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REGISTERED NUMBER: 13625406 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Trust Chem UK Pigments Ltd

Trust Chem UK Pigments Ltd (Registered number: 13625406)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Trust Chem UK Pigments Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: H Loonstra





SECRETARY: MYUKOFFICE LTD





REGISTERED OFFICE: Westwood House
Annie Med Lane
South Cave
East Yorkshire
HU15 2HG





REGISTERED NUMBER: 13625406 (England and Wales)





AUDITORS: Try Lunn & Co
Chartered Accountants
and Statutory Auditors
Roland House
Princes Dock Street
HULL HU1 2LD

Trust Chem UK Pigments Ltd (Registered number: 13625406)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 533,501 513,125
Debtors 4 97,719 175,011
Cash at bank 142,067 59,086
773,287 747,222
CREDITORS
Amounts falling due within one year 5 746,140 773,838
NET CURRENT ASSETS/(LIABILITIES) 27,147 (26,616 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,147

(26,616

)

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 7 27,146 (26,617 )
SHAREHOLDERS' FUNDS 27,147 (26,616 )

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 16 September 2024 and were signed by:





H Loonstra - Director


Trust Chem UK Pigments Ltd (Registered number: 13625406)

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

1. STATUTORY INFORMATION

Trust Chem UK Pigments Ltd 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.

The company is reliant on the operational and financial support of other group companies namely TCC Development Hong Kong Limited and Trust Chem Europe BV. The director has obtained confirmation from TCC Development Hong Kong Limited and Trust Chem Europe BV that they will continue to support the company through its existing facilities for the foreseeable future. On this basis the financial statements have been prepared on the going concern basis.

Turnover
Turnover comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of value added tax.

Turnover is recognised on despatch of the goods in accordance with the company's terms of sale.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Trust Chem UK Pigments Ltd (Registered number: 13625406)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 97,481 170,603
Other debtors 238 4,408
97,719 175,011

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,571 -
Amounts owed to group undertakings 684,410 769,638
Taxation and social security 48,929 -
Other creditors 6,230 4,200
746,140 773,838

6. CALLED UP SHARE CAPITAL

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

7. RESERVES
Retained
earnings
£   

At 1 January 2023 (26,617 )
Profit for the year 53,763
At 31 December 2023 27,146

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

The Report of the Auditors was unqualified.

Simon Moss FCCA (Senior Statutory Auditor)
for and on behalf of Try Lunn & Co

Trust Chem UK Pigments Ltd (Registered number: 13625406)

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

9. RELATED PARTY DISCLOSURES

During the year the company purchased goods, on an arms length basis, totalling £591,522 (2022: £752,986) from Trust Chem Hong Kong Limited, a group company registered in Hong Kong. At 31 December 2023 the company owed £487,782 (2022: £739,523) to Trust Chem Hong Kong Limited. The outstanding balance is interest free and repayable on demand.

During the year the company also purchased goods, on an arms length basis, totalling £229,463 (2022:£NIL) from Trust Chem Pigments Private Limited, a group company registered in India. At 31 December 2023 the company owed £90,063 (2022: £NIL) to Trust Chem Pigments Private Limited. The outstanding balance is interest free and repayable on demand.

During the year the company was loaned £70,450 (2022: £315,000) by its immediate parent company Trust Chem Europe BV, a company registered in The Netherlands. At 31 December 2023 the company owed £100,565 (2022: £30,115) to Trust Chem Europe BV.The outstanding balance is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The immediate controlling party is Trust Chem Europe BV, a company registered in The Netherlands.

The ultimate parent company is Trust Chem Co Ltd, consolidated financial statements are available from No.1069 Donglian Street, Cangqian Sub District, Yuhang District, Hang Zhou 311121, China.

The company is ultimately controlled by Mr Zhi Li.