Silverfin 13 September 2022 09 September 2022 Steven Wakefield Dixon Wilson Audit Services LLP 87,317 45,971 false true 31/12/2021 31/12/2021 01/01/2021 Jennifer Altstadt 01/01/2018 Craig Lundell 01/01/2018 09 September 2022 no description of principal activity 07271115 2021-12-31 07271115 bus:Director1 2021-12-31 07271115 bus:Director2 2021-12-31 07271115 2020-12-31 07271115 core:CurrentFinancialInstruments 2021-12-31 07271115 core:CurrentFinancialInstruments 2020-12-31 07271115 core:ShareCapital 2021-12-31 07271115 core:ShareCapital 2020-12-31 07271115 core:RetainedEarningsAccumulatedLosses 2021-12-31 07271115 core:RetainedEarningsAccumulatedLosses 2020-12-31 07271115 core:ShareCapital 2019-12-31 07271115 core:RetainedEarningsAccumulatedLosses 2019-12-31 07271115 2019-12-31 07271115 core:ImmediateParent core:CurrentFinancialInstruments 2021-12-31 07271115 core:ImmediateParent core:CurrentFinancialInstruments 2020-12-31 07271115 2021-01-01 2021-12-31 07271115 bus:FullAccounts 2021-01-01 2021-12-31 07271115 bus:SmallEntities 2021-01-01 2021-12-31 07271115 bus:Audited 2021-01-01 2021-12-31 07271115 2020-01-01 2020-12-31 07271115 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 07271115 bus:Director1 2021-01-01 2021-12-31 07271115 bus:Director2 2021-01-01 2021-12-31 07271115 core:ShareCapital 2020-01-01 2020-12-31 07271115 core:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 07271115 core:ShareCapital 2021-01-01 2021-12-31 07271115 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 07271115 1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Company No: 07271115 (England and Wales)

SEA-LAND CHEMICAL EUROPE LIMITED

Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

SEA-LAND CHEMICAL EUROPE LIMITED

Financial Statements

For the financial year ended 31 December 2021

Contents

SEA-LAND CHEMICAL EUROPE LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2021
SEA-LAND CHEMICAL EUROPE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2021
DIRECTORS Jennifer Altstadt
Craig Lundell
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 07271115 (England and Wales)
AUDITOR Dixon Wilson Audit Services LLP
22 Chancery Lane
London
WC2A 1LS
SEA-LAND CHEMICAL EUROPE LIMITED

BALANCE SHEET

As at 31 December 2021
SEA-LAND CHEMICAL EUROPE LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 2021 2020
£ £
Current assets
Stocks 247,485 293,117
Debtors 3 290,101 257,784
Cash at bank and in hand 92,526 127,296
630,112 678,197
Creditors
Amounts falling due within one year 4 ( 2,046,170) ( 2,006,938)
Net current liabilities (1,416,058) (1,328,741)
Total assets less current liabilities (1,416,058) (1,328,741)
Net liabilities ( 1,416,058) ( 1,328,741)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 1,416,158 ) ( 1,328,841 )
Total shareholders' deficit ( 1,416,058) ( 1,328,741)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sea-Land Chemical Europe Limited (registered number: 07271115) were approved and authorised for issue by the Board of Directors on 09 September 2022. They were signed on its behalf by:

Jennifer Altstadt
Director
Craig Lundell
Director
SEA-LAND CHEMICAL EUROPE LIMITED

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 December 2021
SEA-LAND CHEMICAL EUROPE LIMITED

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 December 2021
Called-up share capital Profit and loss account Total
£ £ £
At 01 January 2020 100 ( 1,282,870) ( 1,282,770)
Loss for the financial year 0 ( 45,971) ( 45,971)
Total comprehensive loss 0 ( 45,971) ( 45,971)
At 31 December 2020 100 ( 1,328,841) ( 1,328,741)
At 01 January 2021 100 ( 1,328,841) ( 1,328,741)
Loss for the financial year 0 ( 87,317) ( 87,317)
Total comprehensive loss 0 ( 87,317) ( 87,317)
At 31 December 2021 100 ( 1,416,158) ( 1,416,058)
SEA-LAND CHEMICAL EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
SEA-LAND CHEMICAL EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sea-Land Chemical Europe Limited (the Company) is a private company, limited by shares, incorporated in the England and Wales under the Companies Act 2006. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

The company relies on a loan from its parent, Sea-Land Chemical Europe Inc. The directors, having assessed the responses of the directors of Sea-Land Chemical Europe Inc to their enquiries, have no reason to believe that the support of the parent company will be withdrawn or that a material uncertainty exists that may cast significant doubt on the ability of Sea-Land Chemical Europe Limited to continue as a going concern.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Revenue represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers.

Income from the sale of goods is recognised at the point of delivery to the customer.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Debtors

2021 2020
£ £
Trade debtors 284,167 252,085
Other debtors 5,934 5,699
290,101 257,784

4. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 151,105 304,887
Amounts owed to Parent undertakings 1,820,630 1,632,211
Other creditors 31,597 27,160
Other taxation and social security 42,838 42,680
2,046,170 2,006,938

5. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2021 was unqualified.

The audit report was signed by Steven Wakefield on behalf of Dixon Wilson Audit Services LLP.

6. Ultimate controlling party

Parent Company:

Sea-Land Chemical Europe Inc, incorporated in United States of America.
821 Westpoint Parkway
Westlake
OH 44145
United States of America

The ultimate parent undertaking is Sea-Land Chemical Company, incorporated in United States of America. Sea-Land Chemical Company prepares consolidated financial statements which are available on request at the following address:

821 Westpoint Parkway
Westlake
OH 44145
United States of America