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Registered number: 02794829










KILLGERM CHEMICALS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
KILLGERM CHEMICALS LIMITED
 

COMPANY INFORMATION


Directors
Mr P. Kitson 
Mr R.B. Broome 
Mrs S.A. Everett 
Mr P. Dalgliesh 




Company secretary
Mrs K.A. Byram



Registered number
02794829



Registered office
Wakefield Road
Ossett

West Yorkshire

WF5 9AJ




Independent auditors
AAB Audit & Accountancy Limited

Gresham House

5-7 St Pauls Street

Leeds

LS1 2JG




Bankers
HSBC UK Bank plc
City Branch

33 Park Row

Leeds

LS1 1LD




Solicitors
Milners Solicitors
Whitehall Waterfront

2 Riverside Way

Leeds

LS1 4EH





 
KILLGERM CHEMICALS LIMITED
 

CONTENTS



Page
Strategic Report
1
Directors' Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Balance Sheet
9
Statement of Changes in Equity
10
Notes to the Financial Statements
11 - 19


 
KILLGERM CHEMICALS LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Business review
 
The principal activity of the company during the year was the manufacture and distribution of public health pest control products, both within the UK and for export.
The operating profit for the year was £0.84m before tax and £0.72m after tax (2023 profit of £0.72m before tax and £0.59m after tax), which the Directors consider as a good performance in the current trading conditions.
    
The company has continued to make significant investments in developing new products and techniques which will ensure that the company is able to meet the requirements of changes in the market brought about by ongoing regulatory changes and environmental pressure to deliver sustainable growth.
In November 2024, the company appointed a new Managing Director to further strengthen the company for the long term.

Position of the company's business at the end of the year

The company is in a sound financial position at the year end, with improved liquidity having increased its net current assets from £2.85m to £3.37m.

Principal risks and uncertainties
 
As for many companies of our size, the business environment in which the company operates continues to be challenging. The risks and uncertainties the company faces include regulatory changes (which are mitigated by maintaining a broad and dynamic product portfolio), currency fluctuations (which are mitigated by operating in multiple currencies and through targeted currency hedging) and the challenges of expanding into new markets.  With these in mind, the Directors are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.  However, the Directors continue to show flexibility and will respond to market conditions and opportunities as they arise. 

Research and development

The company continues an active programme of research and development, the costs of which are written off to the profit and loss account. The directors believe that the success of the company is dependent on the constant review and updating of product lines to satisfy market demands.


This report was approved by the board on 13 June 2025 and signed on its behalf.



Mr R.B. Broome
Director

Page 1

 
KILLGERM CHEMICALS LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements and then apply them consistently;

make judgments 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £717,868 (2023 - £590,282).

Particulars of the recommended dividends are detailed in note 12 of the financial statements.

Directors

The directors who served during the year were:

Mr P. Kitson 
Mr R.B. Broome  
Mrs S.A. Everett  
Mr P. Dalgliesh  

Page 2

 
KILLGERM CHEMICALS LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


Auditors

Each of the persons who is a director at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the company's auditor is unaware;
and
they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information 

AAB Audit & Accountancy Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board on 13 June 2025 and signed on its behalf.
 





Mr P. Kitson
Director

Wakefield Road
Ossett
West Yorkshire
WF5 9AJ

Page 3

 
KILLGERM CHEMICALS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM CHEMICALS LIMITED
 

Opinion


We have audited the financial statements of Killgerm Chemicals Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 United Kingdom, including the Financial Reporting Council'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.


Page 4

 
KILLGERM CHEMICALS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM CHEMICALS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 2, 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 is 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.


Page 5

 
KILLGERM CHEMICALS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM CHEMICALS LIMITED (CONTINUED)


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 an Auditors' Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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 within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. 
The laws and regulations we considered in this context were the Companies Act 2006  and UK Taxation legislation.We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:

Management override of controls to manipulate the company’s key performance indicators to meet targets
Timing of revenue recognition
Management judgement applied in calculating provisions
Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading

Our audit procedures to respond to these risks included:

Testing of journal entries and other adjustments for appropriateness
Evaluating the business rationale of significant transactions outside the normal course of business
Reviewing judgements made by management in their calculation of accounting estimates for potential management bias
Enquiries of management about litigation and claims and inspection of relevant correspondence
Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations
Analytical procedures to identify any unusual or unexpected trends or relationship;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' Report.


Page 6

 
KILLGERM CHEMICALS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM CHEMICALS LIMITED (CONTINUED)


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 2006Our 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 an Auditors' Report 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.





James Hunt BA (Hons) MA FCA CTA (Senior Statutory Auditor)
  
for and on behalf of
AAB Audit & Accountancy Limited
 
Statutory Auditor
  
Gresham House
5-7 St Pauls Street
Leeds
LS1 2JG

13 June 2025
Page 7

 
KILLGERM CHEMICALS LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
24,304,290
22,671,014

Cost of sales
  
(17,346,648)
(16,219,419)

Gross profit
  
6,957,642
6,451,595

Administrative expenses
  
(6,072,744)
(5,667,317)

Operating profit
 5,6 
884,898
784,278

Interest receivable and similar income
 9 
1,741
-

Interest payable and similar expenses
 10 
(48,463)
(68,996)

Profit before tax
  
838,176
715,282

Tax on profit
 11 
(120,308)
(125,000)

Profit for the financial year
  
717,868
590,282

Other comprehensive income for the year
  

Total comprehensive income for the year
  
717,868
590,282

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 11 to 19 form part of these financial statements.
Page 8

 
KILLGERM CHEMICALS LIMITED
REGISTERED NUMBER: 02794829

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 13 
1,694,728
1,572,209

Debtors: amounts falling due within one year
 14 
5,072,857
4,029,806

Cash at bank and in hand
  
3,150
3,150

  
6,770,735
5,605,165

Creditors: amounts falling due within one year
 15 
(3,397,893)
(2,750,191)

Net current assets
  
 
 
3,372,842
 
 
2,854,974

Total assets less current liabilities
  
3,372,842
2,854,974

  

Net assets
  
3,372,842
2,854,974


Capital and reserves
  

Called up share capital 
 16 
2
2

Profit and loss account
 17 
3,372,840
2,854,972

  
3,372,842
2,854,974


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 June 2025.




Mr R.B. Broome
Director

The notes on pages 11 to 19 form part of these financial statements.
Page 9

 
KILLGERM CHEMICALS LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
2
2,464,690
2,464,692


Comprehensive income for the year

Profit for the year
-
590,282
590,282


Contributions by and distributions to owners

Dividends: Equity capital
-
(200,000)
(200,000)



At 1 January 2024
2
2,854,972
2,854,974


Comprehensive income for the year

Profit for the year
-
717,868
717,868


Contributions by and distributions to owners

Dividends: Equity capital
-
(200,000)
(200,000)


At 31 December 2024
2
3,372,840
3,372,842


The notes on pages 11 to 19 form part of these financial statements.

Page 10

 
KILLGERM CHEMICALS LIMITED
 

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

1.


General information

The principal activity of the company during the year was was the manufacture and distribution of public health pest control products, both within the UK and for export.
The company is a private limited company, which is incorporated and registered in England (company number 02794829). The address of the registered office is:
Wakefield Road
Ossett
West Yorkshire
WF5 9AJ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors continually monitor the ongoing financial health of the company and have prepared forward-looking projections for the company for at least 12 months from the sign off date.
Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

  
2.3

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Killgerm Group Limited which can be obtained from the Killgerm Group Limited, Wakefield Road, Ossett, WF5 9AJ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) Disclosures in respect of share-based payments have not been presented.
(e) No disclosure has been given for the aggregate remuneration of key management personnel.

Page 11

 
KILLGERM CHEMICALS LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 12

 
KILLGERM CHEMICALS LIMITED
 

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

2.Accounting policies (continued)

  
2.6

Pension costs

The company participates in the Killgerm Group's pension scheme which provides benefits based on final pensionable pay. The assets of the scheme are held separately from those of the holding company. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees working lives with the company and are determined by a qualified actuary on the basis of triennial valuations using the projected unit method.
Further details can be found in the accounts of Killgerm Group Limited.
The company also contributes to a Money Purchase scheme on behalf of its directors and staff. The charge in the profit and loss account in respect of this scheme is the amount of contributions payable in the accounting period.

 
2.7

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


  
2.11

Stocks

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

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 13

 
KILLGERM CHEMICALS LIMITED
 

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

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgments in applying accounting policies 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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.

Page 14

 
KILLGERM CHEMICALS LIMITED
 

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

4.


Turnover

The whole of the turnover is attributable to the one principal activity of the company.

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
20,234,886
18,885,758

Overseas
4,069,404
3,785,256

24,304,290
22,671,014



5.


Operating profit

The operating profit is stated after charging/crediting:

2024
2023
£
£

Exchange differences
48,299
(144,465)

Impairment of trade debtors
901
6,295


6.


Auditors' remuneration

2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
10,815
10,500
Page 15

 
KILLGERM CHEMICALS LIMITED
 

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

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,343,206
2,243,750

Social security costs
238,795
233,422

Cost of defined contribution scheme
222,102
258,615

2,804,103
2,735,787


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Operations staff
30
31



Admin and management staff
36
37

66
68


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
67,011
64,063



9.


Interest receivable

2024
2023
£
£


Other interest receivable
1,741
-


10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
48,463
68,996

Page 16

 
KILLGERM CHEMICALS LIMITED
 

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

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
125,000
125,000

Adjustments in respect of previous periods
(4,692)
-


120,308
125,000


Total current tax
120,308
125,000

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
838,176
715,282


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
209,544
168,091

Effects of:


Effect of expenses not deductible for tax purposes
4,494
5,918

Utilisation of tax losses
-
(23,671)

Adjustments to tax charge in respect of prior periods
(4,692)
-

Group loss relief claimed
(89,038)
(25,338)

Total tax charge for the year
120,308
125,000


12.


Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

2024
2023
£
£


Dividends on equity shares
200,000
200,000

Page 17

 
KILLGERM CHEMICALS LIMITED
 

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

13.


Stocks

2024
2023
£
£

Raw materials and consumables
1,694,728
1,572,209



14.


Debtors

2024
2023
£
£


Trade debtors
2,162,088
1,902,865

Amounts owed by group undertakings
310,879
241,879

Other debtors
2,513,203
1,537,471

Prepayments and accrued income
86,687
347,591

5,072,857
4,029,806



15.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
96,257
97,962

Trade creditors
1,277,601
1,166,869

Amounts owed to group undertakings
1,217,765
429,224

Corporation tax
85,141
125,000

Other taxation and social security
77,745
79,387

Other creditors
22,964
19,329

Accruals and deferred income
620,420
832,420

3,397,893
2,750,191


HSBC bank borrowings are secured by debentures including a fixed charge over all current and future assets of the company. The bank also has a legal right of set-off incorporated in an unlimited multilateral guarantee with the Holding Company and UK fellow subsidiaries.


16.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares shares of £1.00 each
2
2


Page 18

 
KILLGERM CHEMICALS LIMITED
 

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

17.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.


18.


Contingencies

The company has entered into an unlimited multilateral guarantee with Killgerm Group Limited and Pestwest Electronics Limited in respect of the amounts owing to HSBC Bank plc by those companies.


19.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
110,155
110,230

Later than 1 year and not later than 5 years
67,615
155,011

177,770
265,241


20.


Related party transactions

Advantage has been taken of the exemption under the FRS102 Section 33 'Related Party Disclosure' not to disclose transactions with entities that are part of the Killgerm group or associates and joint ventures of other Killgerm companies, on the grounds that all the voting rights of the company are controlled by Killgerm Group Limited, who will be preparing consolidated accounts.


21.


Controlling party

The ultimate holding company is Killgerm Group Limited, a company registered in England and Wales.
Killgerm Group Limited is under the control of The Trustees of the Killgerm Employee Benefit Trust. Copies of the group accounts of Killgerm Group Limited can be obtained from Killgerm Group Limited, Wakefield Road, Osset, West Yorkshire, WF5 9AJ.

Page 19