IRIS Accounts Production v23.4.0.336 01849131 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018491312022-10-31018491312023-10-31018491312022-11-012023-10-31018491312021-10-31018491312021-11-012022-10-31018491312022-10-3101849131ns15:EnglandWales2022-11-012023-10-3101849131ns14:PoundSterling2022-11-012023-10-3101849131ns10:Director12022-11-012023-10-3101849131ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3101849131ns10:SmallEntities2022-11-012023-10-3101849131ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3101849131ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3101849131ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3101849131ns10:FullAccounts2022-11-012023-10-3101849131ns10:Director22022-11-012023-10-3101849131ns10:Director32022-11-012023-10-3101849131ns10:CompanySecretary12022-11-012023-10-3101849131ns10:RegisteredOffice2022-11-012023-10-3101849131ns5:CurrentFinancialInstruments2023-10-3101849131ns5:CurrentFinancialInstruments2022-10-3101849131ns5:ShareCapital2023-10-3101849131ns5:ShareCapital2022-10-3101849131ns5:RetainedEarningsAccumulatedLosses2023-10-3101849131ns5:RetainedEarningsAccumulatedLosses2022-10-3101849131ns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-012023-10-3101849131ns5:LeaseholdImprovements2022-11-012023-10-3101849131ns5:FurnitureFittings2022-11-012023-10-3101849131ns5:MotorVehicles2022-11-012023-10-3101849131ns5:ShortLeaseholdAssetsns5:LandBuildings2022-10-3101849131ns5:LeaseholdImprovements2022-10-3101849131ns5:FurnitureFittings2022-10-3101849131ns5:MotorVehicles2022-10-3101849131ns5:ShortLeaseholdAssetsns5:LandBuildings2023-10-3101849131ns5:LeaseholdImprovements2023-10-3101849131ns5:FurnitureFittings2023-10-3101849131ns5:MotorVehicles2023-10-3101849131ns5:ShortLeaseholdAssetsns5:LandBuildings2022-10-3101849131ns5:LeaseholdImprovements2022-10-3101849131ns5:FurnitureFittings2022-10-3101849131ns5:MotorVehicles2022-10-3101849131ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3101849131ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 01849131 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MONARCH CHEMISTS LIMITED

MONARCH CHEMISTS LIMITED (REGISTERED NUMBER: 01849131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONARCH CHEMISTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S Kanabar
A Kanabar
R Kanabar





SECRETARY: S Kanabar





REGISTERED OFFICE: 318 Radford Road
Coventry
CV6 3AA





REGISTERED NUMBER: 01849131 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

MONARCH CHEMISTS LIMITED (REGISTERED NUMBER: 01849131)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,219 121,537

CURRENT ASSETS
Stocks 235,395 216,426
Debtors 5 752,924 369,886
Cash at bank and in hand 294,173 472,208
1,282,492 1,058,520
CREDITORS
Amounts falling due within one year 6 322,313 304,806
NET CURRENT ASSETS 960,179 753,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,063,398

875,251

PROVISIONS FOR LIABILITIES 15,055 13,570
NET ASSETS 1,048,343 861,681

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,048,243 861,581
SHAREHOLDERS' FUNDS 1,048,343 861,681

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

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

MONARCH CHEMISTS LIMITED (REGISTERED NUMBER: 01849131)

BALANCE SHEET - continued
31 OCTOBER 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 1 March 2024 and were signed on its behalf by:





A Kanabar - Director


MONARCH CHEMISTS LIMITED (REGISTERED NUMBER: 01849131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Monarch Chemists Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


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.
Short leasehold - Over the term of the lease
Improvements to property - Over the term of the lease
Fixtures and fittings - 15% 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.

MONARCH CHEMISTS LIMITED (REGISTERED NUMBER: 01849131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

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 26 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Motor
leasehold property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 39,195 4,050 678,080 48,838 770,163
DEPRECIATION
At 1 November 2022 22,995 289 591,957 33,385 648,626
Charge for year 1,246 290 12,918 3,864 18,318
At 31 October 2023 24,241 579 604,875 37,249 666,944
NET BOOK VALUE
At 31 October 2023 14,954 3,471 73,205 11,589 103,219
At 31 October 2022 16,200 3,761 86,123 15,453 121,537

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 340,284 313,502
Other debtors 412,640 56,384
752,924 369,886

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,518 -
Trade creditors 226,474 226,230
Taxation and social security 79,561 68,544
Other creditors 8,760 10,032
322,313 304,806

7. SECURED DEBTS

The company has secured liabilities by means of debentures and fixed and floating charges held over the assets of the company.