Redwood Health Store Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC331773 (Scotland)

Unaudited Financial Statements

For The Year Ended 30 June 2017

for

Redwood Health Store Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I Gilchrist

SECRETARY:

I Gilchrist

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

REGISTERED NUMBER:

SC331773 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

CURRENT ASSETS

Stocks

48,384

42,306

Debtors

4

96,022

84,210

Cash at bank

110,555

98,603

254,961

225,119

CREDITORS

Amounts falling due within one year

5

209,361

236,509

NET CURRENT ASSETS/(LIABILITIES)

45,600

(11,390

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,600

(11,390

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

45,599

(11,391

)

SHAREHOLDERS' FUNDS

45,600

(11,390

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 March 2018 and were signed by:

I Gilchrist - Director

1.	STATUTORY INFORMATION

Redwood Health Store 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.

Turnover

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

tax and other sales taxes.

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.

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.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders

will continue to financially support the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

70,872

62,782

Credit card

386

74

VAT

24,764

21,354

96,022

84,210

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

96,272

113,953

Tax

12,546

-

Social security and other taxes

2,512

2,063

Other creditors

90,000

115,000

Accrued expenses

8,031

5,493

209,361

236,509

6.	ULTIMATE CONTROLLING PARTY

The controlling party is I Gilchrist.