Six Ways Birmingham Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07163142 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2021

for

Six Ways Birmingham Ltd

T/A

Zenith Pharmacy

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs Batul A Roowala

Mr Abbas J H Roowala

REGISTERED OFFICE:

Zenith Pharmacy

7 Birchfield Road

Birmingham

West Midlands

B19 1SU

REGISTERED NUMBER:

07163142 (England and Wales)

ACCOUNTANTS:

SKN Services Ltd

Chartered Accountants

SKN Business Centre

1 Guildford Street

Birmingham

West Midlands

B19 2HN

FIXED ASSETS

Tangible assets

4

44,061

43,595

CURRENT ASSETS

Stocks

12,100

10,094

Debtors

5

150,894

157,481

Cash at bank and in hand

183,686

153,261

346,680

320,836

CREDITORS

Amounts falling due within one year

6

209,989

294,401

NET CURRENT ASSETS

136,691

26,435

TOTAL ASSETS LESS CURRENT LIABILITIES

180,752

70,030

CREDITORS

Amounts falling due after more than one year

7

50,000

-

NET ASSETS

130,752

70,030

CAPITAL AND RESERVES

Called up share capital

16

16

Retained earnings

130,736

70,014

SHAREHOLDERS' FUNDS

130,752

70,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 25 January 2022 and were signed on its behalf by:

Mr Abbas J H Roowala - Director

Mrs Batul A Roowala - Director

1.	STATUTORY INFORMATION

Six Ways Birmingham Ltd 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 reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 March 2020

37,590

9,773

21,877

Additions

-

-

-

At 28 February 2021

37,590

9,773

21,877

DEPRECIATION

At 1 March 2020

18,795

6,270

13,835

Charge for year

(3,759

)

700

1,608

At 28 February 2021

15,036

6,970

15,443

NET BOOK VALUE

At 28 February 2021

22,554

2,803

6,434

At 29 February 2020

18,795

3,503

8,042

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2020

38,718

-

107,958

Additions

-

2,083

2,083

At 28 February 2021

38,718

2,083

110,041

DEPRECIATION

At 1 March 2020

25,463

-

64,363

Charge for year

2,651

417

1,617

At 28 February 2021

28,114

417

65,980

NET BOOK VALUE

At 28 February 2021

10,604

1,666

44,061

At 29 February 2020

13,255

-

43,595

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade debtors

88,791

118,077

Other debtors

62,103

39,404

150,894

157,481

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade creditors

62,138

82,692

Taxation and social security

17,784

10,241

Other creditors

130,067

201,468

209,989

294,401

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.21

29.2.20

£

£

Bank loans

50,000

-

8.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr. Mr Abbas J H Roowala and Mrs. Batul Abbas Roowala throughout the current period.