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Registered Number: 07054961
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

HEXEAL CHEMICALS LIMITED

 

 
Notes

 
2023
£

  2022
£
(as restated)
Fixed assets      
Tangible fixed assets 3 99,926    28,779 
99,926    28,779 
Current assets      
Stocks 4 304,446    193,150 
Debtors 5 164,909    333,308 
Cash at bank and in hand 54,878    57,115 
524,233    583,573 
Creditors: amount falling due within one year 6 (232,427)   (320,087)
Net current assets 291,806    263,486 
 
Total assets less current liabilities 391,732    292,265 
Provisions for liabilities 7 (7,774)   (7,774)
Net assets 383,958    284,491 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 383,858    284,391 
Shareholders' funds 383,958    284,491 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 December 2024 and were signed on its behalf by:


-------------------------------
Christopher Moore
Director
1
General Information
Hexeal Chemicals Limited is a private company, limited by shares, registered in England and Wales, registration number 07054961, registration address Unit 1 Railway Farm, Norwich Road, Great Plumstead, Norfolk, NR13 5FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 11 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 January 2023 76,335    6,653    18,734    101,722 
Additions 112,271      4,355    116,626 
Disposals      
At 31 December 2023 188,606    6,653    23,089    218,348 
Depreciation
At 01 January 2023 57,218    5,097    10,629    72,944 
Charge for year 43,062    389    2,027    45,478 
On disposals      
At 31 December 2023 100,280    5,486    12,656    118,422 
Net book values
Closing balance as at 31 December 2023 88,326    1,167    10,433    99,926 
Opening balance as at 01 January 2023 19,117    1,557    8,105    28,779 


4.

Stocks

2023
£
  2022
£
Stocks 304,446    193,150 
304,446    193,150 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 58,718    67,422 
Prepayments & Accrued Income 5,504   
Other Debtors 36,124    174,155 
Directors' Current Accounts 64,563    91,731 
164,909    333,308 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 157,901    89,395 
Bank Loans & Overdrafts 24,930    33,821 
Amounts Owed to Participating Interests   14,000 
Corporation Tax 11,223    20,171 
PAYE & Social Security 15,580    9,649 
Other Creditors 1,526    36,516 
VAT 21,267    116,535 
232,427    320,087 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax (8,345)   7,401 
Charged to Profit & Loss 16,119    373 
7,774    7,774 

2