Alchemy Strategic Industries Limited

ALCHEMY STRATEGIC INDUSTRIES LIMITED - Company Information

2021-06-012022-05-312022-05-31false08061997Alchemy Strategic Industries 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Registered Number
08061997
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2022

Alchemy Strategic Industries Limited

Company Information
for the year from 1 June 2021 to 31 May 2022


Directors	QAYYUM, Muhammad Moez-Ullah Burhan
	QAYYUM, Safoora Jabeen


Registered Address	2nd Floor Grove House
	55 Lowlands Road
	Harrow
	HA1 3AW


Registered Number	08061997 (England and Wales)

Alchemy Strategic Industries Limited

Balance Sheet as at
31 May 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	6		784		829
			784		829
Current assets
Debtors	8	290		100
Cash at bank and on hand		106,707		79,160
		106,997		79,260
Creditors amounts falling due within one year	9	(118,560)		(84,154)
Net current assets (liabilities)			(11,563)		(4,894)
Total assets less current liabilities			(10,779)		(4,065)
Net assets			(10,779)		(4,065)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(10,879)		(4,165)
Shareholders' funds			(10,779)		(4,065)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 28 February 2023, and are signed on its behalf by:

QAYYUM, Muhammad Moez-Ullah Burhan
Director
Registered Company No. 08061997

Alchemy Strategic Industries Limited

Notes to the Financial Statements
for the year ended 31 May 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Office Equipment	25

	Valuation of financial instruments policy
	Valuation of financial instruments policy The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Valuation of financial instruments policy

Valuation of financial instruments policy
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and
Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as
payable within one year are not amortised.

5.	Employee information


		2022		2021
	Average number of employees during the year	2		2

6.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 June 21	1,997	1,997
Additions	190	190
At 31 May 22	2,187	2,187
Depreciation and impairment
At 01 June 21	1,168	1,168
Charge for year	235	235
At 31 May 22	1,403	1,403
Net book value
At 31 May 22	784	784
At 31 May 21	829	829

7.	Directors advances, credits and guarantees
	The director's current account credit balance of £109,471 (2021: £77,275) relates to director Mr M Qayyum.

8.	Debtors

	2022	2021
	£	£
Prepayments and accrued income	290	100
Total	290	100

9.	Creditors within one year

	2022	2021
	£	£
Taxation and social security	7,049	4,839
Other creditors	109,471	77,275
Accrued liabilities and deferred income	2,040	2,040
Total	118,560	84,154