Medichem - Northolme Limited - Limited company - abbreviated - 11.6
Medichem - Northolme Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| MEDICHEM - NORTHOLME LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2014 |
| MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the year ended 31 August 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| MEDICHEM - NORTHOLME LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 August 2014 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302) |
| ABBREVIATED BALANCE SHEET |
| 31 August 2014 |
| 2014 | 2013 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 August 2014 |
| The financial statements were approved by the Board of Directors on |
| MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the year ended 31 August 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Goodwill |
| Goodwill is considered to have an indefinite life that can be demonstrated, and the value of the goodwill can be |
| readily measured. The dispensing chemist industry, in which the company operates, has high market entry |
| barriers due to the nature of licence agreements with local health authorities and the limited number available in |
| the marketplace. The value of the business can be ascertained by reference to the current value of goodwill which |
| is payable in the market based on a price per £ in relation to the levels of turnover for each individual pharmacy. |
| The directors review the value of goodwill on an annual basis and considers it to be worth in excess of the net |
| book value. |
| The company has not amortised goodwill, a departure from the Companies Act 2006 and a departure from the |
| FRSSE, for the over-riding purpose of giving a true and fair view of the company's results. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Pensions |
| The company operates a defined contribution pension scheme. Contributions payable for the year are charged in |
| the profit and loss account. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2013 |
| and 31 August 2014 |
| NET BOOK VALUE |
| At 31 August 2014 |
| At 31 August 2013 |
| MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the year ended 31 August 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2013 |
| Additions |
| At 31 August 2014 |
| DEPRECIATION |
| At 1 September 2013 |
| Charge for year |
| At 31 August 2014 |
| NET BOOK VALUE |
| At 31 August 2014 |
| At 31 August 2013 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2014 | 2013 |
| £ | £ |
| Repayable by instalments | 527,779 | 584,270 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary "A" | £1 |
| Ordinary "B" | £1 |
| 600 | 600 |