REGISTERED NUMBER: 10244301 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

Asims Chemist Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Asim

REGISTERED OFFICE:

40 Eton Road

West Bridgford

Nottingham

Nottinghamshire

NG2 7AR

REGISTERED NUMBER:

10244301 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

10,000

20,000

Tangible assets

5

230,966

238,823

240,966

258,823

CURRENT ASSETS

Stocks

75,000

100,000

Debtors

6

906,542

782,365

Cash at bank and in hand

16,480

33,162

998,022

915,527

CREDITORS

Amounts falling due within one year

7

(1,036,853

)

(949,480

)

NET CURRENT LIABILITIES

(38,831

)

(33,953

)

TOTAL ASSETS LESS CURRENT LIABILITIES

202,135

224,870

CREDITORS

Amounts falling due after more than one year

8

(122,088

)

(132,165

)

PROVISIONS FOR LIABILITIES

-

(764

)

NET ASSETS

80,047

91,941

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

79,947

91,841

80,047

91,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 July 2026 and were signed by:

M Asim - Director

1.	STATUTORY INFORMATION

Asims Chemist Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

100,000

AMORTISATION

At 1 August 2024

80,000

Amortisation for year

10,000

At 31 July 2025

90,000

NET BOOK VALUE

At 31 July 2025

10,000

At 31 July 2024

20,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 August 2024

and 31 July 2025

252,919

13,967

47,442

314,328

DEPRECIATION

At 1 August 2024

25,292

12,081

38,132

75,505

Charge for year

5,058

471

2,328

7,857

At 31 July 2025

30,350

12,552

40,460

83,362

NET BOOK VALUE

At 31 July 2025

222,569

1,415

6,982

230,966

At 31 July 2024

227,627

1,886

9,310

238,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

130,658

123,109

Other debtors

775,884

659,256

906,542

782,365

Other debtors includes prepayments and accrued income of £553 (2024: £527).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans and overdrafts

31,054

26,417

Hire purchase contracts

1,292

2,358

Trade creditors

60,622

129,069

Taxation and social security

11,067

12,192

Other creditors

932,818

779,444

1,036,853

949,480

Other creditors includes accruals and deferred income of £30,074 (2024: £8,000).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans

122,088

130,873

Hire purchase contracts

-

1,292

122,088

132,165

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

77,287

90,128

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

£

Bank loans

130,873

138,863

Hire purchase contracts

1,292

3,650

132,165

142,513

Security is given in the form of both fixed and floating charges over any and all fixed assets of the company.

Hire purchase creditors are secured against the assets being so acquired.