Eastware Pharmacy Limited
Eastware Pharmacy Limited
Registered number: 02904997
Unaudited ABRIDGED Financial Statements
For The Year Ended
30 April 2021
Morris Wheeler & Co Limited
1 Pond Lane
Bentfield Road
Stansted
Essex
CM24 8JG
Eastware Pharmacy Limited
Unaudited Financial Statements
For The Year Ended
30 April 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 2—3 |
| Notes to the Abridged Financial Statements | 4—6 |
Eastware Pharmacy Limited
Abridged Balance Sheet
As at
30 April 2021
Abridged Balance Sheet
Registered number:
02904997
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | (46,667) | - | |||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,191,451 | 1,094,355 | |||
Eastware Pharmacy Limited
Abridged Balance Sheet (continued)
As at
30 April 2021
Directors' responsibilities:
-
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. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2021 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
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Director
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The notes on pages 4 to 6 form part of these financial statements.
Eastware Pharmacy Limited
Notes to the Abridged Financial Statements
For The Year Ended
30 April 2021
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is reduced for customer returns, rebates and other similar allowances.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of twenty years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 13 (2020: 13)
Eastware Pharmacy Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 April 2021
3.
Intangible Assets
| Total | |||
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| £ | |||
| Cost | |||
| As at
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| Amortisation | |||
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| Net Book Value | |||
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4.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
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| Additions |
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| Disposals |
( |
| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| Disposals |
( |
| As at
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| Net Book Value | |
| As at
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6.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | Other | |||
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Within 1 year | 19,750 | 19,750 | 13,446 | 9,134 |
| Between 1 and 5 years | 137,500 | 157,250 | 2,241 | - |
| 157,250 | 177,000 | 15,687 | 9,134 | |
Eastware Pharmacy Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 April 2021
7.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Dilip Shukla |
( |
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- |
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The above loan is unsecured, interest free and was repaid within 9 months of the balance sheet date..
8.
General Information
Eastware Pharmacy Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02904997
. The registered office is 2b East Street, Ware, Hertfordshire, SG12 9HJ.
The presentation currency of the financial statements is in Pound Sterling (£).