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REGISTERED NUMBER: 04589190 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Yorchem Ltd

Yorchem Ltd (Registered number: 04589190)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yorchem Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Strafford
M Wicks
T Russell
A Parsons





REGISTERED OFFICE: 1 Sowerby Way
Durham Lane Industrial Estate
Eaglescliffe
STOCKTON ON TEES
Cleveland
TS16 0RD





REGISTERED NUMBER: 04589190 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Yorchem Ltd (Registered number: 04589190)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,364 45,010
59,364 45,010

CURRENT ASSETS
Stocks 6 152,400 228,569
Debtors 7 123,998 124,295
Cash at bank 1,033 619
277,431 353,483
CREDITORS
Amounts falling due within one year 8 198,683 223,949
NET CURRENT ASSETS 78,748 129,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,112

174,544

CREDITORS
Amounts falling due after more than one
year

9

(37,895

)

(31,667

)

PROVISIONS FOR LIABILITIES 11 (9,081 ) (9,625 )
NET ASSETS 91,136 133,252

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 91,036 133,152
SHAREHOLDERS' FUNDS 91,136 133,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

Yorchem Ltd (Registered number: 04589190)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2023 and were signed on its behalf by:





D Strafford - Director


Yorchem Ltd (Registered number: 04589190)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Yorchem Ltd 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.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when a contract for the sale of goods is determined as unconditional.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised evenly over its estimated useful life..

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Yorchem Ltd (Registered number: 04589190)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Related party transactions
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS 102 section 1A.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Yorchem Ltd (Registered number: 04589190)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 5,000
AMORTISATION
At 1 April 2022
and 31 March 2023 5,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 357,911 9,014 12,450 18,213 397,588
Additions 24,002 1,890 - - 25,892
At 31 March 2023 381,913 10,904 12,450 18,213 423,480
DEPRECIATION
At 1 April 2022 314,025 9,014 12,450 17,089 352,578
Charge for year 10,574 276 - 688 11,538
At 31 March 2023 324,599 9,290 12,450 17,777 364,116
NET BOOK VALUE
At 31 March 2023 57,314 1,614 - 436 59,364
At 31 March 2022 43,886 - - 1,124 45,010

6. STOCKS
2023 2022
£    £   
Stocks 123,400 204,059
Work-in-progress 29,000 24,510
152,400 228,569

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 110,614 111,433
Prepayments and accrued income 13,384 12,862
123,998 124,295

Yorchem Ltd (Registered number: 04589190)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 18,457 581
Other loans (see note 10) 24,496 18,779
Trade creditors 76,507 99,558
Taxation and social security 12,789 16,044
Other creditors - 833
Directors' current accounts 63,318 84,886
Accruals and deferred income 3,116 3,268
198,683 223,949

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans (see note 10) 37,895 31,667

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 18,457 581
Other loans 24,496 18,779
42,953 19,360

Amounts falling due between two and five years:
Other loans - 2-5 years 37,895 31,667

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,081 9,625

Deferred
tax
£   
Balance at 1 April 2022 9,625
Accelerated capital allowances (544 )
Balance at 31 March 2023 9,081

Yorchem Ltd (Registered number: 04589190)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 April 2022 133,152
Deficit for the year (41,116 )
Dividends (1,000 )
At 31 March 2023 91,036

14. OTHER FINANCIAL COMMITMENTS

Minimum lease payments under non-cancellable leases fall due as follows:


2023 2022
£ £
Within one year23,000 23,000
In more than one year46,000 69,000

15. RELATED PARTY DISCLOSURES



2023 2022
£ £
Amounts due to directors at the balance sheet date 63,318 84,886
No interest has been charged