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REGISTERED NUMBER: 01996824 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

Exchanging Limited
Trading as
Ace Pharmacy

Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Exchanging Limited
Trading as Ace Pharmacy

Company Information
for the Year Ended 30th April 2024







DIRECTORS: A R Patel
K N Patel





REGISTERED OFFICE: 1-3 Ace Parade
Hook Road
Hook
Surrey
KT9 1DR





REGISTERED NUMBER: 01996824 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy

Balance Sheet
30th April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,604 17,931

CURRENT ASSETS
Stocks 195,000 80,299
Debtors 5 811,416 393,615
Cash at bank and in hand 79,999 390,389
1,086,415 864,303
CREDITORS
Amounts falling due within one year 6 (517,943 ) (285,922 )
NET CURRENT ASSETS 568,472 578,381
TOTAL ASSETS LESS CURRENT LIABILITIES 583,076 596,312

CREDITORS
Amounts falling due after more than one
year

7

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (678 ) (1,206 )
NET ASSETS 570,731 573,439

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 570,631 573,339
570,731 573,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy

Balance Sheet - continued
30th April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th July 2025 and were signed on its behalf by:





K N Patel - Director


Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Exchanging Limited 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 Income Statement, 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.

Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and and Motor
Buildings fittings vehicles Totals
£    £    £    £   
COST
At 1st May 2023
and 30th April 2024 44,217 177,521 13,945 235,683
DEPRECIATION
At 1st May 2023 44,217 165,963 7,572 217,752
Charge for year - 1,734 1,593 3,327
At 30th April 2024 44,217 167,697 9,165 221,079
NET BOOK VALUE
At 30th April 2024 - 9,824 4,780 14,604
At 30th April 2023 - 11,558 6,373 17,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 143,883 96,473
Amounts owed by group undertakings 588,335 216,377
Other debtors 59,540 71,276
VAT 15,780 -
Prepayments and accrued income 3,878 9,489
811,416 393,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 213,213 229,715
Tax 9,276 38,870
Social security and other taxes 2,356 1,380
Other creditors 1,863 233
Net wage control 11,645 -
Directors' current accounts 264,090 -
Accrued expenses 5,500 5,724
517,943 285,922

Exchanging Limited (Registered number: 01996824)
Trading as Ace Pharmacy

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 11,667 21,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,667 21,667

8. RELATED PARTY DISCLOSURES

.