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REGISTERED NUMBER: 09419483 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

RJR CHEM LTD

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


RJR CHEM 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: 09419483 (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

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,172,760 1,280,034
Tangible assets 5 209,621 170,718
Investments 6 1,543,093 1,543,093
3,925,474 2,993,845

CURRENT ASSETS
Stocks 7 169,218 140,858
Debtors 8 618,938 1,387,910
Cash at bank and in hand 183,868 235,751
972,024 1,764,519
CREDITORS
Amounts falling due within one year 9 (2,152,889 ) (2,276,421 )
NET CURRENT LIABILITIES (1,180,865 ) (511,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,744,609

2,481,943

CREDITORS
Amounts falling due after more than one
year

10

(2,119,008

)

(2,361,902

)

PROVISIONS FOR LIABILITIES 14 (39,828 ) (32,436 )
NET ASSETS 585,773 87,605

CAPITAL AND RESERVES
Called up share capital 15 3 3
Retained earnings 16 585,770 87,602
SHAREHOLDERS' FUNDS 585,773 87,605

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.

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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 6 November 2023 and were signed on its behalf by:




R Rahania - Director



R K Saroy - Director


RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


1. STATUTORY INFORMATION

RJR Chem 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


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.

Hire purchase and leasing commitments
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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022 1,383,821
Additions 970,000
At 28 February 2023 2,353,821
AMORTISATION
At 1 March 2022 103,787
Amortisation for year 77,274
At 28 February 2023 181,061
NET BOOK VALUE
At 28 February 2023 2,172,760
At 28 February 2022 1,280,034

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 March 2022 222,218 3,000 225,218
Additions 55,748 20,796 76,544
Disposals - (3,000 ) (3,000 )
At 28 February 2023 277,966 20,796 298,762
DEPRECIATION
At 1 March 2022 53,422 1,078 54,500
Charge for year 35,286 473 35,759
Eliminated on disposal - (1,118 ) (1,118 )
At 28 February 2023 88,708 433 89,141
NET BOOK VALUE
At 28 February 2023 189,258 20,363 209,621
At 28 February 2022 168,796 1,922 170,718

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures,
fittings
& equipment
£   
COST
At 1 March 2022
and 28 February 2023 190,290
DEPRECIATION
At 1 March 2022 50,744
Charge for year 27,909
At 28 February 2023 78,653
NET BOOK VALUE
At 28 February 2023 111,637
At 28 February 2022 139,546

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 1,543,093
NET BOOK VALUE
At 28 February 2023 1,543,093
At 28 February 2022 1,543,093

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Church Street Healthcare Limited
Registered office: 20 Coningsby Drive, Wolverhampton, West Midlands, WV2 2RN
Nature of business: Retail pharmacy
%
Class of shares: holding
Ordinary shares 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 858,871 796,550
Profit for the year 62,321 159,566

7. STOCKS
2023 2022
£    £   
Stocks 169,218 140,858

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 242,626 908,669
Other debtors 244,944 100,500
VAT 104,132 97,126
Prepayments and accrued income 27,236 281,615
618,938 1,387,910

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 221,869 245,711
Hire purchase contracts (see note 12) 34,369 33,491
Trade creditors 729,579 734,559
Amounts owed to group undertakings 908,722 741,136
Corporation tax 127,120 51,538
Social security and other taxes 8,261 6,555
Other creditors 118,955 183,266
Directors' loan accounts 20 -
Accruals and deferred income 3,994 280,165
2,152,889 2,276,421

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 11) 2,062,742 2,271,267
Hire purchase contracts (see note 12) 56,266 90,635
2,119,008 2,361,902

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,354,607 1,374,098

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 221,869 245,711

Amounts falling due between one and two years:
Bank loans - 1-2 years 213,381 246,971

Amounts falling due between two and five years:
Bank loans - 2-5 years 494,754 650,198

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,354,607 1,374,098

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 34,369 33,491
Between one and five years 56,266 90,635
90,635 124,126

Non-cancellable operating leases
2023 2022
£    £   
In more than five years 84,461 31,500

13. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,284,611 2,516,978

14. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 39,828 32,436

Deferred
tax
£   
Balance at 1 March 2022 32,436
Charged during the year 7,392
Balance at 28 February 2023 39,828

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3 Ordinary £1 3 3

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

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


16. RESERVES
Retained
earnings
£   

At 1 March 2022 87,602
Profit for the year 498,168
At 28 February 2023 585,770

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2023, there was a loan from Mr R K Saroy of £20 (2022: £Nil). This unsecured loan is interest free and repayable on demand.

18. RELATED PARTY DISCLOSURES

At 28 February 2023 there was a loan due to Church Street Healthcare Limited of £908,722 (2022: £741,136), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. The company is the parent undertaking of Church Street Healthcare Limited. This unsecured loan is interest free and repayable on demand.

At 28 February 2023 there was a loan due from Wellington Pharmacy Limited of £59,849 (2022: £Nil), a company in which Mr J 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 due to Wellington Pharmacy Limited of £Nil (2022: £85,221), a company in which Mr J 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 due to Daychem Ltd of £75,667 (2022: £80,596), a company in which Mr J 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 due to Nightchem Limited of £36,351 (2022: £16,351), a company in which Mr J 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 due from Saroy Property Investments Limited of £100,000 (2022: £100,000), a company in which Mr R K Saroy is a director. This unsecured loan is interest free and repayable on demand.