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REGISTERED NUMBER: 03416027 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MANCHESTER CHEMICALS LIMITED

MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MANCHESTER CHEMICALS LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2024







DIRECTORS: Mr R J Newey
Mr D Armistead
Mrs S Newey





SECRETARY: Mr R J Newey





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 03416027 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

BALANCE SHEET
31st December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 69,694 87,118

CURRENT ASSETS
Stocks 689,640 569,697
Debtors 5 755,005 1,093,143
Cash at bank and in hand 365 359
1,445,010 1,663,199
CREDITORS
Amounts falling due within one year 6 (934,212 ) (1,162,163 )
NET CURRENT ASSETS 510,798 501,036
TOTAL ASSETS LESS CURRENT LIABILITIES 580,492 588,154

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 580,292 587,954
SHAREHOLDERS' FUNDS 580,492 588,154

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th March 2025 and were signed on its behalf by:





Mr R J Newey - Director


MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

Manchester Chemicals Limited is a private company, limited by shares, registered in England and Wales, registration number 03416027. Company's registered office address is 100 Barbirolli Square, Manchester M2 3BD. The principal place of business is 14-20 George street, Alderley Edge, SK9 7EJ.

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. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption
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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future period.

Turnover
Turnover represents amounts recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the sale of chemicals used in the production of paint.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Motor vehicles-20% on reducing balance
Fixtures and fittings-20% on reducing balance
Office equipment-20% on reducing balance


At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation or the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand. Bank borrowings are included within creditors.

3. EMPLOYEES AND DIRECTORS

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

MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1st January 2024
and 31st December 2024 34,434 166,548 16,512 217,494
DEPRECIATION
At 1st January 2024 32,056 83,147 15,173 130,376
Charge for year 476 16,680 268 17,424
At 31st December 2024 32,532 99,827 15,441 147,800
NET BOOK VALUE
At 31st December 2024 1,902 66,721 1,071 69,694
At 31st December 2023 2,378 83,401 1,339 87,118

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 638,784 982,570
Other debtors 116,221 110,573
755,005 1,093,143

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 255,530 239,907
Trade creditors 451,012 682,901
Taxation and social security 214,409 229,870
Other creditors 13,261 9,485
934,212 1,162,163

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 255,530 239,907

The bank loan and overdraft is secured by a fixed and floating charge over the company's assets. In addition the directors have provided a personal guarantee limited to £120,000 (2023 - £120,000).

MANCHESTER CHEMICALS LIMITED (REGISTERED NUMBER: 03416027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

9. RELATED PARTY DISCLOSURES

Included in other debtors is a directors loan totalling £73,787 (2023 - £72,334). This loan is unsecured, interest free and fully repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party was RCEB & Co Limited, incorporated in England and Wales.