ACCOUNTS - Final Accounts preparation

BOWLING PHARMACY LIMITED - Company Information

2015-04-01 false true 2016-03-312016-03-312016-03-31trueThe Director at the time when this Director's report is approved has confirmed that: so far as he is aware, there is no relevant audit information of which the Company's auditor is unaware, and he has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information. 04514282 2015-04-01 2016-03-31 04514282 2014-03-01 2015-03-31 04514282 2016-03-31 04514282 2015-03-31 04514282 2014-03-01 04514282 c:CompanySecretary 2015-04-01 2016-03-31 04514282 c:OrdinaryShareClass1 2016-03-31 04514282 c:OrdinaryShareClass1 2015-03-31 04514282 c:OrdinaryShareClass1 2015-04-01 2016-03-31 04514282 c:Director1 2015-04-01 2016-03-31 04514282 c:Director2 2015-04-01 2016-03-31 04514282 c:EntityAccountantsOrAuditors 2016-03-31 04514282 c:RegisteredOffice 2015-04-01 2016-03-31 04514282 c:EntityAccountantsOrAuditors 2015-04-01 2016-03-31 04514282 d:DividendsPaid c:AllOrdinaryShares 2015-04-01 2016-03-31 xbrli:shares iso4217:GBP

Registered number: 04514282

BOWLING PHARMACY LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

BOWLING PHARMACY LIMITED

COMPANY INFORMATION

DIRECTORS	Mr K C Patel (deceased 16 July 2016)
	Mr K C Patel Jnr


COMPANY SECRETARY	Mr A R Patel


REGISTERED NUMBER	04514282


REGISTERED OFFICE	2 Peterwood Way
	Croydon
	Surrey
	CR0 4UQ


INDEPENDENT AUDITOR	KPMG LLP, Statutory Auditor
	Chartered Accountants
	1 Forest Gate
	Brighton Road
	Crawley
	RH11 9PT

BOWLING PHARMACY LIMITED

CONTENTS

	Page
Director's report	1 - 2
Independent auditor's report	3 - 4
Profit and loss account	5
Balance sheet	5 - 6
Notes to the financial statements	7 - 9

BOWLING PHARMACY LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2016

The Director presents his report and the audited financial statements for the 13 month year ended 31 March 2016 comparative 13 month period ended 31March 2015.

PRINCIPAL ACTIVITIES

The company ceased trading on 28 February 2014. On 1st March 2014 the entire issued share capital of the company was acquired by Day Lewis plc and trade and assets were hived up into that company. The company has not traded during the year since this hive up or subsequent to the year end.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The Director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the Director to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and the Financial Reporting Standard for Smaller Entities (Effective January 2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Director is required to:

·select suitable accounting policies and then apply them consistently;

·make judgments and accounting estimates that are reasonable and prudent;

·state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

·prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. As explained in note 1, the Directors do not believe that it is appropriate to prepare these financial statements on a going concern basis.

The Director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DIRECTORS

The Directors who served during the year were:

Mr K C Patel (deceased 16 July 2016)

Mr K C Patel Jnr

Page 1

BOWLING PHARMACY LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2016

DISCLOSURE OF INFORMATION TO AUDITOR

The Director at the time when this Director's report is approved has confirmed that:

·so far as he is aware, there is no relevant audit information of which the Company's auditor is unaware, and

·he has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

AUDITOR

Under section 487(2) of the Companies Act 2006, KPMG LLP, Statutory Auditor will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board and signed on its behalf.

Mr K C Patel Jnr

Director

Date: 22 December 2016

2 Peterwood Way

Croydon

Surrey

CR0 4UQ

Page 2

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BOWLING PHARMACY LIMITED

We have audited the financial statements of Bowling Pharmacy Limited for the year ended 31 March 2016, set out on pages 5 to 9. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the Company's shareholders, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's shareholders those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's shareholders as a body, for our audit work, for this report, or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF DIRECTOR AND AUDITOR

As explained more fully in the Director's responsibilities statement, the Director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS

A description of the scope of an audit of financial statements is provided on the Financial Reporting Council's website at www.frc.org.uk/auditscopeukprivate.

OPINION ON FINANCIAL STATEMENTS

In our opinion the financial statements:

·give a true and fair view of the state of the Company's affairs as at 31 March 2016 and of its results for the year then ended;

·have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

·have been prepared in accordance with the requirements of the Companies Act 2006.

EMPHASIS OF MATTER - NON-GOING CONCERN BASIS OF PREPARATION

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1 to the financial statements which explains that the financial statements have not been prepared on the going concern basis for the reasons set out in note 1.

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements.

Page 3

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BOWLING PHARMACY LIMITED

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

·adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

·the financial statements are not in agreement with the accounting records and returns; or

·certain disclosures of director's remuneration specified by law are not made; or

·we have not received all the information and explanations we require for our audit; or

·the Director was not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies' exemption from the requirement to prepare a Strategic report.

Timothy Rush (Senior statutory auditor)

for and on behalf of

KPMG LLP, Statutory Auditor

Chartered Accountants

1 Forest Gate

Brighton Road

Crawley

RH11 9PT

22 December 2016

Page 4

BOWLING PHARMACY LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2016

		31 March	Period from 01 March 2014 to 31 March
		2016	2015
	Note	£	£
EXCEPTIONAL ITEMS
Profit on hive up at fair value	3	-	1,014,316
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION		-	1,014,316
Tax on profit on ordinary activities		-	-
PROFIT FOR THE FINANCIAL YEAR	6	-	1,014,316

The notes on pages 7 to 9 form part of these financial statements.

All results are discontinued operations.
There were no recognised gains and losses other than those included in the Profit and loss account.

Page 5

BOWLING PHARMACY LIMITED

REGISTERED NUMBER: 04514282

BALANCE SHEET

AS AT 31 MARCH 2016


				2016		2015

Note

CURRENT ASSETS
Debtors	4		1		1,020,876

TOTAL ASSETS LESS CURRENT LIABILITIES

1,020,876

CAPITAL AND RESERVES
Called up share capital	5	1	1
Profit and loss account	6	-	1,020,875

SHAREHOLDERS' FUNDS

1,020,876

The financial statements have been prepared in accordance with the special provisions applicable to small companies within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr K C Patel Jnr

Director

Date: 22 December 2016

The notes on pages 7 to 9 form part of these financial statements.

Page 6

BOWLING PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). These financial statements were prepared in accordance with Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") as issued in September 2015. As the company has met the Companies Act 2006 definition of a dormant company as at and since the date of transition the accounting policies applied at the date of transition under previous GAAP have been retained as permitted by paragraph 10(m) of chapter 35 of FRS 102. As a result there will be no change to amounts reported at 1st April 2014 until there is any change to those balances or the company undertakes any new transactions.

	1.2	Going concern
		As the directors do not intend to acquire a replacement trade, the directors have not prepared the financial statements on a going concern basis.

2.OPERATING PROFIT

During the year, no Director received any emoluments (2015 - £NIL).

Auditors fees of £nil have been borne by Day Lewis Plc (2015: £nil)

3.EXCEPTIONAL ITEMS

	31 March	Period from 01 March 2014 to 31 March
	2016	2015
	£	£
Profit on disposal of trade and assets	-	1,014,316

4.DEBTORS

	2016	2015
	£	£

Amounts owed by group undertakings	1	1,020,876

5.SHARE CAPITAL

	2016	2015
	£	£
Allotted, called up and fully paid

1 Ordinary share of £1	1	1

Page 7

BOWLING PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

6.RESERVES

		Profit and loss account
		£

	At 1 April 2015	1,020,875
	Dividends: Equity capital	(1,020,875)


	At 31 March 2016	-

7.RECONCILIATION OF MOVEMENT IN SHAREHOLDERS' FUNDS

	2016	2015
	£	£
Opening shareholders' funds	1,020,876	6,560
Profit for the financial year/period	-	1,014,316
Dividends (Note 8)	(1,020,875)	-
Closing shareholders' funds	1	1,020,876

8.DIVIDENDS

			31 March	Period from 01 March 2014 to 31 March
			2016	2015
			£	£

Dividends paid on equity capital

1,020,875

9.RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available in accordance with FRSEE section 16.2 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

Page 8

BOWLING PHARMACY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

10.ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The company's immediate parent company is Day Lewis plc, a company registered in England and Wales. It prepares group accounts which are available at Day Lewis House, 2 Peterwood Way, Croydon, Surrey CR0 4UQ.
The ultimate parent company is Day Lewis Holdings Limited, a company registered in Cyprus. Mr K C Patel, a director of the company, is the controlling shareholder of that company.

Page 9