DURACHEM LTD

DURACHEM LTD

DURACHEM LTD - Company Information

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DURACHEM LTD

Company Registration Number:
06577514 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2018

Period of accounts

Start date: 01 May 2017

End date: 30 April 2018

DURACHEM LTD

Contents of the Financial Statements

for the Period Ended 30 April 2018

Balance sheet
Notes

DURACHEM LTD

Balance sheet

As at 30 April 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 255,288 291,758
Tangible assets: 4 1,110 1,989
Total fixed assets: 256,398 293,747
Current assets
Stocks: 38,619 38,287
Debtors:   136,923 87,722
Cash at bank and in hand: 240,976 249,447
Total current assets: 416,518 375,456
Creditors: amounts falling due within one year:   (149,458) (142,250)
Net current assets (liabilities): 267,060 233,206
Total assets less current liabilities: 523,458 526,953
Creditors: amounts falling due after more than one year: 5 (9,007) (53,480)
Provision for liabilities:   (5)
Total net assets (liabilities): 514,451 473,468
Capital and reserves
Called up share capital: 280,000 280,000
Profit and loss account: 234,451 193,468
Shareholders funds: 514,451 473,468

The notes form part of these financial statements

DURACHEM LTD

Balance sheet statements

For the year ending 30 April 2018 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 21 January 2019
and signed on behalf of the board by:

Name: V R Harania
Status: Director

The notes form part of these financial statements

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Land & buildings Over period of leaseFixtures & fittings 25% Straight Line Method

Intangible fixed assets and amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

2. Employees

2018 2017
Average number of employees during the period 5 5

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

3. Intangible Assets

Total
Cost £
At 01 May 2017 527,273
At 30 April 2018 527,273
Amortisation
At 01 May 2017 235,515
Charge for year 36,470
At 30 April 2018 271,985
Net book value
At 30 April 2018 255,288
At 30 April 2017 291,758

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

4. Tangible Assets

Total
Cost £
At 01 May 2017 57,278
At 30 April 2018 57,278
Depreciation
At 01 May 2017 55,289
Charge for year 879
At 30 April 2018 56,168
Net book value
At 30 April 2018 1,110
At 30 April 2017 1,989

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

5. Creditors: amounts falling due after more than one year note

2018 2017Bank loans 9,007 53,480Bank BorrowingsFinal instalment on Bank loan is due on 1 March 2019. The carrying amount at the year end is £42,662 (2017 : £88,222)Bank loan are secured by a debenture dated 2 March 2009. The company has also given first legal charge over the leasehold property to the bank. Mr V Harania and Mr A Shah have given a guarantee and indemnity for £520,000 in respect of bank loans. There is another guarantee dated 6 Feb 2006 provided by AAH Pharmaceuticals Ltd.There is a debenture dated 19 Mar 2009 between company, AAH Pharmaceuticals Ltd and Barclays Pharmaceuticals Ltd.

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

6. Financial commitments

Operating lease commitments 2018 2017 £ £At 30 April 2018 the company has commitments under non-cancellable operating leases as follows:Operating leases expiring: Within one year 5,375 5,000 Within two to five years 23,375 1,250

DURACHEM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2018

7. Related party transactions

At the end of the year, company owned £165 to the directors. There is no interest charge by the director for the loan to thecompany.