Natures Dispensary Ltd - Limited company accounts 17.3

REGISTERED NUMBER: 03752207 (England and Wales)

Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Natures Dispensary Ltd

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Ms L K Harris

SECRETARY:

Ms T S Harris

REGISTERED OFFICE:

7 Mill Street

Oakham

Rutland

LE15 6EA

REGISTERED NUMBER:

03752207 (England and Wales)

ACCOUNTANTS:

B J Whale

Suite 1

Alban House

22A The Common

Hatfield

Hertfordshire

AL10 0ND

The director presents her report with the financial statements of the company for the year ended 30 April 2017.

DIRECTOR

Ms L K Harris held office during the whole of the period from 1 May 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Ms L K Harris - Director

29 January 2018

TURNOVER

293,122

291,330

Cost of sales

178,364

176,331

GROSS PROFIT

114,758

114,999

Distribution costs

3,706

3,910

Administrative expenses

81,540

81,825

85,246

85,735

29,512

29,264

Other operating income

609

1,370

OPERATING PROFIT

4

30,121

30,634

Interest receivable and similar income

6

8

PROFIT BEFORE TAXATION

30,127

30,642

Tax on profit

7,387

7,455

PROFIT FOR THE FINANCIAL YEAR

22,740

23,187

FIXED ASSETS

Intangible assets

5

1,000

8,000

Tangible assets

6

2

2

1,002

8,002

CURRENT ASSETS

Stocks

19,011

19,128

Debtors

7

17,022

10,352

Cash at bank and in hand

30,793

33,378

66,826

62,858

CREDITORS

Amounts falling due within one year

8

24,806

26,578

NET CURRENT ASSETS

42,020

36,280

TOTAL ASSETS LESS CURRENT LIABILITIES

43,022

44,282

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

43,020

44,280

43,022

44,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 January 2018 and were signed by:

Ms L K Harris - Director

1.	STATUTORY INFORMATION

Natures Dispensary Ltd is a private company, limited by shares , registered in England and Wales. 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.

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 0, is being amortised evenly over its estimated useful life of nil 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 cost

Computer equipment

-

20% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 2 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2017

2016

£

£

Goodwill amortisation

7,000

8,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

120,000

AMORTISATION

At 1 May 2016

112,000

Charge for year

7,000

At 30 April 2017

119,000

NET BOOK VALUE

At 30 April 2017

1,000

At 30 April 2016

8,000

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2016

and 30 April 2017

900

5,606

6,506

DEPRECIATION

At 1 May 2016

and 30 April 2017

899

5,605

6,504

NET BOOK VALUE

At 30 April 2017

1

1

2

At 30 April 2016

1

1

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

15,522

8,852

Other debtors

1,500

1,500

17,022

10,352

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

4,570

3,671

Taxation and social security

7,948

8,317

Other creditors

12,288

14,590

24,806

26,578