IRIS Accounts Production v25.1.0.734 13035356 Board of Directors 31.12.24 1.1.24 31.12.24 31.12.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. The group's principal activity during the year continued to be the production and formulation of silicones for industry.Momentive Performance Holdings UK Limited is a group holding company owning shares in a subsidiary. ++ At this time the company owns all of the ordinary share capital of Basildon Chemical Co. Limited. true true false true true false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh130353562023-12-31130353562024-12-31130353562024-01-012024-12-31130353562022-12-31130353562023-01-012023-12-31130353562023-12-3113035356ns15:EnglandWales2024-01-012024-12-3113035356ns14:PoundSterling2024-01-012024-12-3113035356ns10:Director12024-01-012024-12-3113035356ns10:Consolidated2024-12-3113035356ns10:ConsolidatedGroupCompanyAccounts2024-01-012024-12-3113035356ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3113035356ns10:Consolidatedns10:MediumEntities2024-01-012024-12-3113035356ns10:Consolidatedns10:Audited2024-01-012024-12-3113035356ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3113035356ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3113035356ns10:Consolidated2024-01-012024-12-3113035356ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3113035356ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3113035356ns10:FullAccounts2024-01-012024-12-311303535612024-01-012024-12-3113035356ns10:OrdinaryShareClass12024-01-012024-12-3113035356ns10:Director22024-01-012024-12-3113035356ns10:RegisteredOffice2024-01-012024-12-3113035356ns10:Consolidated2023-01-012023-12-3113035356ns5:CurrentFinancialInstruments2024-12-3113035356ns5:CurrentFinancialInstruments2023-12-3113035356ns5:Non-currentFinancialInstruments2024-12-3113035356ns5:Non-currentFinancialInstruments2023-12-3113035356ns5:ShareCapital2024-12-3113035356ns5:ShareCapital2023-12-3113035356ns5:RetainedEarningsAccumulatedLosses2024-12-3113035356ns5:RetainedEarningsAccumulatedLosses2023-12-3113035356ns5:ShareCapital2022-12-3113035356ns5:RetainedEarningsAccumulatedLosses2022-12-3113035356ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3113035356ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3113035356ns5:NetGoodwill2024-01-012024-12-3113035356ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3113035356ns5:PatentsTrademarksLicencesConcessionsSimilar2024-01-012024-12-3113035356ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-012024-12-3113035356ns5:ComputerSoftware2024-01-012024-12-3113035356ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-012024-12-3113035356ns5:FurnitureFittings2024-01-012024-12-3113035356ns5:MotorVehicles2024-01-012024-12-3113035356ns10:OrdinaryShareClass12024-12-3113035356ns5:RetainedEarningsAccumulatedLosses2023-12-31
REGISTERED NUMBER: 13035356 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Bering
D N Degville





REGISTERED OFFICE: 5 Cranfield Road
Lostock Industrial Estate
Lostock
Bolton
Lancashire
BL6 4QD





REGISTERED NUMBER: 13035356 (England and Wales)





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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The group'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.

Momentive Performance Holdings UK Limited is a group holding company owning shares in a subsidiary and at this time, the company owns all of the shares in Basildon Chemical Co. Limited.

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.

On 6 January 2021 KCC Corp sold its Silicone division, including 100% of the shares in Basildon Chemical Co. Limited to MPM Holdings Inc. Subsequently the company was acquired by Momentive Performance Materials Holdings UK Limited.

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.

The results for the 12 months and the financial position of the company and its subsidiary are shown in the financial statements. The results reflect the factors described above.

The subsidiary 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 31 December 2024 and comparative years of the group can be 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



MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


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

DIVIDENDS
Dividends of £3,957,250 were paid from the subsidiary Basildon Chemicals ltd to the parent company MPM holdings during the year.

The group made dividend distributions to it's shareholders totalling £3,506,310.

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

P Bering
D N Degville

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 Group 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). 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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
MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED


Opinion
We have audited the financial statements of Momentive Performance Materials Holdings UK Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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 Group 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED


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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED


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.

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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £ £

TURNOVER 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 2,953,754 3,581,237
3,299,210 3,855,860
1,524,198 147

Other operating income (452,727 ) (69,273 )
OPERATING PROFIT/(LOSS) 4 1,071,471 (69,126 )

Interest receivable and similar income 492,634 99,097
1,564,105 29,971

Interest payable and similar expenses 5 459,834 440,081
PROFIT/(LOSS) BEFORE TAXATION 1,104,271 (410,110 )

Tax on profit/(loss) 6 662,517 292,384
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

441,754

(702,494

)
Profit/(loss) attributable to:
Owners of the parent 441,754 (702,494 )

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £

PROFIT/(LOSS) FOR THE YEAR 441,754 (702,494 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

441,754

(702,494

)

Total comprehensive income attributable to:
Owners of the parent 441,754 (702,494 )

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 9 6,285,283 7,332,830
Tangible assets 10 5,136,746 5,265,777
Investments 11 - -
11,422,029 12,598,607

CURRENT ASSETS
Stocks 12 254,300 12,228
Debtors 13 13,120,571 14,346,030
Cash at bank and in hand 2,335,158 2,787,287
15,710,029 17,145,545
CREDITORS
Amounts falling due within one year 14 1,334,264 898,651
NET CURRENT ASSETS 14,375,765 16,246,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,797,794

28,845,501

CREDITORS
Amounts falling due after more than one
year

15

(10,301,257

)

(10,300,846

)

PROVISIONS FOR LIABILITIES 18 (534,195 ) (517,757 )
NET ASSETS 14,962,342 18,026,898

CAPITAL AND RESERVES
Called up share capital 19 14,154,420 14,154,420
Retained earnings 20 807,922 3,872,478
SHAREHOLDERS' FUNDS 14,962,342 18,026,898

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


MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

COMPANY BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 28,450,384 28,450,384
28,450,384 28,450,384

CURRENT ASSETS
Cash at bank 82,911 158,354

CREDITORS
Amounts falling due within one year 14 9,600 5,500
NET CURRENT ASSETS 73,311 152,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,523,695

28,603,238

CREDITORS
Amounts falling due after more than one
year

15

10,276,740

10,276,990
NET ASSETS 18,246,955 18,326,248

CAPITAL AND RESERVES
Called up share capital 19 14,154,420 14,154,420
Retained earnings 20 4,092,535 4,171,828
SHAREHOLDERS' FUNDS 18,246,955 18,326,248

Company's profit/(loss) for the financial
year

3,427,017

(445,636

)

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


MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

CONSOLIDATED 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 14,154,420 4,574,972 18,729,392

Changes in equity
Total comprehensive income - (702,494 ) (702,494 )
Balance at 31 December 2023 14,154,420 3,872,478 18,026,898

Changes in equity
Dividends - (3,506,310 ) (3,506,310 )
Total comprehensive income - 441,754 441,754
Balance at 31 December 2024 14,154,420 807,922 14,962,342

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

COMPANY 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 14,154,420 4,617,464 18,771,884

Changes in equity
Total comprehensive income - (445,636 ) (445,636 )
Balance at 31 December 2023 14,154,420 4,171,828 18,326,248

Changes in equity
Dividends - (3,506,310 ) (3,506,310 )
Total comprehensive income - 3,427,017 3,427,017
Balance at 31 December 2024 14,154,420 4,092,535 18,246,955

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 3,458,205 11,125,081
Interest paid (459,834 ) (440,081 )
Tax paid (19,326 ) (792,769 )
Net cash from operating activities 2,979,045 9,892,231

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 492,634 99,097
Net cash from investing activities 75,136 (51,855 )

Cash flows from financing activities
Increase in group & associated debtors - (8,327,276 )
Decrease in group & associated creditors - (2,161,969 )
Equity dividends paid (3,506,310 ) -
Net cash from financing activities (3,506,310 ) (10,489,245 )

Decrease in cash and cash equivalents (452,129 ) (648,869 )
Cash and cash equivalents at
beginning of year

2

2,787,287

3,436,156

Cash and cash equivalents at end of
year

2

2,335,158

2,787,287

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£ £
Profit/(loss) before taxation 1,104,271 (410,110 )
Depreciation charges 1,601,470 1,629,828
(Profit)/loss on disposal of fixed assets (7,394 ) 26,379
Other 139,914 -
Finance costs 459,834 440,081
Finance income (492,634 ) (99,097 )
2,805,461 1,587,081
(Increase)/decrease in stocks (242,072 ) 9,331,678
Decrease in trade and other debtors 959,869 667,181
Decrease in trade and other creditors (65,053 ) (460,859 )
Cash generated from operations 3,458,205 11,125,081

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£ £
Cash and cash equivalents 2,335,158 2,787,287
Year ended 31 December 2023
31.12.23 1.1.23
£ £
Cash and cash equivalents 2,787,287 3,436,156


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 2,787,287 (452,129 ) 2,335,158
2,787,287 (452,129 ) 2,335,158
Total 2,787,287 (452,129 ) 2,335,158

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


1. STATUTORY INFORMATION

Momentive Performance Materials Holdings UK 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These consolidated 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. On the basis of these assessments, the measures available to mitigate the impact of the current adverse economic conditions and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Basis of consolidation
These are group consolidated accounts. The consolidation has been undertaken using the aquisition method.

Investments in subsidiary's
Investments made in subsidiary companies are shown at cost.

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
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 is 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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2019 and 2021, is being amortised evenly over their estimated useful lives of ten years. The personal trade acquired in 2019 was sold to a third party 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.

Patents and licences have been fully amortised in the current year.

Development costs have been fully amortised in the current year.

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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
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 years and Straight line over 8 years
Motor vehicles - 25% on cost

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.

Financial instruments
The company has basic financial instruments comprising cash & cash equivalents such as cash at bank and in hand along with short term debtors and creditors. Cash & cash equivalents are recorded at transaction price including any related transaction costs.

Debtors and creditors are recorded initially at transaction price including transaction costs and subsequently measured at the expected settlement amount less any allowances for non payment..

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 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.

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 group operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the group. Annual contributions payable to the pension scheme are charged to the profit & loss account in the period to which they relate.

3. 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 and Admin 28 30
Manufacturing 30 25
58 55

The average number of employees by undertakings that were proportionately consolidated during the year was 58 (2023 - 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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) 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
Goodwill amortisation 1,047,547 1,047,548
Computer software amortisation - 31,693
Auditors' remuneration 26,862 24,550
Foreign exchange differences 533,677 217,591

5. INTEREST PAYABLE AND SIMILAR EXPENSES

2024 2023
£ £
Interest on loan from parent
company


459,834


440,081

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/(loss) 662,517 292,384

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


6. TAXATION - continued

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

2024 2023
£ £
Profit/(loss) before tax 1,104,271 (410,110 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25 % (2023 - 25 %)

276,068

(102,528

)

Effects of:
Expenses not deductible for tax purposes 310 22,649
Capital allowances in excess of depreciation (77 ) (1,353 )
Adjustments to tax charge in respect of previous periods (22,819 ) (90 )
Loss/profit on disposal of fixed assets (1,848 ) (10,500 )
Consolidation adjustments 394,445 373,297
Deferred tax 16,438 29,878
Effective current year and standard tax rate difference - (18,969 )
Total tax charge 662,517 292,384

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS

Dividends of £3,957,250 were paid from the subsidiary Basildon Chemicals ltd to the parent company Momentive performance materials holdings UK during the year.

The group made dividend distributions to it's shareholders totalling £3,506,310.

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


9. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£ £ £
COST
At 1 January 2024
and 31 December 2024 10,475,472 163,465 10,638,937
AMORTISATION
At 1 January 2024 3,142,642 163,465 3,306,107
Amortisation for year 1,047,547 - 1,047,547
At 31 December 2024 4,190,189 163,465 4,353,654
NET BOOK VALUE
At 31 December 2024 6,285,283 - 6,285,283
At 31 December 2023 7,332,830 - 7,332,830

10. TANGIBLE FIXED ASSETS

Group
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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


11. FIXED ASSET INVESTMENTS


COST £
As at 31 December 2024 and 2023 28,450,384
The company's investments at the Statement of Financial Position date in the share capital of companies include the following investment in Basildon Chemical Co. Limited.

Registered office: Kimber Road , Abingdon , Oxford , OX14 1RZ .

Nature of business: Production and distribution of Industrial silicones.

Shares owned: 100% of the 100,000 Ordinary £1 shares in issued owned with full rights to income, voting and return of capital.
£
Aggregated capital and reserves as at 31 December 2024 19,051,269

12. STOCKS

Group
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

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
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

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Trade creditors 288,706 388,544 - -
Amounts owed to group undertakings 40,595 34,206 - -
Tax 494,938 - - -
Social security and other taxes 61,598 65,092 - -
Accrued expenses 448,427 410,809 9,600 5,500
1,334,264 898,651 9,600 5,500

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Amounts owed to group undertakings 10,276,740 10,276,990 10,276,740 10,276,990
Other creditors 24,517 23,856 - -
10,301,257 10,300,846 10,276,740 10,276,990

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
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

17. FINANCIAL INSTRUMENTS

The amount owed to group undertakings is an amount owed under an unsecured Promisory note in favour of Momentive Performance Materials Inc. The full amount is repayable on or before 6 January 2029 and interest accrues at an annual rate of 4.5%.

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


18. PROVISIONS FOR LIABILITIES

£   

Deferred tax provision as at 1 January 2024 517,757

Charged to income 16,438

Deferred tax provision as at 31 December 2024 534,195
The company made no provision for deferred tax: the provision relates to the subsidiary company.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
14,154,520 Ordinary £1 14,154,420 14,154,420

Shares in issue are £1 ordinary with full rights to vote, to income and return of capital.

20. RESERVES

Group
Retained
earnings
£

At 1 January 2024 3,872,478
Profit for the year 441,754
Dividends (3,506,310 )
At 31 December 2024 807,922

Company
Retained
earnings
£

At 1 January 2024 4,171,828
Profit for the year 3,427,017
Dividends (3,506,310 )
At 31 December 2024 4,092,535


21. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group 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).

MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS UK LIMITED (REGISTERED NUMBER: 13035356)

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


22. ULTIMATE PARENT COMPANY

KCC Corporation (incorporated in South Korea. ) is regarded by the directors as being the company's ultimate parent company.

The immediate parent company that owns all of the shares in Momentive Materials Holdings Uk Limited is Momentive Performance Materials Inc.incorporated in the USA.

23. RELATED PARTY DISCLOSURES

During the year the subsidiary 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 by the subsidiary to Momentive Performance Holdings UK Limited totalling £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.


During the year the parent company had a loan arrangement with its parent company Momentive Performance Materials Inc.as follows

£
Amount owing as at 31 December 2024 10,276,740

Interest paid on the loan during the year at 4.5% 459,834