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Registration number: 06739463

A & E Healthcare Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2016

Gibbs & Co Chartered Accountants
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

 

A & E Healthcare Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Financial Statements

8 to 11

 

A & E Healthcare Limited

Company Information

Director

Ashley Hunter

Registered office

18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

Accountants

Gibbs & Co Chartered Accountants
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

 

A & E Healthcare Limited

Director's Report for the Year Ended 30 November 2016

The director presents his report and the financial statements for the year ended 30 November 2016.

Director of the company

The director who held office during the year was as follows:

Ashley Hunter

Principal activity

The principal activity of the company is sale and distribution of pharmaceutical supplies

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 4 August 2017 and signed on its behalf by:

.........................................
Ashley Hunter
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A & E Healthcare Limited
for the Year Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & E Healthcare Limited for the year ended 30 November 2016 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of A & E Healthcare Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & E Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of A & E Healthcare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & E Healthcare Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & E Healthcare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & E Healthcare Limited. You consider that A & E Healthcare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A & E Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Gibbs & Co Chartered Accountants
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

4 August 2017

 

A & E Healthcare Limited

Profit and Loss Account for the Year Ended 30 November 2016

Note

Total
30 November
2016
£

Total
30 November
2015
£

Turnover

 

71,374

94,396

Cost of sales

 

(60,020)

(74,697)

Gross profit

 

11,354

19,699

Administrative expenses

 

(10,894)

(15,366)

Operating profit

 

460

4,333

Profit before tax

3

460

4,333

Taxation

 

-

52

Profit for the financial year

 

460

4,385

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

A & E Healthcare Limited

Statement of Comprehensive Income for the Year Ended 30 November 2016

Note

2016
£

2015
£

Profit for the year

 

460

4,385

Total comprehensive income for the year

 

460

4,385

 

A & E Healthcare Limited

(Registration number: 06739463)
Balance Sheet as at 30 November 2016

Note

2016
£

2015
£

Fixed assets

 

Tangible assets

4

580

774

Current assets

 

Stocks

5

241

318

Debtors

6

8,262

9,141

Cash at bank and in hand

 

17,735

26,102

 

26,238

35,561

Creditors: Amounts falling due within one year

7

(12,763)

(22,741)

Net current assets

 

13,475

12,820

Total assets less current liabilities

 

14,055

13,594

Provisions for liabilities

(155)

(154)

Net assets

 

13,900

13,440

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

1

1

Profit and loss account

13,898

13,438

Total equity

 

13,900

13,440

For the financial year ending 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 4 August 2017
 

.........................................

Ashley Hunter

Director

 

A & E Healthcare Limited

Statement of Changes in Equity for the Year Ended 30 November 2016

Share capital
£

Capital redemption reserve
£

Profit and loss account
£

Total
£

At 1 December 2015

1

1

13,438

13,440

Profit for the year

-

-

460

460

Total comprehensive income

-

-

460

460

At 30 November 2016

1

1

13,898

13,900

Share capital
£

Capital redemption reserve
£

Profit and loss account
£

Total
£

At 1 December 2014

2

-

18,407

18,409

Profit for the year

-

-

4,385

4,385

Total comprehensive income

-

-

4,385

4,385

Purchase of own share capital

(1)

-

(9,354)

(9,355)

Other capital redemption reserve movements

-

1

-

1

At 30 November 2015

1

1

13,438

13,440

 

A & E Healthcare Limited

Notes to the Financial Statements for the Year Ended 30 November 2016

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

These financial statements were authorised for issue by the director on 4 August 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

A & E Healthcare Limited

Notes to the Financial Statements for the Year Ended 30 November 2016

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

A & E Healthcare Limited

Notes to the Financial Statements for the Year Ended 30 November 2016

3

Profit before tax

Arrived at after charging/(crediting)

2016
£

2015
£

Depreciation expense

193

258

 

A & E Healthcare Limited

Notes to the Financial Statements for the Year Ended 30 November 2016

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2015

3,812

3,812

At 30 November 2016

3,812

3,812

Depreciation

At 1 December 2015

3,038

3,038

Charge for the year

194

194

At 30 November 2016

3,232

3,232

Carrying amount

At 30 November 2016

580

580

At 30 November 2015

774

774

5

Stocks

2016
£

2015
£

Other inventories

241

318

6

Debtors

2016
£

2015
£

Trade debtors

7,396

7,795

Other debtors

866

1,346

Total current trade and other debtors

8,262

9,141

7

Creditors

Note

2016
£

2015
£

Due within one year

 

Trade creditors

 

9,233

15,834

Directors current account

2,213

-

Other creditors

 

1,317

6,907

 

12,763

22,741