Company Registration No. 2994714 (England and Wales)
Panacea Pharmacy Limited
Unaudited accounts
for the year ended 31 July 2018
Panacea Pharmacy Limited
Company Information
for the year ended 31 July 2018
Directors
Andaleed Naseem
Mohammad Assad Naseem
Company Number
2994714 (England and Wales)
Registered Office
53A COMMERCIAL STREET
ROTHWELL
LEEDS
WEST YORKSHIRE
LS26 0QD
Accountants
Rizvi & Co Accountants
73 Brudenell Grove
Leeds
LS6 1HR
Panacea Pharmacy Limited
Statement of financial position
as at
31 July 2018
Intangible assets
115,000
115,000
Tangible assets
233,525
229,139
Investments
458,305
458,305
Inventories
35,369
46,866
Cash at bank and in hand
41,245
50,242
Creditors: amounts falling due within one year
(249,407)
(256,108)
Net current assets
104,164
115,106
Total assets less current liabilities
910,994
917,550
Creditors: amounts falling due after more than one year
(28,983)
(35,545)
Net assets
882,011
882,005
Called up share capital
12,000
12,000
Profit and loss account
870,011
870,005
Shareholders' funds
882,011
882,005
For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 April 2019.
Mohammad Assad Naseem
Director
Company Registration No. 2994714
Panacea Pharmacy Limited
Notes to the Accounts
for the year ended 31 July 2018
Panacea Pharmacy Limited is a private company, limited by shares, registered in England and Wales, registration number 2994714. The registered office is 53A COMMERCIAL STREET, ROTHWELL, LEEDS, WEST YORKSHIRE, LS26 0QD.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2018 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Total
Panacea Pharmacy Limited
Notes to the Accounts
for the year ended 31 July 2018
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Tangible fixed assets
Total
Charge for the year
8,504
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Average number of employees
During the year the average number of employees was 8 (2017: 8).