Hugh Lloyd Pharmacy Limited Small abbreviated accounts

HUGH LLOYD PHARMACY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 08694506

HUGH LLOYD PHARMACY LIMITED

ABBREVIATED ACCOUNTS

31 March 2016

ELLIOT, WOOLFE & ROSE

Chartered Accountants

Equity House

128-136 High Street

Edgware

Middlesex

HA8 7TT

HUGH LLOYD PHARMACY LIMITED

ABBREVIATED BALANCE SHEET

31 March 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Intangible assets			440,000	495,000
Tangible assets			2,176	2,719
			----------	----------
			442,176	497,719
			----------	----------

CURRENT ASSETS

Stocks	25,045		26,279
Debtors	77,164		83,423
Cash at bank and in hand	36,732		71,551
	----------		----------
	138,941		181,253
CREDITORS: Amounts falling due within one year	583,441		687,431
	----------		----------
NET CURRENT LIABILITIES		( 444,500)	( 506,178)
		----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		( 2,324)	( 8,459)
		----------	----------

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		( 2,424)	( 8,559)
		-------	-------
DEFICIT		( 2,324)	( 8,459)
		-------	-------

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 20 December 2016 .

Mr A J Cristal Director

Company Registration Number: 08694506

HUGH LLOYD PHARMACY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 MARCH 2016

1. ACCOUNTING POLICIES

Basis of accounting

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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-Amortised evenly over its estimated useful life of 10 years

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings- 20% per annum 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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2. FIXED ASSETS

Intangible Assets	Tangible Assets	Total
£	£	£

COST

At 1 April 2015 and 31 March 2016	550,000	3,399	553,399
	----------	-------	----------

DEPRECIATION

At 1 April 2015	55,000	680	55,680
Charge for year	55,000	543	55,543
	----------	-------	----------
At 31 March 2016	110,000	1,223	111,223
	----------	-------	----------

NET BOOK VALUE

At 31 March 2016	440,000	2,176	442,176
	----------	-------	----------

At 31 March 2015	495,000	2,719	497,719
	----------	-------	----------

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

4. ULTIMATE PARENT COMPANY

This company is fully owned subsidiary of AJC Pharmacy Holdings Limited , a company registered in the United Kingdom.