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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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Anglebond Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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for |
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Anglebond Limited |
Anglebond Limited (Registered number: 03610292) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2021 |
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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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Anglebond Limited |
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Company Information |
for the Year Ended 31 August 2021 |
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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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Chartered Accountants |
Elthorne Gate |
64 High Street |
Pinner |
HA5 5QA |
Anglebond Limited (Registered number: 03610292) |
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Balance Sheet |
31 August 2021 |
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31.8.21 | 31.8.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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Anglebond Limited (Registered number: 03610292) |
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Balance Sheet - continued |
31 August 2021 |
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31.8.21 | 31.8.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings 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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Anglebond Limited (Registered number: 03610292) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2021 |
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1. | STATUTORY INFORMATION |
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Anglebond Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
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Preparation of consolidated financial statements |
The financial statements contain information about Anglebond Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover represents revenue generated from the pharmacy and is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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Goodwill |
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable. |
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Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Anglebond Limited (Registered number: 03610292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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 Statement of Income and Retained Earnings, 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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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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Anglebond Limited (Registered number: 03610292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 September 2020 |
and 31 August 2021 |
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AMORTISATION |
At 1 September 2020 |
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Amortisation for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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Included within the net book value of £120,952 is £36,742 (2020 - £Nil) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £12,248 (2020 - £Nil). |
Anglebond Limited (Registered number: 03610292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
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COST |
At 1 September 2020 |
and 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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During the year, the company acquired 100% of the share capital of Shreenal Healthcare Limited at market value from Mr KC Patel, who is the director of the company. The company remained dormant throughout the year. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Bank loans and overdrafts (see note 10) |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Bank loans (see note 10) |
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Hire purchase contracts |
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Anglebond Limited (Registered number: 03610292) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.8.21 | 31.8.20 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years | 124,843 | 161,348 |
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10. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.8.21 | 31.8.20 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years | 124,843 | 161,348 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.8.21 | 31.8.20 |
£ | £ |
Hire purchase contracts | 22,347 | - |
Bank loans | 397,887 | 445,802 |
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Bank loans and overdrafts are secured by way of a legal charge over the assets of the business. |
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12. | OTHER FINANCIAL COMMITMENTS |
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As at the balance sheet date, the total financial commitments amounted to £387,500. These commitments are for operating lease commitment for rent of the premises. |