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REGISTERED NUMBER: SC196610 (Scotland)

















Financial Statements

for the Year Ended 31 May 2024

for

Chemcord Ltd.

Chemcord Ltd. (Registered number: SC196610)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Chemcord Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Dr J R Melrose
Mrs C Melrose
Dr D A Buchanan



SECRETARY: Mrs P A Buchanan



REGISTERED OFFICE: 16 Inch Keith
East Kilbride
Glasgow
G74 2JZ



REGISTERED NUMBER: SC196610 (Scotland)



ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW



BANKERS: The Royal Bank of Scotland plc
Barrhead Branch
29 Cross Arthurlie Street
Barrhead
Glasgow
G78 2JZ

Chemcord Ltd. (Registered number: SC196610)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,145 2,863
2,145 2,863

CURRENT ASSETS
Stocks - 10,094
Debtors 6 - 1,545
Cash at bank 4,107 7,413
4,107 19,052
CREDITORS
Amounts falling due within one year 7 17,243 15,791
NET CURRENT (LIABILITIES)/ASSETS (13,136 ) 3,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,991

)

6,124

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings (15,991 ) 1,124
SHAREHOLDERS' FUNDS (10,991 ) 6,124

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 13 January 2025 and were signed on its behalf by:





Dr J R Melrose - Director


Chemcord Ltd. (Registered number: SC196610)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Chemcord Ltd. is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of educational publishing and printing.

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
Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is shorter. Land is not depreciated.

Plant and machinery - 25% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each
reporting period. The effect of any change is accounted for prospectively.

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the
Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the
impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount
does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Chemcord Ltd. (Registered number: SC196610)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 65,000
AMORTISATION
At 1 June 2023
and 31 May 2024 65,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Goodwill is written off in equal instalments over it's estimated economic life of 10 years.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 21,996
DEPRECIATION
At 1 June 2023 19,133
Charge for year 718
At 31 May 2024 19,851
NET BOOK VALUE
At 31 May 2024 2,145
At 31 May 2023 2,863

Chemcord Ltd. (Registered number: SC196610)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,204
Other debtors - 341
- 1,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 17,243 15,791

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Dr J R Melrose
Balance outstanding at start of year (7,142 ) (6,414 )
Amounts repaid (728 ) (728 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,870 ) (7,142 )

Dr D A Buchanan
Balance outstanding at start of year (7,141 ) (6,413 )
Amounts repaid (728 ) (728 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,869 ) (7,141 )

There are no advances to the directors greater than £10,000.