HEALTHCHEM_(BATTERSEA)_LI - Accounts

Abbreviated balance sheet

Notes to the abbreviated accounts

Director's responsibilities:

These abbreviated accounts were approved and signed by the director and authorised for issue on .

…………………………………

Paresh Kumar Babubhai Patel

Director

Company Registration Number: 04332068

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The turnover shown in the profit and loss account represents prescription services rendered and counter sales during the year, exclusive of Value Added Tax.

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Long Leasehold Property -

over 50 years

Fixtures & Fittings

-

25% on written down value

Land included in leasehold property is not depreciated

In accordance with Statement of Standard Accounting Practice No 19 - Accounting for investment properties:

Investment Properties are revalued annually by the directors at open market values. Surpluses and deficits arising and the aggregate surplus or deficit is transferred to the revaluation reserve except that any permanent diminution in the value of an investment property is taken to the profit and loss account for the year; and no depreciation is provided in respect of freehold investment properties.

This treatment, as regards certain of the company's investment properties, may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified

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

The company operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the company. The contributions to the scheme are charged to the profit and loss account as and when payable.

The company holds 50% of the issued share capital of Ultra Health Ltd, a company operating a retail pharmacy and incorporated in England and Wales. In addition to this the company owns various investment properties. In the opinion of the directors' the market value of the investment properties is £1,350,000 and these valuations have been incorporated in these financial statements.

The following liabilities disclosed under creditors falling due within one year are secured by the company:

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

The bank loans are secured by a first legal charge over the long leasehold properties, investment properties and a debenture over the company's assets.

As described on the balance sheet, the director of the company is responsible for the preparation of the abbreviated accounts for the year ended 28 February 2015.

You consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Shah Dodhia & Co

173 Cleveland Street

Chartered Accountants

London

W1T 6QR

27/11/2015