REGISTERED NUMBER: 06551681 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABBEY HOUSE PHARMACY (DAVENTRY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Taylor

N Brown

Dr P S Gardiner

SECRETARY:

C J Taylor

REGISTERED OFFICE:

Taylor Group House

Wedgnock Lane

Warwick

Warwickshire

CV34 5YA

BUSINESS ADDRESS:

Golding Close

Daventry

Northamptonshire

NN11 4FE

REGISTERED NUMBER:

06551681 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

13,089

12,906

CURRENT ASSETS

Stocks

53,710

51,504

Debtors

5

160,840

195,823

Cash at bank and in hand

189,455

175,374

404,005

422,701

CREDITORS

Amounts falling due within one year

6

273,057

256,638

NET CURRENT ASSETS

130,948

166,063

TOTAL ASSETS LESS CURRENT LIABILITIES

144,037

178,969

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

143,837

178,769

SHAREHOLDERS' FUNDS

144,037

178,969

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 Board of Directors on 15 December 2017 and were signed on its behalf by:

M J Taylor - Director

1.	STATUTORY INFORMATION

Abbey House Pharmacy (Daventry) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

July 2015 amendments to FRS102 section 1A have been applied before 1st January 2016.

Turnover

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

rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:-

NHS income

NHS income is recognised on a receipt basis. Adjustments are made for debtors to bring in income

earned but not yet received.

Over the counter (OTC) sales

OTC sales are recorded weekly by cashsheet and are therefore recognised at point of sale.

Prepayments and accrued income are recognised as appropriate. Other debtors also recognised as

appropriate.

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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Debtors and creditors receivable/payable within 1 year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2016 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

38,295

6,999

6,355

51,649

Additions

-

6,978

370

7,348

Disposals

-

(6,999

)

-

(6,999

)

At 31 March 2017

38,295

6,978

6,725

51,998

DEPRECIATION

At 1 April 2016

29,322

4,784

4,637

38,743

Charge for year

1,795

2,161

1,410

5,366

Eliminated on disposal

-

(5,200

)

-

(5,200

)

At 31 March 2017

31,117

1,745

6,047

38,909

NET BOOK VALUE

At 31 March 2017

7,178

5,233

678

13,089

At 31 March 2016

8,973

2,215

1,718

12,906

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

109,247

126,307

Other debtors

20,036

45,254

Prepayments

31,557

24,262

160,840

195,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

196,702

194,566

Tax

28,437

52,275

Social security and other taxes

4,638

4,329

Other creditors

976

656

Accrued expenses

42,304

4,812

273,057

256,638

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

12,400

13,498

Between one and five years

53,992

53,992

In more than five years

16,283

28,683

82,675

96,173

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary A

1

100

100

100

Ordinary B

1

100

100

200

200

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

STEVEN TWIGGER ACA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited