17th Century Health Food Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03347074 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

17th Century Health Food Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Pancholi

SECRETARY:

Mrs R K Pancholi

REGISTERED OFFICE:

Congress House

14 Lyon Road

Harrow

Middlesex

HA1 2EN

REGISTERED NUMBER:

03347074 (England and Wales)

FIXED ASSETS

Intangible assets

4

677,919

723,113

Tangible assets

5

32,173

30,027

710,092

753,140

CURRENT ASSETS

Stocks

6

168,482

163,975

Debtors

7

206,458

70,689

Cash at bank

160,596

140,925

535,536

375,589

CREDITORS

Amounts falling due within one year

8

464,516

477,792

NET CURRENT ASSETS/(LIABILITIES)

71,020

(102,203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

781,112

650,937

CREDITORS

Amounts falling due after more than one year

9

540,091

418,441

NET ASSETS

241,021

232,496

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11

240,921

232,396

SHAREHOLDERS' FUNDS

241,021

232,496

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 his 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.

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

The financial statements were approved by the director on 26 January 2018 and were signed by:

A Pancholi - Director

1.	STATUTORY INFORMATION

17th Century Health Food Limited 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 as modified by the revaluation of certain assets.

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 2005, is being amortised evenly over its estimated useful life of twenty 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 number of employees during the year was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

903,889

AMORTISATION

At 1 May 2016

180,776

Amortisation for year

45,194

At 30 April 2017

225,970

NET BOOK VALUE

At 30 April 2017

677,919

At 30 April 2016

723,113

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2016

15,039

87,724

8,304

16,334

127,401

Additions

-

9,976

-

167

10,143

At 30 April 2017

15,039

97,700

8,304

16,501

137,544

DEPRECIATION

At 1 May 2016

13,934

68,811

1,652

12,977

97,374

Charge for year

276

5,198

1,663

860

7,997

At 30 April 2017

14,210

74,009

3,315

13,837

105,371

NET BOOK VALUE

At 30 April 2017

829

23,691

4,989

2,664

32,173

At 30 April 2016

1,105

18,913

6,652

3,357

30,027

6.

STOCKS

30.4.17

30.4.16

£

£

Stocks

168,482

163,975

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

13,511

13,124

Other debtors

150,000

11,837

VAT

17,120

19,597

Prepayments

25,827

26,131

206,458

70,689

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

50,736

39,960

Trade creditors

319,691

329,729

Tax

16,930

21,583

Social security and other taxes

3,090

5,298

Directors' current accounts

74,069

81,222

464,516

477,792

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans - 2-5 years

540,091

418,441

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank loans

590,827

458,086

The Bank loans are secured by a Mortgage Debenture dated 28th September 2012 over 118-120 Woeley Castle

Square, Woeley Castle, Birmingham and 1-3 Pershore Road South, Cotteridge, Birmingham and by a Legal

Mortgage dated 28th September 2012 incorporating a fixed and floating charge over all current and future assets

of the company.

11.

RESERVES

Retained

earnings

£

At 1 May 2016

232,396

Profit for the year

40,125

Dividends

(31,600

)

At 30 April 2017

240,921

12.	RELATED PARTY DISCLOSURES

Director's current account credit balance of £74,069 (2016: £81,222) relates to director A Pancholi.

Included in trade debtors is £2,400 (2016: £7,200) which relates to Kings Opticians, a business owned R

Pancholi who is the wife of the director.

13.	ULTIMATE CONTROLLING PARTY

The company is under the control of A Pancholi and R Pancholi by virtue of their shareholdings.