14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 342,000 341,999 1 342,000 1 150,000 50,000 21,525 121,525 121,525 150,000 xbrli:pure xbrli:shares iso4217:GBP 01652309 2023-08-01 2024-07-31 01652309 2024-07-31 01652309 2023-07-31 01652309 2022-08-01 2023-07-31 01652309 2023-07-31 01652309 2022-07-31 01652309 core:FurnitureFittings 2023-08-01 2024-07-31 01652309 core:MotorVehicles 2023-08-01 2024-07-31 01652309 bus:Director2 2023-08-01 2024-07-31 01652309 bus:Director3 2023-08-01 2024-07-31 01652309 core:NetGoodwill 2023-07-31 01652309 core:NetGoodwill 2024-07-31 01652309 core:LandBuildings 2023-07-31 01652309 core:FurnitureFittings 2023-07-31 01652309 core:MotorVehicles 2023-07-31 01652309 core:LandBuildings 2024-07-31 01652309 core:FurnitureFittings 2024-07-31 01652309 core:MotorVehicles 2024-07-31 01652309 core:LandBuildings 2023-08-01 2024-07-31 01652309 core:WithinOneYear 2024-07-31 01652309 core:WithinOneYear 2023-07-31 01652309 core:AfterOneYear 2024-07-31 01652309 core:AfterOneYear 2023-07-31 01652309 core:ShareCapital 2024-07-31 01652309 core:ShareCapital 2023-07-31 01652309 core:SharePremium 2024-07-31 01652309 core:SharePremium 2023-07-31 01652309 core:RevaluationReserve 2024-07-31 01652309 core:RetainedEarningsAccumulatedLosses 2024-07-31 01652309 core:RetainedEarningsAccumulatedLosses 2023-07-31 01652309 core:NetGoodwill 2023-08-01 2024-07-31 01652309 core:NetGoodwill 2023-07-31 01652309 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 01652309 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-07-31 01652309 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2024-07-31 01652309 core:CostValuation core:Non-currentFinancialInstruments 2024-07-31 01652309 core:Non-currentFinancialInstruments 2024-07-31 01652309 core:Non-currentFinancialInstruments 2023-07-31 01652309 core:LandBuildings 2023-07-31 01652309 core:FurnitureFittings 2023-07-31 01652309 core:MotorVehicles 2023-07-31 01652309 bus:SmallEntities 2023-08-01 2024-07-31 01652309 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 01652309 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 01652309 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01652309 bus:FullAccounts 2023-08-01 2024-07-31 01652309 core:AllAssociates 2024-07-31 01652309 core:AllAssociates 2023-07-31
COMPANY REGISTRATION NUMBER: 01652309
Cedric's Chemist Limited
Filleted Unaudited Financial Statements
31 July 2024
Cedric's Chemist Limited
Statement of Financial Position
31 July 2024
2024
2023
(restated)
Note
£
£
£
Fixed Assets
Intangible assets
5
1
Tangible assets
6
1,875,292
415,250
Investments
7
121,525
150,000
------------
---------
1,996,817
565,251
Current Assets
Stocks
64,390
64,452
Debtors
8
528,786
468,012
Cash at bank and in hand
99,830
155,271
---------
---------
693,006
687,735
Creditors: amounts falling due within one year
9
655,599
343,626
---------
---------
Net Current Assets
37,407
344,109
------------
---------
Total Assets Less Current Liabilities
2,034,224
909,360
Creditors: amounts falling due after more than one year
10
250,169
253,012
------------
---------
Net Assets
1,784,055
656,348
------------
---------
Capital and Reserves
Called up share capital
100
100
Share premium account
37,349
37,349
Revaluation reserve
1,178,619
Profit and loss account
567,987
618,899
------------
---------
Shareholders Funds
1,784,055
656,348
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cedric's Chemist Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 11 April 2025 , and are signed on behalf of the board by:
A S Yeramian
Mrs C L Mkhitarian
Director
Director
Company registration number: 01652309
Cedric's Chemist Limited
Notes to the Financial Statements
Year Ended 31 July 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 London Road, Alderley Edge, Cheshire, SK9 7JS, England.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line over 15 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
21 year lease straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in Associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in Joint Ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 12 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 August 2023 (as restated) and 31 July 2024
342,000
---------
Amortisation
At 1 August 2023
341,999
Charge for the year
1
---------
At 31 July 2024
342,000
---------
Carrying amount
At 31 July 2024
---------
At 31 July 2023
1
---------
6. Tangible Assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 August 2023 (as restated)
448,724
53,183
44,344
546,251
Additions
14,724
14,724
Disposals
( 10,383)
( 10,383)
Revaluations
1,455,085
1,455,085
------------
--------
--------
------------
At 31 July 2024
1,903,809
53,183
48,685
2,005,677
------------
--------
--------
------------
Depreciation
At 1 August 2023
34,615
52,045
44,341
131,001
Charge for the year
4,945
1,138
3,684
9,767
Disposals
( 10,383)
( 10,383)
------------
--------
--------
------------
At 31 July 2024
39,560
53,183
37,642
130,385
------------
--------
--------
------------
Carrying amount
At 31 July 2024
1,864,249
11,043
1,875,292
------------
--------
--------
------------
At 31 July 2023
414,109
1,138
3
415,250
------------
--------
--------
------------
7. Investments
Other investments other than loans
£
Cost
At 1 August 2023 as restated
150,000
Disposals
( 50,000)
Other movements
21,525
---------
At 31 July 2024
121,525
---------
Impairment
At 1 August 2023 as restated and 31 July 2024
---------
Carrying amount
At 31 July 2024
121,525
---------
At 31 July 2023
150,000
---------
8. Debtors
2024
2023
(restated)
£
£
Trade debtors
89,162
90,573
Amounts owed by group undertakings and undertakings in which the company has a participating interest
420,890
356,441
Other debtors
18,734
20,998
---------
---------
528,786
468,012
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
67,210
70,680
Trade creditors
158,986
177,637
Corporation tax
278,564
17,183
Social security and other taxes
1,860
3,653
Other creditors
148,979
74,473
---------
---------
655,599
343,626
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
250,169
253,012
---------
---------
11. Related Party Transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
CCM Industries Ltd
64,448
133,600
420,890
356,441
--------
---------
---------
---------
This balance is due to the parent company and is interest free and repayable on demand.
12. Controlling Party
CCM Industries Ltd, a company incorporated and registered in the UK owns 100% of the Ordinary A shares in issue.