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REGISTERED NUMBER: 01212067 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

D.B.M. CHEMICALS LIMITED

D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D.B.M. CHEMICALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M D Hornett
J R Hornett
K P Hornett





SECRETARY: Mrs H M Hornett





REGISTERED OFFICE: 73 Ferry Lane South
Rainham
Essex
RM13 9YH





REGISTERED NUMBER: 01212067 (England and Wales)





AUDITORS: Sargeant Partnership LLP
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20 30

CURRENT ASSETS
Stocks 5 360,307 445,444
Debtors 6 600,743 372,413
Cash at bank 220,962 380,927
1,182,012 1,198,784
CREDITORS
Amounts falling due within one year 7 685,139 340,583
NET CURRENT ASSETS 496,873 858,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

496,893

858,231

CREDITORS
Amounts falling due after more than one
year

8

-

450,000
NET ASSETS 496,893 408,231

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 496,793 408,131
SHAREHOLDERS' FUNDS 496,893 408,231

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 27 February 2025 and were signed on its behalf by:





J R Hornett - Director


D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

D.B.M. Chemicals 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in these accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recongised once the product has been delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% per annum on reducing balance
Computer equipment - 25% per annum on 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.


D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 10,154 4,485 14,639
DEPRECIATION
At 1 June 2023 10,142 4,467 14,609
Charge for year 4 6 10
At 31 May 2024 10,146 4,473 14,619
NET BOOK VALUE
At 31 May 2024 8 12 20
At 31 May 2023 12 18 30

5. STOCKS
2024 2023
£    £   
Stocks 360,307 445,444

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 600,743 372,413

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 383,374 210,057
Amounts owed to group undertakings 100,000 -
Taxation and social security 37,820 78,830
Other creditors 163,945 51,696
685,139 340,583

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 450,000

D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

10. RESERVES
Retained
earnings
£   

At 1 June 2023 408,131
Profit for the year 88,662
At 31 May 2024 496,793

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

The Report of the Auditors was unqualified.

Joanne Brown (Senior Statutory Auditor)
for and on behalf of Sargeant Partnership LLP

12. RELATED PARTY DISCLOSURES

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.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are MD Hornett and JR Hornett by way of their shareholdings in Hornett Holdings Limited, the parent company of Hornett Bros & Co Limited. Hornett Bros & Co Limited is the parent company of D.B.M Chemicals Limited.