Prestwich Pharmacy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04934939 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

PRESTWICH PHARMACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr F G McCaul

Mrs H Hughes

Mr H Hughes

Mr M Williams

SECRETARY:

Mrs H Hughes

REGISTERED OFFICE:

Century Buildings

14 St. Mary's Parsonage

Manchester

M3 2DF

REGISTERED NUMBER:

04934939 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Lloyds TSB Bank Plc

Burnley Branch

Burnley

Lancashire

FIXED ASSETS

Tangible assets

4

22,250

38,157

Investments

5

162,981

162,981

185,231

201,138

CURRENT ASSETS

Stocks

171,337

160,568

Debtors

6

174,732

319,349

Cash at bank and in hand

10,267

10,534

356,336

490,451

CREDITORS

Amounts falling due within one year

7

462,391

542,375

NET CURRENT LIABILITIES

(106,055

)

(51,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79,176

149,214

CAPITAL AND RESERVES

Called up share capital

10,004

10,004

Share premium

92,668

92,668

Retained earnings

(23,496

)

46,542

SHAREHOLDERS' FUNDS

79,176

149,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 August 2018 and were signed on its behalf by:

Mr F G McCaul - Director

1.	STATUTORY INFORMATION

Prestwich Pharmacy Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration

in exchange for its performance of its obligations under the sales contract with the customer. The amount

reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual

arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

33% on cost and 10% on cost

Fixtures and fittings

-

50% on cost and 20% on cost

Tangible fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to

the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of overhead expenditure are matched against the overhead incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 December 2016

554,610

245,259

262,975

1,062,844

Additions

-

1,534

-

1,534

At 30 November 2017

554,610

246,793

262,975

1,064,378

DEPRECIATION

At 1 December 2016

554,461

244,179

226,047

1,024,687

Charge for year

149

84

17,208

17,441

At 30 November 2017

554,610

244,263

243,255

1,042,128

NET BOOK VALUE

At 30 November 2017

-

2,530

19,720

22,250

At 30 November 2016

149

1,080

36,928

38,157

5.	FIXED ASSET INVESTMENTS

Shares in

subsidiary

undertaki

ngs

£

COST

At 1 December 2016

and 30 November 2017

162,981

NET BOOK VALUE

At 30 November 2017

162,981

At 30 November 2016

162,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade debtors

127,369

150,508

Amounts owed by associates

-

117,164

Other debtors

47,363

51,677

174,732

319,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Bank loans and overdrafts

30,232

38,627

Trade creditors

264,244

276,485

Amounts owed to associates

-

71,299

Taxation and social security

59,013

6,625

Other creditors

108,902

149,339

462,391

542,375

Overdrafts are secured by a fixed and floating charge over all current and future assets of the company.

There is an unlimited debenture by way of security for the bank loan. Interest is charged on the loan at 0.85%

above the base rate.

This security applies to creditors due for repayment both within and after more than one year from the balance

sheet date.

8.	CONTROLLING PARTY

The controlling party is not known.

The company was under the control of Mr & Mrs H Hughes and Mr F McCaul throughout the period. Mr & Mrs

Hughes and Mr McCaul are directors and shareholders of the company, together with Mr M Williams.