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Company Registration No. 10120110 (England and Wales)
Chemystri Ltd Unaudited accounts for the year ended 30 April 2023
Chemystri Ltd Unaudited accounts Contents
Page
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Chemystri Ltd Company Information for the year ended 30 April 2023
Directors
Andrew Folarin Onitiri Daniela Onitiri
Company Number
10120110 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London Wc2H 9JQ
Accountants
OD Accountants Ltd 7a Ezra Street London E2 7RH
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Chemystri Ltd Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
273,892 
547,785 
Current assets
Inventories
223,462 
1,337,164 
Debtors
288,552 
211,122 
Cash at bank and in hand
191,588 
25,847 
703,602 
1,574,133 
Creditors: amounts falling due within one year
(305,987)
(1,386,804)
Net current assets
397,615 
187,329 
Total assets less current liabilities
671,507 
735,114 
Creditors: amounts falling due after more than one year
(1,077,428)
(1,075,700)
Net liabilities
(405,921)
(340,586)
Capital and reserves
Called up share capital
5,000 
5,000 
Profit and loss account
(410,921)
(345,586)
Shareholders' funds
(405,921)
(340,586)
For the year ending 30 April 2023 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.
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 15 November 2023 and were signed on its behalf by
Andrew Folarin Onitiri Director Company Registration No. 10120110
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Chemystri Ltd Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Chemystri Ltd is a private company, limited by shares, registered in England and Wales, registration number 10120110. The registered office is 71-75 Shelton Street, Covent Garden, London , Wc2H 9JQ.
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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. Inventories costs of land and properties the Company has purchased and the costs incurred to date developing them for resale.
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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Chemystri Ltd Notes to the Accounts for the year ended 30 April 2023
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
4
Investment property
2023 
£ 
Fair value at 1 May 2022
547,785 
Disposals
(273,893)
At 30 April 2023
273,892 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
251,167 
205,511 
Accrued income and prepayments
1,385 
611 
Other debtors
36,000 
5,000 
288,552 
211,122 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
1,091,568 
Taxes and social security
22 
22 
Accruals
305,965 
295,214 
305,987 
1,386,804 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
1,077,428 
1,075,700 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
5,000 Ordinary shares of £1 each
5,000 
5,000 
9
Capital commitments
2023 
2022 
£ 
£ 
The company has two working capital loans from Hamada where there is interest chargeable at 1%pa (2022: 1% pa). The loans were taken out in July 2018 and January 2019.
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Chemystri Ltd Notes to the Accounts for the year ended 30 April 2023
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Andrew Folarin Onitiri
- 
31,000 
- 
31,000 
- 
31,000 
- 
31,000 
11
Transactions with related parties
During the prior year the Company sold a property being developed to The Haven Wellington Limited, a wholly owned subsidiary. The property was sold at cost which was £650,000. The amount owed to the Company by The Haven Wellington Limited at the year end was £251,167 (2022: £205,511).
12
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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