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REGISTERED NUMBER: 04334528 (England and Wales)
























STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHEMFIX PRODUCTS LIMITED

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

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

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


CHEMFIX PRODUCTS LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2024







DIRECTORS: J Juher
C Palomo Reixach
X Sague





SECRETARY: X Sague





REGISTERED OFFICE: Mill Street East
Dewsbury
West Yorkshire
WF12 9BQ





REGISTERED NUMBER: 04334528 (England and Wales)





INDEPENDENT AUDITORS: TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

STRATEGIC REPORT
For The Year Ended 31 December 2024


The Directors present their strategic report for Chemfix Products Ltd for the year ended 31st December 2024.

The company manufactures and sells chemical anchors, building adhesives, and wood repair products to the professional and DIY markets around the world.

BUSINESS REVIEW
Revenue decreased from £27,602,135 in 2023 to £26,546,388 in 2024. A sales revenue decrease of 3.8% was mainly due to decreased revenue in the UK and some European markets.

Overall profitability decreased from £2,490,988 to £1,806,910 and the gross margin decreased slightly from 29% to 28.9% in 2024 illustrating a difficult year where inflationary increases in raw material prices and unfavorable exchange rate movements have impacted the Company profits in 2024.

The Company has managed its working capital efficiently, having sufficient funds to meet short-term obligations with creditors and finance capital expenditure to improve its factory infrastructure to facilitate efficient manufacturing operations.

Profits generated from this year's trading have strengthened the company's ability to invest and pursue further market growth.

PRINCIPAL RISKS AND UNCERTAINTIES FACING THE BUSINESS
The Management Team continually monitors the key risks facing the Company and introduces controls to manage these risks.

The principal risks and uncertainties facing the Company are:

1. The current global uncertainty due to the introduction of import tariffs in the USA which could lead to inflation in raw materials and a global economic recession which would have an important impact on the companies' sales.

2. The adverse situation of the construction industry facing a complex landscape of skill shortages and evolving regulatory environments in some of our markets.

FINANCIAL POSITION AT THE REPORTING DATE
The Company's net assets increased from £8,961,237 to £9,350,199 in 2024 and the Company's finances are in a strong position.

FINANCIAL KEY PERFORMANCE INDICATORS
Management uses a range of performance measures to monitor and manage the business. The performance measures used are set out below.

2024 2023


Gross profit margin 28.9% 29.0%
Net profit margin 9.6% 9.0%
Return on Capital Employed 25.8% 36.6%


CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

STRATEGIC REPORT
For The Year Ended 31 December 2024

FUTURE DEVELOPMENTS
The company intends to achieve its objectives by continuing to support its customers with high quality products and great customer service.

The Company will keep investing in the improvement of the manufacturing plant efficiency and capacity, as well as in R&D and product technical certificates, to deliver better and more sustainable products into the market.

ON BEHALF OF THE BOARD:





C Palomo Reixach - Director


19 May 2025

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

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.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture and sale of chemical anchors, building adhesives and wood repair products to the professional and DIY markets around the world.

DIVIDENDS
A dividend of £1,417,948 (2023: £1,039,922) was proposed during the year. £Nil (2023: £Nil) remains unpaid at the year end.

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

J Juher
C Palomo Reixach
X Sague

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.

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

REPORT OF THE DIRECTORS
For The Year Ended 31 December 2024


AUDITORS
The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



C Palomo Reixach - Director


19 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHEMFIX PRODUCTS LIMITED


Opinion
We have audited the financial statements of Chemfix Products Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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
CHEMFIX PRODUCTS 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:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.


We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the
company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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
CHEMFIX PRODUCTS 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.




Dilun Mistry FCA (Senior Statutory Auditor)
for and on behalf of TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

19 May 2025

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

STATEMENT OF COMPREHENSIVE
INCOME
For The Year Ended 31 December 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 26,546,388 27,602,135

Cost of sales 18,887,322 19,540,719
GROSS PROFIT 7,659,066 8,061,416

Distribution costs 829,401 895,060
Administrative expenses 4,492,640 3,944,152
5,322,041 4,839,212
2,337,025 3,222,204

Other operating income 73,808 58,114
OPERATING PROFIT 5 2,410,833 3,280,318

Interest receivable and similar income - 964
2,410,833 3,281,282

Interest payable and similar expenses 7 - 699
PROFIT BEFORE TAXATION 2,410,833 3,280,583

Tax on profit 8 603,923 789,595
PROFIT FOR THE FINANCIAL YEAR 1,806,910 2,490,988

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,806,910

2,490,988

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 598,511 651,215
Tangible assets 11 3,191,446 2,954,560
3,789,957 3,605,775

CURRENT ASSETS
Stocks 12 2,083,238 2,147,318
Debtors 13 5,124,393 4,945,240
Cash at bank and in hand 2,396,417 1,961,088
9,604,048 9,053,646
CREDITORS
Amounts falling due within one year 14 3,440,424 3,165,388
NET CURRENT ASSETS 6,163,624 5,888,258
TOTAL ASSETS LESS CURRENT LIABILITIES 9,953,581 9,494,033

PROVISIONS FOR LIABILITIES 16 603,382 532,796
NET ASSETS 9,350,199 8,961,237

CAPITAL AND RESERVES
Called up share capital 17 1,500,002 1,500,002
Retained earnings 18 7,850,197 7,461,235
SHAREHOLDERS' FUNDS 9,350,199 8,961,237

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





C Palomo Reixach - Director


CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

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 1,500,002 6,010,169 7,510,171

Changes in equity
Profit for the year - 2,490,988 2,490,988
Total comprehensive income - 2,490,988 2,490,988
Dividends - (1,039,922 ) (1,039,922 )
Balance at 31 December 2023 1,500,002 7,461,235 8,961,237

Changes in equity
Profit for the year - 1,806,910 1,806,910
Total comprehensive income - 1,806,910 1,806,910
Dividends - (1,417,948 ) (1,417,948 )
Balance at 31 December 2024 1,500,002 7,850,197 9,350,199

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024


1. STATUTORY INFORMATION

Chemfix Products 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 company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Stock
The provision for slow moving stock items is sensitive to changes in the estimated economic utilisation and the physical condition of the stock. The stock provision is reassessed annually. It is amended when necessary to reflect current estimates, based on technological advancement, future production demand, economic utilisation and the physical condition of the stock.

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 a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Goodwill is stated at cost less any accumulated amortisation and accumulated impairment losses. Goodwill is amortised through the profit and loss account in equal instalments over its estimated useful life of 10 years. Each acquisition is considered separately in determining the useful economic life of the related goodwill. The carrying value of goodwill is reviewed for impairment at the end of the first full year following acquisition and in other periods if events or changes in circumstances indicate the carrying value may not be recoverable.

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Negative goodwill
Negative goodwill arising on business combinations in respect of acquisitions is included on the balance sheet immediately below any positive goodwill and released to the profit and loss account in the periods in which the non-monetary assets arising on the same acquisition are recovered. Any excess exceeding the fair value of non-monetary assets acquired shall be recognised in profit or loss in the periods expected to benefit. Negative goodwill is amortised in equal instalments over the average remaining lives of the assets purchased, which is between 4 and 20 years.

Development cost
Development costs in relation to ETA's acquired by the Company are stated at cost less accumulated amortisation and less accumulated impairment losses. These are amortised in equal instalments over the useful economic lives of the ETA's which on average is 6.5 years.

Other intangible assets
Expenditure on internally generated goodwill and brands is recognised in the profit and loss account as an expense as incurred.

Other intangible assets that are acquired by the Company are stated at cost less accumulated amortisation and less accumulated impairment losses. These are amortised in equal instalments over the useful economic lives of the assets, which is 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 5% on cost
Plant and machinery - 33.33% on reducing balance
Fixtures and fittings - 30% on reducing balance
Motor vehicles - 2% on reducing balance

Freehold land is not depreciated.

The company assesses at each reporting date whether tangible fixed assets are impaired.

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

Basic financial instruments
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

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 balance sheet date.


CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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.

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

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.

Going concern
As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

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 4,609,058 4,173,045
Europe 16,269,322 19,150,192
Rest of the world 5,668,008 4,278,898
26,546,388 27,602,135

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,140,503 2,871,751
Social security costs 657,759 637,709
Other pension costs 237,012 202,570
4,035,274 3,712,030

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


4. EMPLOYEES AND DIRECTORS - continued

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

Directors 5 5
Technicians 9 10
Representatives 2 2
Other 79 77
95 94

2024 2023
£    £   
Directors' remuneration 293,145 269,334

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

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 293,145 263,164

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 20,063 22,755
Other operating leases 74,188 64,781
Depreciation - owned assets 404,722 350,719
Development costs amortisation 218,817 230,146
Computer software amortisation 3,332 4,018
Foreign exchange differences 220,756 88,897

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

15,000

13,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest - 699

Interest payable and similar charges includes interest payable and similar on bank loans and overdrafts of £ nil (2023: £699). Of the above amount £nil (2023: nil) was payable to group undertakings.

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


8. 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 534,286 735,043
Adjustment in respect of prior
period (949 ) (881 )
Total current tax 533,337 734,162

Deferred tax 70,586 55,433
Tax on profit 603,923 789,595

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 before tax 2,410,833 3,280,583
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.500%)

602,708

770,937

Effects of:
Expenses not deductible for tax purposes 2,159 1,958
Adjustments to tax charge in respect of previous periods (949 ) (881 )
R&D expenditure credits - 13,669
Movement in deferred tax not recognised 4 1,166
Remeasurement of deferred tax for changes in tax rates - 3,212
Other 1 (466 )
Total tax charge 603,923 789,595

From 1st April 2023 the corporation tax main rate increased from 19% to 25% for companies with profits over £250,000. The small company rate remains at 19% for taxable profits under £50,000. For profits falling between £50,000 and £250,000 marginal relief is applied. Deferred tax has therefore been calculated a 25%.

Therefore the effective rate for the year ended 31 December 2024 was 25%.

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Final 1,417,948 1,039,922

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


10. INTANGIBLE FIXED ASSETS
Negative Development Computer
Goodwill goodwill costs software Totals
£    £    £    £    £   
COST
At 1 January 2024 866,975 (150,174 ) 1,483,676 96,696 2,297,173
Additions - - 169,445 - 169,445
At 31 December 2024 866,975 (150,174 ) 1,653,121 96,696 2,466,618
AMORTISATION
At 1 January 2024 866,975 (150,174 ) 837,133 92,024 1,645,958
Amortisation for year - - 218,817 3,332 222,149
At 31 December 2024 866,975 (150,174 ) 1,055,950 95,356 1,868,107
NET BOOK VALUE
At 31 December 2024 - - 597,171 1,340 598,511
At 31 December 2023 - - 646,543 4,672 651,215

11. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 1,424,353 4,402,857 509,711
Additions 2,724 305,340 35,811
At 31 December 2024 1,427,077 4,708,197 545,522
DEPRECIATION
At 1 January 2024 502,449 2,581,643 368,879
Charge for year 35,905 332,033 34,041
At 31 December 2024 538,354 2,913,676 402,920
NET BOOK VALUE
At 31 December 2024 888,723 1,794,521 142,602
At 31 December 2023 921,904 1,821,214 140,832

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


11. TANGIBLE FIXED ASSETS - continued

Assets
Motor under
vehicles construction Totals
£    £    £   
COST
At 1 January 2024 98,478 69,010 6,504,409
Additions 16,192 281,541 641,608
At 31 December 2024 114,670 350,551 7,146,017
DEPRECIATION
At 1 January 2024 96,878 - 3,549,849
Charge for year 2,743 - 404,722
At 31 December 2024 99,621 - 3,954,571
NET BOOK VALUE
At 31 December 2024 15,049 350,551 3,191,446
At 31 December 2023 1,600 69,010 2,954,560

Included in cost of land and buildings is freehold land of £ 398,000 (2023 - £ 398,000 ) which is not depreciated.

12. STOCKS
2024 2023
£    £   
Stock 2,248,163 2,369,603
Stock provision (164,925 ) (222,285 )
2,083,238 2,147,318

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,077,698 3,872,164
Amounts owed by associates 391,453 588,188
Other debtors 540 28,398
Tax 386,542 135,089
VAT 193,608 257,845
Prepayments and accrued income 74,552 63,556
5,124,393 4,945,240

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,134,078 2,086,904
Amounts owed to group undertakings 363,397 408,191
Social security and other taxes 83,618 80,885
Other creditors 733,170 570,022
Accruals and deferred income 126,161 19,386
3,440,424 3,165,388

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 74,509 51,524
Between one and five years 71,405 49,642
145,914 101,166

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 603,382 532,796

Deferred
tax
£   
Balance at 1 January 2024 532,796
Charge to Statement of Comprehensive Income during year 70,586
Balance at 31 December 2024 603,382

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,500,002 Ordinary £1 1,500,002 1,500,002

18. RESERVES
Retained
earnings
£   

At 1 January 2024 7,461,235
Profit for the year 1,806,910
Dividends (1,417,948 )
At 31 December 2024 7,850,197

CHEMFIX PRODUCTS LIMITED (REGISTERED NUMBER: 04334528)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


19. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £237,012 (2023: £202,570). As the year end included within creditors due within one year were amounts payable to the fund amounting to £33,600 (2023: £29,162).

20. ULTIMATE PARENT COMPANY

Briolf Group SL (incorporated in Spain ) is regarded by the directors as being the company's ultimate parent company.

21. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 385,773 -

22. RELATED PARTY DISCLOSURES

As 100% of the company's voting rights are controlled by Briolf Group SL, the company has taken advantage of the exemption contained in FRS102.33.1A and has therefore not disclosed transactions or balances with entities which form part of that group.

Transactions with group entities that are not wholly owned are as follows:

During the year Chemfix Products Limited made purchases amounting to £86,378 (2023: £nil) in the year. Sales to this company amounted to £77,621 in the year (2023: £104,510). At the year end a net balance of £655 was due to the group company.

The consolidated financial statements of Briolf Group SL can be obtained from their registered address of Carretera N-11 KM 706,5, 17457 Riudellots de la selva, Girona, Spain.

The directors are deemed to be the only key management personnel, remuneration is disclosed in note 4.