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REGISTERED NUMBER: 04652999 (England and Wales)









SACH CHEMISTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)






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


SACH CHEMISTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G S Sembhi
Mrs J K Sembhi





SECRETARY: Mrs J K Sembhi





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
SOUTH GLAMORGAN
CF14 2DX





REGISTERED NUMBER: 04652999 (England and Wales)






SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 569,041 60,106
Tangible assets 5 696,826 733,159
Investments 6 3,196,503 3,196,503
4,462,370 3,989,768

CURRENT ASSETS
Stocks 7 179,794 131,480
Debtors 8 1,082,731 397,793
Cash at bank and in hand 125,664 755,928
1,388,189 1,285,201
CREDITORS
Amounts falling due within one year 9 2,896,890 2,357,251
NET CURRENT LIABILITIES (1,508,701 ) (1,072,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,953,669

2,917,718

CREDITORS
Amounts falling due after more than one
year

10

(2,474,239

)

(2,259,486

)

PROVISIONS FOR LIABILITIES 13 (26,469 ) (32,408 )
NET ASSETS 452,961 625,824

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 452,960 625,823
SHAREHOLDERS' FUNDS 452,961 625,824

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.

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 29 January 2025 and were signed on its behalf by:





Mrs J K Sembhi - Director


SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Sach 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Sach Chemists Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:-

Revenue represents retail sales to customers and is measured at fair value of the consideration received or receivable and is recognised when all risk and rewards of ownership are transferred to the end customer.

NHS income is recognised in the period which it is due.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Acquisition of a new business in 2024, is also being amortised evenly over its estimated useful life of five 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and estimated selling price less cost to sell 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.


SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions are recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised with deferred income.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Where there are a number of similar obligations, the likelihood that an outflow of economic benefits will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect of any one item in the same class of obligations may be small.

Provisions are not made for future operating losses.

Provisions are measures at the present value of the cost expected to be required to settle the obligation using a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passing of time is recognised as a cost in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 1,275,133
Additions 604,571
At 30 April 2024 1,879,704
AMORTISATION
At 1 May 2023 1,215,027
Amortisation for year 95,636
At 30 April 2024 1,310,663
NET BOOK VALUE
At 30 April 2024 569,041
At 30 April 2023 60,106

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 628,674 224,177 103,256 3,418 959,525
Additions - - - 6,632 6,632
At 30 April 2024 628,674 224,177 103,256 10,050 966,157
DEPRECIATION
At 1 May 2023 25,147 148,489 50,557 2,173 226,366
Charge for year 12,573 15,138 13,175 2,079 42,965
At 30 April 2024 37,720 163,627 63,732 4,252 269,331
NET BOOK VALUE
At 30 April 2024 590,954 60,550 39,524 5,798 696,826
At 30 April 2023 603,527 75,688 52,699 1,245 733,159

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 95,806
DEPRECIATION
At 1 May 2023 47,531
Charge for year 12,070
At 30 April 2024 59,601
NET BOOK VALUE
At 30 April 2024 36,205
At 30 April 2023 48,275

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 3,196,503
NET BOOK VALUE
At 30 April 2024 3,196,503
At 30 April 2023 3,196,503

7. STOCKS
2024 2023
£    £   
Stocks 179,794 131,480

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 424,772 199,660
Other debtors 5,325 76,043
Intercompany debtor 518,385 -
VAT 108,474 86,005
Prepayments 25,775 36,085
1,082,731 397,793

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 218,276 186,076
Hire purchase contracts (see note 12) 6,275 6,275
Trade creditors 404,585 336,567
Tax 85,499 37,203
Social security and other taxes 5,802 3,223
Other creditors 142,900 129,723
Due to company undertakings 1,856,325 1,522,855
Directors' current accounts 170,343 121,093
Accrued expenses 6,885 14,236
2,896,890 2,357,251

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 2,426,148 2,205,120
Hire purchase contracts (see note 12) 48,091 54,366
2,474,239 2,259,486

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 218,276 186,076

Amounts falling due between one and two years:
Bank loans - 1-2 years 224,480 186,076

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,201,668 2,019,044

12. LEASING AGREEMENTS

At 30 April 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £293,000 - (2023 - £199,500).

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,469 32,408

Deferred
tax
£   
Balance at 1 May 2023 32,408
Accelerated capital allowances (5,939 )
Balance at 30 April 2024 26,469

SACH CHEMISTS LIMITED (REGISTERED NUMBER: 04652999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

14. TRANSACTIONS WITH DIRECTORS

As at 30 April 2024 and amount of £170,343 (2023 £121,093) was owed to the directors. The balance is interest free and payable on demand and included within creditors due within one year.

A director has provided personal guarantees, under non-cancellable operating lease agreements, for which the remaining payable life of those leases amounts to £180,500 (2023 - £199,500).

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group.