Alfa Chemists Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04075132 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2022

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

6,332

7,003

Tangible assets

5

4,048

15,510

Investments

6

17,051

17,051

27,431

39,564

CURRENT ASSETS

Stocks

120,175

98,754

Debtors

977,087

1,277,830

Cash at bank and in hand

463,111

88,529

1,560,373

1,465,113

CREDITORS

Amounts falling due within one year

1,358,619

1,119,511

NET CURRENT ASSETS

201,754

345,602

TOTAL ASSETS LESS CURRENT LIABILITIES

229,185

385,166

CREDITORS

Amounts falling due after more than one year

(175,122

)

(321,906

)

PROVISIONS FOR LIABILITIES

(767

)

(2,748

)

NET ASSETS

53,296

60,512

CAPITAL AND RESERVES

Called up share capital

800

800

Capital redemption reserve

200

200

Retained earnings

52,296

59,512

SHAREHOLDERS' FUNDS

53,296

60,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 2022 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 24 July 2023 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.

Cryptocurrencies held by the company are considered as having an indefinite life and as such are not amortised but tested annually for impairment.

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 28 (2021 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2021

and 31 October 2022

1,037,514

AMORTISATION

At 1 November 2021

1,030,511

Amortisation for year

671

At 31 October 2022

1,031,182

NET BOOK VALUE

At 31 October 2022

6,332

At 31 October 2021

7,003

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2021

231,591

Additions

2,074

At 31 October 2022

233,665

DEPRECIATION

At 1 November 2021

216,081

Charge for year

13,536

At 31 October 2022

229,617

NET BOOK VALUE

At 31 October 2022

4,048

At 31 October 2021

15,510

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 November 2021

and 31 October 2022

51

NET BOOK VALUE

At 31 October 2022

51

At 31 October 2021

51

Investments (neither listed nor unlisted) were as follows:

31.10.22

31.10.21

£

£

Other investments

17,000

17,000

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.10.22

31.10.21

£

£

Gross obligations repayable:

Within one year

6,425

6,425

Between one and five years

17,130

24,081

23,555

30,506

Finance charges repayable:

Within one year

1,301

1,301

Between one and five years

3,468

4,769

4,769

6,070

Net obligations repayable:

Within one year

5,124

5,124

Between one and five years

13,662

19,312

18,786

24,436

Non-cancellable

operating leases

31.10.22

31.10.21

£

£

Within one year

31,774

28,459

Between one and five years

78,629

104,717

110,403

133,176

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

8.	SECURED DEBTS

The bank loans and overdrafts are secured by a fixed charge over certain property, assets and undertakings of the company.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2022 and 31 October 2021:

31.10.22

31.10.21

£

£

Mr S S I Mohamedali

Balance outstanding at start of year

65,475

25,715

Amounts advanced

35,714

86,799

Amounts repaid

(101,189

)

(47,039

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

65,475

Mr T S Mohamedali

Balance outstanding at start of year

245,777

36,177

Amounts advanced

130,010

261,786

Amounts repaid

(276,493

)

(52,186

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

99,294

245,777

Mrs A Samiwala

Balance outstanding at start of year

3,925

4,370

Amounts advanced

4,837

74,555

Amounts repaid

(8,762

)

(75,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,925

10.	RELATED PARTY DISCLOSURES

Bonham Real Estate Ltd (a company in which Mr T Mohamedali and Mrs A Sammiwala are directors and shareholders) - during the year the company was owed £452,274 (2021: £195,295) by Bonham Real Estate Ltd.

TAMS Properties Ltd (a company in which Mr T Mohamedali is a director and shareholder) - during the year the company was owed £72,063 (2021: £71,786) by TAMS Properties Ltd.

11.	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.