A F ChemPharm Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03524039

A F CHEMPHARM LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

A F CHEMPHARM LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

A F CHEMPHARM LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Intangible assets	7	4,114	4,114
Tangible assets	8	390,672	412,640
		----------	----------
		394,786	416,754

CURRENT ASSETS

Debtors	9	169,502	79,615
Cash at bank and in hand		7,089	4,488
		----------	---------
		176,591	84,103

CREDITORS: amounts falling due within one year	10	103,063		79,516
		----------		---------
NET CURRENT ASSETS			73,528		4,587
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			468,314		421,341

CREDITORS: amounts falling due after more than one year	11		249,234		214,043

PROVISIONS

Taxation including deferred tax	12	1,240	3,560
		----------	----------
NET ASSETS		217,840	203,738
		----------	----------

A F CHEMPHARM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	14	2	2
Profit and loss account		217,838	203,736
		----------	----------
SHAREHOLDERS FUNDS		217,840	203,738
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Dr R Quyoum

Director

Company registration number: 03524039

A F CHEMPHARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Bailey House, Bailey Street, Sheffield, South Yorkshire, S1 4EH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Plant & Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants receivable relating to Covid-19 are accounted for under the accrual method and recognised immediately as income in the Statement of Income and Retained Earnings. Where applied for and received these grants include payments under the Coronavirus Job Retention Scheme (furlough payments), Small Business Grant and interest paid by the Government during the first 12 months of Bounce Bank Loans. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 5 (2024: 6 ).

5. TAX ON PROFIT

Major components of tax income

	2025	2024
	£	£

Current tax:

UK current tax income	( 11,836)	( 14,964)
Adjustments in respect of prior periods	2,085	( 553)
	---------	---------
Total current tax	( 9,751)	( 15,517)
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 2,320)	( 2,075)
	---------	---------
Tax on profit	( 12,071)	( 17,592)
	---------	---------

6. DIVIDENDS

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	1,000	2,000
	-------	-------

7. INTANGIBLE ASSETS

	Patents, trademarks and licences
	£
Cost
At 1 April 2024 and 31 March 2025	4,114
	-------
Amortisation
At 1 April 2024 and 31 March 2025	–
	-------
Carrying amount
At 31 March 2025	4,114
	-------
At 31 March 2024	4,114
	-------

8. TANGIBLE ASSETS

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 April 2024	393,127	388,903	782,030
Additions	–	2,115	2,115
	----------	----------	----------
At 31 March 2025	393,127	391,018	784,145
	----------	----------	----------
Depreciation
At 1 April 2024	86,493	282,897	369,390
Charge for the year	7,863	16,220	24,083
	----------	----------	----------
At 31 March 2025	94,356	299,117	393,473
	----------	----------	----------
Carrying amount
At 31 March 2025	298,771	91,901	390,672
	----------	----------	----------
At 31 March 2024	306,634	106,006	412,640
	----------	----------	----------

9. DEBTORS

	2025	2024
	£	£
Trade debtors	143,325	45,100
Corporation tax repayable	24,663	34,515
Other debtors	1,514	–
	----------	---------
	169,502	79,615
	----------	---------

10. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	60,410	31,938
Accruals and deferred income	3,042	1,611
Social security and other taxes	3,135	16,511
Director loan accounts	31,652	19,335
Other creditors	4,824	10,121
	----------	---------
	103,063	79,516
	----------	---------

The following liabilities disclosed under creditors falling within one year are secured by the company :

	2025	2024
	£	£
Bank loans and overdrafts	38,344	22,772
	---------	---------

11. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	249,234	214,043
	----------	----------

The following liabilities disclosed under creditors falling after more than one year are secured by the company:

	2025	2024
	£	£
Bank loans	169,358	186,179
	----------	----------

12. PROVISIONS

	Deferred tax (note 13)
	£
At 1 April 2024	3,560
Charge against provision	( 2,320)
	-------
At 31 March 2025	1,240
	-------

13. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 12)	1,240	3,560
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,240	3,560
	-------	-------

14. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.