	1,000	2,000	100,400
Miscellaneous Current Assets [4]	297,500	469,100	506,700	573,300	541,300
Total Current Assets	679,900	754,000	753,700	808,100	1,607,200

Creditors: Amounts falling due within one year [5]	2,134,800	1,933,400	2,768,900	2,217,700	1,174,700

Total Assets less Current Liabilities	603,100	1,326,000	991,100	1,758,900	2,676,200

Total Liabilities	2,207,200	2,001,100	3,135,100	2,725,700	1,833,300

Share Capital & Reserves [7]	519,800	519,800	519,800	519,800	519,700
P & L Account Reserve	10,900	738,500	105,100	731,100	1,243,500
Revaluation Reserve	0	0	0	0	254,400
Shareholders Funds	530,700	1,258,300	624,900	1,250,900	2,017,600
Capital Employed	603,100	1,326,000	991,100	1,758,900	2,676,200

Net Worth	530,700	1,258,300	624,900	1,250,900	1,719,400
Working Capital	-1,454,900	-1,179,400	-2,015,200	-1,409,600	432,500

Contingent Liabilities	19,343	0	-	-	-


Cash Flow

Date of Accounts	31/03/2006	31/03/2005	31/03/2004	31/03/2003	31/03/2002
Consolidated	N	N	N	N	Y
Subsidiary	Y	Y	Y	Y	N
No. of Weeks	52	52	52	52	52
Currency	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)
Audit Qual./Comment	No	No	No	No	No
Net Cash Flow from Operating Activities	-	-	-	-	722,400
Net Cash Flow from Return on Investment and Servicing of Finance	-	-	-	-	-193,800
Net Cash Flow before Financing	-	-	-	-	56,800
Net Cash Flow from Financing	-	-	-	-	-55,200
Increase in cash	-	-	-	-	1,600


Accounts Notes

Date of Accounts	31/03/2006	31/03/2005	31/03/2004	31/03/2003	31/03/2002
Consolidated	N	N	N	N	Y
Subsidiary	Y	Y	Y	Y	N
No. of Weeks	52	52	52	52	52
Currency	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)	( GBP'000)
Audit Qual./Comment	No	No	No	No	No
[1] Exports	200	1,700	100	4,000	-
[2] Operating Profit is after charging the following
Employees Remuneration	148,500	150,000	199,300	210,000	914,200
Directors Remuneration	0	0	0	0	3,603
Audit Fees	800	200	200	300	900
Non-Audit Fees	500	400	1,100	500	4,200
Depreciation	61,600	40,900	30,900	31,600	150,500

Average Number of Employees (actual)	5,133	5,907	6,934	8,040	78,706

[3] Tangible Assets consist of
Fixed Assets	602,200	657,000	614,000	562,700	1,660,000
Intermediate Assets	1,455,800	1,848,400	2,392,300	2,605,800	285,500
which includes:
-Due from Group, Non-Current	9,700	14,600	228,100	618,800	42,800

[4] Miscellaneous Current Assets includes:
-Due from Group, Current	209,300	362,000	398,300	431,100	4,600
[5] Creditors: Amounts falling due within one year consists of:
Trade Creditors	288,800	284,800	310,000	293,700	361,800
a Bank Overdraft	15,700	512,800	37,100	210,500	111,200
Miscellaneous Current Liabilities includes:	1,830,300	1,135,800	2,421,800	1,713,500	701,700
b -Bank Loans - Current Portion	0	19,400	17,900	16,500	0
c Other Short-Term Finance, including:	1,691,800	1,022,000	1,285,800	1,543,100	42,500
-Due to Group, Current	1,688,100	1,016,500	1,283,500	1,540,900	0
-Due to Directors, Current	0	0	0	0	0

Short-Term Loans (a+b+c)	1,707,500	1,554,200	1,340,800	1,770,100	153,700

[6] Total Long-Term Liabilities consists of:
Long-Term Loans, which consists of:	6,500	24,900	303,200	446,800	418,900
-Long-Term Bank Loans	0	15,600	34,900	52,800	101,700
-Other Long-Term Finance including:	6,500	9,300	268,300	394,000	317,200
-Due to Group, Non-Current	0	0	249,500	374,200	9,400
-Due to Directors, Non-Current	0	0	0	0	0
Other Long-Term Liabilities	65,900	42,800	63,000	61,200	239,700

[7] Share Capital and Reserves consists of:
Called-up Share Capital	209,000	209,000	209,000	209,000	223,200
Sundry Reserves	310,800	310,800	310,800	310,800	296,500


Interims

Date of Interims	30/09/2002	30/09/2001	30/09/2000	30/09/1999
Consolidated	Y	Y	Y	Y
No. of Weeks	26	26	26	26
Currency	(£ '000)	(£ '000)	(£ '000)	(£ '000)

Turnover	2,616,100	2,551,200	2,500,300	2,470,200
Net Interest	-111,400	-3,600	-3,000	-4,200
Pre-Tax Profit	253,300	248,900	230,900	251,500
Taxation	116,800	84,400	80,600	74,600
Profit After Tax	136,500	164,500	150,300	176,900
Dividends Payable	70,000	71,500	68,500	66,700
Retained Profits	66,100	92,900	81,700	110,000

Balance Sheet
Tangible Fixed Assets	1,613,300	1,733,700	1,805,400	1,819,700
Intangible Assets	-	-	-	-
Intermediate Assets	102,900	128,100	137,200	150,500
Total Fixed Assets	2,006,500	2,161,000	2,003,700	2,034,000

Stocks	708,700	702,500	752,700	807,500
Trade Debtors	628,400	551,700	340,100	387,200
Cash	35,000	59,200	12,600	43,700
Miscellaneous Current Assets	522,300	227,100	447,700	385,300
Total Current Assets	1,894,400	1,540,500	1,553,100	1,623,700

Creditors: Amounts falling due within one year	1,101,700	1,095,900	1,105,900	1,204,000
Creditors After One Year Provision	607,200	612,800	604,300	588,400
Called-Up Share Capital	212,800	224,900	224,800	228,100
P & L Account Reserve	1,398,300	1,216,700	1,067,600	1,070,900
Revaluation Reserve	273,100	256,200	259,100	275,800
Other (Sundry) Reserves	307,000	294,400	293,300	290,000
Shareholders Funds	2,191,200	1,992,200	1,844,800	1,864,800
Minority Interests	800	600	1,800	500

Cash Flow
Net Cash Flow from Operations	238,400	253,400	356,200	368,900
Net Cash Flow before Financing	188,200	-107,900	-8,100	-258,200


Ratios

Date of Accounts	31/03/2006	31/03/2005	31/03/2004	31/03/2003	31/03/2002
Acid Ratio	0.25	0.29	0.21	0.29	0.82
Profit/Capital Employed	34.27	76.24	39.96	44.40	22.26
Current Liquidity	0.32	0.39	0.27	0.36	1.37
Profit/Sales (%)	6.68	32.67	12.66	25.70	11.18
Interest Burden	36.18	7.85	17.69	7.50	8.06
Stock Turnover (days)	18.25	22.97	21.12	21.00	44.40
Days Sales Outstanding (DSO)	12.67	10.64	7.58	6.95	21.74
Cash Cycle (days)	30.93	33.60	28.70	27.96	66.14
Days Purchases Outstanding (DPO)	38.82	38.19	40.59	40.19	47.37
Creditor Days	34.08	33.59	36.17	35.27	24.78
Profit/Total Assets (%)	7.55	31.01	10.53	19.64	15.47
Profit/ Shareholders Funds (%)	38.95	80.34	63.37	62.44	29.53
Sales/Total Assets (%)	112.98	94.94	83.20	76.43	138.37
Sales/Fixed Assets	5.14	4.71	5.09	5.40	3.21
Working Capital/Sales (%)	-47.03	-38.11	-64.42	-46.38	8.12
Total Debt/Net worth (%)	322.97	125.49	263.08	177.22	33.30
Shareholders Funds/Total Assets	0.19	0.39	0.17	0.31	0.52
Long-term Debt/Net Worth (%)	1.22	1.98	48.52	35.72	24.36
Interest/Pre-interest Profit	36.18	7.85	17.69	7.50	8.06
Total Debt/Working Capital (%)	-1.18	-1.34	-0.82	-1.57	1.32
Average Employee Remuneration ( £)	28,930	25,394	28,742	26,119	11,615
Wages/Sales (%)	4.80	4.85	6.37	6.91	17.16
Profit per Employee ( £)	40,269	171,136	57,110	97,139	7,570
Sales per Employee ( £)	602,630	523,870	451,154	378,047	67,699
Capital Employed per Employee ( £)	117,495	224,479	142,933	218,769	34,002
Total Fixed Assets per Employee ( £)	400,935	424,141	433,559	394,092	28,507
Total Assets per Employee ( £)	533,392	551,786	542,256	494,602	48,928
Creditors/Debtors	2.69	3.16	4.77	5.07	1.14
Debtors/Total Assets (%)	3.92	2.77	1.73	1.46	8.24
Current Liabilities/Stocks	13.80	9.93	15.30	12.68	1.81
Exports/Sales (%)	0.01	0.05	0.00	0.13	-
Sales/Audit Fees	3,866.63	15,472.50	15,641.50	10,131.67	5,920.33
Total Assets/ Audit Fees	3,422.38	16,297.00	18,800.00	13,255.33	4,278.78


Growth Rates

	1 year	2 year	3 year	4 year
Turnover	0.0	-1.1	1.8	-41.9
Pre-tax Profit	-79.6	-47.8	-73.5	-65.3
Audit Fees	300.0	300.0	166.7	-11.1
Directors Remuneration	-	-	-	-100.0
Number of Employees	-13.1	-26.0	-36.2	-93.5
Employees Remuneration	-1.0	-25.5	-29.3	-83.8
Fixed Assets	-8.3	-1.9	7.0	-63.7
Tangible Assets	-17.9	-31.5	-35.0	5.8
Total Fixed Assets	-17.9	-31.5	-35.0	-8.3
Stocks	-20.5	-14.5	-11.5	-76.1
Trade Debtors	19.1	65.2	85.5	-66.2
Total Current Assets	-9.8	-9.8	-15.9	-57.7
Total Assets	-16.0	-27.2	-31.1	-28.9
Trade Creditors	1.4	-6.8	-1.7	-20.2
Short-Term Loans	9.9	27.3	-3.5	1,010.9
Total Current Liabilities	10.4	-22.9	-3.7	81.7
Net Cash	-	-	-	-
Shareholders Funds	-57.8	-15.1	-57.6	-73.7
Net Worth	-57.8	-15.1	-57.6	-69.1
Long-Term Loans	-73.9	-97.9	-98.5	-98.4
Long-Term Liabilities	6.9	-80.2	-85.7	-89.0
Capital Employed	-54.5	-39.1	-65.7	-77.5

Company/Industry Comparison

This comparison is based on the results of 2667 companies in the same industrial sector: 52310 Dispensing chemists

Company

Industry Averages

31/03/2006

Lower

Median

Upper

Profit/Sales (%)

6.68

5.14

10.56

17.16

Profit/Capital Employed (%)

34.27

11.23

24.58

56.97

Profit/Total Assets (%)

7.55

6.55

15.03

28.26

Profit/Shareholders Funds (%)

38.95

22.01

41.79

84.21

Turnover

Sales/Total Assets (%)

112.98

115.64

167.32

249.30

Sales/Fixed Assets (%)

5.14

10.97

24.01

79.56

Working Capital/Sales (%)

-47.03

18.52

5.96

-0.79

Stock Turnover (days)

18.25

33.00

26.00

19.00

Credit Period (days)

12.67

57.63

35.54

27.77

Creditor Days

34.08

49.60

37.32

23.51

Liquidity

Current Ratio

0.32

0.97

1.47

2.38

Liquidity Ratio

0.25

0.67

1.13

1.99

Gearing

Total Debt/Net Worth (%)

322.97

82.78

18.51

1.29

Shareholders Funds/Total Assets

0.19

0.22

0.46

0.68

Long Term Debt/Net Worth (%)

1.22

14.20

0.00

Interest/Pre-interest Profit

36.18

13.81

2.04

0.00

Total Debt/Working Capital

-1.18

3.42

0.41

0.03

Employee

Average Employee Remuneration ( £)

28,930

11,637

15,650

22,533

Wages/Sales (%)

4.80

14.58

11.12

7.78

Profit per Employee ( £)

40,269

3,626

7,280

14,393

Sales per Employee ( £)

602,630

98,434

123,112

142,564

Capital Employed per Employee ( £)

117,495

28,736

45,221

75,788

Total Fixed Assets per Employee ( £)

400,935

16,271

37,957

62,421

Total Assets per Employee ( £)

533,392

57,925

78,772

109,566

Other

Creditors/Debtors

2.69

0.81

1.33

2.22

Debtors/Total Assets (%)

3.92

13.31

23.08

36.85

Current Liabilities/Stocks

13.80

2.18

3.36

5.20

Exports/Sales (%)

0.01

0.00

Sales/Audit Fees

3,866.63

571.06

950.65

1,758.01

Total Assets/Audit Fees

3,422.38

330.63

654.00

1,038.33


Filing History

13/07/2007	Change among the directors of a company
17/01/2007	Particulars of a mortgage or charge
31/05/2003	Alteration in memorandum or articles of association
22/08/2002	Returns of allotments of a public company
31/07/2002	Resolutions which give, vary, revoke or renew an authority for the purposes of section 80 (allotment of securities)
31/07/2002	Special resolutions passed under section 95 disapplication of pre-emption rights
06/08/1988	Resolutions or agreements to which section 380 applies (relating to shares, rights or names)


Directors

Company Secretaries
DAVID CHARLES GEOFFREY FOSTER
Appointment Date:	28/02/2007
Date of Birth:	19/09/1959
Occupation:
Address:	HATHERN COTTAGES, 11A WIDE STREET, HATHERN, LOUGHBOROUGH, LEICESTERSHIRE, LE12 5JQ
Present Appointments:	78
Resignations since June 1996:	33

MARCO PAGNI
Appointment Date:	28/02/2007
Date of Birth:	20/01/1962
Occupation:
Address:	2 THE HEIGHTS, BROOKLANDS, WEYBRIDGE, SURREY, KT13 0NY
Present Appointments:	25
Resignations since June 1996:	1

Directors
ALEXANDER WALLACE GOURLAY
Appointment Date:	08/12/2003
Date of Birth:	25/12/1959
Occupation:	RETAIL DIRECTOR
Address:	D90, THANE ROAD WEST, NOTTINGHAM, NG90 1BS
Present Appointments:	13
Resignations since June 1996:	0

PAUL BRYAN FUSSEY
Appointment Date:	16/10/2006
Date of Birth:	19/11/1966
Occupation:	FINANCE DIRECTOR
Address:	D90, 1 THANE ROAD WEST, NOTTINGHAM, NOTTINGHAMSHIRE, NG90 1BS
Present Appointments:	12
Resignations since June 1996:	0