KLUB PHARMACY LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01923810 (England and Wales)

Financial Statements

for the Year Ended 31st March 2020

for

KLUB PHARMACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K D Patel

K K Patel

Mrs A Patel

SECRETARY:

REGISTERED OFFICE:

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

REGISTERED NUMBER:

01923810 (England and Wales)

ACCOUNTANTS:

Attenboroughs (Accountants) Limited

Chartered Certified Accountants

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

FIXED ASSETS

Tangible assets

4

225,000

225,000

CURRENT ASSETS

Stocks

62,304

55,150

Debtors

5

16,341

8,951

Cash at bank and in hand

115,035

108,601

193,680

172,702

CREDITORS

Amounts falling due within one year

6

21,762

17,195

NET CURRENT ASSETS

171,918

155,507

TOTAL ASSETS LESS CURRENT LIABILITIES

396,918

380,507

CAPITAL AND RESERVES

Called up share capital

7

5

5

Retained earnings

396,913

380,502

SHAREHOLDERS' FUNDS

396,918

380,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 29th September 2020 and were signed on its behalf by:

K K Patel - Director

K D Patel - Director

1.	STATUTORY INFORMATION

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

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

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

Plant and machinery

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST

At 1st April 2019

and 31st March 2020

125,000

100,000

32,348

257,348

DEPRECIATION

At 1st April 2019

and 31st March 2020

-

-

32,348

32,348

NET BOOK VALUE

At 31st March 2020

125,000

100,000

-

225,000

At 31st March 2019

125,000

100,000

-

225,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/20

31/3/19

£

£

VAT

16,341

8,951

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/20

31/3/19

£

£

Trade creditors

3,003

-

Tax

8,446

11,382

Social security and other taxes

726

(161

)

Other creditors

3,039

3,039

Directors' current accounts

488

735

Accrued expenses

6,060

2,200

21,762

17,195

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/20

31/3/19

value:

£

£

2

Ordinary

£1

2

2

2

Ordinary R

£1

1

1

1

Ordinary K

£1

2

2

5

5

8.	ULTIMATE CONTROLLING PARTY

The controlling party is K K Patel.