1 January 2022 false No description of principal activity Taxfiler 2023.9 04454193business:PrivateLimitedCompanyLtd2022-01-012022-12-31 044541932021-12-31 044541932022-01-012022-12-31 04454193business:AuditExemptWithAccountantsReport2022-01-012022-12-31 04454193business:AbridgedAccounts2022-01-012022-12-31 044541932022-12-31 044541932021-12-31 04454193core:WithinOneYear2022-12-31 04454193core:WithinOneYear2021-12-31 04454193core:AfterOneYear2022-12-31 04454193core:AfterOneYear2021-12-31 04454193core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 04454193core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 04454193core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 04454193core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 04454193core:PreviouslyStatedAmount2022-12-31 04454193core:PreviouslyStatedAmount2021-12-31 04454193business:SmallEntities2022-01-012022-12-31 04454193business:Director12022-01-012022-12-31 04454193countries:EnglandWales2022-01-012022-12-31 04454193business:RegisteredOffice2022-01-012022-12-31 04454193core:PlantMachinery2022-01-012022-12-31 04454193core:MotorVehicles2022-01-012022-12-31 04454193core:FurnitureFittings2022-01-012022-12-31 04454193core:ComputerEquipment2022-01-012022-12-31 044541932021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04454193 (England and Wales)
PATEL'S CHEMIST LIMITED Unaudited accounts for the year ended 31 December 2022
PATEL'S CHEMIST LIMITED Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
114,975 
109,106 
Current assets
Inventories
19,270 
19,825 
Debtors
1,115,711 
897,786 
Cash at bank and in hand
152,534 
181,252 
1,287,515 
1,098,863 
Creditors: amounts falling due within one year
(607,147)
(370,008)
Net current assets
680,368 
728,855 
Total assets less current liabilities
795,343 
837,961 
Creditors: amounts falling due after more than one year
- 
(54,323)
Provisions for liabilities
Other provisions
- 
(586)
Net assets
795,343 
783,052 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
795,243 
782,952 
Shareholders' funds
795,343 
783,052 
For the year ending 31 December 2022 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.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Mr A Khan Director Company Registration No. 04454193
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PATEL'S CHEMIST LIMITED Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
PATEL'S CHEMIST LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04454193. The registered office is 33 WERNETH HALL ROAD, OLDHAM, LANCASHIRE, OL8 4BB.
2
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
15% straight line
Motor vehicles
15% straight line
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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PATEL'S CHEMIST LIMITED Notes to the Accounts for the year ended 31 December 2022
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2022
198,800 
Additions
28,387 
At 31 December 2022
227,187 
Depreciation
At 1 January 2022
89,694 
Charge for the year
22,518 
At 31 December 2022
112,212 
Net book value
At 31 December 2022
114,975 
At 31 December 2021
109,106 
5
Average number of employees
During the year the average number of employees was 13 (2021: 13).
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