Abbreviated Company Accounts - MI PHARMACY LIMITED

MI PHARMACY LIMITED - Company Information

07694589 MI PHARMACY LIMITED 2015-09-30 false 2014-10-01 2015-09-30 true 07694589 2014-10-01 2015-09-30 07694589 2015-09-30 07694589 2014-09-30 07694589 uk-gaap-cd-bus:Director1 2014-10-01 2015-09-30 07694589 uk-gaap-cd-bus:Director2 2014-10-01 2015-09-30 uk-gaap-cd-bus:Director3 2014-10-01 2015-09-30 uk-gaap-cd-bus:Director3 2015-09-30 uk-gaap-cd-bus:Director3 2014-09-30 uk-gaap-cd-bus:Director4 2014-10-01 2015-09-30 uk-gaap-cd-bus:Director4 2015-09-30 uk-gaap-cd-bus:Director4 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 iso4217:GBP shares

Registered Number 07694589

MI PHARMACY LIMITED

Abbreviated Accounts

30 September 2015

MI PHARMACY LIMITED Registered Number 07694589

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	817,864	868,980
Tangible assets	3	62,555	36,567
		880,419	905,547
Current assets
Stocks		103,594	95,032
Debtors		894,586	865,229
Cash at bank and in hand		64,507	69,238
		1,062,687	1,029,499
Creditors: amounts falling due within one year		(693,813)	(620,332)
Net current assets (liabilities)		368,874	409,167
Total assets less current liabilities		1,249,293	1,314,714
Creditors: amounts falling due after more than one year		(497,294)	(595,587)
Provisions for liabilities		(11,673)	(6,291)
Total net assets (liabilities)		740,326	712,836
Capital and reserves
Called up share capital	4	1,000	1,000
Share premium account		716,721	716,721
Profit and loss account		22,605	(4,885)
Shareholders' funds		740,326	712,836

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 March 2016

And signed on their behalf by:
Murtuza Broachwalla, Director

MI PHARMACY LIMITED Registered Number 07694589

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
FF & equipment - 20% Straight line
Motor Vehicles - 20% Straight line

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets

	£
Cost
At 1 October 2014	1,022,329
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	1,022,329
Amortisation
At 1 October 2014	153,349
Charge for the year	51,116
On disposals	-
At 30 September 2015	204,465
Net book values
At 30 September 2015	817,864
At 30 September 2014	868,980

3Tangible fixed assets

	£
Cost
At 1 October 2014	59,173
Additions	42,865
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	102,038
Depreciation
At 1 October 2014	22,606
Charge for the year	16,877
On disposals	-
At 30 September 2015	39,483
Net book values
At 30 September 2015	62,555
At 30 September 2014	36,567

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000

5Transactions with directors

Name of director receiving advance or credit:	Murtuza Broachwalla
Description of the transaction:	Interest free loans
Balance at 1 October 2014:	£ 92,089
Advances or credits made:	-
Advances or credits repaid:	£ 23,725
Balance at 30 September 2015:	£ 68,364

Name of director receiving advance or credit:	Batul Murtuza
Description of the transaction:	Interest free loans
Balance at 1 October 2014:	£ 92,089
Advances or credits made:	-
Advances or credits repaid:	£ 23,725
Balance at 30 September 2015:	£ 68,364