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Registered number: 04947181
Chemical Code Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Grenfell James Associates Limited
13 The Courtyard
Timothy's Bridge Road
Stratford-upon-Avon
Warwickshire
CV37 9NP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04947181
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,507 10,576
7,507 10,576
CURRENT ASSETS
Debtors 5 42,423 45,682
Cash at bank and in hand 15,860 27,756
58,283 73,438
Creditors: Amounts Falling Due Within One Year 6 (31,539 ) (34,855 )
NET CURRENT ASSETS (LIABILITIES) 26,744 38,583
TOTAL ASSETS LESS CURRENT LIABILITIES 34,251 49,159
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,268 ) (2,776 )
NET ASSETS 32,983 46,383
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 32,979 46,379
SHAREHOLDERS' FUNDS 32,983 46,383
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P C Erskine
Director
11/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Chemical Code Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04947181 . The registered office is 13 The Courtyard, Timothy's Bridge Road, Stratford upon Avon, Warwickshire, CV37 9NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 9,130 19,189 28,319
Additions - 538 538
As at 31 October 2024 9,130 19,727 28,857
Depreciation
As at 1 November 2023 8,372 9,371 17,743
Provided during the period 190 3,417 3,607
As at 31 October 2024 8,562 12,788 21,350
...CONTINUED
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Net Book Value
As at 31 October 2024 568 6,939 7,507
As at 1 November 2023 758 9,818 10,576
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,435 41,541
Other debtors 988 4,141
42,423 45,682
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,349 685
Other creditors 7,372 1,839
Taxation and social security 22,818 32,331
31,539 34,855
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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