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CHEMSOL CYMRU LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)






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


CHEMSOL CYMRU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G J Lewis
N F A Lewis
P J Lewis





SECRETARY: Mrs K N Lewis





REGISTERED OFFICE: Chemsol House
Conwy Morfa Business Park
Ffordd Sam Pari
Conwy
LL32 8HH





REGISTERED NUMBER: 04619848 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 867,381 850,978

CURRENT ASSETS
Stocks 135,212 93,561
Debtors 5 349,223 400,883
Prepayments and accrued income 16,175 12,573
Cash at bank and in hand 309,226 469,234
809,836 976,251
CREDITORS
Amounts falling due within one year 6 310,259 447,452
NET CURRENT ASSETS 499,577 528,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,366,958

1,379,777

CREDITORS
Amounts falling due after more than one
year

7

(25,590

)

(44,705

)

PROVISIONS FOR LIABILITIES 9 (116,922 ) (112,821 )

ACCRUALS AND DEFERRED INCOME (12,486 ) (3,001 )
NET ASSETS 1,211,960 1,219,250

CAPITAL AND RESERVES
Called up share capital 140 140
Revaluation reserve 10 294,730 294,730
Retained earnings 917,090 924,380
1,211,960 1,219,250

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.

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





N F A Lewis - Director


CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Chemsol Cymru 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Computer Equipment - 25% on cost
Plant & Machinery - 20% on cost
Office Equipment - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Land & Buildings - 0%

Land & Buildings will be valued on an annual basis, with any gain or impairment being accounted for appropriately.

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.

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Office
leasehold machinery equipment
£    £    £   
COST OR VALUATION
At 1 April 2022 750,000 80,841 10,201
Additions - 3,642 6,286
At 31 March 2023 750,000 84,483 16,487
DEPRECIATION
At 1 April 2022 - 59,244 635
Charge for year - 5,923 2,239
At 31 March 2023 - 65,167 2,874
NET BOOK VALUE
At 31 March 2023 750,000 19,316 13,613
At 31 March 2022 750,000 21,597 9,566

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 162,258 6,716 1,010,016
Additions 30,668 3,877 44,473
At 31 March 2023 192,926 10,593 1,054,489
DEPRECIATION
At 1 April 2022 98,735 424 159,038
Charge for year 17,949 1,959 28,070
At 31 March 2023 116,684 2,383 187,108
NET BOOK VALUE
At 31 March 2023 76,242 8,210 867,381
At 31 March 2022 63,523 6,292 850,978

Cost or valuation at 31 March 2023 is represented by:

Long Plant and Office
leasehold machinery equipment
£    £    £   
Valuation in 2022 379,761 - -
Cost 370,239 84,483 16,487
750,000 84,483 16,487

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2022 - - 379,761
Cost 192,926 10,593 674,728
192,926 10,593 1,054,489

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 370,239 370,239

Land and buildings were valued on a fair value basis on 31 March 2023 by the directors .

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 38,725
DEPRECIATION
At 1 April 2022
and 31 March 2023 6,454
NET BOOK VALUE
At 31 March 2023 32,271
At 31 March 2022 32,271

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 263,832 355,220
Other debtors 5,113 2,588
Directors' current accounts 60,063 41,597
Tax 20,215 1,478
349,223 400,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,604 12,388
Hire purchase contracts (see note 8) 6,548 8,146
Trade creditors 216,751 276,380
Tax 16,104 14,412
S455 tax creditor 18,737 1,478
Social security and other taxes 6,005 6,413
VAT 32,329 59,256
Other creditors 1,181 31,930
Directors' current accounts - 37,049
310,259 447,452

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 11,025 12,917
Bank loans - 2-5 years 7,294 15,335
Bank loans more 5 yr by instal 4,436 7,070
Hire purchase contracts (see note 8) 2,835 9,383
25,590 44,705

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,436 7,070

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 6,548 8,146
Between one and five years 2,835 9,383
9,383 17,529

Non-cancellable operating leases
2023 2022
£    £   
Within one year 12,416 11,130
Between one and five years 31,109 10,666
In more than five years 1,141 -
44,666 21,796

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 116,922 112,821

Deferred
tax
£   
Balance at 1 April 2022 112,821
Charge to Income Statement during year 4,101
Balance at 31 March 2023 116,922

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 294,730

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

2023 2022
£    £   
G J Lewis
Balance outstanding at start of year 5,939 -
Amounts advanced 15,431 5,939
Amounts repaid (5,963 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,407 5,939

N F A Lewis
Balance outstanding at start of year 35,658 -
Amounts advanced 27,972 35,658
Amounts repaid (26,189 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,441 35,658

P J Lewis
Balance outstanding at start of year - -
Amounts advanced 7,216 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,216 -

There is no fixed repayment on the loan amounts. Interest is charged at the official rate of interest on balances in excess of £10,000.