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REGISTERED NUMBER: 05533826













MARTIN DAVIES CHEMISTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






MARTIN DAVIES CHEMISTS LIMITED (REGISTERED NUMBER: 05533826)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARTIN DAVIES CHEMISTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: Mrs E T Davies
Mr A M Davies
Mr D A Hicks
Miss E L Shanahan





SECRETARY: Mr A M Davies





REGISTERED OFFICE: 197/199 Caerleon Road
Newport
NP19 7HA





REGISTERED NUMBER: 05533826





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

MARTIN DAVIES CHEMISTS LIMITED (REGISTERED NUMBER: 05533826)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 103,034 103,034
Debtors 6 701,047 781,671
Cash at bank and in hand 732,202 217,915
1,536,283 1,102,620
CREDITORS
Amounts falling due within one year 7 1,001,265 706,557
NET CURRENT ASSETS 535,018 396,063
TOTAL ASSETS LESS CURRENT LIABILITIES 535,018 396,063

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 534,918 395,963
SHAREHOLDERS' FUNDS 535,018 396,063

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th May 2025 and were signed on its behalf by:




Mr D A Hicks - Director



Miss E L Shanahan - Director


MARTIN DAVIES CHEMISTS LIMITED (REGISTERED NUMBER: 05533826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Martin Davies Chemists Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Statement of Income and Retained Earnings, 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 27 (2023 - 22 ) .

MARTIN DAVIES CHEMISTS LIMITED (REGISTERED NUMBER: 05533826)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2023
and 31st August 2024 1,150,000
AMORTISATION
At 1st September 2023
and 31st August 2024 1,150,000
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st September 2023
and 31st August 2024 11,747 65,476 15,525 92,748
DEPRECIATION
At 1st September 2023
and 31st August 2024 11,747 65,476 15,525 92,748
NET BOOK VALUE
At 31st August 2024 - - - -
At 31st August 2023 - - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 592,680 700,460
Other debtors 22,738 7,319
VAT 85,629 73,892
701,047 781,671

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 227,401 178,818
Trade creditors - other 386,917 233,472
Amounts owed to group undertakings 10,328 -
Tax 70,716 44,015
PAYE and NIC taxes 3,754 8,354
Wages control account 6,203 -
Pension control account 473 -
Directors' current accounts 2,545 6,346
Accruals and deferred income 292,928 235,552
1,001,265 706,557

MARTIN DAVIES CHEMISTS LIMITED (REGISTERED NUMBER: 05533826)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1st September 2023 395,963
Profit for the year 255,255
Dividends (116,300 )
At 31st August 2024 534,918