MANCHESTER CHEMIST LTD

Company Registration Number:
10792425 (England and Wales)

Unaudited abridged accounts for the year ended 28 July 2024

Period of accounts

Start date: 30 July 2023

End date: 28 July 2024

MANCHESTER CHEMIST LTD

Contents of the Financial Statements

for the Period Ended 28 July 2024

Balance sheet
Notes

MANCHESTER CHEMIST LTD

Balance sheet

As at 28 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 4,411 4,938
Total fixed assets: 4,411 4,938
Current assets
Stocks: 46,180 58,595
Debtors:   74,884 65,226
Cash at bank and in hand: 42,313 39,321
Total current assets: 163,377 163,142
Creditors: amounts falling due within one year:   (135,621) (121,660)
Net current assets (liabilities): 27,756 41,482
Total assets less current liabilities: 32,167 46,420
Total net assets (liabilities): 32,167 46,420
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 31,167 45,420
Shareholders funds: 32,167 46,420

The notes form part of these financial statements

MANCHESTER CHEMIST LTD

Balance sheet statements

For the year ending 28 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 May 2025
and signed on behalf of the board by:

Name: Abdul Khalique
Status: Director

The notes form part of these financial statements

MANCHESTER CHEMIST LTD

Notes to the Financial Statements

for the Period Ended 28 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and machinery - 20% reducing balance

Other accounting policies

Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Operating Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

MANCHESTER CHEMIST LTD

Notes to the Financial Statements

for the Period Ended 28 July 2024

2. Employees

2024 2023
Average number of employees during the period 4 6

MANCHESTER CHEMIST LTD

Notes to the Financial Statements

for the Period Ended 28 July 2024

3. Tangible Assets

Total
Cost £
At 30 July 2023 9,917
Additions 576
At 28 July 2024 10,493
Depreciation
At 30 July 2023 4,979
Charge for year 1,103
At 28 July 2024 6,082
Net book value
At 28 July 2024 4,411
At 29 July 2023 4,938