| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| FOR |
| RJR CHEM LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| FOR |
| RJR CHEM LTD |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RJR CHEM LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2 Cedargrove |
| Hagley |
| Stourbridge |
| West Midlands |
| DY9 0DR |
| BANKERS: |
| 3 Queen Square |
| Wolverhampton |
| West Midlands |
| WV1 1RF |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| BALANCE SHEET |
| 28 FEBRUARY 2026 |
| 2026 | 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 14 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 15 |
| Retained earnings | 16 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 1. | STATUTORY INFORMATION |
| RJR Chem Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Fixtures, fittings & equipment | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, 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 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. |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 March 2025 |
| Disposals | ( |
) |
| At 28 February 2026 |
| AMORTISATION |
| At 1 March 2025 |
| Amortisation for year |
| Eliminated on disposal | ( |
) |
| At 28 February 2026 |
| NET BOOK VALUE |
| At 28 February 2026 |
| At 28 February 2025 |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings | Motor |
| & equipment | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 28 February 2026 |
| DEPRECIATION |
| At 1 March 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 28 February 2026 |
| NET BOOK VALUE |
| At 28 February 2026 |
| At 28 February 2025 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures, |
| fittings |
| & equipment |
| £ |
| COST |
| At 1 March 2025 |
| Transfer to ownership | (190,290 | ) |
| At 28 February 2026 |
| DEPRECIATION |
| At 1 March 2025 |
| Transfer to ownership | (118,842 | ) |
| At 28 February 2026 |
| NET BOOK VALUE |
| At 28 February 2026 |
| At 28 February 2025 |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 March 2025 |
| Additions |
| Disposals | ( |
) |
| At 28 February 2026 |
| NET BOOK VALUE |
| At 28 February 2026 |
| At 28 February 2025 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: 20 Coningsby Drive, Wolverhampton, West Midlands, WV2 2RN |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Registered office: 20 Coningsby Drive, Wolverhampton, West Midlands, WV2 2RN |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2026 |
| £ | £ |
| Aggregate capital and reserves |
| 7. | STOCKS |
| 2026 | 2025 |
| £ | £ |
| Stocks |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Hire purchase contracts (see note 12) |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 25,335 | - |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans (see note 11) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 2,227,411 | 2,978,071 |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 11. | LOANS - continued |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 2,227,411 | 2,978,071 |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2026 | 2025 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable |
| operating leases |
| 2026 | 2025 |
| £ | £ |
| In more than five years |
| 13. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| 14. | PROVISIONS FOR LIABILITIES |
| 2026 | 2025 |
| £ | £ |
| Deferred tax | 39,616 | 50,072 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2025 |
| Credited during the year | (10,456 | ) |
| Balance at 28 February 2026 |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 15. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2026 | 2025 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 3 |
| Ordinary B | £1 | 1 | - |
| 3 | 3 |
| On 2 February 2026, one ordinary share of £1 each was reclassified to a ordinary B share to facilitate a demerger of Rakson Healthcare Limited. See note 24. |
| 16. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 March 2025 |
| Profit for the year |
| Dividends | ( |
) |
| At 28 February 2026 |
| 17. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At 28 February 2026, there was a loan from Mr J S Rahania of £12,519 (2025: £Nil). This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026, there was a loan from Mr R Rahania of £12,816 (2025: £Nil). This unsecured loan is interest free and repayable on demand. |
| RJR CHEM LTD (REGISTERED NUMBER: 09419483) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2026 |
| 18. | RELATED PARTY DISCLOSURES |
| At 28 February 2026 there was a loan due to Church Street Healthcare Limited of £484,104 (2025: £1,000,734), a company in which Mr J Rahania and Mr R Rahania are directors. The company is the parent undertaking of Church Street Healthcare Limited. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due to Nightchem Group Limited of £15,581 (2025: £Nil), a company in which Mr J Rahania and Mr R Rahania are directors. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due to Daychem Group Limited of £54,212 (2025: £Nil), a company in which Mr J Rahania and Mr R Rahania are directors. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due to Wellington Pharmacy Limited of £1,103,870 (2025: £1,093,212), a company in which Mr J Rahania and Mr R Rahania are directors. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due to Daychem Ltd of £529,204 (2025: £680,834), a company in which Mr J Rahania and Mr R Rahania are directors. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due from Nightchem Limited of £169,502 (2025: £170,411), a company in which Mr J Rahania and Mr R Rahania are directors. This unsecured loan is interest free and repayable on demand. |
| At 28 February 2026 there was a loan due from Investment House Limited of £100,000 (2025: £100,000), a company in which Mr R Rahania is a director. This unsecured loan is interest free and repayable on demand. |
| 19. | COMPANY REORGANISATION |
| On 2 February 2026, the company hived down the fair value of its goodwill, fixtures, fittings and equipment and stock in hand of Dudley Road Pharmacy equivalent to a value of £1,000,481 to its subsidiary undertaking, Rakson Healthcare Limited. In exchange for these assets, the company received 365,944 new ordinary shares in Rakson Healthcare Limited and the balance in cash consideration. |
| On the same day, to facilitate a demerger of Rakson Healthcare Limited one ordinary share held by Mr R K Saroy was reclassified to a ordinary B share providing the rights over Rakson Healthcare Limited only. The other shareholders retained the rights over the remaining assets in RJR Chem Ltd. This share reclassification was followed by the company declaring a dividend in specie of £366,044, equivalent to the net book value of Rakson Healthcare Limited to the ordinary B shareholder. In consideration of this dividend, Rakson Healthcare Limited was transferred to Mr R K Saroy. |
| Subsequently, the ordinary B share was cancelled on 6 March 2026. |