MEDS UK Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06998843 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

FOR

MEDS UK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J J Hesp

I S Woolley

SECRETARY:

J J Hesp

REGISTERED OFFICE:

151 Marton Road

Bridlington

East Yorkshire

YO16 7DJ

REGISTERED NUMBER:

06998843 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

2

760,511

731,855

Investments

3

2,769

763,280

734,624

CURRENT ASSETS

Stocks

78,411

69,488

Debtors

119,172

56,300

Cash at bank and in hand

5,959

3,033

203,542

128,821

CREDITORS

Amounts falling due within one year

335,425

258,392

NET CURRENT LIABILITIES

(131,883

)

(129,571

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

631,397

605,053

CREDITORS

Amounts falling due after more than one
year

(599,181

)

(623,817

)

PROVISIONS FOR LIABILITIES

(27,444

)

(8,027

)

NET ASSETS/(LIABILITIES)

4,772

(26,791

)

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

3,772

(27,791

)

SHAREHOLDERS' FUNDS

4,772

(26,791

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 7 July 2016 and were signed on its behalf by:

J J Hesp - Director

I S Woolley - 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 January 2015).

Turnover

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

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

-

20% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

781,251

Additions

98,578

Disposals

(67,756

)

At 30 April 2016

812,073

DEPRECIATION

At 1 May 2015

49,396

Charge for year

20,833

Eliminated on disposal

(18,667

)

At 30 April 2016

51,562

NET BOOK VALUE

At 30 April 2016

760,511

At 30 April 2015

731,855

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2016

2015

£

Racehorse syndicate

2,769

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2016 and

30 April 2015:

2016

2015

£

J J Hesp

Balance outstanding at start of year

9,393

-

Amounts advanced

-

9,393

Amounts repaid

(9,393

)

-

Balance outstanding at end of year

-

9,393