CALDER_PHARMACY_LIMITED - Accounts

CALDER PHARMACY LIMITED - Company Information

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Company Registration No. SC268645 (Scotland)

CALDER PHARMACY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

CALDER PHARMACY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

CALDER PHARMACY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

116,800

131,400

Tangible assets

7,407

8,360

Investments

20,500

8,000

144,707

147,760

Current assets

Stocks

18,742

17,245

Deferred tax asset

Debtors: amounts falling due within one year

208,451

108,484

Debtors: amounts falling due after more than one year

160,000

183,000

Cash at bank and in hand

157,306

51,829

544,499

360,558

Creditors: amounts falling due within one year

(178,137)

(55,708)

Net current assets

366,362

304,850

Total assets less current liabilities

511,069

452,610

Creditors: amounts falling due after more than one year

(79,701)

(84,625)

Provisions for liabilities

Deferred tax liability

(1,104)

(1,361)

430,264

366,624

Capital and reserves

Called up share capital

1,000

Revaluation reserve

950

Profit and loss account

428,314

365,624

Shareholders' funds

430,264

366,624

CALDER PHARMACY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2016

- 2 -

For the financial year ended 31 August 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 21 February 2017

Mr C Shanks

Director

Company Registration No. SC268645

CALDER PHARMACY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.4

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2004, is being amortised evenly over its useful life of twenty years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% on reducing balance

1.6

Investments

Fixed asset investments are held at current valuation.

1.7

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

CALDER PHARMACY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost or valuation

At 1 September 2015

292,000

28,739

8,000

328,739

Additions

355

12,500

12,855

At 31 August 2016

292,000

29,094

20,500

341,594

Depreciation

At 1 September 2015

160,600

20,380

180,980

Charge for the year

14,600

1,307

15,907

At 31 August 2016

175,200

21,687

196,887

Net book value

At 31 August 2016

116,800

7,407

20,500

144,707

At 31 August 2015

131,400

8,360

8,000

147,760

The unlisted investments is made up of the following investments:

- 500 £1 Ordinary Shares in Albapharm which are valued at £500

- 20 Ordinary Shares in SHC Pharmacy Limited which are valued at £7,500

- 12.5 ounces of gold valued at £12,500

Debtors

Debtors include an amount of £160,000 (2015 - £183,000) which is due after more than one year.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £84,557 (2015 - £89,414).

The Royal Bank of Scotland PLC has a bond and floating charge over the undertaking and all property and assets present and future.

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000

CALDER PHARMACY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 5 -

Transactions with directors

Included in other debtors is a balance owed by Mr Charles Shanks of £184,400 (2015: £193,183). Interest at the average official rate was charged. Of this balance, £160,000 is considered to be long term in nature.