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REGISTERED NUMBER: 07689509 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

DAYCHEM LTD

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


DAYCHEM 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: 07689509 (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

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 76,844 97,327

CURRENT ASSETS
Stocks 5 205,717 162,484
Debtors 6 877,353 654,532
Cash at bank and in hand 119,989 375,822
1,203,059 1,192,838
CREDITORS
Amounts falling due within one year 7 (642,883 ) (662,133 )
NET CURRENT ASSETS 560,176 530,705
TOTAL ASSETS LESS CURRENT
LIABILITIES

637,020

628,032

PROVISIONS FOR LIABILITIES 9 (19,210 ) (18,492 )
NET ASSETS 617,810 609,540

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 11 617,510 609,240
SHAREHOLDERS' FUNDS 617,810 609,540

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.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


1. STATUTORY INFORMATION

Daychem 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% 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.

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.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 238,796 20,796 259,592
DEPRECIATION
At 1 March 2023 161,832 433 162,265
Charge for year 15,392 5,091 20,483
At 29 February 2024 177,224 5,524 182,748
NET BOOK VALUE
At 29 February 2024 61,572 15,272 76,844
At 28 February 2023 76,964 20,363 97,327

5. STOCKS
2024 2023
£    £   
Stocks 205,717 162,484

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 241,344 230,417
Other debtors 550,115 315,334
VAT 82,346 100,840
Prepayments and accrued income 3,548 7,941
877,353 654,532

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 463,206 504,547
Corporation tax 9,823 2,238
Social security and other taxes 2,365 2,157
Other creditors 432 365
Directors' loan accounts - 2,009
Accruals and deferred income 167,057 150,817
642,883 662,133

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years - 6,000
In more than five years 18,810 19,365
18,810 25,365

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 19,210 18,492

Deferred
tax
£   
Balance at 1 March 2023 18,492
Charged during the year 718
Balance at 29 February 2024 19,210

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300

11. RESERVES
Retained
earnings
£   

At 1 March 2023 609,240
Profit for the year 8,270
At 29 February 2024 617,510

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 29 February 2024, there was a loan from Mr J Rahania of £Nil (2023: £329). This unsecured loan is interest free and repayable on demand.

At 29 February 2024, there was a loan from Mr R Rahania of £Nil (2023: £1,248). This unsecured loan is interest free and repayable on demand.

At 29 February 2024, there was a loan from Mr R K Saroy of £Nil (2023: £432). This unsecured loan is interest free and repayable on demand.

DAYCHEM LTD (REGISTERED NUMBER: 07689509)

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


13. RELATED PARTY DISCLOSURES

A management service charge has been paid during the year to Nightchem Limited of £16,808 (2023: £17,304).

At 29 February 2024, there was a loan to Wellington Pharmacy Limited of £42,501 (2023: £336), a company in which Mr J S 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 to RJR Chem Ltd of £9,399 (2023: £75,667), a company in which Mr J S 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 to Church Street Healthcare Limited of £498,187 (2023: £239,303), a company in which Mr J S Rahania, Mr R Rahania and Mr R K Saroy are directors. This unsecured loan is interest free and repayable on demand.