Wellington Pharmacy Limited - Accounts to registrar (filleted) - small 18.2
Wellington Pharmacy Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
| FOR |
| WELLINGTON PHARMACY LIMITED |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WELLINGTON PHARMACY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Cedargrove |
| Hagley |
| Stourbridge |
| West Midlands |
| DY9 0DR |
| BANKERS: |
| 3 Queen Square |
| Wolverhampton |
| West Midlands |
| WV1 1RF |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| BALANCE SHEET |
| 31 MARCH 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| 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. |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| BALANCE SHEET - continued |
| 31 MARCH 2019 |
| 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 its behalf by: |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 1. | STATUTORY INFORMATION |
| Wellington Pharmacy Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Fixtures, fittings & equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| Freehold | fittings |
| property | & equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2018 |
| Additions |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 5. | STOCKS |
| 2019 | 2018 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors | 31,196 | 2,270 |
| Amounts owed by group undertakings |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans (see note 9) |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| In more than five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| 12. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 46,531 | 53,250 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2018 |
| Credited during the year | (6,719 | ) |
| Balance at 31 March 2019 |
| WELLINGTON PHARMACY LIMITED (REGISTERED NUMBER: 08239118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| 'A' Ordinary | £1 | 50 | 50 |
| 'B' Ordinary | £1 | 50 | 50 |
| 100 | 100 |
| 14. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2018 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 March 2019 |
| 15. | RELATED PARTY DISCLOSURES |
| The company was under the control of Mr J S Rahania, Mr R Rahania and Mr R K Saroy throughout |
| the current and previous year as directors of the company and Nightchem Limited as the sole |
| shareholder and immediate and ultimate holding company. |
| At 31 March 2019, there was a loan to Nightchem Limited of £21,576 (2018: £49,576). This unsecured |
| loan is interest free and repayable on demand. |
| At 31 March 2019, there was a loan from Daychem Ltd of £134,541 (2018: £129,541), a company in |
| which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest |
| free and repayable on demand. |
| 16. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Nightchem Limited, a company incorporated in England and Wales. |