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REGISTERED NUMBER: 02232890 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Brad-Chem Limited

Brad-Chem Limited (Registered number: 02232890)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brad-Chem Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: C E Brady





REGISTERED OFFICE: Unit D6
Moss Industrial Estate
Leigh
Lancashire
WN7 3PT





REGISTERED NUMBER: 02232890 (England and Wales)





ACCOUNTANTS: Robbins
176 Monton Road
Monton
Greater Manchester
M30 9GA

Brad-Chem Limited (Registered number: 02232890)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8 8
Property, plant and equipment 5 171,158 84,071
171,166 84,079

CURRENT ASSETS
Inventories 6 1,031,314 1,274,551
Debtors 7 2,009,730 1,727,840
Cash at bank 1,703,738 855,275
4,744,782 3,857,666
CREDITORS
Amounts falling due within one year 8 1,654,643 986,682
NET CURRENT ASSETS 3,090,139 2,870,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,261,305

2,955,063

CREDITORS
Amounts falling due after more than one
year

9

(6,132

)

-

PROVISIONS FOR LIABILITIES 11 (10,432 ) (4,952 )
NET ASSETS 3,244,741 2,950,111

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 3,244,641 2,950,011
SHAREHOLDERS' FUNDS 3,244,741 2,950,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Brad-Chem Limited (Registered number: 02232890)

Balance Sheet - continued
30 September 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 director and authorised for issue on 17 April 2024 and were signed by:





C E Brady - Director


Brad-Chem Limited (Registered number: 02232890)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Brad-Chem 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.

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

Intangible fixed assets
Intangible fixed assets are stated at cost and amortised over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the inventories to its present location and condition.

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.

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


Brad-Chem Limited (Registered number: 02232890)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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
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.

Patent and trademarks
Expenditure on patent and trademark applications is charged to the profit and loss account when incurred. Substantial expenditure is capitalised and amortised over the estimated useful life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences Trademarks Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 835 2,232 3,067
AMORTISATION
At 1 October 2022
and 30 September 2023 828 2,231 3,059
NET BOOK VALUE
At 30 September 2023 7 1 8
At 30 September 2022 7 1 8

Brad-Chem Limited (Registered number: 02232890)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2022 341,172 54,950 396,122
Additions 45,135 92,607 137,742
Disposals (5,000 ) (54,950 ) (59,950 )
At 30 September 2023 381,307 92,607 473,914
DEPRECIATION
At 1 October 2022 261,446 50,605 312,051
Charge for year 26,973 19,474 46,447
Eliminated on disposal (4,956 ) (50,786 ) (55,742 )
At 30 September 2023 283,463 19,293 302,756
NET BOOK VALUE
At 30 September 2023 97,844 73,314 171,158
At 30 September 2022 79,726 4,345 84,071

6. INVENTORIES
30.9.23 30.9.22
£    £   
Finished goods 1,031,314 1,274,551

7. DEBTORS
30.9.23 30.9.22
£    £   
Amounts falling due within one year:
Trade debtors 1,465,492 1,294,721
Amounts owed by group undertakings 487,915 320,685
Other debtors - 62,975
Prepayments and accrued income 30,676 23,812
1,984,083 1,702,193

Amounts falling due after more than one year:
Amounts owed by joint ventures 25,647 25,647

Aggregate amounts 2,009,730 1,727,840

Brad-Chem Limited (Registered number: 02232890)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 1,305,214 574,217
Tax 238,983 199,913
Social security and other taxes 77,817 200,842
Other creditors - 3,460
Hire purchase 23,529 -
Accrued expenses 9,100 8,250
1,654,643 986,682

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Hire purchase 6,132 -

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Between one and five years 512,281 -
In more than five years - 576,000
512,281 576,000

11. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 10,432 4,952

Deferred
tax
£   
Balance at 1 October 2022 4,952
Provided during year 5,480
Balance at 30 September 2023 10,432

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary £1 100 100

Brad-Chem Limited (Registered number: 02232890)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

13. RESERVES
Retained
earnings
£   

At 1 October 2022 2,950,011
Profit for the year 996,630
Dividends (702,000 )
At 30 September 2023 3,244,641

14. ULTIMATE CONTROLLING PARTY

The controlling party is Brad-Chem Holdings Limited.

The ultimate controlling party is C E Brady.

The company is a wholly owned undertaking of Brad-Chem Holdings Limited, a company registered in England and Wales.

15. SECURED DEBTS

As a result of Loans Notes held within Brad-Chem Holdings Limited and with effect from 22 November 2017 there is a Fixed charge over all estates or interests in any freehold or leasehold property belonging to the company now or at any time after the date of the debenture, Fixed charge over all patents, patent applications, trade marks and trade mark applications.

The charge contains a floating charge covering all the property or undertaking of the company and contains a negative pledge.