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REGISTERED NUMBER: 03141125 (England and Wales)














Financial Statements

for the Year Ended 30 September 2024

for

CHEMIAN TECHNOLOGY LIMITED

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CHEMIAN TECHNOLOGY LIMITED

Company Information
for the Year Ended 30 September 2024







Directors: I T Dell
M I Armstrong



Secretary: C B Hodgson



Registered office: Unit 2, Eastmount Road
Darlington
Co. Durham
DL1 1LA



Registered number: 03141125 (England and Wales)



Senior statutory auditor: L Harris BSc (Hons) FCCA



Auditors: Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Abridged Balance Sheet
30 September 2024

30/9/24 30/9/23
Notes £    £    £   
Fixed assets
Intangible assets 4 914,792 936,080
Tangible assets 5 11,852 10,745
Investments 6 10,530 10,530
937,174 957,355

Current assets
Stocks 491,730 469,021
Debtors 7 206,770 217,148
Cash at bank and in hand 794,786 532,080
1,493,286 1,218,249
Creditors
Amounts falling due within one year 321,782 214,647
Net current assets 1,171,504 1,003,602
Total assets less current liabilities 2,108,678 1,960,957

Creditors
Amounts falling due after more than one
year

(827,755

)

(1,122,790

)

Provisions for liabilities (2,885 ) -
Net assets 1,278,038 838,167

Capital and reserves
Called up share capital 180 180
Share premium 63,520 63,520
Retained earnings 1,214,338 774,467
Shareholders' funds 1,278,038 838,167

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 April 2025 and were signed on its behalf by:





I T Dell - Director


CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Chemian Technology 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.

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.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Chemian Technology Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Changes in accounting policies
The amortisation policy applied to intangible assets, specifically patents and trademarks, has been amended in the current year from 20 years straight line to the policy disclosed. This is to apply a systematic approach so that the amortisation aligns with the expected flow of economic benefits to the Company. The impact on the financial statements has been a reduction to profits of £17,255.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax.

Turnover from the sale of stock is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.

Patents and trademarks - initial application costs are amortised over the maximum contractual term of the patent (20 years) or trademark (10 years), any renewals of the patents or trademarks are amortised over the remaining term. A systematic amortisation method is used which reflects the expected pattern in which the asset’s future economic benefits are expected to be consumed.

Development costs - amortised evenly over their estimated useful life of 20 years.

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 - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 1,494,351
Additions 71,890
At 30 September 2024 1,566,241
AMORTISATION
At 1 October 2023 558,271
Amortisation for year 93,178
At 30 September 2024 651,449
NET BOOK VALUE

At 30 September 2024 914,792
At 30 September 2023 936,080

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 31,941
Additions 3,716
At 30 September 2024 35,657
DEPRECIATION
At 1 October 2023 21,196
Charge for year 2,609
At 30 September 2024 23,805
NET BOOK VALUE
At 30 September 2024 11,852
At 30 September 2023 10,745

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 October 2023
and 30 September 2024 10,530
NET BOOK VALUE
At 30 September 2024 10,530
At 30 September 2023 10,530

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 30/9/23
£    £   
Amounts owed by group undertakings 68,094 81,718

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/9/24 30/9/23
£    £   
Within one year 4,750 4,750

9. SECURED DEBTS

The following secured debts are included within creditors:

30/9/24 30/9/23
£    £   
Bank loans - 12,759
Other loans 261,199 334,715
261,199 347,474

Bank loans are secured by a fixed and floating charge on the undertaking and assets of the company.

Other loans are secured by a fixed and floating charge on the assets of the company.

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

The Report of the Auditors was unqualified.

L Harris BSc (Hons) FCCA (Senior Statutory Auditor)
for and on behalf of Mitchell Gordon LLP

11. CONTINGENT LIABILITIES

In 2020 Chemian engaged with a third party to act as a broker and provide advice on the potential sale of the business, for this service Chemian is expected to pay £220,000 (2023 : £220,000) in fees on the successful completion of a sale.

CHEMIAN TECHNOLOGY LIMITED (REGISTERED NUMBER: 03141125)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. RELATED PARTY DISCLOSURES

During the period the following related party transactions took place:

30/9/24 30/9/23
£    £   

Loans to subsidiary (2024: €30,000, 2023: €32,000) 25,692 27,898
Commission charged by subsidiary (2024: €52,356, 2023 : €38,568) 44,212 33,681

Amounts outstanding as at the balance sheet date amount to:
30/9/24 30/9/23
£    £   

Amounts due from subsidiary 68,094 81,718

Amounts due are interest free with no terms for repayment.