Omega Chemist Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07850394 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

FOR

OMEGA CHEMIST LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Mehta

SECRETARY:

Mrs A G Mehta

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

REGISTERED NUMBER:

07850394 (England and Wales)

ACCOUNTANTS:

Lemans

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Intangible assets

2

233,200

247,775

Tangible assets

3

240

300

233,440

248,075

CURRENT ASSETS

Stocks

46,358

36,800

Debtors

66,368

61,254

Cash at bank and in hand

4,312

5,248

117,038

103,302

CREDITORS

Amounts falling due within one year

135,631

197,082

NET CURRENT LIABILITIES

(18,593

)

(93,780

)

TOTAL ASSETS LESS CURRENT LIABILITIES

214,847

154,295

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

214,747

154,195

SHAREHOLDERS' FUNDS

214,847

154,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 January 2016 and were signed by:

G Mehta - 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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Fixtures and fittings

-

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.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

291,500

AMORTISATION

At 1 September 2014

43,725

Amortisation for year

14,575

At 31 August 2015

58,300

NET BOOK VALUE

At 31 August 2015

233,200

At 31 August 2014

247,775

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

551

DEPRECIATION

At 1 September 2014

251

Charge for year

60

At 31 August 2015

311

NET BOOK VALUE

At 31 August 2015

240

At 31 August 2014

300

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

£

100

Ordinary

£1

100

100