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REGISTERED NUMBER: 05405054 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Devan-PPT Chemicals Limited

Devan-PPT Chemicals Limited (Registered number: 05405054)






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


Devan-PPT Chemicals Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Dr J Ellis
J A N Sachs
R Moyle



SECRETARY: Dr J Ellis



REGISTERED OFFICE: 47a Queen Street
Derby
Derbyshire
DE1 3DE



REGISTERED NUMBER: 05405054 (England and Wales)



SENIOR STATUTORY AUDITOR: David Meadows BA BFP FCA



AUDITORS: Bourne & Co.
Statutory Auditors
47a Queen Street
Derby
Derbyshire
DE1 3DE

Devan-PPT Chemicals Limited (Registered number: 05405054)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,309 15,925
10,309 15,925

CURRENT ASSETS
Debtors 6 522,801 543,540
Cash at bank and in hand 150,422 65,285
673,223 608,825
CREDITORS
Amounts falling due within one year 7 46,468 35,831
NET CURRENT ASSETS 626,755 572,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

637,064

588,919

PROVISIONS FOR LIABILITIES 2,150 -
NET ASSETS 634,914 588,919

CAPITAL AND RESERVES
Called up share capital 9 150,000 150,000
Retained earnings 484,914 438,919
SHAREHOLDERS' FUNDS 634,914 588,919

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 28 February 2024 and were signed on its behalf by:





Dr J Ellis - Director


Devan-PPT Chemicals Limited (Registered number: 05405054)

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

1. STATUTORY INFORMATION

Devan-PPT 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents amounts invoiced or receivable excluding value added tax arising from service and sales support agreements between other group companies. Turnover and the associated debtor is recognised at the point of delivering the service or support and invoices are raised by the group annually in accordance with the agreements.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Devan-PPT Chemicals Limited (Registered number: 05405054)

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

2. ACCOUNTING POLICIES - continued

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 35,925
AMORTISATION
At 1 January 2023
and 31 December 2023 35,925
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 49,417 76,439 17,990 27,230 171,076
DEPRECIATION
At 1 January 2023 42,613 68,245 17,990 26,303 155,151
Charge for year 1,838 3,070 - 708 5,616
At 31 December 2023 44,451 71,315 17,990 27,011 160,767
NET BOOK VALUE
At 31 December 2023 4,966 5,124 - 219 10,309
At 31 December 2022 6,804 8,194 - 927 15,925

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,178 356
Amounts owed by group undertakings 499,295 516,225
Other debtors 22,328 23,339
522,801 539,920

Amounts falling due after more than one year:
Other debtors - 3,620

Aggregate amounts 522,801 543,540

Devan-PPT Chemicals Limited (Registered number: 05405054)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,430 12,338
Taxation and social security 16,562 6,826
Other creditors 13,476 16,667
46,468 35,831

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 22,443 23,422
Between one and five years 57,343 77,708
79,786 101,130

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150,000 Ordinary £1.00 150,000 150,000

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

The Report of the Auditors was unqualified.

David Meadows BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Bourne & Co.

11. RELATED PARTY DISCLOSURES

Recharge of services during the year to the group companies amounted to £499,295 (2022: £516,225).

The amount due from group companies at 31 December 2023 was £499,295 (2022: £516,225).

In addition during the year consultancy fees were paid to a company which the director J Ellis controlled. The value of these fees was £34,262 (2022 £42,895) and the balance outstanding at the year end was £3,000 owed by Devan PPT Chemicals Limited (2022: £2,724)

12. ULTIMATE CONTROLLING PARTY

The controlling party is Devan Chemicals NV of I.Z. Klein Frankrijk - Klein Frankrijkstraat 8 - 9600 Ronse - Belgium.

The ultimate controlling party is Fashion Chemicals GmbH & Co. KG of Isardamm 79-83, 82538 Geretsried and accounts are available from this address.