ILA POTHECARY LIMITED

ILA POTHECARY LIMITED

ILA POTHECARY LIMITED - Company Information

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ILA POTHECARY LIMITED

Company Registration Number:
11367080 (England and Wales)

Unaudited abridged accounts for the year ended 30 October 2019

Period of accounts

Start date: 17 May 2018

End date: 30 October 2019

ILA POTHECARY LIMITED

Contents of the Financial Statements

for the Period Ended 30 October 2019

Balance sheet
Notes

ILA POTHECARY LIMITED

Balance sheet

As at 30 October 2019


Notes
17 months to 30 October 2019


£
Fixed assets
Intangible assets: 3 160,500
Tangible assets: 4 8,118
Total fixed assets: 168,618
Current assets
Stocks: 23,118
Debtors:   28,470
Cash at bank and in hand: 32,305
Total current assets: 83,893
Creditors: amounts falling due within one year:   (111,677)
Net current assets (liabilities): (27,784)
Total assets less current liabilities: 140,834
Creditors: amounts falling due after more than one year:   (150,000)
Total net assets (liabilities): (9,166)
Capital and reserves
Called up share capital: 113
Share premium account: 199,987
Profit and loss account: (209,266)
Shareholders funds: (9,166)

The notes form part of these financial statements

ILA POTHECARY LIMITED

Balance sheet statements

For the year ending 30 October 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 January 2020
and signed on behalf of the board by:

Name: Efstratios CHATZIGIANNIS
Status: Director

The notes form part of these financial statements

ILA POTHECARY LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion.

Tangible fixed assets and depreciation policy

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Plant & machinery 25% Fixtures & fittings 25% Computer equipment 25%

Intangible fixed assets and amortisation policy

Intangible fixed assets are included at cost less amortisation. Intellectual Property Rights, Website and goodwill have been amortised over 10 years.

Other accounting policies

The company has considerable financial resources together with a diverse range of contracts with a number of customers and suppliers across specialities. As a consequences, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. After making enquiries, the directors have a reasonable expectation that the company have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

ILA POTHECARY LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2019

2. Employees

17 months to 30 October 2019
Average number of employees during the period 0

ILA POTHECARY LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2019

3. Intangible Assets

Total
Cost £
Additions 178,333
At 30 October 2019 178,333
Amortisation
Charge for year 17,833
At 30 October 2019 17,833
Net book value
At 30 October 2019 160,500

ILA POTHECARY LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2019

4. Tangible Assets

Total
Cost £
Additions 10,824
At 30 October 2019 10,824
Depreciation
Charge for year 2,706
At 30 October 2019 2,706
Net book value
At 30 October 2019 8,118