Company Registration No. 07132827 (England and Wales)
GO GO CHEMIST LIMITED
Unaudited accounts
for the year ended 31 January 2017
GO GO CHEMIST LIMITED
Unaudited accounts
Contents
GO GO CHEMIST LIMITED
Company Information
for the year ended 31 January 2017
Company Number
07132827 (England and Wales)
Registered Office
12 Pembridge Road
London
W11 3HL
ENGLAND
GO GO CHEMIST LIMITED
Statement of financial position
as at 31 January 2017
Intangible assets
9,286
11,382
Tangible assets
16,475
10,547
Cash at bank and in hand
166,434
161,947
Creditors: amounts falling due within one year
(266,612)
(192,399)
Net current assets
44,183
120,344
Total assets less current liabilities
69,944
142,273
Creditors: amounts falling due after more than one year
(53,067)
(101,569)
Provisions for liabilities
Deferred tax
(3,296)
(2,110)
Called up share capital
100
100
Profit and loss account
13,481
38,494
Shareholders' funds
13,581
38,594
For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 October 2017.
NAVID MASOUD
Director
Company Registration No. 07132827
GO GO CHEMIST LIMITED
Notes to the Accounts
for the year ended 31 January 2017
GO GO CHEMIST LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07132827. The registered office and principal place of business is 12 Pembridge Road, London, W11 3HL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Goodwill & lease premium are being written off in equal annual instalments over their estimated economic life of 10 years. Goodwill and Lease were acquired prior to 8th July 15.
During the year dividends of £150,000 were allocated to shareholders (2016: £80,000)
GO GO CHEMIST LIMITED
Notes to the Accounts
for the year ended 31 January 2017
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Finished goods
75,328
73,123
Accrued income and prepayments
46,000
30,361
Other debtors
21,304
38,767
GO GO CHEMIST LIMITED
Notes to the Accounts
for the year ended 31 January 2017
8
Creditors: amounts falling due within one year
2017
2016
Trade creditors
137,187
109,239
Taxes and social security
30,624
24,634
Proposed dividends
90,000
50,000
Other creditors
8,801
8,526
9
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
53,067
101,569
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 8 (2016: 10).
