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CHEMSOL CYMRU LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHEMSOL CYMRU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 896,485 867,381

CURRENT ASSETS
Stocks 100,098 135,212
Debtors 5 565,815 349,223
Prepayments and accrued income 18,421 16,175
Cash at bank and in hand 244,943 309,226
929,277 809,836
CREDITORS
Amounts falling due within one year 6 490,677 310,259
NET CURRENT ASSETS 438,600 499,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,335,085

1,366,958

CREDITORS
Amounts falling due after more than one
year

7

(11,945

)

(25,590

)

PROVISIONS FOR LIABILITIES 9 (106,925 ) (116,922 )

ACCRUALS AND DEFERRED INCOME (14,108 ) (12,486 )
NET ASSETS 1,202,107 1,211,960

CAPITAL AND RESERVES
Called up share capital 140 140
Revaluation reserve 10 294,730 294,730
Retained earnings 907,237 917,090
1,202,107 1,211,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024


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 22 July 2024 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 2024

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 2024

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 40 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 April 2023 - 750,000 84,483
Additions 18,056 10,860 12,747
At 31 March 2024 18,056 760,860 97,230
DEPRECIATION
At 1 April 2023 - - 65,167
Charge for year - - 4,496
At 31 March 2024 - - 69,663
NET BOOK VALUE
At 31 March 2024 18,056 760,860 27,567
At 31 March 2023 - 750,000 19,316

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 16,487 192,926 10,593 1,054,489
Additions 2,451 11,975 3,973 60,062
At 31 March 2024 18,938 204,901 14,566 1,114,551
DEPRECIATION
At 1 April 2023 2,874 116,684 2,383 187,108
Charge for year 2,737 20,490 3,235 30,958
At 31 March 2024 5,611 137,174 5,618 218,066
NET BOOK VALUE
At 31 March 2024 13,327 67,727 8,948 896,485
At 31 March 2023 13,613 76,242 8,210 867,381

Cost or valuation at 31 March 2024 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2022 - 379,761 -
Cost 18,056 381,099 97,230
18,056 760,860 97,230

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
Valuation in 2022 - - - 379,761
Cost 18,938 204,901 14,566 734,790
18,938 204,901 14,566 1,114,551

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

2024 2023
£    £   
Cost 381,099 370,239

Land and buildings were valued on a fair value basis on 31 March 2024 by the directors .

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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 2023
and 31 March 2024 38,725
DEPRECIATION
At 1 April 2023 6,454
Charge for year 14,119
At 31 March 2024 20,573
NET BOOK VALUE
At 31 March 2024 18,152
At 31 March 2023 32,271

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 346,480 263,832
Other debtors 5,113 5,113
Intercompany account 2,789 -
Directors' current accounts 158,123 60,063
Tax 53,310 20,215
565,815 349,223

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,852 12,604
Hire purchase contracts (see note 8) 2,835 6,548
Trade creditors 360,671 216,751
Tax 33,846 16,104
S455 tax creditor 33,095 18,737
Social security and other taxes 9,847 6,005
VAT 37,838 32,329
Other creditors 1,693 1,181
490,677 310,259

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,294 11,025
Bank loans - 2-5 years 4,651 7,294
Bank loans more 5 yr by instal - 4,436
Hire purchase contracts (see note 8) - 2,835
11,945 25,590

Amounts falling due in more than five years:

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,835 6,548
Between one and five years - 2,835
2,835 9,383

Non-cancellable operating leases
2024 2023
£    £   
Within one year 10,560 12,416
Between one and five years 21,690 31,109
In more than five years - 1,141
32,250 44,666

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 106,925 116,922

Deferred
tax
£   
Balance at 1 April 2023 116,922
Credit to Income Statement during year (9,997 )
Balance at 31 March 2024 106,925

CHEMSOL CYMRU LIMITED (REGISTERED NUMBER: 04619848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 294,730

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G J Lewis
Balance outstanding at start of year 15,407 5,939
Amounts advanced 11,656 15,431
Amounts repaid - (5,963 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,063 15,407

N F A Lewis
Balance outstanding at start of year 37,441 35,658
Amounts advanced 77,624 27,972
Amounts repaid - (26,189 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 115,065 37,441

P J Lewis
Balance outstanding at start of year 7,216 -
Amounts advanced 8,780 7,216
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,996 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.