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REGISTERED NUMBER: 05847168 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Medina Chemist Ltd

Medina Chemist Ltd (Registered number: 05847168)






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


Medina Chemist Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M Asim
M Asif





REGISTERED OFFICE: 85 - 89 Radford Road
Hyson Green
Nottingham
Nottinghamshire
NG7 5DR





REGISTERED NUMBER: 05847168 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Medina Chemist Ltd (Registered number: 05847168)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 285,164 299,592

CURRENT ASSETS
Stocks 100,000 150,000
Debtors 5 2,638,247 2,508,168
Cash at bank and in hand 466,786 165,375
3,205,033 2,823,543
CREDITORS
Amounts falling due within one year 6 (487,050 ) (372,635 )
NET CURRENT ASSETS 2,717,983 2,450,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,003,147

2,750,500

CREDITORS
Amounts falling due after more than one
year

7

(148,307

)

(175,224

)

PROVISIONS FOR LIABILITIES (19,611 ) (21,986 )
NET ASSETS 2,835,229 2,553,290

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,835,129 2,553,190
2,835,229 2,553,290

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.

Medina Chemist Ltd (Registered number: 05847168)

Balance Sheet - continued
31 July 2024


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 27 June 2025 and were signed on its behalf by:





M Asim - Director


Medina Chemist Ltd (Registered number: 05847168)

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

1. STATUTORY INFORMATION

Medina Chemist 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.

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.
Freehold property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, 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.

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.

Medina Chemist Ltd (Registered number: 05847168)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023
and 31 July 2024 227,805 180,508 21,270 1,249 430,832
DEPRECIATION
At 1 August 2023 18,224 98,286 14,181 549 131,240
Charge for year 4,557 8,223 1,417 231 14,428
At 31 July 2024 22,781 106,509 15,598 780 145,668
NET BOOK VALUE
At 31 July 2024 205,024 73,999 5,672 469 285,164
At 31 July 2023 209,581 82,222 7,089 700 299,592

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 417,118 377,380
Other debtors 2,221,129 2,130,788
2,638,247 2,508,168

Other debtors includes prepayments and accrued income of £1,374 (2023: £1,241).

Medina Chemist Ltd (Registered number: 05847168)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 9,426 12,226
Trade creditors 296,081 261,869
Taxation and social security 178,093 92,090
Other creditors 3,450 6,450
487,050 372,635

Other creditors includes accruals and deferred income of £3,450 (2023: £6,450).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 148,307 175,224

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 100,527 119,902

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 157,733 187,450

Loans are secured by way of fixed and floating charges over all assets over the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
M Asim
Balance outstanding at start of year - 4,384
Amounts repaid - (4,384 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan was interest free and repayable on demand.