REGISTERED NUMBER: 04332068 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Healthchem (Battersea) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Paresh Patel

REGISTERED OFFICE:

173 Cleveland Street

London

W1T 6QR

REGISTERED NUMBER:

04332068 (England and Wales)

ACCOUNTANTS:

Shah Dodhia & Co

173 Cleveland Street

London

W1T 6QR

FIXED ASSETS

Tangible assets

5

194,229

171,013

Investments

6

219,509

219,509

Investment properties

7

2,923,100

2,923,100

3,336,838

3,313,622

CURRENT ASSETS

Stocks

60,000

60,000

Debtors

8

2,566,826

2,388,358

Cash at bank

176,243

147,282

2,803,069

2,595,640

CREDITORS

Amounts falling due within one year

9

645,707

639,653

NET CURRENT ASSETS

2,157,362

1,955,987

TOTAL ASSETS LESS CURRENT LIABILITIES

5,494,200

5,269,609

CREDITORS

Amounts falling due after more than one year

10

(1,385,304

)

(1,404,603

)

PROVISIONS FOR LIABILITIES

(177,106

)

(177,106

)

NET ASSETS

3,931,790

3,687,900

CAPITAL AND RESERVES

Called up share capital

50

50

Merger reserve

297,174

297,174

Equity distribution

(218,354

)

(218,354

)

Retained earnings

3,852,920

3,609,030

3,931,790

3,687,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2025 and were signed by:

Paresh Patel - Director

1.	STATUTORY INFORMATION

Healthchem (Battersea) 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.

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 preparing the financial statements

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.

Turnover

The turnover shown in the profit and loss account represents prescription services rendered and counter sales during the year, exclusive of Value Added Tax.

Tangible fixed assets

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

Long leasehold

-

Over the term of lease

Fixtures and fittings

-

25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Land included in long leasehold property is not depreciated.

Investments in subsidiaries

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investment properties

Investment properties are recognised initially at cost. Investment Properties are annually revalued to fair value. Any gains or losses arising from changes in the fair value are recognised in profit and loss in the year that they arise and no depreciation is provided in respect of investment properties.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 March 2024

186,714

91,322

29,750

307,786

Additions

-

-

63,830

63,830

Disposals

-

-

(29,750

)

(29,750

)

At 28 February 2025

186,714

91,322

63,830

341,866

DEPRECIATION

At 1 March 2024

41,806

86,545

8,422

136,773

Charge for year

2,134

1,194

15,958

19,286

Eliminated on disposal

-

-

(8,422

)

(8,422

)

At 28 February 2025

43,940

87,739

15,958

147,637

NET BOOK VALUE

At 28 February 2025

142,774

3,583

47,872

194,229

At 29 February 2024

144,908

4,777

21,328

171,013

The long leasehold property is stated at cost in these financial statements.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2024

and 28 February 2025

219,509

NET BOOK VALUE

At 28 February 2025

219,509

At 29 February 2024

219,509

The company holds 100% of the issued share capital of Healthchem Property Ltd, an investment holding company and incorporated in England and Wales.

7.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

2,923,100

NET BOOK VALUE

At 28 February 2025

2,923,100

At 29 February 2024

2,923,100

The investment properties have been stated at Director's Valuation as at the balance sheet date.

The historical cost of the investment properties as at 28 February 25 was £2,106,912 (2024: £2,106,912).

8.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

123,491

113,937

Amounts owed by related parties

178,329

178,329

Other debtors

86,415

82,295

388,235

374,561

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,578,372

1,425,383

Amounts owed by related undertakings

600,219

588,414

2,178,591

2,013,797

Aggregate amounts

2,566,826

2,388,358

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

69,317

55,696

Trade creditors

246,360

243,194

Taxation and social security

92,341

88,354

Other creditors

237,689

252,409

645,707

639,653

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,385,304

1,404,603

The bank loans are secured by a first legal charge over the long leasehold properties, investment properties and a debenture over the company's assets.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

£

Paresh Patel

Balance outstanding at start of year

(213,652

)

(25

)

Amounts advanced

47,104

117,203

Amounts repaid

(7,888

)

(330,830

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(174,436

)

(213,652

)

12.	RELATED PARTY DISCLOSURES

The company was under the control of the director throughout the current and previous year.

The company has given an interest free loan of £778,549 (2024: £766,743) to a company under common control.

The director confirms that there were no other material related party transactions other than those disclosed in these financial statements.