Medichem (Pontefract) Limited - Abbreviated accounts 16.1

Medichem (Pontefract) Limited - Abbreviated accounts 16.1

MEDICHEM (PONTEFRACT) LIMITED - Company Information

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REGISTERED NUMBER: 07530993 (England and Wales)















MEDICHEM (PONTEFRACT) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2015






MEDICHEM (PONTEFRACT) LIMITED (REGISTERED NUMBER: 07530993)

CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 30 September 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

MEDICHEM (PONTEFRACT) LIMITED

COMPANY INFORMATION
for the year ended 30 September 2015







DIRECTORS: Mr R Dhand
Dr A Perkins
Dr J M Taylor
Dr V Syam
Dr R Sreelatha
Mr S Bryan





REGISTERED OFFICE: Stuart Road Surgery
Stuart Road
Pontefract
West Yorkshire
WF8 4PQ





REGISTERED NUMBER: 07530993 (England and Wales)





ACCOUNTANTS: Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS
Page 1
MEDICHEM (PONTEFRACT) LIMITED (REGISTERED NUMBER: 07530993)

ABBREVIATED BALANCE SHEET
30 September 2015

2015 2014
Notes £    £   
FIXED ASSETS
Intangible assets 2 47,152 94,304
Tangible assets 3 14,105 13,639
61,257 107,943

CURRENT ASSETS
Stocks 63,249 40,381
Debtors 146,187 142,260
Cash at bank and in hand 116,799 167,873
326,235 350,514
CREDITORS
Amounts falling due within one year (231,132 ) (326,423 )
NET CURRENT ASSETS 95,103 24,091
TOTAL ASSETS LESS CURRENT
LIABILITIES
156,360
132,034

PROVISIONS FOR LIABILITIES (1,465 ) (1,923 )
NET ASSETS 154,895 130,111

CAPITAL AND RESERVES
Called up share capital 4 36 36
Profit and loss account 154,859 130,075
SHAREHOLDERS' FUNDS 154,895 130,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 notes form part of these abbreviated accounts

Page 2 continued...
MEDICHEM (PONTEFRACT) LIMITED (REGISTERED NUMBER: 07530993)

ABBREVIATED BALANCE SHEET - continued
30 September 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 22 April 2016 and were signed on its behalf by:




Mr S Bryan - Director



Mr R Dhand - Director


The notes form part of these abbreviated accounts

Page 3
MEDICHEM (PONTEFRACT) LIMITED (REGISTERED NUMBER: 07530993)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 30 September 2015


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).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as
a small company.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover for dispensing income is recognised accrued to reflect completed monthly prescriptions, and cash
sales are recognised on a received basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

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

Plant and machinery etc - 33.33% on cost, 25% on reducing balance, 20% on cost and 10% 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Page 4 continued...
MEDICHEM (PONTEFRACT) LIMITED (REGISTERED NUMBER: 07530993)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 30 September 2015


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2014
and 30 September 2015 141,456
AMORTISATION
At 1 October 2014 47,152
Amortisation for year 47,152
At 30 September 2015 94,304
NET BOOK VALUE

At 30 September 2015 47,152
At 30 September 2014 94,304

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2014 34,121
Additions 5,659
At 30 September 2015 39,780
DEPRECIATION
At 1 October 2014 20,482
Charge for year 5,193
At 30 September 2015 25,675
NET BOOK VALUE
At 30 September 2015 14,105
At 30 September 2014 13,639

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
18 Ordinary 'A' £1 18 18
18 Ordinary 'B' £1 18 18
36 36

The different classes of ordinary shares have the same priorities on winding up, voting rights and entitlements
to dividends.

Page 5