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REGISTERED NUMBER: 06450933 (England and Wales)


















Alchemy Products Limited

Unaudited Financial Statements for the Year Ended 31st December 2021






Alchemy Products Limited (Registered number: 06450933)






Contents of the Financial Statements
for the year ended 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alchemy Products Limited

Company Information
for the year ended 31st December 2021







DIRECTORS: G Whitby
Mrs K Whitby





REGISTERED OFFICE: Castlegate House
Castle Carrock
Brampton
Cumbria
CA8 9LT





REGISTERED NUMBER: 06450933 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Alchemy Products Limited (Registered number: 06450933)

Balance Sheet
31st December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,317 25,126

CURRENT ASSETS
Stocks 105,996 102,184
Debtors 5 109,717 83,954
Cash in hand 1,266 1,266
216,979 187,404
CREDITORS
Amounts falling due within one year 6 193,899 150,354
NET CURRENT ASSETS 23,080 37,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,397

62,176

CREDITORS
Amounts falling due after more than one
year

7

(34,167

)

(53,167

)

PROVISIONS FOR LIABILITIES (2,342 ) (3,328 )
NET ASSETS 4,888 5,681

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 4,887 5,680
SHAREHOLDERS' FUNDS 4,888 5,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

Alchemy Products Limited (Registered number: 06450933)

Balance Sheet - continued
31st December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2022 and were signed on its behalf by:





G Whitby - Director


Alchemy Products Limited (Registered number: 06450933)

Notes to the Financial Statements
for the year ended 31st December 2021

1. STATUTORY INFORMATION

Alchemy Products 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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, modified to include certain items at fair value.

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

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings- 5% on cost
Plant and machinery etc- 25% on cost

Government grants
Government grants receivable have been accounted for under the accrual model.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


Alchemy Products Limited (Registered number: 06450933)

Notes to the Financial Statements - continued
for the year ended 31st December 2021

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

Alchemy Products Limited (Registered number: 06450933)

Notes to the Financial Statements - continued
for the year ended 31st December 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2021 7,500 86,720 94,220
Additions - 2,684 2,684
At 31st December 2021 7,500 89,404 96,904
DEPRECIATION
At 1st January 2021 2,906 66,188 69,094
Charge for year 375 9,118 9,493
At 31st December 2021 3,281 75,306 78,587
NET BOOK VALUE
At 31st December 2021 4,219 14,098 18,317
At 31st December 2020 4,594 20,532 25,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 109,717 52,162
Other debtors - 31,792
109,717 83,954

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 34,146 25,328
Hire purchase contracts 4,864 10,598
Trade creditors 56,192 43,150
Taxation and social security 42,270 34,990
Other creditors 56,427 36,288
193,899 150,354

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 34,167 44,167
Hire purchase contracts - 4,906
Other creditors - 4,094
34,167 53,167

Alchemy Products Limited (Registered number: 06450933)

Notes to the Financial Statements - continued
for the year ended 31st December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2021 2020
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 4,167

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1 Ordinary shares £1 1 1

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2021 and 31st December 2020:

2021 2020
£    £   
G Whitby
Balance outstanding at start of year 8,249 (96 )
Amounts advanced 153,098 125,483
Amounts repaid (163,455 ) (117,138 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,108 ) 8,249

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £45,000 (2020 - £45,000) were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

The controlling party is G Whitby.