Company registration number 14343290 (England and Wales)
Dorf Ketal Chemicals UK Private Limited
Audited Financial Statements
For the year ended
31 March 2024
Pages for filing with registrar
Dorf Ketal Chemicals UK Private Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Dorf Ketal Chemicals UK Private Limited
Statement Of Financial Position
As at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
45,829
54,995
Current assets
Stocks
736,200
-
Debtors
5
2,022,766
70,570
Cash at bank and in hand
1,810,466
185,921
4,569,432
256,491
Creditors: amounts falling due within one year
6
(1,495,825)
(77,325)
Net current assets
3,073,607
179,166
Net assets
3,119,436
234,161
Capital and reserves
Called up share capital
7,500,000
500,000
Profit and loss reserves
(4,380,564)
(265,839)
Total equity
3,119,436
234,161

The notes on pages 2 to 6 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 September 2024 and are signed on its behalf by:
D.S. Menon
Director
Company registration number 14343290 (England and Wales)
Dorf Ketal Chemicals UK Private Limited
Notes To The Financial Statements
For the year ended 31 March 2024
- 2 -
1
General information

Dorf Ketal Chemicals UK Private Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 8, 39 Hyde Park Gate, London, SW7 5DS.

2
Accounting policies
2.1
Reporting period

The financial statements present information for the year ended 31 March 2024. The comparatives present information for the period from incorporation on 7 September 2022 to 31 March 2023.

2.2
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

2.3
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

The company commenced trading operations during the year and has raised significant finance through the issue of share capital. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for chemical products provided, and is shown net of VAT and other sales related taxes.

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.

2.5
Fixed asset investments

Other fixed asset investments are initially recognised at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversal of impairment losses are recognised immediately in profit and loss.

2.6
Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price to complete and sell.

2.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Dorf Ketal Chemicals UK Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
2
Accounting policies
(Continued)
- 3 -
2.8
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 classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. 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 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

 

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.

2.9
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 income statement 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.

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 income statement, 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.

2.10
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.

Dorf Ketal Chemicals UK Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
2
Accounting policies
(Continued)
- 4 -
2.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 leases asset are consumed.

2.12
Foreign exchange

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 in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
45,829
54,995
Movements in fixed asset investments
Other Fixed Asset Investments
£
Cost or valuation
At 1 April 2023
54,995
Adjustments
(9,166)
At 31 March 2024
45,829
Carrying amount
At 31 March 2024
45,829
At 31 March 2023
54,995
Dorf Ketal Chemicals UK Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
550,800
-
0
Other debtors
15,677
70,570
566,477
70,570
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
1,456,289
-
0
Total debtors
2,022,766
70,570
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
147
Trade creditors
1,304,993
58,521
Taxation and social security
172,261
15,120
Other creditors
18,571
3,537
1,495,825
77,325
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Colin Hamilton FCCA
Statutory Auditor:
Ward Williams
Date of audit report:
11 September 2024
Dorf Ketal Chemicals UK Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
- 6 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
47,667
43,333
9
Directors' transactions

During the year a one-time relocation expense of £3,978,874 was paid to the director. This amount is included within administrative expenses in the statement of comprehensive income.

10
Parent company

The parent company is Dorf-Ketal Chemicals India Limited (Formerly known as Dorf-Ketal Chemicals India Private Limited), incorporated in India with registered office at Plot no2, Block-F, Sector 12 N, Adani Port & Sez Ltd, Mundra Kachchh GL, India. It is also the parent of the smallest group for which consolidated accounts including Dorf Ketal Chemicals UK Private Limited are drawn up, and copies of these accounts can be obtained from its registered office.

 

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