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REGISTERED NUMBER: 04203034 (England and Wales)















United Anodisers Limited

Strategic Report, Directors' Report and

Audited Financial Statements for the Year Ended 31 December 2023






United Anodisers Limited (Registered number: 04203034)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Directors' Report 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


United Anodisers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J P Clarke
Mr P M Watts





REGISTERED OFFICE: Field Mills
Red Doles Lane
Leeds Road
Huddersfield
Yorkshire
HD2 1YG





REGISTERED NUMBER: 04203034 (England and Wales)





AUDITORS: Advance Audit Limited
Statutory Auditor
71/73 Hoghton Street
Southport
Merseyside
PR9 0PR

United Anodisers Limited (Registered number: 04203034)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

Principal activities
The principal activity of the company in the year under review continued to be that of anodising, for architectural automotive and industrial sectors.

Trading results and financial position
This year has seen a slow down on architectural project starts with the macro economic situation delaying existing scheduled and slowing new build starts, thus effecting the supply chain through fabricators system companies to contractors some resurgence of growth in automotive markets is noted supply chain restrictions have loosened, but continued economic pressure is noted through energy sourcing

Recruitment of appropriate skilled personnel has become slightly easier due in part to the economy

Loyalty from core personnel is key to the business stability and product quality and performance, we are fortunate to have a dedicated and flexible workforce, and management team, focussed on customer satisfaction

The strong foundations built during our 60 year history continue to anchor future growth and development

ON BEHALF OF THE BOARD:





Mr P M Watts - Director


4 June 2024

United Anodisers Limited (Registered number: 04203034)

Directors' Report
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £ 2,100,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr J P Clarke
Mr P M Watts

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial risk management and future developments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr P M Watts - Director


4 June 2024

Report of the Independent Auditors to the Members of
United Anodisers Limited

Opinion
We have audited the financial statements of United Anodisers Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
United Anodisers Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
United Anodisers Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jennifer Tobin FCCA (Senior Statutory Auditor)
for and on behalf of Advance Audit Limited
Statutory Auditor
71/73 Hoghton Street
Southport
Merseyside
PR9 0PR

4 June 2024

United Anodisers Limited (Registered number: 04203034)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 8,309,037 8,770,624

Cost of sales 3,044,770 3,272,686
GROSS PROFIT 5,264,267 5,497,938

Administrative expenses 3,546,083 2,829,748
1,718,184 2,668,190

Other operating income 63,870 31,964
OPERATING PROFIT 5 1,782,054 2,700,154


Interest payable and similar expenses 6 58,323 41,479
PROFIT BEFORE TAXATION 1,723,731 2,658,675

Tax on profit 7 415,043 527,003
PROFIT FOR THE FINANCIAL YEAR 1,308,688 2,131,672

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,308,688

2,131,672

United Anodisers Limited (Registered number: 04203034)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - 43,008
Tangible assets 10 1,770,127 1,696,424
1,770,127 1,739,432

CURRENT ASSETS
Stocks 11 156,338 179,180
Debtors 12 4,595,696 4,743,494
Cash at bank and in hand 175,427 518,245
4,927,461 5,440,919
CREDITORS
Amounts falling due within one year 13 2,192,149 1,765,807
NET CURRENT ASSETS 2,735,312 3,675,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,505,439

5,414,544

CREDITORS
Amounts falling due after more than one
year

14

(549,592

)

(685,498

)

PROVISIONS FOR LIABILITIES 18 (220,086 ) (201,973 )
NET ASSETS 3,735,761 4,527,073

CAPITAL AND RESERVES
Called up share capital 19 1,234,708 1,234,708
Capital redemption reserve 350,000 350,000
Retained earnings 2,151,053 2,942,365
SHAREHOLDERS' FUNDS 3,735,761 4,527,073

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2024 and were signed on its behalf by:





Mr P M Watts - Director


United Anodisers Limited (Registered number: 04203034)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 1,234,708 1,710,693 350,000 3,295,401

Changes in equity
Dividends - (900,000 ) - (900,000 )
Total comprehensive income - 2,131,672 - 2,131,672
Balance at 31 December 2022 1,234,708 2,942,365 350,000 4,527,073

Changes in equity
Dividends - (2,100,000 ) - (2,100,000 )
Total comprehensive income - 1,308,688 - 1,308,688
Balance at 31 December 2023 1,234,708 2,151,053 350,000 3,735,761

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

United Anodisers 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Going concern
The company has continued to trade profitably in 2024.

At the time of preparing the financial statements the directors have prepared detailed budgets and cash flow forecasts for the 12 months following the approval of the financial statements. The directors have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about United Anodisers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, EMC Surface Technologies Limited, 67c King Street, Knutsford, Cheshire, England, WA16 6DX.

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assessing for indicators of impairment
In assessing whether there have been any indicators of impaired assets, the directors have considered both external and internal sources of information such as market conditions, counterpart credit ratings and experience of reconcilability. There have been no material indicators of impairment identified during the current financial year.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Provision for irrecoverable trade debtors
At each balance sheet date, management undertake a review of the outstanding trade debtor balances and estimate the balance that should either be impaired or provided against.

This calculation is based upon the financial position of the relevant customers, the historical speed of payment compared to approved credit terms and the status/progress of any ongoing communications with them.

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 VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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 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.

Goodwill
Goodwill arising on an acquisition is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Routine goodwill is capitalised and amortised through the profit and loss account over the directors estimate of its useful economic life, which is 20 years. Impairment tests on the carrying value of goodwill are undertaking in periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All fixed assets are initially recorded at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Freehold property- 2% on cost
Plant and machinery- at varying rates on cost
Motor vehicles- 25% on cost
Computer equipment- 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Hire purchase and leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 3,187,828 2,737,972
Social security costs 298,437 278,487
Other pension costs 74,009 74,232
3,560,274 3,090,691

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Production 47 30
Distribution 9 8
Administration and Management 14 12
70 50

4. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Directors' remuneration 508,948 263,174

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 508,948 263,174

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 52,563 16,380
Depreciation - owned assets 197,190 144,725
Loss/(profit) on disposal of fixed assets 2,788 (42,149 )
Goodwill amortisation 43,008 103,571
Auditors' remuneration 27,400 25,095
Foreign exchange differences (598 ) 44

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 40,970 28,599
Corporation tax interest 6,399 2,498
VAT Interest 273 -
PAYE Interest 879 -
Hire purchase 9,802 10,382
58,323 41,479

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 396,930 445,927

Deferred tax 18,113 81,076
Tax on profit 415,043 527,003

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,723,731 2,658,675
Profit multiplied by the standard rate of corporation tax in the UK of
23.521% (2022 - 19%)

405,439

505,148

Effects of:
Expenses not deductible for tax purposes - (9,500 )
Change in rate of tax (4,595 ) 19,458
differences
provision
Amortisation and depreciation on assets not qualifying for tax allowances
14,655

23,345

Super-deduction allowances (456 ) (11,448 )
Total tax charge 415,043 527,003

8. DIVIDENDS
2023 2022
£    £   
Final 2,100,000 900,000

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 2,071,437
Disposals (2,071,437 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 2,028,429
Amortisation for year 43,008
Eliminated on disposal (2,071,437 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 43,008

10. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 964,853 2,028,969 331,062 216,148 3,541,032
Additions 15,817 209,476 65,170 23,072 313,535
Disposals - - (53,429 ) - (53,429 )
At 31 December 2023 980,670 2,238,445 342,803 239,220 3,801,138
DEPRECIATION
At 1 January 2023 96,464 1,530,061 42,162 175,921 1,844,608
Charge for year 19,613 97,538 64,436 15,603 197,190
Eliminated on disposal - - (10,787 ) - (10,787 )
At 31 December 2023 116,077 1,627,599 95,811 191,524 2,031,011
NET BOOK VALUE
At 31 December 2023 864,593 610,846 246,992 47,696 1,770,127
At 31 December 2022 868,389 498,908 288,900 40,227 1,696,424

The net carrying value of tangible fixed assets includes £235,115 (2022: £289,035) in respect of assets held under finance lease or hire purchase contracts.

11. STOCKS
2023 2022
£    £   
Stocks 156,338 179,180

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,564,605 1,830,504
Amounts owed by group undertakings 2,918,604 2,762,669
Other debtors 4,491 56,426
Prepayments and accrued income 107,996 93,895
4,595,696 4,743,494

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 15) 504,395 104,200
Hire purchase contracts (see note 16) 45,589 51,643
Trade creditors 401,174 377,928
Amounts owed to group undertakings 48,284 48,284
Tax 100,599 389,162
Social security and other taxes 213,692 87,963
VAT 239,002 394,416
Accruals and deferred income 639,414 312,211
2,192,149 1,765,807

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 15) 395,683 499,883
Hire purchase contracts (see note 16) 153,909 185,615
549,592 685,498

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 400,195 -
Bank loans 104,200 104,200
504,395 104,200

Amounts falling due between two and five years:
Bank loans - 2-5 years 395,683 499,883

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 45,589 51,643
Between one and five years 153,909 185,615
199,498 237,258

Non-cancellable operating leases
2023 2022
£    £   
Within one year 19,316 31,984

17. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 499,883 604,083
Invoice discounting 400,195 -
900,078 604,083

The bank loan and invoice discounting facility are secured by way of fixed and floating charges over the company's assets.

A limited guarantee has been given to the bank by the parent company EMC Surface Technologies Limited for £1,375,000.00 dated 19.12.2023.

18. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 220,086 201,973

Deferred
tax
£   
Balance at 1 January 2023 201,973
Provided during year 18,113
Balance at 31 December 2023 220,086

It is not possible to determine how much of the deferred tax liability will reverse within 12 months due to the company continually reinvesting in new capital equipment.

United Anodisers Limited (Registered number: 04203034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,234,708 Ordinary £1 1,234,708 1,234,708

20. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The total contributions charged to the profit and loss account in the year amounted to £69,067 (2022 : £74,232).

21. ULTIMATE PARENT COMPANY

EMC Surface Technologies Limited is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling party is Mr J P Clarke by virtue of his shareholding in the ultimate parent company.

22. RELATED PARTY DISCLOSURES

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