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REGISTERED NUMBER: 06974260 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

CHEMLAB LTD

CHEMLAB LTD (REGISTERED NUMBER: 06974260)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHEMLAB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr F A Khan
Mr M A Khan





REGISTERED OFFICE: Unit 2C, Redbrook Business Park
Wilthorpe Road
Barnsley
South Yorkshire
S75 1JN





REGISTERED NUMBER: 06974260 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,808 11,016

CURRENT ASSETS
Stocks 24,000 22,000
Debtors 5 10,763 21,488
34,763 43,488
CREDITORS
Amounts falling due within one year 6 463,989 454,031
NET CURRENT LIABILITIES (429,226 ) (410,543 )
TOTAL ASSETS LESS CURRENT LIABILITIES (423,418 ) (399,527 )

CREDITORS
Amounts falling due after more than one
year

7

120,646

127,824
NET LIABILITIES (544,064 ) (527,351 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (544,065 ) (527,352 )
SHAREHOLDERS' FUNDS (544,064 ) (527,351 )

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

BALANCE SHEET - continued
31 JULY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 and authorised for issue by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





Mr F A Khan - Director


CHEMLAB LTD (REGISTERED NUMBER: 06974260)

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

1. STATUTORY INFORMATION

Chemlab Ltd 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

The financial statements have been prepared on a going concern basis on the grounds that the company's Director will financially support the company for the foreseeable future.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover from the sale of nutritional food supplements is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Subscription income is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.


CHEMLAB LTD (REGISTERED NUMBER: 06974260)

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

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Going concern
The financial statements have been prepared on a going concern basis. The expected income and expenditure, together with the continued financial support of the directors and other loan creditors allows the company to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2023 109,529
Additions 3,770
At 31 July 2024 113,299
DEPRECIATION
At 1 August 2023 98,513
Charge for year 8,978
At 31 July 2024 107,491
NET BOOK VALUE
At 31 July 2024 5,808
At 31 July 2023 11,016

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 10,198 15,198
VAT 565 6,290
10,763 21,488

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 11,428 9,180
Other loans - 5,000
Other creditors 37,746 37,746
Directors' current accounts 410,509 397,758
Accruals and deferred income 4,306 4,347
463,989 454,031

CHEMLAB LTD (REGISTERED NUMBER: 06974260)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1 - 5 years 15,800 15,800
Bank loans - more than 5 years 7,284 12,024
Other loans 20,000 20,000
Other loans more 5yrs instal 77,562 80,000
120,646 127,824

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 77,562 80,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary shares 1 1 1

9. FINANCIAL COMMITMENTS

At the year end the company was committed to expenditure of £9,208 (2023 : £15,114).