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Registered number: 01875406
IB-CHEM LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2026
Shah & Co (Accountants) Ltd
Chartered Certified Accountants
1st Floor Cashs Business Centre
228 Widdrington Road
Coventry
West Midlands
CV1 4PB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01875406
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,914 31,381
37,914 31,381
CURRENT ASSETS
Stocks 5 106,385 103,026
Debtors 6 347,098 311,654
Cash at bank and in hand 35,125 67,411
488,608 482,091
Creditors: Amounts Falling Due Within One Year 7 (238,266 ) (235,357 )
NET CURRENT ASSETS (LIABILITIES) 250,342 246,734
TOTAL ASSETS LESS CURRENT LIABILITIES 288,256 278,115
Creditors: Amounts Falling Due After More Than One Year 8 - (3,069 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (4,237 ) (4,237 )
NET ASSETS 284,019 270,809
CAPITAL AND RESERVES
Called up share capital 13 100 100
Profit and Loss Account 283,919 270,709
SHAREHOLDERS' FUNDS 284,019 270,809
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For the year ending 31 March 2026 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 Kaushal Kyada
Director
26/06/2026
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IB-CHEM LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 01875406 . The registered office is Cash'S Business Centre 1st Floor, 228 Widdrington Road, Coventry, West Midlands, CV1 4PB.
The presentation currency of the financial statements is the Pound Sterling (£).
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. 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:
Property improvements 2% on cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 20% on reducing balance
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2025: 15)
14 15
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4. Tangible Assets
Land & Property
Property improvements Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2025 9,725 35,734 12,883 100,184
Additions - - - 675
As at 31 March 2026 9,725 35,734 12,883 100,859
Depreciation
As at 1 April 2025 1,564 26,106 8,204 96,885
Provided during the period 194 1,443 1,170 595
As at 31 March 2026 1,758 27,549 9,374 97,480
Net Book Value
As at 31 March 2026 7,967 8,185 3,509 3,379
As at 1 April 2025 8,161 9,628 4,679 3,299
Computer Equipment Total
£ £
Cost
As at 1 April 2025 92,355 250,881
Additions 12,980 13,655
As at 31 March 2026 105,335 264,536
Depreciation
As at 1 April 2025 86,741 219,500
Provided during the period 3,720 7,122
As at 31 March 2026 90,461 226,622
Net Book Value
As at 31 March 2026 14,874 37,914
As at 1 April 2025 5,614 31,381
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2026 2025
£ £
Computer Equipment 5,975 -
5. Stocks
2026 2025
£ £
Stock 106,385 103,026
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 9,962 14,077
Other debtors 337,136 297,577
347,098 311,654
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 5,353 -
Trade creditors 165,518 198,621
Bank loans and overdrafts 2,639 10,000
Other creditors 25,499 10,210
Taxation and social security 39,257 16,526
238,266 235,357
8. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Bank loans - 3,069
9. Secured Creditors
Of the creditors the following amounts are secured.
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 5,353 -
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10. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,353 -
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2026 2025
£ £
Other timing differences 4,237 4,237
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2025 4,237 4,237
Balance at 31 March 2026 4,237 4,237
13. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
14. Directors Advances, Credits and Guarantees
Included within the other creditors, the amount owed to the directors is £ 20,045 (2024: £ 45). The loans are interest free and with no fixed date of repayment.
15. Related Party Transactions
The company occupies premises which is leased from the AniChem Ltd Family Pension Trust, a pension fund in which Mr RJ Shah and Mr BC Mistry (former directors & shareholders) are both trustees and beneficiaries. Rent paid by the company for the year amounted to £25,531 (2024: £25,286). At the balance sheet date no monies were outstanding.
16. Ultimate Controlling Party
The company's ultimate controlling party is Mr KB Kyada by virtue of his majority shareholding in the parent company, Ib-Chem (Holdings) Limited.
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