REGISTERED NUMBER: 04758750 (England and Wales)

ABEL CHEMIST LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr N D Patel

REGISTERED OFFICE:

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

REGISTERED NUMBER:

04758750 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

3

12,500

12,500

Investment property

4

431,970

431,970

444,470

444,470

CURRENT ASSETS

Debtors

5

92,671

92,671

Cash at bank and in hand

166,449

174,066

259,120

266,737

CREDITORS

Amounts falling due within one year

6

102,723

107,845

NET CURRENT ASSETS

156,397

158,892

TOTAL ASSETS LESS CURRENT LIABILITIES

600,867

603,362

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

600,767

603,262

SHAREHOLDERS' FUNDS

600,867

603,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 February 2018 and were signed by:

Mr N D Patel - Director

1.	STATUTORY INFORMATION

Abel Chemist 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	TANGIBLE FIXED ASSETS

Improvements

to

property

£

COST

At 1 June 2016

and 31 May 2017

12,500

NET BOOK VALUE

At 31 May 2017

12,500

At 31 May 2016

12,500

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2016

and 31 May 2017

431,970

NET BOOK VALUE

At 31 May 2017

431,970

At 31 May 2016

431,970

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

VAT

92,671

92,671

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Tax

620

70

Directors' current accounts

98,515

104,185

Accrued expenses

3,588

3,590

102,723

107,845

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 June 2016

603,262

Profit for the year

2,505

Dividends

(5,000

)

At 31 May 2017

600,767

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N D Patel.