Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 4447223 Mr Girish Mehta Mrs Rekha Mehta Mrs Binita Mehta-Parmar Mrs Rekha Mehta true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 4447223 2023-03-31 4447223 2024-03-31 4447223 2023-04-01 2024-03-31 4447223 frs-core:CurrentFinancialInstruments 2024-03-31 4447223 frs-core:ComputerEquipment 2023-04-01 2024-03-31 4447223 frs-core:FurnitureFittings 2023-04-01 2024-03-31 4447223 frs-core:NetGoodwill 2024-03-31 4447223 frs-core:NetGoodwill 2023-04-01 2024-03-31 4447223 frs-core:NetGoodwill 2023-03-31 4447223 frs-core:LandBuildings 2024-03-31 4447223 frs-core:LandBuildings 2023-04-01 2024-03-31 4447223 frs-core:LandBuildings 2023-03-31 4447223 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 4447223 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 4447223 frs-core:MotorVehicles 2023-04-01 2024-03-31 4447223 frs-core:PlantMachinery 2024-03-31 4447223 frs-core:PlantMachinery 2023-04-01 2024-03-31 4447223 frs-core:PlantMachinery 2023-03-31 4447223 frs-core:ShareCapital 2024-03-31 4447223 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 4447223 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 4447223 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 4447223 frs-bus:SmallEntities 2023-04-01 2024-03-31 4447223 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 4447223 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 4447223 1 2023-04-01 2024-03-31 4447223 frs-core:DeferredTaxation 2023-04-01 2024-03-31 4447223 frs-core:DeferredTaxation 2023-03-31 4447223 frs-core:DeferredTaxation 2024-03-31 4447223 frs-bus:Director1 2023-04-01 2024-03-31 4447223 frs-bus:Director2 2023-04-01 2024-03-31 4447223 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 4447223 frs-bus:CompanySecretary2 2023-04-01 2024-03-31 4447223 frs-core:CurrentFinancialInstruments 1 2024-03-31 4447223 frs-countries:EnglandWales 2023-04-01 2024-03-31 4447223 2022-03-31 4447223 2023-03-31 4447223 2022-04-01 2023-03-31 4447223 frs-core:CurrentFinancialInstruments 2023-03-31 4447223 frs-core:ShareCapital 2023-03-31 4447223 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 4447223 frs-core:CurrentFinancialInstruments 1 2023-03-31 4447223 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 4447223
Chemilab Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Charts Accountants LLP
Chartered Certified Accountants
17-19 Church Road
Northfield
Birmingham
B31 2JZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 4447223
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,356,756 1,448,160
Tangible Assets 5 988,111 585,911
2,344,867 2,034,071
CURRENT ASSETS
Stocks 6 193,785 235,764
Debtors 7 497,132 493,096
Cash at bank and in hand 1,721,305 1,937,019
2,412,222 2,665,879
Creditors: Amounts Falling Due Within One Year 8 (683,528 ) (703,352 )
NET CURRENT ASSETS (LIABILITIES) 1,728,694 1,962,527
TOTAL ASSETS LESS CURRENT LIABILITIES 4,073,561 3,996,598
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (36,387 ) (39,767 )
NET ASSETS 4,037,174 3,956,831
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 4,037,173 3,956,830
SHAREHOLDERS' FUNDS 4,037,174 3,956,831
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Girish Mehta
Director
7th October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Chemilab Limited Registered number 4447223 is a limited by shares company incorporated in England & Wales. The Registered Office is 103 North Approach, Watford, Hertfordshire, WD25 0EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of twenty years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Leasehold over the term of the lease
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 29)
29 29
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 3,491,761
As at 31 March 2024 3,491,761
Amortisation
As at 1 April 2023 2,043,601
Provided during the period 91,404
As at 31 March 2024 2,135,005
Net Book Value
As at 31 March 2024 1,356,756
As at 1 April 2023 1,448,160
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2023 583,124 699,199 1,282,323
Additions 442,382 35,000 477,382
As at 31 March 2024 1,025,506 734,199 1,759,705
Depreciation
As at 1 April 2023 156,279 540,133 696,412
Provided during the period 26,664 48,518 75,182
As at 31 March 2024 182,943 588,651 771,594
Net Book Value
As at 31 March 2024 842,563 145,548 988,111
As at 1 April 2023 426,845 159,066 585,911
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6. Stocks
2024 2023
£ £
Materials 193,785 235,764
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 40,878 26,974
Amount due from NHS 329,569 332,311
Rent deposit - 7,500
VAT 126,685 126,311
497,132 493,096
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 574,211 574,786
Other creditors 32,945 50,797
Taxation and social security 76,372 77,769
683,528 703,352
9. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2024 2023
£ £
Other timing differences 36,387 39,767
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 39,767 39,767
Reversals (3,380 ) (3,380)
Balance at 31 March 2024 36,387 36,387
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr and Mrs G. Mehta by virtue of their joint ownership of 100% of the issued share capital in the company.
Page 6