IRIS Accounts Production v24.3.2.46 04611327 Board of Directors Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046113272023-05-31046113272024-05-31046113272023-06-012024-05-31046113272022-05-31046113272022-06-012023-05-31046113272023-05-3104611327ns15:EnglandWales2023-06-012024-05-3104611327ns14:PoundSterling2023-06-012024-05-3104611327ns10:Director12023-06-012024-05-3104611327ns10:Director22023-06-012024-05-3104611327ns10:Director32023-06-012024-05-3104611327ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3104611327ns10:SmallEntities2023-06-012024-05-3104611327ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3104611327ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3104611327ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3104611327ns10:FullAccounts2023-06-012024-05-3104611327ns10:OrdinaryShareClass12023-06-012024-05-3104611327ns10:OrdinaryShareClass22023-06-012024-05-3104611327ns10:CompanySecretary12023-06-012024-05-3104611327ns10:RegisteredOffice2023-06-012024-05-3104611327ns5:CurrentFinancialInstruments2024-05-3104611327ns5:CurrentFinancialInstruments2023-05-3104611327ns5:ShareCapital2024-05-3104611327ns5:ShareCapital2023-05-3104611327ns5:RetainedEarningsAccumulatedLosses2024-05-3104611327ns5:RetainedEarningsAccumulatedLosses2023-05-3104611327ns5:FurnitureFittings2023-06-012024-05-3104611327ns5:LandBuildings2023-05-3104611327ns5:FurnitureFittings2023-05-3104611327ns5:LandBuildings2023-06-012024-05-3104611327ns5:LandBuildings2024-05-3104611327ns5:FurnitureFittings2024-05-3104611327ns5:LandBuildings2023-05-3104611327ns5:FurnitureFittings2023-05-3104611327ns5:CostValuation2023-05-3104611327ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3104611327ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3104611327ns10:OrdinaryShareClass12024-05-3104611327ns10:OrdinaryShareClass22024-05-31
REGISTERED NUMBER: 04611327 (England and Wales)





PRIMACHEM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIMACHEM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr J H R Leah
Mrs J E Leah
Mr M Leah



SECRETARY: Mr J H R Leah



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 04611327 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Nat West
69 Bridge Street
Worksop
Nottinghamshire
S80 4JE

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 95,722 95,788
Investments 6 245 245
95,967 96,033

CURRENT ASSETS
Stocks 7 70,760 70,000
Debtors 8 136,023 124,743
Cash at bank and in hand 395,281 341,166
602,064 535,909
CREDITORS
Amounts falling due within one year 9 375,273 319,873
NET CURRENT ASSETS 226,791 216,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,758

312,069

PROVISIONS FOR LIABILITIES 75 69
NET ASSETS 322,683 312,000

CAPITAL AND RESERVES
Called up share capital 10 1,001 1,001
Retained earnings 321,682 310,999
SHAREHOLDERS' FUNDS 322,683 312,000

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

BALANCE SHEET - continued
31 MAY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 18 January 2025 and were signed on its behalf by:




Mr J H R Leah - Director Mrs J E Leah - Director




Mr M Leah - Director


PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Primachem 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. With a modification in respect of fair value.

Significant judgements and estimates
The significant judgements and estimates are as follows:

The directors estimate of the residual value of the property and consider that if any depreciation was to be charged, would be immaterial.

The asset under construction contained within stock relates to a property purchased and then renovated by the company for resale. The value in the financial statements is at cost. The directors consider that this is a fair value.

The other significant judgements and estimates are detailed in the accounting policy of the fixed assets depreciation rates. The rates are annually reviewed in line to what the directors believe the assets are worth taken into account the income streams generated by those assets.

Turnover
Turnover represents the value excluding Value Added Tax of pharmacy goods and services provided to customers during the year. In respect of pharmacy goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued

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.

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.

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 95,348 6,421 101,769
DEPRECIATION
At 1 June 2023 - 5,981 5,981
Charge for year - 66 66
At 31 May 2024 - 6,047 6,047
NET BOOK VALUE
At 31 May 2024 95,348 374 95,722
At 31 May 2023 95,348 440 95,788

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 245
NET BOOK VALUE
At 31 May 2024 245
At 31 May 2023 245

7. STOCKS
2024 2023
£    £   
Stocks 70,760 70,000

PRIMACHEM LIMITED (REGISTERED NUMBER: 04611327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,119 79,788
VAT 43,558 42,839
Prepayments 1,346 2,116
136,023 124,743

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 172,193 156,481
Other creditors 850 80
Corporation tax 13,675 15,403
Social security and other taxes 1,306 1,621
Directors' current accounts 178,064 135,270
Accruals and deferred income 9,185 11,018
375,273 319,873

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000
1 Ordinary A £1 1 1
1,001 1,001

11. RELATED PARTY TRANSACTIONS

Key management personnel remuneration in the year totalled £18, 480 (2023: £19,183)