REGISTERED NUMBER: 03698954 (England and Wales)

A & M PHARMACIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A L Hindocha

Mrs M A Hindocha

SECRETARY:

Mrs M A Hindocha

REGISTERED OFFICE:

126 Sutherland Avenue

Coventry

West Midlands

CV5 7NJ

REGISTERED NUMBER:

03698954 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

240,156

278,974

CURRENT ASSETS

Stocks

101,958

103,223

Debtors

5

1,043,207

537,245

Cash at bank and in hand

88,538

467,273

1,233,703

1,107,741

CREDITORS

Amounts falling due within one year

6

444,581

420,730

NET CURRENT ASSETS

789,122

687,011

TOTAL ASSETS LESS CURRENT LIABILITIES

1,029,278

965,985

PROVISIONS FOR LIABILITIES

7

15,211

17,252

NET ASSETS

1,014,067

948,733

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,013,967

948,633

SHAREHOLDERS' FUNDS

1,014,067

948,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 July 2018 and were signed on its behalf by:

Mr A L Hindocha - Director

1.	STATUTORY INFORMATION

A & M Pharmacies 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 October 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 November 2015.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% 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.

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.

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 30 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 November 2016

318,688

42,315

458,995

At 31 October 2017

318,688

42,315

458,995

DEPRECIATION

At 1 November 2016

193,163

31,801

340,982

Charge for year

18,829

1,578

17,702

Eliminated on disposal

-

-

-

At 31 October 2017

211,992

33,379

358,684

NET BOOK VALUE

At 31 October 2017

106,696

8,936

100,311

At 31 October 2016

125,525

10,514

118,013

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2016

20,889

64,173

905,060

Additions

6,490

-

6,490

Disposals

(19,389

)

-

(19,389

)

At 31 October 2017

7,990

64,173

892,161

DEPRECIATION

At 1 November 2016

18,693

41,447

626,086

Charge for year

1,633

3,409

43,151

Eliminated on disposal

(17,232

)

-

(17,232

)

At 31 October 2017

3,094

44,856

652,005

NET BOOK VALUE

At 31 October 2017

4,896

19,317

240,156

At 31 October 2016

2,196

22,726

278,974

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

164,471

119,936

Other debtors

878,736

417,309

1,043,207

537,245

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade creditors

368,368

350,076

Taxation and social security

53,905

55,366

Other creditors

22,308

15,288

444,581

420,730

7.	PROVISIONS FOR LIABILITIES

31.10.17

31.10.16

£

£

Deferred tax

15,211

17,252

Deferred

tax

£

Balance at 1 November 2016

17,252

Decrease in provision

(2,041

)

Balance at 31 October 2017

15,211

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year rent was paid to the directors Mr. & Mrs. A Hindocha on normal commercial terms. The rent

was for the premises at Mount Nod in Coventry, the amounts paid were £15,000 (2016- £15,000).

Included within the creditors , the amount owed to the directors is £ 1,366 (2016 £ 1,496 ).These loans are

interest free and with no fixed date of repayment.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £122,000 (2016 - £124,000) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Hindocha.