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REGISTERED NUMBER: 02208220 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

STARBRITE CHEMICALS LIMITED

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STARBRITE CHEMICALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: G A Warriner





SECRETARY: A Redington





REGISTERED OFFICE: Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN





REGISTERED NUMBER: 02208220 (England and Wales)





AUDITORS: John Williams & Co Limited
Statutory Auditors
Chartered Certified Accountants
Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,893 26,282

CURRENT ASSETS
Stocks 5 106,686 98,559
Debtors 6 406,787 415,855
Cash at bank and in hand 76,488 562
589,961 514,976
CREDITORS
Amounts falling due within one year 7 326,114 266,196
NET CURRENT ASSETS 263,847 248,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,740

275,062

CREDITORS
Amounts falling due after more than one
year

8

3,500

-
NET ASSETS 311,240 275,062

CAPITAL AND RESERVES
Called up share capital 11 13,333 13,333
Share premium 12 96,667 96,667
Retained earnings 12 201,240 165,062
SHAREHOLDERS' FUNDS 311,240 275,062

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 26 July 2024 and were signed by:





G A Warriner - Director


STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

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

1. STATUTORY INFORMATION

Starbrite 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK, not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 23,108 12,742 65,826 101,676
Additions - - 35,500 35,500
Disposals - - (10,890 ) (10,890 )
At 31 October 2023 23,108 12,742 90,436 126,286
DEPRECIATION
At 1 November 2022 20,470 9,178 45,746 75,394
Charge for year 396 535 8,020 8,951
Eliminated on disposal - - (8,952 ) (8,952 )
At 31 October 2023 20,866 9,713 44,814 75,393
NET BOOK VALUE
At 31 October 2023 2,242 3,029 45,622 50,893
At 31 October 2022 2,638 3,564 20,080 26,282

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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
Additions 24,000
At 31 October 2023 24,000
DEPRECIATION
Charge for year 3,000
At 31 October 2023 3,000
NET BOOK VALUE
At 31 October 2023 21,000

5. STOCKS
2023 2022
£    £   
Stocks 106,686 98,559

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 260,272 259,971
Other debtors 7,643 15,054
Amounts owed by group companies 136,230 140,830
VAT 2,642 -
406,787 415,855

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) - 37,969
Hire purchase contracts 7,000 -
Trade creditors 271,204 205,376
Tax 17,119 10,513
Social security and other taxes 5,097 -
VAT - 2,004
Other creditors 815 -
Net Wages 11,905 -
Directors' current accounts 5,374 5,374
Accruals & deferred income 7,600 4,960
326,114 266,196

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 3,500 -

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 37,969

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 37,969
Hire purchase contracts 10,500 -
10,500 37,969

A composite guarantee in favour of the company's bankers exists between Intachem Holdings Limited, Starbrite Chemicals Limited, Direct Chemical Solutions Limited and Spanjer Chemicals Limited. Intachem Holdings Limited is the parent company. Spanjer Chemicals Limited and Direct Chemical Solutions Limited are companies under common control.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
13,333 Ordinary £1 13,333 13,333

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 165,062 96,667 261,729
Profit for the year 59,178 59,178
Dividends (23,000 ) (23,000 )
At 31 October 2023 201,240 96,667 297,907

STARBRITE CHEMICALS LIMITED (REGISTERED NUMBER: 02208220)

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

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

M R Wilson FCCA (Senior Statutory Auditor)
for and on behalf of John Williams & Co Limited

14. RELATED PARTY DISCLOSURES


XL Holdings Limited
A company in which G A Warriner is a director and 50% shareholder.

At the year end there was a loan balance due from XL Holdings Limited of £1,950 (2022: £8,550) on which no interest was charged.

15. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G A Warriner.

17. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Intachem Holdings Limited whose registered office is Chart House, 2 Effingham Road, Reigate, Surrey, RH2 7JN