IRIS Accounts Production v25.1.0.734 01016104 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 Medium entities the production and formulation of silicones for industry. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary-full rights to voting income and capital return 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010161042023-12-31010161042024-12-31010161042024-01-012024-12-31010161042022-12-31010161042023-01-012023-12-31010161042023-12-3101016104ns15:EnglandWales2024-01-012024-12-3101016104ns14:PoundSterling2024-01-012024-12-3101016104ns10:Director12024-01-012024-12-3101016104ns10:Director22024-01-012024-12-3101016104ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3101016104ns10:MediumEntities2024-01-012024-12-3101016104ns10:Audited2024-01-012024-12-3101016104ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3101016104ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3101016104ns10:FullAccounts2024-01-012024-12-310101610412024-01-012024-12-3101016104ns10:OrdinaryShareClass12024-01-012024-12-3101016104ns10:Director32024-01-012024-12-3101016104ns10:RegisteredOffice2024-01-012024-12-3101016104ns5:CurrentFinancialInstruments2024-12-3101016104ns5:CurrentFinancialInstruments2023-12-3101016104ns5:Non-currentFinancialInstruments2024-12-3101016104ns5:Non-currentFinancialInstruments2023-12-3101016104ns5:ShareCapital2024-12-3101016104ns5:ShareCapital2023-12-3101016104ns5:RetainedEarningsAccumulatedLosses2024-12-3101016104ns5:RetainedEarningsAccumulatedLosses2023-12-3101016104ns5:ShareCapital2022-12-3101016104ns5:RetainedEarningsAccumulatedLosses2022-12-3101016104ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3101016104ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3101016104ns5:NetGoodwill2024-01-012024-12-3101016104ns5:PatentsTrademarksLicencesConcessionsSimilar2024-01-012024-12-3101016104ns15:UnitedKingdom2024-01-012024-12-3101016104ns15:UnitedKingdom2023-01-012023-12-3101016104ns15:Europe2024-01-012024-12-3101016104ns15:Europe2023-01-012023-12-3101016104ns15:UnitedStates2024-01-012024-12-3101016104ns15:UnitedStates2023-01-012023-12-3101016104ns15:SouthAmerica2024-01-012024-12-3101016104ns15:SouthAmerica2023-01-012023-12-3101016104ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2024-01-012024-12-3101016104ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-01-012023-12-3101016104ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2024-01-012024-12-3101016104ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-01-012023-12-3101016104ns5:OwnedAssets2024-01-012024-12-3101016104ns5:OwnedAssets2023-01-012023-12-3101016104ns5:ComputerSoftware2024-01-012024-12-3101016104ns5:ComputerSoftware2023-01-012023-12-3101016104ns10:OrdinaryShareClass12023-01-012023-12-3101016104ns5:ComputerSoftware2023-12-3101016104ns5:ComputerSoftware2024-12-3101016104ns5:ComputerSoftware2023-12-3101016104ns5:LandBuildings2023-12-3101016104ns5:PlantMachinery2023-12-3101016104ns5:FurnitureFittings2023-12-3101016104ns5:MotorVehicles2023-12-3101016104ns5:LandBuildings2024-01-012024-12-3101016104ns5:PlantMachinery2024-01-012024-12-3101016104ns5:FurnitureFittings2024-01-012024-12-3101016104ns5:MotorVehicles2024-01-012024-12-3101016104ns5:LandBuildings2024-12-3101016104ns5:PlantMachinery2024-12-3101016104ns5:FurnitureFittings2024-12-3101016104ns5:MotorVehicles2024-12-3101016104ns5:LandBuildings2023-12-3101016104ns5:PlantMachinery2023-12-3101016104ns5:FurnitureFittings2023-12-3101016104ns5:MotorVehicles2023-12-3101016104ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3101016104ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3101016104ns5:WithinOneYear2024-12-3101016104ns5:WithinOneYear2023-12-3101016104ns5:BetweenOneFiveYears2024-12-3101016104ns5:BetweenOneFiveYears2023-12-3101016104ns5:MoreThanFiveYears2024-12-3101016104ns5:MoreThanFiveYears2023-12-3101016104ns5:AllPeriods2024-12-3101016104ns5:AllPeriods2023-12-3101016104ns5:DeferredTaxation2023-12-3101016104ns5:DeferredTaxation2024-12-3101016104ns10:OrdinaryShareClass12024-12-3101016104ns5:RetainedEarningsAccumulatedLosses2023-12-31
REGISTERED NUMBER: 01016104 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BASILDON CHEMICAL CO. LIMITED

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


BASILDON CHEMICAL CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: D N Degville
P Bering
M Price



REGISTERED OFFICE: Kimber Road
Abingdon
Oxford
Oxfordshire
OX14 1RZ



REGISTERED NUMBER: 01016104 (England and Wales)



AUDITORS: Xeinadin Audit Limited
(Statutory Auditor)
Court House
Court Road
Bridgend
CF31 1BE



SOLICITORS: White & Black Legal LLP
Chalford Park
Oxford Road
Old Chalford
Oxfordshire
OX7 5QR
United Kingdom

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The company's principal activity during the year continued to be the development, production, procurement and supply of a range of silicone and non-silicone based speciality chemicals and intermediates to agreed specifications and to regulated markets including pharmaceuticals, food and cosmetics.

The company reported an increase in sales in 2024 compared to 2023. The growth in sales was mostly driven by customers in the Middle East region and Europe with a decline in North and South America.

The increase in demand in 2024 was caused by a stable market and share growth.

The company continues to manufacture silicone and non-silicone based speciality chemicals and entered into a tolling services agreement with GmbH. Under the terms of this agreement, the Company provides manufacturing services for the GmbH. The company receives compensation for these services on a cost-plus fee basis.

In addition, the company continues to recognise the revenue with its customers, being charged by GmbH for the finished products associated with the sales.

KEY PERFORMANCE INDICATORS

The company uses a range of performance measures to monitor and manage the business effectively. These are both financial and non-financial and the most significant of these are the key performance indicators (KPI's). The KPI's for the year ended 31 December 2024 with comparatives for 2023 and 2022 are summarised as follows:



2024 2023 2022

Gross Profit % 20% 16% 31%
Turnover £24.463,384 £24,108,475 £27,800,981
Profit before tax £2,682,051 £1,083,075 £5,923,988

PRINCIPAL RISKS AND UNCERTAINTIES
The company is exposed to low levels of price, credit, liquidity and cash flow risk. The company manages these risks by financing its operations through retained profits and has access to a full range of financial support available from its parent company if the need should ever arise.

The management's objectives are to retain sufficient liquid funds to enable it to meet its day to day trading requirements, to minimise the company's exposure to fluctuation customer cash flow, and manage future cash flows expected to arise from the company's trading activities.

The company makes little use of financial instruments other than an operational bank account so its exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company.


BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

STRATEGY FOR GROWTH
Basildon Chemical Co. Limited continues to strengthen the existing product portfolio through the technical resources within the company, the acquisition of complimentary products targeted at our key markets and by the utilisation of the significant Research and Development capabilities in Momentive Performance Materials that provides access to innovative and novel technology.

Momentive Performance Materials has continued to strengthen Basildon Chemical Co. Limited, in terms of geographic coverage and enhanced relationships with key customers. The expectation is an improvement in the global economy in 2025 resulting in improved orders and sales to our target customers and markets going forward.

In September 2018, MPM Holdings Inc, a global silicones and advanced materials company, and SJL Partners LLC, KCC Corporation and Wonik QnC Corporation (collectively, the "Investor Group"), entered into a definitive merger agreement whereby the Investor Group would acquire Momentive in a transaction valued at approximately $3.1 billion, including the assumption of net debt, pension and OPEB liabilities.

In January 2021 KCC Corp sold it Silicone division, including 100% of the shares in Basildon Chemical to MPM Holdings Inc. Subsequently the company was acquired by Momentive Performance Materials Holdings UK Limited. Based on the expected strategic synergy effects, the planned system and business integration combined with on-going development of our technology platforms will enable the company to grow the business and improve earnings going forward.

ON BEHALF OF THE BOARD:





P Bering - Director


27 May 2025

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
Dividends of £3,957,250 were paid by the company to its parent company during the year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

D N Degville
P Bering
M Price

DISCLOSURE IN THE STRATEGIC REPORT
Disclosures required under Schedule 7 have been disclosed in the Strategic Report in accordance with S414C(11) of the Companies Act 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Bering - Director


27 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASILDON CHEMICAL CO. LIMITED


Opinion
We have audited the financial statements of Basildon Chemical Co. Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASILDON CHEMICAL CO. LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit was planned on the basis that the testing undertaken and procedures carried out would have a reasonable expectation of detecting any instances of irregularity including fraud. The plan involved assessing the risk of the financial statements containing material misstatements taking into account various factors such as the control systems in place, the standard of record keeping and an assessment of the influence and role of the stakeholders involved. The audit plan was followed and benefitted from the audit teams knowledge of the client. They considered how fraud may occur and where the financial statements may be susceptible to error.

Suitable transaction sample testing was made on the high risk areas of the financial statements. Enquiries were made of the company directors for information and explanations as required during the course of the audit and any contentious areas appropriately challenged to ensure that sufficient audit evidence was obtained.

The procedures and testing undertaken as a result of our risk assessments were deemed sufficient to identify material errors for which adjustment was then made in the financial statements. There is however no guarantee that all errors, including those related to fraud, would be identified as part of the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASILDON CHEMICAL CO. LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nigel Williams BCOM FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
(Statutory Auditor)
Court House
Court Road
Bridgend
CF31 1BE

27 May 2025

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £ £

TURNOVER 3 24,463,384 24,108,475

Cost of sales 19,639,976 20,252,468
GROSS PROFIT 4,823,408 3,856,007

Distribution costs 345,456 274,623
Administrative expenses 1,891,916 2,529,209
2,237,372 2,803,832
2,586,036 1,052,175

Other operating (expenses) /
income (386,849 ) (64,072 )
OPERATING PROFIT 5 2,199,187 988,103

Interest receivable and similar income 482,864 94,972
PROFIT BEFORE TAXATION 2,682,051 1,083,075

Tax on profit 6 662,517 292,384
PROFIT FOR THE FINANCIAL YEAR 2,019,534 790,691

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,019,534

790,691

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 5,136,746 5,265,777
5,136,746 5,265,777

CURRENT ASSETS
Stocks 10 254,300 12,228
Debtors 11 13,120,571 14,346,030
Cash at bank and in hand 2,252,247 2,628,933
15,627,118 16,987,191
CREDITORS
Amounts falling due within one year 12 1,324,663 893,150
NET CURRENT ASSETS 14,302,455 16,094,041
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,439,201

21,359,818

CREDITORS
Amounts falling due after more than one
year

13

(24,517

)

(23,856

)

PROVISIONS FOR LIABILITIES 15 (534,195 ) (517,757 )
NET ASSETS 18,880,489 20,818,205

CAPITAL AND RESERVES
Called up share capital 16 100,000 100,000
Retained earnings 17 18,780,489 20,718,205
SHAREHOLDERS' FUNDS 18,880,489 20,818,205

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




P Bering - Director



D N Degville - Director


BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 January 2023 100,000 19,927,514 20,027,514

Changes in equity
Total comprehensive income - 790,691 790,691
Balance at 31 December 2023 100,000 20,718,205 20,818,205

Changes in equity
Dividends - (3,957,250 ) (3,957,250 )
Total comprehensive income - 2,019,534 2,019,534
Balance at 31 December 2024 100,000 18,780,489 18,880,489

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 3,394,360 11,097,795
Tax paid (19,326 ) (792,769 )
Net cash from operating activities 3,375,034 10,305,026

Cash flows from investing activities
Purchase of tangible fixed assets (427,081 ) (229,520 )
Sale of intangible fixed assets - 98,000
Sale of tangible fixed assets 9,583 (19,432 )
Interest received 482,864 94,972
Net cash from investing activities 65,366 (55,980 )

Cash flows from financing activities
Decrease in group/associated debtors 133,775 (8,804,222 )
Increase in group/associated 6,389 (2,161,969 )
Equity dividends paid (3,957,250 ) -
Net cash from financing activities (3,817,086 ) (10,966,191 )

Decrease in cash and cash equivalents (376,686 ) (717,145 )
Cash and cash equivalents at
beginning of year

2

2,628,933

3,346,078

Cash and cash equivalents at end of
year

2

2,252,247

2,628,933

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£ £
Profit before taxation 2,682,051 1,083,075
Depreciation charges 553,923 582,280
(Profit)/loss on disposal of fixed assets (7,394 ) 26,379
Finance income (482,864 ) (94,972 )
2,745,716 1,596,762
(Increase)/decrease in stocks (242,072 ) 9,331,678
Decrease in trade and other debtors 959,869 628,215
Decrease in trade and other creditors (69,153 ) (458,860 )
Cash generated from operations 3,394,360 11,097,795

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£ £
Cash and cash equivalents 2,252,247 2,628,933
Year ended 31 December 2023
31.12.23 1.1.23
£ £
Cash and cash equivalents 2,628,933 3,346,078


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£ £ £
Net cash
Cash at bank and in hand 2,628,933 (376,686 ) 2,252,247
2,628,933 (376,686 ) 2,252,247
Total 2,628,933 (376,686 ) 2,252,247

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


1. STATUTORY INFORMATION

Basildon Chemical Co. Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Directors have reviewed and considered relevant future budgetary information in making their assessment of going concern and assured themselves of the ongoing financial support of the group parent organisations. On the basis of these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Significant material judgements, estimates and uncertainty
In applying the accounting policies decisions sometimes have to be made about the likely outcome of future events.Those judgements and estimates made in preparing the financial statements are based upon historical experience and assumptions that the directors believed were reasonable the circumstances.

a. Useful economic life of tangible and intangible assets

The useful economic life of assets is kept under annual review. Amendment is made is if the estimate of useful life requires change as a result of technological change or the economic use or physical condition of the assets.

b.Goodwill

The useful life of goodwill was assessed annually to ensure that the estimation of the future productive economic life of the trading assets and liabilities which the goodwill is derived will continue to be deliverable.

c. Going concern

The ability of the company to continue to trade as a going concern is assessed annually by the directors considering the greater support of the Momentive group and the plans that will be in place for future trading.

d. Deferred taxation

Is estimated based upon a calculation of tax timing difference that are likely to arise.

e. Other estimates

The directors annually calculate on a consistent basis any provisions that may be required in connection with bad debts or stocks that make require a reduction in value.

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Revenue from the sale of goods is recognised when significant risks and benefits of ownership of the product have transferred to the buyer, which may be upon shipment, completion of the predict or the product being ready for delivery, based on specific contract terms.

Revenue from services provided by the company is recognised when the company has performed its obligations and in exchange obtained the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019 was being amortised evenly over its estimated useful life of ten years until the trade relating to the goodwill was disposed of during the year.

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.

Goodwill has been amortised evenly over its estimated useful life of 10 years. It represented the additional sum over the value of a collection of trading assets and liabilities that the company bought as a going concern trading enterprise in September 2019. The personal care trade was sold to a third party during the year.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Development costs which relate to the information and technology sector of the company infrastructure are being amortised evenly over their estimated useful life of four years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the asset to its working condition for intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- Straight line over 50 years and Straight line over 30 years
Fixtures and fittings- Straight line over 3 - 15 years
Motor Vehicles- Straight line over 2 - 5 years

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Stocks are valued at the lower of cost and net realisable value.

The company values all stock items initially at average cost. More complex products have an overhead added to them using a standard basis of calculation. The more complex the product is to manufacture, the higher the overhead rate attributed.

Full provision is made for obsolete and slow moving items.

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Leasing commitments
The company makes payments under short term operating leases which are charged as they arise to the Profit and Loss account.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the profit & loss account in the period to which they relate.

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£ £
United Kingdom 3,546,460 3,703,192
Europe 13,485,642 13,219,008
United States of America 702,705 1,178,260
South America 174,578 258,368
Middle East 2,668,298 1,827,527
Rest of the World 3,885,701 3,922,120
24,463,384 24,108,475

4. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 2,906,433 2,681,224
Social security costs 259,388 246,220
Other pension costs 153,584 113,533
3,319,405 3,040,977

The average number of employees during the year was as follows:
2024 2023

Distribution & Admin 28 30
Manufacturing 30 25
58 55

2024 2023
£ £
Directors' remuneration 110,507 113,965
Directors' pension contributions to money purchase schemes 13,826 13,453

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£ £
Hire of plant and machinery 66,605 135,507
Other operating leases 164,585 67,378
Depreciation - owned assets 553,923 550,586
(Profit)/loss on disposal of fixed assets (7,394 ) 26,379
Computer software amortisation - 31,693
Auditors' remuneration 13,358 22,350
Foreign exchange differences 533,677 217,385

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 646,079 301,576
Prior period adjustment - (90 )
Total current tax 646,079 301,486

Deferred tax 16,438 (9,102 )
Tax on profit 662,517 292,384

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
Profit before tax 2,682,051 1,083,075
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

670,513

270,769

Effects of:
Expenses not deductible for tax purposes 310 22,649
Depreciation in excess of capital allowances (78 ) (1,353 )
Profit on disposal of fixed assets (1,847 ) (10,500 )
Deferred tax 16,438 29,878
Prior year adjustment (22,819 ) (90 )
Effective current year and standard tax rate difference - (18,969 )
Total tax charge 662,517 292,384

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


7. DIVIDENDS
2024 2023
£ £
Ordinary-full rights to voting income and capital return shares of £1 each
Final 3,957,250 -

8. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 January 2024
and 31 December 2024 163,465
AMORTISATION
At 1 January 2024
and 31 December 2024 163,465
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 January 2024 3,955,002 7,893,629 1,131,150 24,589 13,004,370
Additions - 427,081 - - 427,081
Disposals - (12,641 ) - (24,589 ) (37,230 )
At 31 December 2024 3,955,002 8,308,069 1,131,150 - 13,394,221
DEPRECIATION
At 1 January 2024 1,325,842 5,496,109 892,053 24,589 7,738,593
Charge for year 63,470 470,283 20,170 - 553,923
Eliminated on disposal - (10,452 ) - (24,589 ) (35,041 )
At 31 December 2024 1,389,312 5,955,940 912,223 - 8,257,475
NET BOOK VALUE
At 31 December 2024 2,565,690 2,352,129 218,927 - 5,136,746
At 31 December 2023 2,629,160 2,397,520 239,097 - 5,265,777

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


10. STOCKS
2024 2023
£ £
Raw materials - 668
Finished goods 254,300 11,560
254,300 12,228

The replacement cost of stock did not differ significantly from the figures shown.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 3,333,915 3,790,303
Amounts owed by group undertakings 9,094,313 9,228,088
Other debtors 65,405 263,458
Tax - 131,815
VAT 456,628 812,444
Prepayments 170,310 119,922
13,120,571 14,346,030

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 288,705 388,543
Amounts owed to group undertakings 40,595 34,206
Tax 494,938 -
Social security and other taxes 61,598 65,092
Accrued expenses 438,827 405,309
1,324,663 893,150

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 24,517 23,856

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 487,924 492,435
Between one and five years 1,611,071 1,683,417
In more than five years 1,276,500 1,613,888
3,375,495 3,789,740

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


15. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 534,195 517,757

Deferred tax
£
Balance at 1 January 2024 517,757
Charge to income 16,438
Balance at 31 December 2024 534,195

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100,000 Ordinary-full rights to voting
income and capital return £1 100,000 100,000

17. RESERVES
Retained
earnings
£

At 1 January 2024 20,718,205
Profit for the year 2,019,534
Dividends (3,957,250 )
At 31 December 2024 18,780,489

18. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pensions costs amounted to £153,584 (2023 - £113,533) and the amount of contributions outstanding and due at the year end amounted to £24,517 (2023 - £23,856).

BASILDON CHEMICAL CO. LIMITED (REGISTERED NUMBER: 01016104)

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


19. RELATED PARTY DISCLOSURES

During the year the company entered into the following trading transactions with other related parties:



Remuneration
Sales & Royalty
income
Purchases &
expenses

BalanceDr/(Cr)
£ £ £ £


Key Management
remuneration

110,507

-

-

-

Momentive Group
companies

-

-

16,824,613

-2,221,623


During the year, dividends were paid to the parent group company of £3,957,250

Income, purchases and expenses transacted with related parties were undertaken in the normal course of business with outstanding balances repayable on normal commercial terms.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is KCC Corporation.

In January 2021 the whole of the share capital was purchased by Momentive Performance Materials Holdings UK Limited, a company incorporated in the United Kingdom (Company number 13035356).

Through the Momentive company ownership structure the company is ultimately owned by the KCC Corporation based in South Korea who now own a 60% controlling shareholding.Before this disposal took place they owned 100%.