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REGISTERED NUMBER: 08088650 (England and Wales)















WORCESTERSHIRE CHEMICALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WORCESTERSHIRE CHEMICALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr G S Hackett





REGISTERED OFFICE: Unit 6
Oakdale Trading Estate
Ham Lane
Kingswinford
West Midlands
DY6 7JH





REGISTERED NUMBER: 08088650 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WORCESTERSHIRE CHEMICALS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Worcestershire Chemicals Limited for the year ended 31 May 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Worcestershire Chemicals Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Worcestershire Chemicals Limited and state those matters that we have agreed to state to the director of Worcestershire Chemicals Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Worcestershire Chemicals Limited and its director for our work or for this report.

It is your duty to ensure that Worcestershire Chemicals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Worcestershire Chemicals Limited. You consider that Worcestershire Chemicals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Worcestershire Chemicals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


8 February 2024

WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,585 4,033
Tangible assets 5 18,624 24,831
22,209 28,864

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 274,221 263,984
Cash at bank 42,303 38,549
336,524 322,533
CREDITORS
Amounts falling due within one year 7 194,998 167,741
NET CURRENT ASSETS 141,526 154,792
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,735

183,656

CREDITORS
Amounts falling due after more than one
year

8

(1,175

)

(2,741

)

PROVISIONS FOR LIABILITIES (4,220 ) (5,484 )
NET ASSETS 158,340 175,431

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 158,240 175,331
SHAREHOLDERS' FUNDS 158,340 175,431

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

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

WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 8 February 2024 and were signed by:





Mr G S Hackett - Director


WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

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


1. STATUTORY INFORMATION

Worcestershire Chemicals 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
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of value added tax. The fair value of consideration takes into account trade discounts.

Revenue from the sale of goods is recognised when:
- the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods;
- the amount of the revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Website is being amortised evenly over its estimated useful life of ten years.

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

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis.

At each reporting date, an assessment is made for impairment, being any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell. The impairment loss and any subsequent reversal is recognised in the statement of comprehensive income.

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 statement of financial position date.


WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 statement of financial position 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.

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 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 4,481
AMORTISATION
At 1 June 2022 448
Charge for year 448
At 31 May 2023 896
NET BOOK VALUE
At 31 May 2023 3,585
At 31 May 2022 4,033

WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 20,460 6,812 3,100 30,372
DEPRECIATION
At 1 June 2022 2,046 1,703 1,792 5,541
Charge for year 4,603 1,277 327 6,207
At 31 May 2023 6,649 2,980 2,119 11,748
NET BOOK VALUE
At 31 May 2023 13,811 3,832 981 18,624
At 31 May 2022 18,414 5,109 1,308 24,831

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 196,274 198,275
Other debtors 77,947 65,709
274,221 263,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 1,567 1,567
Trade creditors 144,269 138,004
Taxation and social security 31,921 19,823
Other creditors 17,241 8,347
194,998 167,741

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 1,175 2,741

WORCESTERSHIRE CHEMICALS LIMITED (REGISTERED NUMBER: 08088650)

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


9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 1,697 1,697
Between one and five years 1,273 2,969
2,970 4,666

Finance charges repayable:
Within one year 130 130
Between one and five years 98 228
228 358

Net obligations repayable:
Within one year 1,567 1,567
Between one and five years 1,175 2,741
2,742 4,308

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 2,742 4,308

Hire purchase liabilities are secured upon the asset to which they relate.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr G S Hackett
Balance outstanding at start of year 30,300 19,508
Amounts advanced 821 10,792
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,121 30,300