Medichem (Wibsey) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07577752

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		600,000		600,000
Tangible Assets	5		127,985		114,914

			727,985		714,914
CURRENT ASSETS
Stocks	6	38,967		37,854
Debtors	7	227,615		126,698
Cash at bank and in hand		99,946		63,741

		366,528		228,293
Creditors: Amounts Falling Due Within One Year	8	(1,258,766 )		(888,310 )

NET CURRENT ASSETS (LIABILITIES)			(892,238 )		(660,017 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(164,253 )		54,897

NET (LIABILITIES)/ASSETS			(164,253 )		54,897

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(164,353 )		54,797

SHAREHOLDERS' FUNDS			(164,253)		54,897

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Medichem (Wibsey) Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 Wajaat Ahmed

Director

12/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Medichem (Wibsey) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07577752 . The registered office is Wibsey Medical Centre, Medichem Pharmacy, Fair Road, Bradford, West Yorkshire, BD6 1TD.

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

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

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:

Plant & Machinery	25%
Motor Vehicles	25%
Fixtures & Fittings	25%
Computer Equipment	25%

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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Medichem (Wibsey) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 10)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2024	600,000

As at 31 January 2025	600,000

Net Book Value
As at 31 January 2025	600,000

As at 1 February 2024	600,000

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2024	158,400	5,000	4,537	25,064	193,001
Additions	-	-	-	55,269	55,269

As at 31 January 2025	158,400	5,000	4,537	80,333	248,270

Depreciation
As at 1 February 2024	57,420	2,891	1,947	15,829	78,087
Provided during the period	25,245	527	647	15,779	42,198

As at 31 January 2025	82,665	3,418	2,594	31,608	120,285

Net Book Value
As at 31 January 2025	75,735	1,582	1,943	48,725	127,985

As at 1 February 2024	100,980	2,109	2,590	9,235	114,914

6. Stocks

	2025	2024
	£	£
Stock	38,967	37,854

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Medichem (Wibsey) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	632	67,815
Other debtors	226,983	58,883

	227,615	126,698

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	207,861	228,583
Bank loans and overdrafts	21,667	31,667
Other creditors	1,028,975	627,797
Taxation and social security	263	263

	1,258,766	888,310

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans to directors:

	As at 1 February 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 January 2025
	£	£	£	£	£
Mr Wajaat Ahmed	-	-	-	-	853,890

The above loan is unsecured, interest free and repayable on demand.

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