Newland Community Pharmacy Limited Small abbreviated accounts
Newland Community Pharmacy Limited Small abbreviated accounts
COMPANY REGISTRATION NUMBER
05058293
YEAR ENDED
ABBREVIATED BALANCE SHEET
|
2015 |
2014 |
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|
Note |
£ |
£ |
£ |
|
|
FIXED ASSETS |
2 |
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Intangible assets |
- |
- |
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|
Tangible assets |
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---------- |
---------- |
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---------- |
---------- |
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CURRENT ASSETS
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Stocks |
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Debtors |
|
|
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Cash at bank and in hand |
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|
||
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---------- |
---------- |
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276,351 |
224,277 |
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|
CREDITORS: Amounts falling due within one year |
3 |
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|
|
|
---------- |
---------- |
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NET CURRENT ASSETS/(LIABILITIES) |
|
(
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---------- |
---------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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|
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CREDITORS: Amounts falling due after more than one year |
4 |
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|
|
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PROVISIONS FOR LIABILITIES |
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---------- |
---------- |
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---------- |
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CAPITAL AND RESERVES
|
Called up equity share capital |
5 |
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|
|
|
Profit and loss account |
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---------- |
---------- |
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SHAREHOLDERS' FUNDS |
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---------- |
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Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts were approved by the directors and authorised for issue on
26 February 2016
, and are signed on their behalf by:
Company Registration Number:
05058293
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 APRIL 2015
1.
ACCOUNTING POLICIES
Basis of accounting
Turnover
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Leasing and hire purchase commitments
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet.
The interest elements of the rental obligations are charged in the profit and loss account over the periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.
FIXED ASSETS
|
Intangible Assets |
Tangible Assets |
Total |
|
|
£ |
£ |
£ |
|
COST
|
At 1 May 2014 |
|
|
887,516 |
|
Additions |
– |
|
2,170 |
|
---------- |
---------- |
---------- |
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At 30 April 2015 |
|
|
889,686 |
|
---------- |
---------- |
---------- |
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DEPRECIATION
|
At 1 May 2014 |
|
|
482,830 |
|
Charge for year |
– |
|
17,822 |
|
---------- |
---------- |
---------- |
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At 30 April 2015 |
|
|
500,652 |
|
---------- |
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NET BOOK VALUE
|
At 30 April 2015 |
– |
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|
|
---- |
---------- |
---------- |
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At 30 April 2014 |
– |
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---- |
---------- |
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3.
CREDITORS:
Amounts falling due within one year
The following liabilities disclosed under creditors falling due within one year are secured by the company:
|
2015 |
2014 |
|
|
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
|
--------- |
--------- |
|
4.
CREDITORS:
Amounts falling due after more than one year
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
|
2015 |
2014 |
|
|
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
|
---------- |
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Included within creditors falling due after more than one year is an amount of £125,180 (2014 - £139,153) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.
5.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2015 |
2014 |
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|
No |
£ |
No |
£ |
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- |
- |
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- |
- |
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- |
- |
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---- |
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