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REGISTERED NUMBER: 05052213 (England and Wales)















Financial Statements for the Year Ended 31 August 2024

for

Vichem Limited

Vichem Limited (Registered number: 05052213)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vichem Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: W S Matthews
L M Matthews





REGISTERED OFFICE: 110 Whitchurch Road
Cardiff
CF14 3LY





REGISTERED NUMBER: 05052213 (England and Wales)





ACCOUNTANTS: DHB Accountants Limited
Chartered Accountants
Statutory Auditors
110 Whitchurch Road
Cardiff
CF14 3LY

Vichem Limited (Registered number: 05052213)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 429,076 433,833

CURRENT ASSETS
Cash at bank 8,341 4,869

CREDITORS
Amounts falling due within one year 5 48,060 49,447
NET CURRENT LIABILITIES (39,719 ) (44,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,357

389,255

CREDITORS
Amounts falling due after more than one
year

6

218,327

225,152
NET ASSETS 171,030 164,103

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 171,028 164,101
SHAREHOLDERS' FUNDS 171,030 164,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

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

Vichem Limited (Registered number: 05052213)

Balance Sheet - continued
31 August 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 17 October 2024 and were signed on its behalf by:





W S Matthews - Director


Vichem Limited (Registered number: 05052213)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Vichem 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.

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.

This is the first year of the adoption of FRS102. There were no transitional adjustments required as a result of the adoption.

The financial statements are presented in pounds sterling

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.
Land and buildings - in accordance with the property

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.

Taxation
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

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

Vichem Limited (Registered number: 05052213)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 September 2023
and 31 August 2024 500,702
DEPRECIATION
At 1 September 2023 66,869
Charge for year 4,757
At 31 August 2024 71,626
NET BOOK VALUE
At 31 August 2024 429,076
At 31 August 2023 433,833

The current market value of the freehold land and buildings included in the accounts may be below the cost stated in the accounts less depreciation. The directors are of the view that in the longer term values will recover and they do not consider an adjustment for diminution in value necessary.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,285 15,285
Trade creditors - 1
Taxation and social security 4,568 4,238
Other creditors 28,207 29,923
48,060 49,447

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 173,847 189,672
Other creditors 44,480 35,480
218,327 225,152

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 112,707 128,532

Vichem Limited (Registered number: 05052213)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 189,132 204,957

Bank loans and overdraft are secured by way of fixed and floating charge over the assets of the company and by way of formal debenture.

8. RELATED PARTY DISCLOSURES

During the year rent was charged to company controlled by the director of £48,000 (2023:£48,000) and a management charge was paid to this company of £12,000 (2023 :£12,000)

9. ULTIMATE CONTROLLING PARTY

The directors are deemed to be the ultimate controlling parties by virtues of their shareholdings.