Spa Pharmacare Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC483817 (Scotland)

Financial Statements for the Year Ended 31 January 2017

for

Spa Pharmacare Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms C M Sinclair

R Bell

REGISTERED OFFICE:

Colbheinn

Victoria Road

Brora

Sutherland

KW9 6QN

REGISTERED NUMBER:

SC483817 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Intangible assets

4

95,000

190,000

Tangible assets

5

3,807

4,250

98,807

194,250

CURRENT ASSETS

Stocks

24,164

17,760

Debtors

69,140

70,889

Cash at bank and in hand

49,788

25,756

143,092

114,405

CREDITORS

Amounts falling due within one year

245,026

248,078

NET CURRENT LIABILITIES

(101,934

)

(133,673

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,127

)

60,577

CREDITORS

Amounts falling due after more than one year

79,739

107,807

NET LIABILITIES

(82,866

)

(47,230

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(82,966

)

(47,330

)

SHAREHOLDERS' FUNDS

(82,866

)

(47,230

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 August 2017 and were signed on its behalf by:

Ms C M Sinclair - Director

R Bell - Director

1.	STATUTORY INFORMATION

Spa Pharmacare Ltd is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As at 31 January 2017 the company's liabilities exceeded its assets by £82,866 (2016 - £47,230). Given the

continued support of the directors the accounts have been prepared on the going concern basis. the negative

balance has arisen due to the amortisation of goodwill on purchase.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and Fittings

-

15% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation,

impairment losses, and reversals of impairment losses (where applicable).

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2016

and 31 January 2017

285,000

AMORTISATION

At 1 February 2016

95,000

Amortisation for year

95,000

At 31 January 2017

190,000

NET BOOK VALUE

At 31 January 2017

95,000

At 31 January 2016

190,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2016

5,000

Additions

291

At 31 January 2017

5,291

DEPRECIATION

At 1 February 2016

750

Charge for year

734

At 31 January 2017

1,484

NET BOOK VALUE

At 31 January 2017

3,807

At 31 January 2016

4,250

6.	FIRST YEAR ADOPTION

The reported financial position and financial performance of the previous period are not affected by the

transition to FRS 102.