Company Registration No. 06487743 (England and Wales)
Chembio Ltd
Unaudited accounts
for the year ended 31 December 2024
Chembio Ltd
Unaudited accounts
Contents
Chembio Ltd
Company Information
for the year ended 31 December 2024
Directors
Israr Hussain
Nabeet Hussain
Company Number
06487743 (England and Wales)
Registered Office
13 Parkway
Cedars Court
Porters Wood
St. Albans
Hertfordshire
AL3 6PA
England
Accountants
Capital Accounting Solutions
277-279 Bethnal Green Road
London
E2 6AH
Chembio Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
11,916
11,996
Cash at bank and in hand
83,890
75,003
Creditors: amounts falling due within one year
(176,748)
(162,081)
Net current liabilities
(89,718)
(79,785)
Net liabilities
(77,802)
(67,789)
Called up share capital
2
2
Profit and loss account
(77,804)
(67,791)
Shareholders' funds
(77,802)
(67,789)
For the year ending 31 December 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by
Israr Hussain
Director
Company Registration No. 06487743
Chembio Ltd
Notes to the Accounts
for the year ended 31 December 2024
Chembio Ltd is a private company, limited by shares, registered in England and Wales, registration number 06487743. The registered office is 13 Parkway, Cedars Court, Porters Wood, St. Albans, Hertfordshire, AL3 6PA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Chembio Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Total
At 31 December 2024
17,983
At 31 December 2024
11,916
At 31 December 2023
11,996
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).