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Registered number: 04318925
Lad Chemist Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04318925
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,147 10,704
10,147 10,704
CURRENT ASSETS
Stocks 6 85,000 83,025
Debtors 7 166,484 152,012
Cash at bank and in hand 513,233 370,695
764,717 605,732
Creditors: Amounts Falling Due Within One Year 8 (358,099 ) (318,378 )
NET CURRENT ASSETS (LIABILITIES) 406,618 287,354
TOTAL ASSETS LESS CURRENT LIABILITIES 416,765 298,058
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,537 ) (2,676 )
NET ASSETS 414,228 295,382
CAPITAL AND RESERVES
Called up share capital 9 101 101
Profit and Loss Account 414,127 295,281
SHAREHOLDERS' FUNDS 414,228 295,382
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For the year ending 31 March 2025 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Vijay Lad
Director
31/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lad Chemist Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04318925 . The registered office is 30 Madeley Road, High Acres, Kingswinford, West Midlands, DY6 8PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Acquired goodwill is already fully written off.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 30,000
As at 31 March 2025 30,000
Amortisation
As at 1 April 2024 30,000
As at 31 March 2025 30,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
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5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2024 64,891
Disposals 1,289
As at 31 March 2025 66,180
Depreciation
As at 1 April 2024 54,187
Provided during the period 1,846
As at 31 March 2025 56,033
Net Book Value
As at 31 March 2025 10,147
As at 1 April 2024 10,704
6. Stocks
2025 2024
£ £
Stock 85,000 83,025
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 143,229 131,663
Other debtors 23,255 20,349
166,484 152,012
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 212,795 180,659
Amounts owed to group undertakings 98,954 100,000
Other creditors 8,124 7,948
Taxation and social security 38,226 29,771
358,099 318,378
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9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 100.00 each 100 100
1 Ordinary B shares of £ 1.00 each 1 1
101 101
10. Related Party Transactions
As at the year end the company owed £100,000 (2024: £100,000) to Broadchimneys Ltd. Vijay Lad and Rekha Lad are directors and shareholders of this company
11. Ultimate Controlling Party
The company's ultimate controlling party is Sarexon Limited by virtue of his ownership of 100% of the issued share capital in the company.
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