Ozpharm Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02299269 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2014

FOR

OZPHARM LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P Oza

Mrs P Oza

SECRETARY:

Mr P Oza

REGISTERED OFFICE:

50 Lowmoor Road

Kirkby in Ashfield

Nottinghamshire

NG17 7BG

REGISTERED NUMBER:

02299269 (England and Wales)

ACCOUNTANTS:

Anderson & Co

18 Diamond Avenue

Kirkby in Ashfield

Nottinghamshire

NG17 7GR

FIXED ASSETS

Tangible assets

2

9,073

10,212

Investments

3

1,322,129

382,291

1,331,202

392,503

CURRENT ASSETS

Stocks

54,900

53,600

Debtors

377,436

396,529

Cash at bank and in hand

2,613,027

3,165,157

3,045,363

3,615,286

CREDITORS

Amounts falling due within one year

276,637

224,694

NET CURRENT ASSETS

2,768,726

3,390,592

TOTAL ASSETS LESS CURRENT LIABILITIES

4,099,928

3,783,095

PROVISIONS FOR LIABILITIES

842

934

NET ASSETS

4,099,086

3,782,161

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

4,098,986

3,782,061

SHAREHOLDERS' FUNDS

4,099,086

3,782,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 May 2015 and were signed on its behalf by:

Mr P Oza - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales value of goods and services supplied by the Company, excluding Value

Added Tax.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Fixtures and fittings

-

15% on reducing balance

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Investment properties

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation

is provided in respect of freehold properties held as investments.

This is a departure from the requirements of the Companies Act 2006 which requires all properties to be

depreciated. Such properties are held for investment and not for consumption and the directors consider that to

depreciate them would not give a true and fair view.

Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the

amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.

The directors consider that this policy results in the financial statements giving a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

58,743

Additions

470

At 31 August 2014

59,213

DEPRECIATION

At 1 September 2013

48,531

Charge for year

1,609

At 31 August 2014

50,140

NET BOOK VALUE

At 31 August 2014

9,073

At 31 August 2013

10,212

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2013

382,291

Additions

939,838

At 31 August 2014

1,322,129

NET BOOK VALUE

At 31 August 2014

1,322,129

At 31 August 2013

382,291

Fixed asset investments consist of long leasehold properties which were purchased for their investment potential.

In the opinion of Mr P Oza (Director) the open market values at 31st August,2014, were not materially different

from the historic costs.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

100

Ordinary

£1

100

100

5.	TRANSACTIONS WITH DIRECTORS