Woods Chemist Limited - Abbreviated accounts 16.1

Woods Chemist Limited - Abbreviated accounts 16.1

WOODS CHEMIST LIMITED - Company Information

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REGISTERED NUMBER: 02454215 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Woods Chemist Limited

Woods Chemist Limited (Registered number: 02454215)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Woods Chemist Limited

Company Information
for the Year Ended 31 March 2016







DIRECTORS: J S Bhogal
R S Chana





SECRETARY:





REGISTERED OFFICE: 121 High Street
Willesden
London
NW10 2SL





REGISTERED NUMBER: 02454215 (England and Wales)





ACCOUNTANT: P S Nagarajah B.Sc., F.C.A.
Chartered Accountant & Registered Auditor
64 Oakington Avenue
Wembley
Middlesex
HA9 8HZ
Page 1
Woods Chemist Limited (Registered number: 02454215)

Abbreviated Balance Sheet
31 March 2016

Notes £    £   
FIXED ASSETS
Intangible assets 2 55,415
Tangible assets 3 72,579
127,994

CURRENT ASSETS
Stocks 51,254
Debtors 653,439
Cash at bank and in hand 21,302
725,995
CREDITORS
Amounts falling due within one
year
101,892
NET CURRENT ASSETS 624,103
TOTAL ASSETS LESS CURRENT
LIABILITIES
752,097

CAPITAL AND RESERVES
Called up share capital 4 100
Profit and loss account 751,997
SHAREHOLDERS' FUNDS 752,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 December 2016
and were signed on its behalf by:





J S Bhogal - Director


The notes form part of these abbreviated accounts

Page 2
Woods Chemist Limited (Registered number: 02454215)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


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. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 56,074
AMORTISATION
Amortisation for year 659
At 31 March 2016 659
NET BOOK VALUE

At 31 March 2016 55,415
At 31 March 2015 56,074

Page 3 continued...
Woods Chemist Limited (Registered number: 02454215)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 25,763
Additions 48,384
At 31 March 2016 74,147
DEPRECIATION
Charge for year 1,568
At 31 March 2016 1,568
NET BOOK VALUE
At 31 March 2016 72,579
At 31 March 2015 25,763

4. CALLED UP SHARE CAPITAL

Page 4