Clinochem Limited 01606718 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of research and experimental development on natural sciences and engineering and the sale of related chemicals. Digita Accounts Production Advanced 6.30.9574.0 true true 01606718 2022-07-01 2023-06-30 01606718 2023-06-30 01606718 core:RetainedEarningsAccumulatedLosses 2023-06-30 01606718 core:ShareCapital 2023-06-30 01606718 core:CurrentFinancialInstruments 2023-06-30 01606718 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 01606718 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 01606718 core:FurnitureFittings 2023-06-30 01606718 core:OfficeEquipment 2023-06-30 01606718 core:PlantMachinery 2023-06-30 01606718 bus:SmallEntities 2022-07-01 2023-06-30 01606718 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 01606718 bus:FullAccounts 2022-07-01 2023-06-30 01606718 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 01606718 bus:RegisteredOffice 2022-07-01 2023-06-30 01606718 bus:Director1 2022-07-01 2023-06-30 01606718 bus:Director2 2022-07-01 2023-06-30 01606718 bus:Director3 2022-07-01 2023-06-30 01606718 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01606718 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-01 2023-06-30 01606718 core:ComputerEquipment 2022-07-01 2023-06-30 01606718 core:FurnitureFittings 2022-07-01 2023-06-30 01606718 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 01606718 core:OfficeEquipment 2022-07-01 2023-06-30 01606718 core:PlantMachinery 2022-07-01 2023-06-30 01606718 core:OtherRelatedParties 2022-07-01 2023-06-30 01606718 countries:EnglandWales 2022-07-01 2023-06-30 01606718 2022-06-30 01606718 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 01606718 core:FurnitureFittings 2022-06-30 01606718 core:OfficeEquipment 2022-06-30 01606718 core:PlantMachinery 2022-06-30 01606718 2021-07-01 2022-06-30 01606718 2022-06-30 01606718 core:RetainedEarningsAccumulatedLosses 2022-06-30 01606718 core:ShareCapital 2022-06-30 01606718 core:CurrentFinancialInstruments 2022-06-30 01606718 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 01606718 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 01606718 core:FurnitureFittings 2022-06-30 01606718 core:OfficeEquipment 2022-06-30 01606718 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 01606718

Clinochem Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Clinochem Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Clinochem Limited

Company Information

Directors

Mrs PJ Shaw

Mrs AJ Shaw-Monson

Mr AC Shaw

Registered office

Dunedin
High Elms Road
Downe
Kent
BR6 7JN

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Clinochem Limited

(Registration number: 01606718)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

4,669

5,493

Tangible assets

5

2,729

3,211

 

7,398

8,704

Current assets

 

Debtors

6

2,833

4,642

Cash at bank and in hand

 

43,926

52,281

 

46,759

56,923

Creditors: Amounts falling due within one year

7

(4,696)

(13,788)

Net current assets

 

42,063

43,135

Net assets

 

49,461

51,839

Capital and reserves

 

Called up share capital

2,000

2,000

Retained earnings

47,461

49,839

Shareholders' funds

 

49,461

51,839

 

Clinochem Limited

(Registration number: 01606718)
Balance Sheet as at 30 June 2023 (continued)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
Mrs PJ Shaw
Director

   
     
 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

Clinochem Limited is a private company, linited by shares, registered in England and Wales. The company’s registered number is 01606718 and registered office address is as follows:

Dunedin
High Elms Road
Downe
Kent
BR6 7JN
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest pound.

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern assessment.

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Sales of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated
with the ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing balance

Office equipment

15% Reducing balance

Moulds

25% Reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

15% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision in the Balance sheet.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2022

130,444

130,444

At 30 June 2023

130,444

130,444

Amortisation

At 1 July 2022

124,951

124,951

Amortisation charge

824

824

At 30 June 2023

125,775

125,775

Carrying amount

At 30 June 2023

4,669

4,669

At 30 June 2022

5,493

5,493

5

Tangible assets

Office equipment
£

Moulds
£

Plant & Machinery
£

Total
£

Cost or valuation

At 1 July 2022

30,237

20,527

22,378

73,142

At 30 June 2023

30,237

20,527

22,378

73,142

Depreciation

At 1 July 2022

27,150

20,527

22,254

69,931

Charge for the year

463

-

19

482

At 30 June 2023

27,613

20,527

22,273

70,413

Carrying amount

At 30 June 2023

2,624

-

105

2,729

At 30 June 2022

3,087

-

124

3,211

 

Clinochem Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Other debtors

2,833

4,642

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

21

1,581

Trade creditors

 

2,723

3,792

Other payables

 

-

6,556

Accruals

 

1,952

1,859

 

4,696

13,788

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

21

-

Directors current account

-

1,581

21

1,581

9

Related party transactions

Summary of transactions with other related parties

Advances to the director amounts to £2,744 (2022 Nil) during the year, this amount remains outstanding at the balance sheet. The advance has been fully repaid to the company since the year end.

Interest has been charged where appropriate on the advances at the official HM Revenue and Customs rate of 2%.