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REGISTERED NUMBER: 02266042















Unaudited Financial Statements

for the Period 1st September 2022 to 31st January 2023

for

ELGON CHEMISTS LIMITED

ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)






Contents of the Financial Statements
for the period 1st September 2022 to 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELGON CHEMISTS LIMITED

Company Information
for the period 1st September 2022 to 31st January 2023







DIRECTOR: V K Patel





REGISTERED OFFICE: 2 Burton House Repton Place
White Lion Road
Amersham
Buckinghamshire
HP7 9LP





REGISTERED NUMBER: 02266042





ACCOUNTANTS: Jacquards
2 Burton House
Repton Place
White Lion Road
Amersham
Buckinghamshire
HP7 9LP

ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,140 19,140
19,140 19,140

CURRENT ASSETS
Stocks 59,000 59,000
Debtors 6 364,316 364,316
Cash at bank 179,508 179,508
602,824 602,824
CREDITORS
Amounts falling due within one year 7 525,887 525,887
NET CURRENT ASSETS 76,937 76,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,077

96,077

CREDITORS
Amounts falling due after more than one
year

8

(27,592

)

(27,592

)

PROVISIONS FOR LIABILITIES (7,591 ) (7,591 )
NET ASSETS 60,894 60,894

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 60,794 60,794
SHAREHOLDERS' FUNDS 60,894 60,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Balance Sheet - continued
31st January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th November 2023 and were signed by:





V K Patel - Director


ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Notes to the Financial Statements
for the period 1st September 2022 to 31st January 2023

1. STATUTORY INFORMATION

Elgon Chemists Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery etc - 25% on 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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 31st January 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2022
and 31st January 2023 101,281
AMORTISATION
At 1st September 2022
and 31st January 2023 101,281
NET BOOK VALUE
At 31st January 2023 -
At 31st August 2022 -

ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 31st January 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022
and 31st January 2023 285,491
DEPRECIATION
At 1st September 2022
and 31st January 2023 266,351
NET BOOK VALUE
At 31st January 2023 19,140
At 31st August 2022 19,140

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 192,736 192,736
Other debtors 171,580 171,580
364,316 364,316

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,908 9,908
Trade creditors 281,548 281,548
Amounts owed to group undertakings 61,693 61,693
Taxation and social security 20,475 20,475
Other creditors 152,263 152,263
525,887 525,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,592 27,592

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1.00 100 100

ELGON CHEMISTS LIMITED (REGISTERED NUMBER: 02266042)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 31st January 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31st January 2023 and the year ended 31st August 2022:

2023 2022
£    £   
B Patel
Balance outstanding at start of period - 587,168
Amounts advanced - 51,139
Amounts repaid - (638,307 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Shivneal Medicare Limited, a company incorporated in England and Wales.

The ultimate controlling part of the immediate parent company is Mr V Patel, who owns the majority of the issued share capital of Shivneal Medicare Limited.