Abbey House Pharmacy (Daventry) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06551681 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

ABBEY HOUSE PHARMACY (DAVENTRY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Taylor

Dr P S Gardiner

Dr M Davies

SECRETARY:

C J Taylor

REGISTERED OFFICE:

Taylor Group House

Wedgnock Lane

Warwick

Warwickshire

CV34 5YA

REGISTERED NUMBER:

06551681 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

Chartered Accountants

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

6,335

8,961

CURRENT ASSETS

Stocks

52,023

66,211

Debtors

5

176,585

183,301

Cash at bank and in hand

276,287

181,416

504,895

430,928

CREDITORS

Amounts falling due within one year

6

280,662

249,001

NET CURRENT ASSETS

224,233

181,927

TOTAL ASSETS LESS CURRENT LIABILITIES

230,568

190,888

PROVISIONS FOR LIABILITIES

669

1,051

NET ASSETS

229,899

189,837

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

229,699

189,637

SHAREHOLDERS' FUNDS

229,899

189,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

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 December 2021 and were signed on its behalf by:

M J Taylor - Director

1.	STATUTORY INFORMATION

Abbey House Pharmacy (Daventry) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:-

NHS income

NHS income is recognised on a receipt basis. Adjustments are made for debtors to bring in income earned but not yet received.

Over the counter (OTC) sales

OTC sales are recorded weekly by cashsheet and are therefore recognised at point of sale.

Prepayments and accrued income are recognised as appropriate. Other debtors also recognised as appropriate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Debtors and creditors receivable/payable within 1 year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2020

and 31 March 2021

38,665

6,978

4,524

50,167

DEPRECIATION

At 1 April 2020

34,694

4,771

1,741

41,206

Charge for year

794

441

1,391

2,626

At 31 March 2021

35,488

5,212

3,132

43,832

NET BOOK VALUE

At 31 March 2021

3,177

1,766

1,392

6,335

At 31 March 2020

3,971

2,207

2,783

8,961

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

119,710

133,426

Other debtors

38,796

21,991

Tax

1,900

-

Prepayments

16,179

27,884

176,585

183,301

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

175,918

209,497

Tax

33,236

22,918

Social security and other taxes

5,118

3,647

Other creditors

58,084

1,362

Accrued expenses

8,306

11,577

280,662

249,001

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

12,754

13,533

Between one and five years

13,817

28,194

26,571

41,727

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary A

1

100

100

100

Ordinary B

1

100

100

200

200