Abbreviated Company Accounts - GOES PHARMACY LTD

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Registered Number 04984534

GOES PHARMACY LTD

Abbreviated Accounts

31 December 2015

GOES PHARMACY LTD Registered Number 04984534

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	276,750	307,500
Tangible assets	3	5,636	7,515
		282,386	315,015
Current assets
Stocks		31,698	34,471
Debtors		126,325	126,364
Cash at bank and in hand		496,905	407,381
		654,928	568,216
Creditors: amounts falling due within one year		(115,726)	(116,677)
Net current assets (liabilities)		539,202	451,539
Total assets less current liabilities		821,588	766,554
Provisions for liabilities		(961)	(1,300)
Total net assets (liabilities)		820,627	765,254
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		820,625	765,252
Shareholders' funds		820,627	765,254

For the year ending 31 December 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 28 September 2016

And signed on their behalf by:
Krishna Patel, Director

GOES PHARMACY LTD Registered Number 04984534

Notes to the Abbreviated Accounts for the period ended 31 December 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 value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Furniture, fittings and equipment 25% reducing balance

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

Other accounting policies
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Intangible fixed assets

	£
Cost
At 1 January 2015	615,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	615,000
Amortisation
At 1 January 2015	307,500
Charge for the year	30,750
On disposals	-
At 31 December 2015	338,250
Net book values
At 31 December 2015	276,750
At 31 December 2014	307,500

3Tangible fixed assets

	£
Cost
At 1 January 2015	33,957
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	33,957
Depreciation
At 1 January 2015	26,442
Charge for the year	1,879
On disposals	-
At 31 December 2015	28,321
Net book values
At 31 December 2015	5,636
At 31 December 2014	7,515

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

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2

5Transactions with directors

Name of director receiving advance or credit:	John Goes
Description of the transaction:	Short term loan
Balance at 1 January 2015:	£ 20,844
Advances or credits made:	£ 27,728
Advances or credits repaid:	£ 32,000
Balance at 31 December 2015:	£ 16,572

Mr John Goes sold his shares in the company with effect from 31 December 2015 and resigned his directorship on 4 January 2016. The amount due by him was paid in full on 28 September 2016.