IRIS Accounts Production v23.2.0.158 06974260 Board of Directors 1.8.21 31.7.22 31.7.22 false true false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069742602021-07-31069742602022-07-31069742602021-08-012022-07-31069742602020-07-31069742602020-08-012021-07-31069742602021-07-3106974260ns10:Originalns15:EnglandWales2021-08-012022-07-3106974260ns14:PoundSterlingns10:Original2021-08-012022-07-3106974260ns10:Originalns10:Director12021-08-012022-07-3106974260ns10:Original2021-08-012022-07-3106974260ns10:Original2022-07-3106974260ns10:Originalns10:PrivateLimitedCompanyLtd2021-08-012022-07-3106974260ns10:Originalns10:SmallEntities2021-08-012022-07-3106974260ns10:Originalns10:AuditExempt-NoAccountantsReport2021-08-012022-07-3106974260ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2021-08-012022-07-3106974260ns10:SmallCompaniesRegimeForAccountsns10:Original2021-08-012022-07-3106974260ns10:Originalns10:FullAccounts2021-08-012022-07-3106974260ns10:Originalns10:OrdinaryShareClass12021-08-012022-07-3106974260ns10:Originalns10:Director22021-08-012022-07-3106974260ns10:CompanySecretary1ns10:Original2021-08-012022-07-3106974260ns10:Originalns10:RegisteredOffice2021-08-012022-07-3106974260ns10:Original2021-07-3106974260ns10:Originalns5:CurrentFinancialInstruments2022-07-3106974260ns10:Originalns5:CurrentFinancialInstruments2021-07-3106974260ns10:Originalns5:Non-currentFinancialInstruments2022-07-3106974260ns10:Originalns5:Non-currentFinancialInstruments2021-07-3106974260ns5:ShareCapitalns10:Original2022-07-3106974260ns5:ShareCapitalns10:Original2021-07-3106974260ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3106974260ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-07-3106974260ns10:Originalns5:PlantMachinery2021-08-012022-07-3106974260ns10:Original2020-08-012021-07-3106974260ns10:Originalns5:PlantMachinery2021-07-3106974260ns10:Originalns5:PlantMachinery2022-07-3106974260ns10:Originalns5:PlantMachinery2021-07-3106974260ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-07-3106974260ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2021-07-3106974260ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-07-3106974260ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2021-07-3106974260ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2021-07-3106974260ns10:Originalns10:OrdinaryShareClass12022-07-31
REGISTERED NUMBER: 06974260 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

CHEMLAB LTD

CHEMLAB LTD (REGISTERED NUMBER: 06974260)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHEMLAB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2022







DIRECTORS: Mr F A Khan
Mr M A Khan





SECRETARY: Mr G A Khan





REGISTERED OFFICE: Unit 2C, Redbrook Business Park
Wilthorpe Road
Barnsley
South Yorkshire
S75 1JN





REGISTERED NUMBER: 06974260 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

BALANCE SHEET
31 JULY 2022

31.7.22 31.7.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,124 40,934

CURRENT ASSETS
Stocks 20,000 2,500
Debtors 5 15,198 14,378
Cash at bank - 92,509
35,198 109,387
CREDITORS
Amounts falling due within one year 6 392,263 422,937
NET CURRENT LIABILITIES (357,065 ) (313,550 )
TOTAL ASSETS LESS CURRENT LIABILITIES (329,941 ) (272,616 )

CREDITORS
Amounts falling due after more than
one year

7

129,435

144,359
NET LIABILITIES (459,376 ) (416,975 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (459,377 ) (416,976 )
SHAREHOLDERS' FUNDS (459,376 ) (416,975 )

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

BALANCE SHEET - continued
31 JULY 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





Mr F A Khan - Director


CHEMLAB LTD (REGISTERED NUMBER: 06974260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1. STATUTORY INFORMATION

Chemlab 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

The financial statements have been prepared on a going concern basis on the grounds that the company's Director will financially support the company for the foreseeable future.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover from the sale of nutritional food supplements is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Subscription income is recognised in the period to which it relates.

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 - 25% on cost

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

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

2. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

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


Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis. The expected income and expenditure, together with the continued financial support of the directors and other loan creditors allows the company to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2021 105,822
Additions 3,707
At 31 July 2022 109,529
DEPRECIATION
At 1 August 2021 64,888
Charge for year 17,517
At 31 July 2022 82,405
NET BOOK VALUE
At 31 July 2022 27,124
At 31 July 2021 40,934

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Other debtors 15,198 14,378

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Bank loans 11,565 8,667
Other loans 10,000 60,000
Social security and other taxes - 311
VAT 254 240
Other creditors 37,747 29,076
Directors' current accounts 328,474 317,589
Accruals and deferred income 4,223 7,054
392,263 422,937

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.22 31.7.21
£    £   
Bank loans - 1 - 5 years 28,435 34,528
Bank loans - more than 5 years - 2,831
Other loans 21,000 12,000
Other loans more 5yrs instal 80,000 95,000
129,435 144,359

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 80,000 95,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.22 31.7.21
value: £    £   
1 Ordinary shares 1 1 1

9. FINANCIAL COMMITMENTS

At the year end the company was committed to expenditure of £15,114 (2021 : £11,400).

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022

10. RELATED PARTY DISCLOSURES

Other entities

31.7.2231.7.21
££
Advanced13,53025,212
Repaid996-
Amounts due to Other entities37,746 -

Amounts due to related parties are unsecured, do not attract interest and there are no structured repayment terms