REGISTERED NUMBER: 02281687 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

NORLINGTON CHEMIST LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P P Ihenagwa

REGISTERED OFFICE:

3 Broadway Market

Hackney

London

E8 4PH

REGISTERED NUMBER:

02281687 (England and Wales)

ACCOUNTANTS:

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,131

17,949

15,131

17,949

CURRENT ASSETS

Stocks

64,500

68,320

Debtors

1,307,846

1,256,390

Cash at bank and in hand

159

159

1,372,505

1,324,869

CREDITORS

Amounts falling due within one year

86,474

72,250

NET CURRENT ASSETS

1,286,031

1,252,619

TOTAL ASSETS LESS CURRENT LIABILITIES

1,301,162

1,270,568

CREDITORS

Amounts falling due after more than one year

6

17,712

23,400

NET ASSETS

1,283,450

1,247,168

CAPITAL AND RESERVES

Called up share capital

700

700

Retained earnings

1,282,750

1,246,468

SHAREHOLDERS' FUNDS

1,283,450

1,247,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2026 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 27 August 2026 and were signed by:

Mr P P Ihenagwa - Director

1.	STATUTORY INFORMATION

Norlington Chemist Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 comprises the value of goods and services supplied by the company, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2025

and 31 May 2026

27,000

AMORTISATION

At 1 June 2025

and 31 May 2026

27,000

NET BOOK VALUE

At 31 May 2026

-

At 31 May 2025

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2025

and 31 May 2026

107,179

DEPRECIATION

At 1 June 2025

89,230

Charge for year

2,818

At 31 May 2026

92,048

NET BOOK VALUE

At 31 May 2026

15,131

At 31 May 2025

17,949

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Totals

£

COST

At 1 June 2025

and 31 May 2026

82,000

DEPRECIATION

At 1 June 2025

66,360

Charge for year

2,346

At 31 May 2026

68,706

NET BOOK VALUE

At 31 May 2026

13,294

At 31 May 2025

15,640

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2026

2025

£

£

Repayable by instalments

Bank loans

-

3,400

7.	RELATED PARTY DISCLOSURES

As at the balance sheet date, the company was owed £1,249,937 (2025: £1,201,533) by Norlington Property Management Limited, a fellow group company.

At the balance sheet date, the company owed £3,367 to the directors.