Tower Court Pharmacy Limited - Abbreviated accounts

TOWER COURT PHARMACY LIMITED - Company Information

Registered number

04639022

Tower Court Pharmacy Limited

Abbreviated Accounts

31 May 2016

Tower Court Pharmacy Limited
Registered number:		04639022
Abbreviated Balance Sheet
as at 31 May 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		9,118			10,426

Current assets
Stocks		51,428			54,858
Debtors		205,750			104,007
Cash at bank and in hand		114,581			83,474
		371,759			242,339

Creditors: amounts falling due within one year		(186,489)			(185,210)

Net current assets			185,270			57,129

Total assets less current liabilities			194,388			67,555


Provisions for liabilities			(2,933)			(2,933)


Net assets			191,455			64,622

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			191,355			64,522

Shareholder's funds			191,455			64,622

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



B M Wilson
Director
Approved by the board on 27 October 2016

Tower Court Pharmacy Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			15% & 33% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 June 2015					57,135
	Additions					329
	At 31 May 2016					57,464

	Depreciation
	At 1 June 2015					46,709
	Charge for the year					1,637
	At 31 May 2016					48,346

	Net book value
	At 31 May 2016					9,118
	At 31 May 2015					10,426


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100