Ritechem Pharmacy Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00639801 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2015

for

RITECHEM PHARMACY LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr V K Hindocha

Mrs H V Hindocha

SECRETARY:

Mr V K Hindocha

REGISTERED OFFICE:

5 Theobald Court

Theobald Street

Elstree

Hertfordshire

WD6 4RN

REGISTERED NUMBER:

00639801 (England and Wales)

ACCOUNTANTS:

Sterling Associates

Chartered Accountants

5 Theobald Court

Theobald Street

Elstree

Hertfordshire

WD6 4RN

BANKERS:

National Westminster Bank Plc

Surbiton Branch

10 Victoria Road

Surbiton

Surrey

KT6 4JY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of

Ritechem Pharmacy Limited for the year ended 31 October 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related

notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ritechem Pharmacy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ritechem Pharmacy Limited and state those matters that we have agreed to state to the Board of Directors of Ritechem Pharmacy Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ritechem Pharmacy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ritechem Pharmacy Limited. You consider that Ritechem Pharmacy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ritechem Pharmacy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling Associates

Chartered Accountants

5 Theobald Court

Theobald Street

Elstree

Hertfordshire

WD6 4RN

19 May 2016

FIXED ASSETS

Intangible assets

2

1

Tangible assets

3

66,096

78,523

Investments

4

34,637

76,249

100,734

154,773

CURRENT ASSETS

Stocks

131,405

149,926

Debtors

241,169

258,935

Cash at bank and in hand

60,929

64,130

433,503

472,991

CREDITORS

Amounts falling due within one year

230,366

227,754

NET CURRENT ASSETS

203,137

245,237

TOTAL ASSETS LESS CURRENT LIABILITIES

303,871

400,010

PROVISIONS FOR LIABILITIES

9,203

10,907

NET ASSETS

294,668

389,103

CAPITAL AND RESERVES

Called up share capital

5

25,371

Revaluation reserve

21,204

Capital redemption reserve

6,481

Profit and loss account

241,612

336,047

SHAREHOLDERS' FUNDS

294,668

389,103

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 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 Board of Directors on 19 May 2016 and were signed on its behalf by:

Mr V K Hindocha - 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

Pharmacy Licences, being the amount paid in connection with the acquisition of a business in 1990, is being amortised evenly over its estimated useful life of ten 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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 the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are shown at cost less any provision for impairment.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

121,345

AMORTISATION

At 1 November 2014

and 31 October 2015

121,344

NET BOOK VALUE

At 31 October 2015

1

At 31 October 2014

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

323,187

DEPRECIATION

At 1 November 2014

244,664

Charge for year

12,427

At 31 October 2015

257,091

NET BOOK VALUE

At 31 October 2015

66,096

At 31 October 2014

78,523

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2014

76,249

Additions

473

Disposals

(44,542

)

Reclassification/transfer

2,457

At 31 October 2015

34,637

NET BOOK VALUE

At 31 October 2015

34,637

At 31 October 2014

76,249

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

25,371

Ordinary

£1

25,371

6.	ULTIMATE CONTROLLER

The shareholders are the ultimate controllers of the company as they hold all the issued share capital.