REGISTERED NUMBER: 05485233 (England and Wales)

ABBEY PHARMACY LIMITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD 1 NOVEMBER 2015 TO 30 JUNE 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mr A M Porter

Mrs S A Porter

SECRETARY:

Mr A M Porter

REGISTERED OFFICE:

6 Kirkstead Abbey Mews

Thorpe Hesley

Rotherham

South Yorkshire

S61 2UZ

REGISTERED NUMBER:

05485233 (England and Wales)

ACCOUNTANTS:

The Rees Partnership

Bentley Bridge House

Chesterfield Road

Matlock

Derbyshire

DE4 5LE

BANKERS:

Santander

1st Floor

Telegraph House

High Street

Sheffield

South Yorkshire

S1 2AN

FIXED ASSETS

Intangible assets

2

-

697,641

Tangible assets

3

-

149,371

-

847,012

CURRENT ASSETS

Stocks

-

56,675

Debtors

3,346

131,559

Cash at bank and in hand

518,753

118,435

522,099

306,669

CREDITORS

Amounts falling due within one year

4

(41,093

)

(597,485

)

NET CURRENT ASSETS/(LIABILITIES)

481,006

(290,816

)

TOTAL ASSETS LESS CURRENT LIABILITIES

481,006

556,196

CREDITORS

Amounts falling due after more than one year

4

-

(514,650

)

PROVISIONS FOR LIABILITIES

-

(8,544

)

NET ASSETS

481,006

33,002

CAPITAL AND RESERVES

Called up share capital

5

1,002

1,002

Profit and loss account

480,004

32,000

SHAREHOLDERS' FUNDS

481,006

33,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 September 2016 and were signed on its behalf by:

Mr A M Porter - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

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

-

10% 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.

Deferred tax

Full provision is made for deferred taxation resulting from timing differences between the recognition of

gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is

calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when

the timing differences will reverse.

Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the

company has entered into a binding agreement to sell the assets and recognised the gains and losses

expected to arise on sale. Deferred tax is also not recognised where assets have been sold and it is

expected that the taxable gain will be rolled over into a replacement asset.

Employee benefit trusts

The company has created a trust whose beneficiaries will include employees of the company and their

dependents. Assets held under this trust will be controlled by trustees who will be acting independently

and entirely at their own discretion.

Where assets are held in the trust and these are considered by the company to be in respect of

services already provided by employees to the company, the company will account for these as assets

of the trust when payment is made to the trust. The value transferred will be charged in the company's

profit and loss account for the year to which it relates.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

1,418,927

Disposals

(1,418,927

)

At 30 June 2016

-

AMORTISATION

At 1 November 2015

721,286

Amortisation for period

41,385

Eliminated on disposal

(762,671

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 31 October 2015

697,641

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

252,140

Disposals

(252,140

)

At 30 June 2016

-

DEPRECIATION

At 1 November 2015

102,769

Charge for period

8,714

Eliminated on disposal

(111,483

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 31 October 2015

149,371

4.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 594,650 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

£

Repayable by instalments

-

194,650

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,002

Ordinary shares

£1

1,002

1,002