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REGISTERED NUMBER: 04308129 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Chemspeed Technologies Limited

Chemspeed Technologies Limited (Registered number: 04308129)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Chemspeed Technologies Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M S Moritz
S O Stocker





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden, Bedford
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 04308129 (England and Wales)





AUDITORS: GREGORY WILDMAN
Chartered Accountants
Statutory Auditors
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

Chemspeed Technologies Limited (Registered number: 04308129)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 302 378

CURRENT ASSETS
Stocks 5 20,933 17,209
Debtors 6 1,777,690 1,544,730
Cash at bank 3,700 207,466
1,802,323 1,769,405
CREDITORS
Amounts falling due within one year 7 1,269,075 1,359,382
NET CURRENT ASSETS 533,248 410,023
TOTAL ASSETS LESS CURRENT LIABILITIES 533,550 410,401

CREDITORS
Amounts falling due after more than one year 8 1,006,341 564,351
NET LIABILITIES (472,791 ) (153,950 )

CAPITAL AND RESERVES
Called up share capital 985,000 985,000
Retained earnings (1,457,791 ) (1,138,950 )
SHAREHOLDERS' FUNDS (472,791 ) (153,950 )

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 30 September 2024 and were signed on its behalf by:




S O Stocker - Director



M S Moritz - Director


Chemspeed Technologies Limited (Registered number: 04308129)

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

1. STATUTORY INFORMATION

Chemspeed Technologies 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.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

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 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 measure reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items. Components for demonstration and on loan are valued accordingly and treated as part of the trading stock of the company.

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 statement of financial position date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

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 payable under operating leases are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to profit and loss in the period to which they relate.

Chemspeed Technologies Limited (Registered number: 04308129)

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

2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been prepared on a going concern basis which assumes the continued financial support of the company's ultimate parent undertaking, Chemspeed Technologies AG. Chemspeed Technologies AG has confirmed its commitment to continue its financial support of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 922
DEPRECIATION
At 1 January 2023 544
Charge for year 76
At 31 December 2023 620
NET BOOK VALUE
At 31 December 2023 302
At 31 December 2022 378

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 2,292 3,582
Demonstration stock 18,641 13,627
20,933 17,209

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 21,792
Other debtors 1,445,894 1,194,578
VAT 3,436 -
Deferred tax asset 328,360 328,360
1,777,690 1,544,730

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 11,531 94,459
Tax 400 400
Social security and other taxes (556 ) (556 )
VAT - 214,616
Other creditors 381,242 381,242
Accrued expenses 876,458 669,221
1,269,075 1,359,382

Chemspeed Technologies Limited (Registered number: 04308129)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Intercompany loan 1,006,341 564,351

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year - 18,893

10. SECURED DEBTS

There is a fixed and floating charge over all property and assets present and future including goodwill, uncalled capital, buildings, fixtures and plant and machinery in favour of National Westminster Bank PLC, dated 16th August 2007.

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

The Report of the Auditors was unqualified.

Helen Jones FCA (Senior Statutory Auditor)
for and on behalf of GREGORY WILDMAN

The Income Statement and Directors Report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

12. POST BALANCE SHEET EVENTS

On 6 March 2024, Chemspeed Technologies AG and its subsidiaries have been acquired by the Bruker Group.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Chemspeed Technologies AG.

14. ULTIMATE PARENT COMPANY

Chemspeed Technologies AG is regarded by the directors as being the company's ultimate parent company.

Chemspeed Technologies AG's registered office address is Wölferstrasse 8, CH - 4414 Füllinsdorf, Switzerland.