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REGISTERED NUMBER: 04723469 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 April 2024

for

KNS Chemists Limited

KNS Chemists Limited (Registered number: 04723469)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KNS Chemists Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Vijay Kumar Patel
Mrs Jyoti Patel





SECRETARY: Mrs Jyoti Patel





REGISTERED OFFICE: Coronation Parade
42 Cannon Lane
Pinner
Middlesex
HA5 1HW





REGISTERED NUMBER: 04723469 (England and Wales)






KNS Chemists Limited (Registered number: 04723469)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,219 3,692

CURRENT ASSETS
Stocks 135,750 89,950
Debtors 6 129,677 103,236
Cash at bank and in hand 558,145 590,088
823,572 783,274
CREDITORS
Amounts falling due within one year 7 247,269 253,603
NET CURRENT ASSETS 576,303 529,671
TOTAL ASSETS LESS CURRENT LIABILITIES 579,522 533,363

PROVISIONS FOR LIABILITIES 9 304 297
NET ASSETS 579,218 533,066

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 579,118 532,966
SHAREHOLDERS' FUNDS 579,218 533,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

KNS Chemists Limited (Registered number: 04723469)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:




Vijay Kumar Patel - Director



Mrs Jyoti Patel - Director


KNS Chemists Limited (Registered number: 04723469)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

KNS 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net value of pharmaceutical goods and services sold during the period. Turnover is measured at the fair value of the consideration receivable net of value added tax and any customer rebates and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Straight line over the lease term
Fixtures, fittings & equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and any other costs incurred in bringing the stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

KNS Chemists Limited (Registered number: 04723469)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Going concern
The company meets its day-to-day working capital requirements through careful management of its working capital positions. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

Employee benefits
When employees have rendered services to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
property & equipment Totals
£    £    £   
COST
At 1 May 2023 7,507 109,430 116,937
Additions - 1,423 1,423
At 30 April 2024 7,507 110,853 118,360
DEPRECIATION
At 1 May 2023 5,005 108,240 113,245
Charge for year 500 1,396 1,896
At 30 April 2024 5,505 109,636 115,141
NET BOOK VALUE
At 30 April 2024 2,002 1,217 3,219
At 30 April 2023 2,502 1,190 3,692

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 93,668 81,739
Other debtors 36,009 21,497
129,677 103,236

KNS Chemists Limited (Registered number: 04723469)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade creditors 193,980 201,117
Taxation and social security 44,727 41,550
Other creditors 8,562 10,936
247,269 253,603

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/4/24 30/4/23
£    £   
Within one year 16,250 16,250
Between one and five years 52,813 65,000
In more than five years - 4,063
69,063 85,313

9. PROVISIONS FOR LIABILITIES
30/4/24 30/4/23
£    £   
Deferred tax 304 297

Deferred
tax
£   
Balance at 1 May 2023 297
Accelerated capital allowances 7
Balance at 30 April 2024 304

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
100 "A" Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30/4/24 30/4/23
£    £   
Vijay Kumar Patel
Balance outstanding at start of year - 4,161
Amounts advanced 11,972 2,082
Amounts repaid (8,542 ) (6,243 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,430 -

KNS Chemists Limited (Registered number: 04723469)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs Jyoti Patel
Balance outstanding at start of year - 757
Amounts advanced 8,485 2,600
Amounts repaid (363 ) (3,357 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,122 -

The above loan balances were interest free and were repayable on demand.