Company Registration No. SC432684 (Scotland)
DEANS PHARMACEUTICALS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
DEANS PHARMACEUTICALS LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
DEANS PHARMACEUTICALS LTD
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2015
30 November 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,105,000
1,170,000
Tangible assets
2
103,111
109,320
1,208,111
1,279,320
Current assets
Stocks
117,489
87,005
Debtors
299,338
211,941
Cash at bank and in hand
214,074
223,371
630,901
522,317
Creditors: amounts falling due within one year
3
(1,111,168)
(1,576,414)
Net current liabilities
(480,267)
(1,054,097)
Total assets less current liabilities
727,844
225,223
Creditors: amounts falling due after more than one year
4
(400,078)
-
Provisions for liabilities
(4,665)
(5,483)
323,101
219,740
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
323,099
219,738
Shareholders' funds
323,101
219,740
DEANS PHARMACEUTICALS LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2015
30 November 2015
- 2 -
For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 August 2016
Mr Arif Hanif
Mr John Connolly
Director
Director
Company Registration No. SC432684
DEANS PHARMACEUTICALS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover comprises revenue recognised by the company in respect of pharmaceutical services during the year, exclusive of Value Added Tax and trade discounts.
comprises revenue recognised by the company in respect of pharmaceutical services during the year, exclusive of Value Added Tax and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of twenty years.
of twenty years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Shop develop't
5% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
DEANS PHARMACEUTICALS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 December 2014
1,300,000
126,774
1,426,774
Additions
-
5,880
5,880
At 30 November 2015
1,300,000
132,654
1,432,654
Depreciation
At 1 December 2014
130,000
17,453
147,453
Charge for the year
65,000
12,090
77,090
At 30 November 2015
195,000
29,543
224,543
Net book value
At 30 November 2015
1,105,000
103,111
1,208,111
At 30 November 2014
1,170,000
109,320
1,279,320
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £35,950 (2014 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £400,078 (2014 - £0).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2