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REGISTERED NUMBER: 09419483 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

RJR CHEM LTD

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RJR CHEM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J S Rahania
R Rahania
R K Saroy



REGISTERED OFFICE: 20 Coningsby Drive
Wolverhampton
West Midlands
WV2 2RN



REGISTERED NUMBER: 09419483 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds Bank plc
3 Queen Square
Wolverhampton
West Midlands
WV1 1RF

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,228,322 2,172,760
Tangible assets 5 176,934 209,621
Investments 6 1,543,093 1,543,093
5,948,349 3,925,474

CURRENT ASSETS
Stocks 7 503,459 169,218
Debtors 8 1,381,389 618,938
Cash at bank and in hand 405,771 183,868
2,290,619 972,024
CREDITORS
Amounts falling due within one year 9 (4,013,915 ) (2,152,889 )
NET CURRENT LIABILITIES (1,723,296 ) (1,180,865 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,225,053

2,744,609

CREDITORS
Amounts falling due after more than one
year

10

(3,752,928

)

(2,119,008

)

PROVISIONS FOR LIABILITIES 14 (44,234 ) (39,828 )
NET ASSETS 427,891 585,773

CAPITAL AND RESERVES
Called up share capital 15 3 3
Retained earnings 16 427,888 585,770
SHAREHOLDERS' FUNDS 427,891 585,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 16 October 2024 and were signed on its behalf by:




J S Rahania - Director



R K Saroy - Director


RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

RJR Chem 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.


RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 48 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 2,353,821
Additions 2,252,920
At 29 February 2024 4,606,741
AMORTISATION
At 1 March 2023 181,061
Amortisation for year 197,358
At 29 February 2024 378,419
NET BOOK VALUE
At 29 February 2024 4,228,322
At 28 February 2023 2,172,760

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 March 2023 277,966 20,796 298,762
Additions 12,090 - 12,090
At 29 February 2024 290,056 20,796 310,852
DEPRECIATION
At 1 March 2023 88,708 433 89,141
Charge for year 39,686 5,091 44,777
At 29 February 2024 128,394 5,524 133,918
NET BOOK VALUE
At 29 February 2024 161,662 15,272 176,934
At 28 February 2023 189,258 20,363 209,621

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures,
fittings
& equipment
£   
COST
At 1 March 2023
and 29 February 2024 190,290
DEPRECIATION
At 1 March 2023 78,653
Charge for year 22,328
At 29 February 2024 100,981
NET BOOK VALUE
At 29 February 2024 89,309
At 28 February 2023 111,637

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 1,543,093
NET BOOK VALUE
At 29 February 2024 1,543,093
At 28 February 2023 1,543,093

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Church Street Healthcare Limited
Registered office: 20 Coningsby Drive, Wolverhampton, West Midlands, WV2 2RN
Nature of business: Retail pharmacy
%
Class of shares: holding
Ordinary shares 100.00
29.2.24 28.2.23
£    £   
Aggregate capital and reserves 979,133 858,871
Profit for the year 120,262 62,321

7. STOCKS
2024 2023
£    £   
Stocks 503,459 169,218

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 649,835 242,626
Other debtors 338,760 244,944
VAT 197,475 104,132
Prepayments and accrued income 195,319 27,236
1,381,389 618,938

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 275,485 221,869
Hire purchase contracts (see note 12) 35,266 34,369
Trade creditors 1,278,361 729,579
Amounts owed to group undertakings 1,455,218 908,722
Corporation tax 66,060 127,120
Social security and other taxes 15,409 8,261
Other creditors 822,836 118,955
Directors' loan accounts - 20
Accruals and deferred income 65,280 3,994
4,013,915 2,152,889

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 11) 3,731,928 2,062,742
Hire purchase contracts (see note 12) 21,000 56,266
3,752,928 2,119,008

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,848,100 1,354,607

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 275,485 221,869

Amounts falling due between one and two years:
Bank loans - 1-2 years 259,674 213,381

Amounts falling due between two and five years:
Bank loans - 2-5 years 624,154 494,754

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,848,100 1,354,607

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 35,266 34,369
Between one and five years 21,000 56,266
56,266 90,635

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


12. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
In more than five years 198,734 84,461

13. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,007,413 2,284,611

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 44,234 39,828

Deferred
tax
£   
Balance at 1 March 2023 39,828
Charged during the year 4,406
Balance at 29 February 2024 44,234

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

16. RESERVES
Retained
earnings
£   

At 1 March 2023 585,770
Deficit for the year (67,882 )
Dividends (90,000 )
At 29 February 2024 427,888

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 29 February 2024, there was a loan from Mr R K Saroy of £Nil (2023: £20). This unsecured loan is interest free and repayable on demand.

RJR CHEM LTD (REGISTERED NUMBER: 09419483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


18. RELATED PARTY DISCLOSURES

At 29 February 2024 there was a loan due to Church Street Healthcare Limited of £1,455,218 (2023: £908,722), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. The company is the parent undertaking of Church Street Healthcare Limited. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due from Wellington Pharmacy Limited of £Nil (2023: £59,849), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due to Wellington Pharmacy Limited of £710,360 (2023: £Nil), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due to Daychem Ltd of £9,399 (2023: £75,667), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due to Nightchem Limited of £33,351 (2023: £36,351), a company in which Mr J Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due from Saroy Property Investments Limited of £100,000 (2023: £100,000), a company in which Mr R K Saroy is a director. This unsecured loan is interest free and repayable on demand.

At 29 February 2024 there was a loan due from Investment House Limited of £100,000 (2023: £Nil), a company in which Mr R Rahania is a director. This unsecured loan is interest free and repayable on demand.