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REGISTERED NUMBER: 03209469 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

ASTON CHEMIST LIMITED

ASTON CHEMIST LIMITED (Registered number: 03209469)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASTON CHEMIST LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: R S Nagra
Mrs A Nagra





REGISTERED OFFICE: 30 Great Bridge
Tipton
DY4 7EW





REGISTERED NUMBER: 03209469 (England and Wales)





ACCOUNTANTS: Aggarwal & Co
Chartered Certified Accountants
471 Green Lane
Coventry
West Midlands
CV3 6EL

ASTON CHEMIST LIMITED (Registered number: 03209469)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,706 2,180

CURRENT ASSETS
Stocks 41,821 35,628
Debtors 5 356,671 329,186
Cash at bank and in hand 90,336 77,225
488,828 442,039
CREDITORS
Amounts falling due within one year 6 100,459 116,607
NET CURRENT ASSETS 388,369 325,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,075

327,612

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 400,975 327,512
401,075 327,612

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 4 February 2025 and were signed on its behalf by:





R S Nagra - Director


ASTON CHEMIST LIMITED (Registered number: 03209469)

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

1. STATUTORY INFORMATION

ASTON CHEMIST 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.

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 - 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

ASTON CHEMIST LIMITED (Registered number: 03209469)

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

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 June 2023 45,715
Additions 14,761
At 31 May 2024 60,476
DEPRECIATION
At 1 June 2023 43,535
Charge for year 4,235
At 31 May 2024 47,770
NET BOOK VALUE
At 31 May 2024 12,706
At 31 May 2023 2,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 69,102 74,544
Amounts owed by group undertakings 271,190 237,220
Other debtors 16,379 17,422
356,671 329,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 95,100 113,817
Taxation and social security 3,370 927
Other creditors 1,989 1,863
100,459 116,607

7. RESERVES
Retained
earnings
£   

At 1 June 2023 327,512
Profit for the year 73,463
At 31 May 2024 400,975

8. RELATED PARTY DISCLOSURES

The Company is a subsidiary of R & A Nagra Ltd, a company registered in England and Wales.

ASTON CHEMIST LIMITED (Registered number: 03209469)

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

9. ULTIMATE CONTROLLING PARTY

Mr R Nagra and Mrs A Nagra are ultimate controller of the company.