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REGISTERED NUMBER: 01240839 (England and Wales)















Financial Statements for the Year Ended 30th June 2018

for

David Barbanel Limited

David Barbanel Limited (Registered number: 01240839)






Contents of the Financial Statements
for the Year Ended 30th June 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


David Barbanel Limited

Company Information
for the Year Ended 30th June 2018







DIRECTOR: R Pahwa





REGISTERED OFFICE: City, Chartered Accountants,
5th Floor, Linen Hall,
162-168 Regent Street,
London
W1B 5TF





REGISTERED NUMBER: 01240839 (England and Wales)






David Barbanel Limited (Registered number: 01240839)

Balance Sheet
30th June 2018

30.6.18 30.6.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,020,000 1,080,000
Tangible assets 5 39,383 50,093
1,059,383 1,130,093

CURRENT ASSETS
Stocks 112,809 73,457
Debtors 6 823,536 817,570
Prepayments and accrued income 7,323 8,519
Cash at bank and in hand 154,847 196,317
1,098,515 1,095,863
CREDITORS
Amounts falling due within one year 7 511,064 730,134
NET CURRENT ASSETS 587,451 365,729
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,646,834

1,495,822

CREDITORS
Amounts falling due after more than one
year

8

59,005

-
NET ASSETS 1,587,829 1,495,822

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Retained earnings 1,579,829 1,487,822
SHAREHOLDERS' FUNDS 1,587,829 1,495,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

David Barbanel Limited (Registered number: 01240839)

Balance Sheet - continued
30th June 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15th January 2019 and were signed by:





R Pahwa - Director


David Barbanel Limited (Registered number: 01240839)

Notes to the Financial Statements
for the Year Ended 30th June 2018

1. STATUTORY INFORMATION

David Barbanel Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


David Barbanel Limited (Registered number: 01240839)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018

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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 15 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2017
and 30th June 2018 1,200,000
AMORTISATION
At 1st July 2017 120,000
Charge for year 60,000
At 30th June 2018 180,000
NET BOOK VALUE
At 30th June 2018 1,020,000
At 30th June 2017 1,080,000

David Barbanel Limited (Registered number: 01240839)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st July 2017
and 30th June 2018 11,941 165,799 177,740
DEPRECIATION
At 1st July 2017 4,690 122,957 127,647
Charge for year - 10,710 10,710
At 30th June 2018 4,690 133,667 138,357
NET BOOK VALUE
At 30th June 2018 7,251 32,132 39,383
At 30th June 2017 7,251 42,842 50,093

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.18 30.6.17
£    £   
Trade debtors 248,827 262,780
Amounts owed by group undertakings 536,318 519,259
Other debtors 38,391 35,531
823,536 817,570

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.18 30.6.17
£    £   
Bank loans and overdrafts 187,451 218,341
Trade creditors 279,183 333,674
Taxation and social security 42,483 67,522
Other creditors 1,947 110,597
511,064 730,134

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.18 30.6.17
£    £   
Other creditors 59,005 -

David Barbanel Limited (Registered number: 01240839)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018

9. RELATED PARTY DISCLOSURES

David Barbanel Ltd acquired Tower Pharmacy on the 1st December 2014 from Mr R Pahwa who is
also a director of the company. Post the date of acquisition all transactions have been included in
these accounts.

As at 30 June 2018 David Barbanel Limited owed R Pahwa £626 (2017: £108,345)

As at 30 June 2018 David Barbanel Limited was owed £536,318 (2017: £519,259) by Tower Chemist
Limited in which R Pahwa is the majority shareholder.

10. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is R Pahwa.