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A.B. CHEMISTS LTD

Registered Number
03792193
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

A.B. CHEMISTS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

Mr B Ampomah

Company Secretary

AMPOMAH, Claire

Registered Address

The Clock Pharmacy 1 Gayton Road
Gaywood
King's Lynn
PE30 4EA

Registered Number

03792193 (England and Wales)
A.B. CHEMISTS LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets436,99147,841
36,99147,841
Current assets
Stocks5187,627185,442
Debtors61,290,1821,069,726
Cash at bank and on hand377,334477,569
1,855,1431,732,737
Creditors amounts falling due within one year7(904,962)(864,589)
Net current assets (liabilities)950,181868,148
Total assets less current liabilities987,172915,989
Creditors amounts falling due after one year8(12,283)(22,183)
Provisions for liabilities9(1,871)(1,871)
Net assets973,018891,935
Capital and reserves
Called up share capital22
Profit and loss account973,016891,933
Shareholders' funds973,018891,935
The financial statements were approved and authorised for issue by the Director on 27 August 2025, and are signed on its behalf by:
Mr B Ampomah
Director
Registered Company No. 03792193
A.B. CHEMISTS LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
A.B. Chemists 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.
Statement of compliance
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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
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 and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings20
Vehicles25
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year2930
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 231,070,0001,070,000
At 30 November 241,070,0001,070,000
Amortisation and impairment
At 01 December 231,070,0001,070,000
At 30 November 241,070,0001,070,000
Net book value
At 30 November 24--
At 30 November 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 2378,42077,28449,13712,125216,966
Additions---1,1251,125
At 30 November 2478,42077,28449,13713,250218,091
Depreciation and impairment
At 01 December 2377,40434,62146,14710,953169,125
Charge for year25410,66659845711,975
At 30 November 2477,65845,28746,74511,410181,100
Net book value
At 30 November 2476231,9972,3921,84036,991
At 30 November 231,01642,6632,9901,17247,841
5.Stocks

2024

2023

££
Finished goods187,627185,442
Total187,627185,442
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables582,576561,274
Amounts owed by group undertakings400,434196,505
Other debtors307,172311,947
Total1,290,1821,069,726
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables483,521550,825
Bank borrowings and overdrafts11,86210,000
Taxation and social security58,99040,562
Other creditors350,589263,202
Total904,962864,589
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts12,28322,183
Total12,28322,183
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,8711,871
Total1,8711,871
10.Related party transactions
At the yearend, Benamp Holdings Ltd, Bampnigwe Holding Company Ltd, Clamp Investment Co Ltd, Bencas Chemist Ltd, Alan Stockley & Company Ltd, Spixworth Pharmacy Ltd and East Harling Chemist Ltd owed £145,425 (2023: £6,009), £79,888 (2023: £79,888), £155,211 (2023: £154,004), £86,380 (2023: £86,380), £99,798 (2023: £34,608), £76,300 (2023: £76,000) and £1,890 (2023: £20,000) respectively to A.B. Chemist Ltd. The companies are related as Mr. Benjamin Ampomah is also a director in these companies.