Alfa Chemists Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04075132 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Alfa Chemists Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S S I Mohamedali

Mr T S Mohamedali

Mrs A Samiwala

SECRETARY:

Mr T S Mohamedali

REGISTERED OFFICE:

139 Melton Road

Leicester

Leicestershire

LE4 6QS

REGISTERED NUMBER:

04075132 (England and Wales)

ACCOUNTANTS:

Xitax Limited

Pera Business Park

Nottingham Road

Melton Mowbray

Leicestershire

LE13 0PB

FIXED ASSETS

Intangible assets

4

41,420

92,715

Tangible assets

5

28,897

42,915

Investments

6

51

51

70,368

135,681

CURRENT ASSETS

Stocks

79,918

97,605

Debtors

732,185

1,196,846

Investments

17,000

10,269

Cash in hand

957

435

830,060

1,305,155

CREDITORS

Amounts falling due within one year

653,774

1,308,563

NET CURRENT ASSETS/(LIABILITIES)

176,286

(3,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

246,654

132,273

CREDITORS

Amounts falling due after more than one year

7

(366,025

)

(401,938

)

PROVISIONS FOR LIABILITIES

(6,558

)

(7,834

)

NET LIABILITIES

(125,929

)

(277,499

)

CAPITAL AND RESERVES

Called up share capital

800

800

Capital redemption reserve

200

200

Retained earnings

(126,929

)

(278,499

)

SHAREHOLDERS' FUNDS

(125,929

)

(277,499

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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 October 2020 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 Board of Directors and authorised for issue on 17 March 2021 and were signed on its behalf by:

Mr T S Mohamedali - Director

1.	STATUTORY INFORMATION

Alfa Chemists 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.	ACCOUNTING POLICIES

Compliance with accounting standards

The financial statements have been prepared in accordance with applicable United Kingdom

accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The

Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS102')

and the Companies Act 2006.

Significant judgements and estimates

No significant judgements have had to be made by the directors in preparing these financial

statements.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Prescription income is received two months in arrears but appropriate accounting adjustments are

made to account for it on an accruals basis. Retail sales are recognised on the basis of daily takings.

Goodwill

Acquired goodwill is written off in equal annual instalments over its useful economic life which the

directors believe is 20 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.

Plant and machinery etc

-

25% on cost and 15% on 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2019 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2019

and 31 October 2020

1,033,297

AMORTISATION

At 1 November 2019

940,582

Amortisation for year

51,295

At 31 October 2020

991,877

NET BOOK VALUE

At 31 October 2020

41,420

At 31 October 2019

92,715

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2019

and 31 October 2020

231,591

DEPRECIATION

At 1 November 2019

188,676

Charge for year

14,018

At 31 October 2020

202,694

NET BOOK VALUE

At 31 October 2020

28,897

At 31 October 2019

42,915

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 November 2019

and 31 October 2020

51

NET BOOK VALUE

At 31 October 2020

51

At 31 October 2019

51

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.10.20

31.10.19

£

£

Repayable by instalments

Finance leases

3,411

8,539

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.10.20

31.10.19

£

£

Gross obligations repayable:

Within one year

6,425

6,425

Between one and five years

25,696

25,696

In more than five years

4,278

10,707

36,399

42,828

Finance charges repayable:

Within one year

1,301

1,301

Between one and five years

5,202

5,202

In more than five years

867

2,168

7,370

8,671

Net obligations repayable:

Within one year

5,124

5,124

Between one and five years

20,494

20,494

In more than five years

3,411

8,539

29,029

34,157

Non-cancellable

operating leases

31.10.20

31.10.19

£

£

Within one year

25,000

25,000

Between one and five years

100,000

100,000

In more than five years

25,000

50,000

150,000

175,000

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

9.	SECURED DEBTS

The bank loans and overdrafts are secured by a fixed charge over certain property, assets and

undertakings of the company.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2020

and 31 October 2019:

31.10.20

31.10.19

£

£

Mr S S I Mohamedali

Balance outstanding at start of year

82,026

(45

)

Amounts advanced

55,340

167,383

Amounts repaid

(111,651

)

(85,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,715

82,026

Mr T S Mohamedali

Balance outstanding at start of year

101,304

20,742

Amounts advanced

57,524

80,562

Amounts repaid

(122,651

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,177

101,304

Mrs A Samiwala

Balance outstanding at start of year

3,395

32,881

Amounts advanced

975

138,704

Amounts repaid

-

(168,190

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,370

3,395

11.	RELATED PARTY DISCLOSURES

Bonham Real Estate Limited (a company in which Mr T Mohamedali and Mrs A Sammiwala are

directors and shareholders) - during the year the company was owed £95,187 (2019: £78,554) by

Bonham Real Estate Limited.

Global Forex & Commodities Ltd (a company in which Mr T Mohamedali and Mrs A Sammiwala are

directors and shareholders) - during the year the company was owed £256,979 (2019: £256,979) by

Global Forex & Commodities Ltd.

TAMS Properties Ltd (a company in which Mr T Mohamedali is a director and shareholder) - during

the year the company was owed £124,327 (2019: £109,000) by TAMS Properties Ltd.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Alfa ACL Limited which is a company registered in England and

Wales and holds 100% of the issued share capital of Alfa Chemists Limited.