Austinoma Chemist Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06271526 (England and Wales)

AUSTINOMA CHEMIST LIMITED

ABBREVIATED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Achunine

Mrs Achunine

REGISTERED OFFICE:

19/21 Swan Street

West Malling

Kent

ME19 6JU

REGISTERED NUMBER:

06271526 (England and Wales)

ACCOUNTANTS:

Perrys Accountants Limited

Chartered Accountants

19-21 Swan Street

West Malling

Kent

ME19 6JU

FIXED ASSETS

Intangible assets

2

200,000

225,000

CURRENT ASSETS

Stocks

55,000

27,000

Debtors

36,849

3,255

Cash at bank and in hand

29,167

10,015

121,016

40,270

CREDITORS

Amounts falling due within one year

312,444

262,300

NET CURRENT LIABILITIES

(191,428

)

(222,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,572

2,970

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

8,570

2,968

SHAREHOLDERS' FUNDS

8,572

2,970

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 30 January 2017 and were signed on its behalf by:

A Achunine - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 May 2015

and 30 April 2016

250,000

AMORTISATION

At 1 May 2015

25,000

Amortisation for year

25,000

At 30 April 2016

50,000

NET BOOK VALUE

At 30 April 2016

200,000

At 30 April 2015

225,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

1

1

1

1

Ordinary A

1

1

1

2

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES