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REGISTERED NUMBER: 10230327 (England and Wales)












Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31 December 2023

for

Wychem Holding Limited

Wychem Holding Limited (Registered number: 10230327)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Wychem Holding Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G Engleder





REGISTERED OFFICE: 6th Floor
33 Glasshouse Street
London
W1B 5DG





REGISTERED NUMBER: 10230327 (England and Wales)





AUDITORS: Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

Wychem Holding Limited (Registered number: 10230327)

Strategic Report
for the Year Ended 31 December 2023

The director presents his strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company was set up to acquire MRG Holdings Limited and its subsidiary Wychem Limited. During 2021, MRG Holdings Limited sold its shareholding in Wychem Limited. Whilst there is no longer a trading subsidiary, the directors have no plans at this time to wind the company up.

There are no key performance indicators applicable at this time.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainty remains performance of the investments and the continued credit offered by the parent company. These rely on the continued support of the parent company.

The coronavirus pandemic continued to impact the global economy in 2022. However, leading institutions and organizations are more optimistic about the development of the global economy. Other primary risks for the future development of the economy besides the coronavirus pandemic include possible geopolitical shocks and the uncertainty emanating from international trade conflicts.

The Aurelius management promptly analyses the situation of its portfolio companies in close consultation with the operating management teams of the group companies. The closeness to the group companies made it possible to devise and implement comprehensive action plans to protect the health of employees, minimise the risks to our business processes and soften the blow of the challenging external conditions at the different levels of holding companies and group companies.

No other risks are considered significant at this time.

SECTION 172(1) STATEMENT
This is as follows.

ENGAGEMENT WITH EMPLOYEES
People create success. Our success is the result of the individual performance of every employee.
Respectful treatment of all employees.
Unconditional respect of human rights.
Conscious diversity and internationality of our workforce.
More jobs thanks to successful growth strategies.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Corporate codex
Principles such as responsible, sustainable management are firmly embedded in the Aurelius ESG policy, including:
No investment in the arms industry.
No investment in emissions-intensive companies.
No trading in weapons or armaments, tobacco or tobacco products.
Code of Conduct for suppliers and service providers.
Anti-corruption and anti-bribery policy.
Protection and support for whistleblowers.


Wychem Holding Limited (Registered number: 10230327)

Strategic Report
for the Year Ended 31 December 2023

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
Environment
Goal for the year 2025: Reduce Group wide CO2 emissions by 30 percent.
Measures have been introduced to permanently reduced CO2 emissions.
Reduction of flights through the increased use of video conferences and online meetings and using train travel as an alternative.
Precautions to prevent environmental damage.
CO2 offsetting of the flights of all holding company employees since the 2019 financial year.

Social commitment
Aurelius refugee initiative e.v. Aurelius has been helping refugees since 2015.
Extensive support of the START Foundation to promote outstanding young people with migration backgrounds since 2018.
Long established tradition: Christmas-season collection drive for important social projects; AURELIUS matches the donations raised by employees.

CARBON REPORTING
The company itself is below the 40,000 KWH threshold and no group report is required as it is included in the consolidated accounts of the parent company.

ON BEHALF OF THE BOARD:





G Engleder - Director


20 September 2024

Wychem Holding Limited (Registered number: 10230327)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTOR
G Engleder held office during the whole of the period from 1 January 2023 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
The company has opted to disclose some items in the Strategic Report rather than the Directors Report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

AUDITORS
The auditors, Venture House Business Service Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G Engleder - Director


20 September 2024

Report of the Independent Auditors to the Members of
Wychem Holding Limited

Opinion
We have audited the financial statements of Wychem Holding Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, 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 loss 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
We draw your attention to note 14, as stated, these events or conditions indicate that an uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

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 director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Wychem Holding 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 Report of the Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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
Wychem Holding 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.




Christopher Baylis (Senior Statutory Auditor)
for and on behalf of Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

26 September 2024

Wychem Holding Limited (Registered number: 10230327)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

REVENUE 3 - 62,741

Cost of sales 1,034 32,285
GROSS (LOSS)/PROFIT (1,034 ) 30,456

Administrative expenses 97,496 655,406
OPERATING LOSS 5 (98,530 ) (624,950 )

Income from shares in group
undertakings

6

-

565,611
(98,530 ) (59,339 )

Interest payable and similar expenses 7 - 11
LOSS BEFORE TAXATION (98,530 ) (59,350 )

Tax on loss 8 - 2,949
LOSS FOR THE FINANCIAL YEAR (98,530 ) (62,299 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(98,530

)

(62,299

)

Wychem Holding Limited (Registered number: 10230327)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 10 180,533 180,533

CURRENT ASSETS
Cash at bank 389,925 114,446

CREDITORS
Amounts falling due within one year 11 600,012 226,003
NET CURRENT LIABILITIES (210,087 ) (111,557 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(29,554

)

68,976

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings (29,555 ) 68,975
SHAREHOLDERS' FUNDS (29,554 ) 68,976

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





G Engleder - Director


Wychem Holding Limited (Registered number: 10230327)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 1 754,274 754,275

Changes in equity
Dividends - (623,000 ) (623,000 )
Total comprehensive income - (62,299 ) (62,299 )
Balance at 31 December 2022 1 68,975 68,976

Changes in equity
Total comprehensive income - (98,530 ) (98,530 )
Balance at 31 December 2023 1 (29,555 ) (29,554 )

Wychem Holding Limited (Registered number: 10230327)

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

1. STATUTORY INFORMATION

Wychem Holding 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Preparation of consolidated financial statements
The financial statements contain information about Wychem Holding Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 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, Aurelius Equity Opportunities SE & Co. KGaA, Ludwig-Ganghofer-Straße 6 82031 Grünwald Germany.

Related party exemption
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.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods

The directors have undertaken a review of the carrying value of the investment. Based on information up to the date of the balance sheet and after and projections, the directors are of the opinion that the investment is fairly stated

Turnover
Revenue was previously fees charged to Wychem Limited and recognised on the basis of the date of the invoice, since the sale of Wychem Limited in 2021, revenue relates to items recharged to group companies.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Wychem Holding Limited (Registered number: 10230327)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. REVENUE

The revenue and loss before taxation are attributable to the one principal activity of the company.

All revenue is derived in the UK.

Wychem Holding Limited (Registered number: 10230327)

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

4. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022.

The average number of employees during the year was as follows:
31.12.23 31.12.22

1 1

The director is deemed an employee.

31.12.23 31.12.22
£    £   
Director's remuneration - -

5. OPERATING LOSS

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

31.12.23 31.12.22
£    £   
Other operating leases 1,200 1,200
Auditors' remuneration 5,100 3,150
Auditors' remuneration for non audit work 2,700 3,150
Foreign exchange differences (481 ) 129

6. INCOME FROM SHARES IN GROUP UNDERTAKINGS
31.12.23 31.12.22
£    £   
Shares in group undertakings - 565,611

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest - 11

8. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
31.12.23 31.12.22
£    £   
Deferred tax - 2,949
Tax on loss - 2,949

9. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary share of £1
Interim - 623,000

Wychem Holding Limited (Registered number: 10230327)

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

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 180,533
NET BOOK VALUE
At 31 December 2023 180,533
At 31 December 2022 180,533

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:


MRG Holdings Limited
Registered office: Eldo House, Kempson Way, Bury St Edmunds, Suffolk, IP32 7AR
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 791 773
Amounts owed to group undertakings 504,674 218,593
Accrued expenses 94,547 6,637
600,012 226,003

The amounts owed to group undertakings includes an amount due to the subsidiary, MRG Holdings Limited, no interest is due on this balance.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

13. ULTIMATE PARENT COMPANY

Aurelius Equity Opportunities SE & Co KGaA (incorporated in Germany ) is regarded by the director as being the company's ultimate parent company.

The Company is included in the group accounts prepared by the ultimate parent company, copies of which can be obtained from Ludwig-Ganghofer Strasse 6, 82031 Gruenwald, Germany.

Aurelius Equity Opportunities SE & Co KGaA is also the immediate parent company and heads up the smallest and largest group preparing consolidated accounts in which the Company's results are included.

Wychem Holding Limited (Registered number: 10230327)

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

14. GOING CONCERN

The company's subsidiary, MRG Holdings Limited sold its trading subsidiary Wychem Limited during 2021. Whilst there is no longer a trading subsidiary, the directors have no plans at this time to wind the company up. It is the intention of the company and its parent that it will continue to trade for at least twelve months from the date of the audit report. To this regard the parent company intends to offer such support as may be necessary to ensure this.