HOLLYCROFT_CHEMISTS_LIMIT - Accounts

HOLLYCROFT CHEMISTS LIMITED - Company Information

Print Friendly Version

Company Registration No. 02049538 (England and Wales)

HOLLYCROFT CHEMISTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2016

HOLLYCROFT CHEMISTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

HOLLYCROFT CHEMISTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

125,569

146,143

Tangible assets

16,562

19,001

Investments

142,182

165,195

Current assets

Stocks

97,249

93,087

Debtors

519,301

153,504

Cash at bank and in hand

107,425

233

723,975

246,824

Creditors: amounts falling due within one year

(555,363)

(230,681)

Net current assets

168,612

16,143

Total assets less current liabilities

310,794

181,338

Provisions for liabilities

(893)

(860)

309,901

180,478

Capital and reserves

Called up share capital

1,030

Profit and loss account

308,871

179,448

Shareholders' funds

309,901

180,478

For the financial period ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 July 2017

Mr B G Patel

Director

Company Registration No. 02049538

HOLLYCROFT CHEMISTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 OCTOBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Prescription income is received two months in arrears but appropriate accounting adjustments are made to account for it on an accruals basis. Retail sales are recognised on the basis of daily takings.

1.4

Goodwill

Acquired goodwill is written off in equal annual installments over its estimated useful economic life which the directors believe is 5 years.5 years.

1.5

Lease Premiums

Lease premiums are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the life of the lease.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% Reducing balance basis

1.7

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.8

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.9

Stock

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

1.10

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

HOLLYCROFT CHEMISTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 OCTOBER 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 7 November 2015

146,143

51,845

198,039

Additions

524

At 31 October 2016

146,143

52,369

198,563

Depreciation

At 7 November 2015

32,844

Charge for the period

20,574

2,963

23,537

At 31 October 2016

20,574

35,807

56,381

Net book value

At 31 October 2016

125,569

16,562

142,182

At 6 November 2015

146,143

19,001

165,195

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Participating interests

Birstall Investments Limited

England

Ordinary

50.00

BSM Healthcare Limited

England

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Birstall Investments Limited

Pharmacy outlet

4,043

BSM Healthcare Limited

Property investment company

100

Post year end, Birstall Investments Limited sold its trading assets to an unconnected third party and ceased trading. No adjustments have been made in Hollycroft Chemists Limited accounts in this respect.

BSM Healthcare Limited remained dormant for the year ended 31 October 2016.

HOLLYCROFT CHEMISTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 OCTOBER 2016

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £31,863).

Share capital

2016

2015

Allotted, called up and fully paid

1,030 Ordinary shares of £1 each

1,030

Ultimate parent company

On 6 June 2016, the ultimate parent company became Hollycroft Holdings Limited a company which is controlled by Mr B & Mrs P Patel.