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Unaudited Financial Statements for the Year Ended 30th June 2017 |
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Clinochem Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30th June 2017 |
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for |
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Clinochem Limited |
Clinochem Limited (Registered number: 01606718) |
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Contents of the Financial Statements |
for the Year Ended 30th June 2017 |
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Page |
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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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Clinochem Limited |
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Company Information |
for the Year Ended 30th June 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Roper Yard |
Roper Road |
Canterbury |
Kent |
CT2 7EX |
Clinochem Limited (Registered number: 01606718) |
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Balance Sheet |
30th June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Clinochem Limited (Registered number: 01606718) |
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Balance Sheet - continued |
30th June 2017 |
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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 on
on its behalf by: |
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Clinochem Limited (Registered number: 01606718) |
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Notes to the Financial Statements |
for the Year Ended 30th June 2017 |
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1. | STATUTORY INFORMATION |
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Clinochem Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No significant judgements have had to be made by management in preparing these financial |
statements. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Amortisation |
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated |
residual value, over their expected useful economic life as follows: |
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Patents 25% Reducing balance |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Moulds | - |
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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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Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loan from banks and other |
third parties and loans to related parties. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Clinochem Limited (Registered number: 01606718) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The financial statements have been prepared on a going concern basis. No material uncertainties |
which may cast significant doubt about the ability of the company to continue as a going concern |
have been identified by the directors. |
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3. | INTANGIBLE FIXED ASSETS |
Patents |
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COST |
At 1st July 2016 |
and 30th June 2017 |
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AMORTISATION |
At 1st July 2016 |
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Amortisation for year |
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At 30th June 2017 |
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NET BOOK VALUE |
At 30th June 2017 |
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At 30th June 2016 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Moulds | Totals |
£ | £ | £ | £ |
COST |
At 1st July 2016 |
and 30th June 2017 |
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DEPRECIATION |
At 1st July 2016 |
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Charge for year |
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At 30th June 2017 |
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NET BOOK VALUE |
At 30th June 2017 |
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At 30th June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Clinochem Limited (Registered number: 01606718) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th June 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 2,000 | 2,000 |
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8. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £30,000 (2016 - £20,860) were paid to the directors. |
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The directors have personally guaranteed the company's overdraft facility, by placing a charge on a |
privately owned property. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors who own 100% of the called up share capital. |
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10. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 Section 1A for the year ended 30 June 2017, with the date of |
transition therefore being 1 July 2016. |
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On transition management have considered the effect of any changes in accounting treatment from |
UK GAAP to FRS 102 Section 1A for the company but do not consider there to be any changes that |
would warrant restatement of the comparative financials. |