REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Chemspeed Technologies Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
Demonstration stock | 18,641 | 13,627 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Deferred tax asset |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes | ( |
) | ( |
) |
VAT | - | 214,616 |
Other creditors |
Accrued expenses |
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 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.23 | 31.12.22 |
£ | £ |
Within one year |
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. |
for and on behalf of |
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. |