Accounts filed on 31-07-2016


trueCedric's Chemist Limited016523092016-07-3111979408386461248711001000780143734937349386461248710501035846539288639711152276745491-8083637011946849041561038765429844220545494704143072224643912835162060360325281486143263393549890200000Basis of accounting The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, 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-Straight line over 15 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 agreements Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis. 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 have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Fixed Assets All fixed assets are initially recorded at cost. Land & BuildingsStraight line0.0149Fixtures & FittingsStraight line0.1000Motor VehiclesStraight line0.250035000035000032471930138623333706535734205475-2814538019637921622088-211080200000-20000010565351284205475-228145704915680602-2110845421Ordinary9019090Ordinary Class 21011010Ordinary1909090Ordinary Class 21101010The overdrawn director's loan accounts balance of £57623 ( 2015 £22333 ) was fully repaid to the company within 9 months of the year end.Post balance sheet eventsAfter the year end Cedric's Chemist Limited became a wholly owned subsidiary of CCM Industries Limited, a company incorporated in the UK.2017-04-27A S YeramianMrs C L MkhitarianDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureCedric's Chemist Limited2015-08-012016-07-31Cedric's Chemist Limited2014-08-012015-07-31Cedric's Chemist Limited2014-07-31Cedric's Chemist Limited2015-07-31Cedric's Chemist Limited2015-07-31Cedric's Chemist Limited2016-07-31 2017-04-28