Accounts


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  HARBURY PHARMACY LIMITED
         
         
  ABBREVIATED UNAUDITED ACCOUNTS
         
         
  FOR THE YEAR ENDED 31 JULY 2016
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
  INDEX TO THE ACCOUNTS
         
 
         
  Pages
         
  1 Abbreviated Balance Sheet    
         
  2-4 Notes to the Abbreviated Accounts    
         
 
         
         
         
         
         
         
         
         
         
         
         
         
         
  HARBURY PHARMACY LIMITED
  Company registered number: 08130314
  ABBREVIATED BALANCE SHEET
  AT 31 July 2016
           
    Note 2016 2015
      £ £ £
  FIXED ASSETS
  Intangible assets 2 221,667 256,667
  Tangible Assets 3 6,239 2,883
      227,906 259,550
         
  CURRENT ASSETS
  Stock 1d 18,744 21,746
  Debtors falling due within one year   40,944 46,508
  Cash at bank and in hand   112,511 104,265
      172,199 172,519
  CREDITORS: Amounts falling due within one year   111,028 110,964
  NET CURRENT ASSETS   61,171 61,555
  TOTAL ASSETS LESS CURRENT LIABILITIES   289,077 321,105
           
  CREDITORS: Amounts falling due after more than one year (175,974) (235,974)
           
  Provisions for Liabilities   (882) (131)
  NET ASSETS   £112,221 £85,000
       
  CAPITAL AND RESERVES
  Called up share capital 5 100 100
  Profit and loss account   112,121 84,900
  SHAREHOLDERS' FUNDS   £112,221 £85,000
       
         
  In approving these financial statements as directors of the company we hereby confirm the following:
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
         
  Directors' responsibilities:
  1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476,
  2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
         
  The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
         
  These abbreviated accounts were approved by the board of directors on 12 February 2017
 
 
         
  Suresh Patel, Director
  The notes on pages 2 to 4 form part of these accounts
  page 1
  NOTES TO THE ABBREVIATED ACCOUNTS
  FOR THE YEAR ENDED 31 JULY 2016
       
 
1. ACCOUNTING POLICIES
     
     
1a. Basis of accounting
     
  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).
       
       
1b. Intangible fixed assets: goodwill
       
  Purchased goodwill is amortised over the estimated useful economic life of 10 years. In the opinion of the directors, this 10 year economic life is reason period considering the nature and location of the business and life expectancy of the local population. Large part of the income is derived from NHS Prescriptions.
         
         
1c. Tangible fixed assets
         
  Fixed assets are shown at historical cost.
         
  Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
         
         
  Equipment Reducing balance 25%    
       
       
1d. Stocks
       
  Stocks are stated at the lower of cost and net realisable value.
       
       
1e. Taxation
       
  Corporation tax payable is provided on taxable profits at the current rate. 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 that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
       
 
       
       
1f. Turnover
       
  Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business, all within UK.
  page 2
  HARBURY PHARMACY LIMITED
  NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2016
     
     
2. INTANGIBLE FIXED ASSETS 2016
    £
  Cost
     
  At 1 August 2015 350,000
  At 31 July 2016 350,000
  Depreciation
     
  At 1 August 2015 93,333
  For the year 35,000
  At 31 July 2016 128,333
   
  Net Book Amounts
     
  At 31 July 2016 £221,667
   
     
     
3. TANGIBLE FIXED ASSETS 2016
    £
  Cost
     
  At 1 August 2015 4,785
  Additions 4,619
  At 31 July 2016 9,404
   
  Depreciation
     
  At 1 August 2015 1,902
  For the year 1,263
  At 31 July 2016 3,165
   
  Net Book Amounts
     
  At 31 July 2016 £6,239
   
       
       
4. CREDITORS
    2016 2015
    £ £
  Creditors include the following amounts of liabilities:
       
  Due after more than one year 175,974 235,974
   
  page 3
  HARBURY PHARMACY LIMITED
  NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 JULY 2016
       
       
5. SHARE CAPITAL 2016 2015
    £ £
  Allotted, issued and fully paid:
       
  50Ordinary "Class A" shares of £1 each £50 £50
  50Ordinary "Class B" shares of £1 each 50 50
    100 100
   
  page 4