Accounts Submission
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Company Registration Number:
08104635
(England and Wales)
Unaudited statutory accounts for the year ended 31 March 2017
Period of accounts
Start date: 01 April 2016
End date: 31 March 2017
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Contents of the Financial Statements
for the Period Ended 31 March 2017
| Company Information - 3 | |
| Report of the Directors - 4 | |
| Profit and Loss Account - 5 | |
| Balance sheet - 6 | |
| Additional notes - 8 | |
| Balance sheet notes - 9 |
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Company Information
for the Period Ended 31 March 2017
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BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Directors' Report Period Ended 31 March 2017
The directors present their report with the financial statements of the company for the period ended 31 March 2017
Principal Activities
Political and charitable donations
Directors
The directors shown below have held office during the whole of the period from 01 April 2016 to 31 March 2017
The director(s) shown below were appointed to the company during the period
The director(s) shown below resigned during the period
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Profit and Loss Account
for the Period Ended 31 March 2017
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2016 £ |
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| Turnover |
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| Cost of sales |
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| Gross Profit or (Loss) |
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| Distribution Costs |
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| Administrative Expenses |
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| Operating Profit or (Loss) |
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| Interest Payable and Similar Charges |
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| Profit or (Loss) Before Tax |
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| Tax on Profit |
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| Profit or (Loss) for Period |
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The notes form part of these financial statements
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Balance sheet
As at
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2016 £ |
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| Fixed assets | |||
| Current assets | |||
| Stocks: |
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| Debtors: | 2 |
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| Cash at bank and in hand: |
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| Total current assets: |
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| Prepayments and accrued income: |
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| Creditors: amounts falling due within one year: | 3 |
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: | 4 |
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| Total net assets (liabilities): |
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The notes form part of these financial statements
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Balance sheet continued
As at 31 March 2017
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2017 £ |
2016 £ |
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| Capital and reserves | |||
| Called up share capital: |
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| Profit and loss account: |
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| Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2017
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1. Accounting policies
Basis of measurement and preparation
The financial statements have been prepared and approved by the directors in accordance with International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and IFRIC interpretations issued and effective and ratified by the European Union as at 31 March 2017. There has been no impact on the accounts as a result of the adoption of new standards throughout the year. Turnover policy
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes. Revenue is recognised in the period the work is undertaken.
The main source of income for BCH Pharmacy is from the Trust in respect of the provision of an outpatient prescribing service.
The only other source of income is from retail sales of pharmaceutical itemsValuation information and policy
Inventories are valued at the lower of cost and net realisable value. Pharmacy stocks are valued using a weighted average cost method and includes expenditure incurred acquiring the inventories and other costs in bringing them to their existing location and condition. This is considered to be a reasonable approximation to fair value due to the high turnover of stocks.
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2017
2. Debtors
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| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Total |
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BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2017
3.Creditors: amounts falling due within one year note
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| Bank loans and overdrafts |
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| Accruals and deferred income |
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| Other creditors |
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| Total |
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BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2017
4.Creditors: amounts falling due after more than one year
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Loan repayments for the year were £100,000 (year ended 31 March 2015: £100,000).
Amounts repayable to related parties of the Company carry interest of 7% per annum, charged on the closing quarterly balance and paid quarterly in advance. The interest rate is fixed for two years. After the fixed period the interest rate is subject to an annual review and is to remain a minimum of 5% above average term deposit rate achievable to the Lender within safe harbour investments.
BIRMINGHAM CHILDREN'S HOSPITAL PHARMACY LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2017
5.1.Related party disclosures
| Name of related party: |
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| Description of relationship: | |
| The company is a wholly owned subsidiary of Birmingham Children’s Hospital Health Services Ltd which is a wholly owned subsidiary of Birmingham Women’s and Children’s NHS FT | |
| Description of the transaction: | |
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| Balance at 01 April 2016 |
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| Balance at 31 March 2017 |
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David Melbourne, Alan Edwards, Roger Peace, Paul Heaven, Marianne Skelcher
During the year the following directors were also directors of the intermediary parent - the Trust:
David Melbourne, Alan Edwards, Roger Peace, Marianne Skelcher
During the year the company has had a significant number of transactions with Birmingham Women’s and Children’s NHS Foundation Trust