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REGISTERED NUMBER: 10245727 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Medina Chemist Netherfield Ltd

Medina Chemist Netherfield Ltd (Registered number: 10245727)






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 Netherfield Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M Asim
M A Sheikh





REGISTERED OFFICE: 40 Eton Road
West Bridgford
Nottingham
Nottinghamshire
NG2 7AR





REGISTERED NUMBER: 10245727 (England and Wales)





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

Medina Chemist Netherfield Ltd (Registered number: 10245727)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 242,881 258,653

CURRENT ASSETS
Stocks 100,000 150,000
Debtors 5 1,902,788 1,669,603
Cash at bank and in hand 74,215 116,392
2,077,003 1,935,995
CREDITORS
Amounts falling due within one year 6 (968,399 ) (988,426 )
NET CURRENT ASSETS 1,108,604 947,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,351,485

1,206,222

CREDITORS
Amounts falling due after more than one
year

7

(171,246

)

(177,914

)

PROVISIONS FOR LIABILITIES (8,338 ) (11,117 )
NET ASSETS 1,171,901 1,017,191

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,171,801 1,017,091
1,171,901 1,017,191

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 Netherfield Ltd (Registered number: 10245727)

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 Netherfield Ltd (Registered number: 10245727)

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

1. STATUTORY INFORMATION

Medina Chemist Netherfield 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 - 25% on reducing balance
Computer equipment - 25% 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.

Medina Chemist Netherfield Ltd (Registered number: 10245727)

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.

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 19 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 232,811 73,968 1,537 308,316
DEPRECIATION
At 1 August 2023 18,625 29,843 1,195 49,663
Charge for year 4,656 11,031 85 15,772
At 31 July 2024 23,281 40,874 1,280 65,435
NET BOOK VALUE
At 31 July 2024 209,530 33,094 257 242,881
At 31 July 2023 214,186 44,125 342 258,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 417,189 575,870
Other debtors 1,485,599 1,093,733
1,902,788 1,669,603

Other debtors includes prepayments and accrued income of £906 (2023: £738).

Medina Chemist Netherfield Ltd (Registered number: 10245727)

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 11,320 13,016
Trade creditors 396,649 486,478
Taxation and social security 71,500 20,981
Other creditors 488,930 467,951
968,399 988,426

Other creditors includes accruals and deferred income of £3,450 (2023: £3,300).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 171,246 177,914

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 114,195 120,148

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 182,566 190,930

The bank loans are secured against the freehold property.