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REGISTERED NUMBER: 07689509 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DAYCHEM LTD

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAYCHEM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: J S Rahania
R Rahania
R K Saroy



REGISTERED OFFICE: 20 Coningsby Drive
Wolverhampton
West Midlands
WV2 2RN



REGISTERED NUMBER: 07689509 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds Bank plc
3 Queen Square
Wolverhampton
West Midlands
WV1 1RF

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 97,327 95,210

CURRENT ASSETS
Stocks 5 162,484 122,083
Debtors 6 654,532 792,613
Cash at bank and in hand 375,822 616,507
1,192,838 1,531,203
CREDITORS
Amounts falling due within one year 7 (662,133 ) (1,015,509 )
NET CURRENT ASSETS 530,705 515,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

628,032

610,904

PROVISIONS FOR LIABILITIES 9 (18,492 ) (18,089 )
NET ASSETS 609,540 592,815

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 11 609,240 592,515
SHAREHOLDERS' FUNDS 609,540 592,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 10 October 2023 and were signed on its behalf by:




J S Rahania - Director



R K Saroy - Director


DAYCHEM LTD (REGISTERED NUMBER: 07689509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Daychem Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 March 2022 237,928 - 237,928
Additions 868 20,796 21,664
At 28 February 2023 238,796 20,796 259,592
DEPRECIATION
At 1 March 2022 142,718 - 142,718
Charge for year 19,114 433 19,547
At 28 February 2023 161,832 433 162,265
NET BOOK VALUE
At 28 February 2023 76,964 20,363 97,327
At 28 February 2022 95,210 - 95,210

5. STOCKS
2023 2022
£    £   
Stocks 162,484 122,083

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 230,417 198,892
Other debtors 315,334 459,479
VAT 100,840 130,221
Prepayments and accrued income 7,941 4,021
654,532 792,613

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 504,547 608,382
Corporation tax 2,238 71,880
Social security and other taxes 2,157 2,453
Other creditors 365 88,026
Directors' loan accounts 2,009 -
Accruals and deferred income 150,817 244,768
662,133 1,015,509

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 6,000 4,680
In more than five years 19,365 125,997
25,365 130,677

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 18,492 18,089

Deferred
tax
£   
Balance at 1 March 2022 18,089
Charged during the year 403
Balance at 28 February 2023 18,492

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300

11. RESERVES
Retained
earnings
£   

At 1 March 2022 592,515
Profit for the year 16,725
At 28 February 2023 609,240

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2023, there was a loan from Mr J Rahania of £329 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan from Mr R Rahania of £1,248 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan from Mr R K Saroy of £432 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


13. RELATED PARTY DISCLOSURES

A management service charge has been paid during the year to Nightchem Limited of £17,304 (2022: £112,581). At 28 February 2023, there was a loan from Nightchem Limited of £Nil (2022: £87,681), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan to Wellington Pharmacy Limited of £336 (2022: £139,916), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan to RJR Chem Ltd of £75,667 (2022: £80,596), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 28 February 2023, there was a loan to Church Street Healthcare Limited of £239,303 (2022: £238,967), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.