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Unaudited Financial Statements for the Year Ended 30 September 2020 |
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K. Waterhouse Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2020 |
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for |
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K. Waterhouse Limited |
K. Waterhouse Limited (Registered number: 00971282) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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K. Waterhouse Limited |
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Company Information |
for the Year Ended 30 September 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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173 Cleveland Street |
London |
W1T 6QR |
K. Waterhouse Limited (Registered number: 00971282) |
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Balance Sheet |
30 September 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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Investment property | 7 |
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CURRENT ASSETS |
Stocks |
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Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 10 |
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Retained earnings |
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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. |
K. Waterhouse Limited (Registered number: 00971282) |
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Balance Sheet - continued |
30 September 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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K. Waterhouse Limited (Registered number: 00971282) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
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1. | STATUTORY INFORMATION |
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K. Waterhouse Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Investments in subsidiaries |
Investments in subsidiary company is stated at the net asset values of the subsidiary company, which is considered to be their fair values, unless the net asset value is negative, in which case the investment's carrying value is recognised in other comprehensive income (OCI) in accordance with FRS102.17.15.E-F, with net revaluation gains recognised in OCI and net revaluation losses in profit and loss to the extent that these are not reversals of previous revaluation gain. |
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Investment property |
Investment property are initially recorded at cost, which includes purchase price and directly attributable expenditure. Investment properties are revalued to their fair values at each reporting date and any changes in fair values are recognised in profit or loss account and no depreciation is provided in respect of investment properties. |
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Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
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For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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K. Waterhouse Limited (Registered number: 00971282) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2019 |
and 30 September 2020 |
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AMORTISATION |
At 1 October 2019 |
and 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2019 |
and 30 September 2020 |
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DEPRECIATION |
At 1 October 2019 |
and 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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K. Waterhouse Limited (Registered number: 00971282) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2019 |
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691,736 |
Additions |
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12,456 |
Disposals | ( |
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(1 | ) |
Revaluations |
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At 30 September 2020 |
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569,131 |
NET BOOK VALUE |
At 30 September 2020 |
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569,131 |
At 30 September 2019 |
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691,736 |
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Cost or valuation at 30 September 2020 is represented by: |
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Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Cost | 85,156 | 483,975 | 569,131 |
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The quoted securities represent UK stocks and shares which are stated at fair value. |
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The company owns the entire issued share capital of Ace Greenacre Ltd which operates in retail pharmaceutical business. |
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7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2019 |
and 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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The directors have considered the carrying value of all investment properties and in their opinion there is no material difference between the carrying value and market value at the Balance Sheet date. |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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K. Waterhouse Limited (Registered number: 00971282) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 October 2019 |
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Revaluation adjustment | 42,844 |
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At 30 September 2020 |
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11. | RELATED PARTY DISCLOSURES |
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As the company is a wholly owned subsidiary of Pharm-Tex Limited, the company has taken advantage of the exemption contained in FRS 102 1A and has therefore not disclosed transactions on balances with entities which form part of the group headed by Pharm-Tex Limited. |
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The directors confirm that there are no other related party transactions other than those disclosed in these financial statements. |