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Company No: 01043567 (England and Wales)

CERIUM GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CERIUM GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CERIUM GROUP LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
CERIUM GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Mr M J Carter
Mr P F Greenfield
Mr J A G Sangster
Mr N Sangster
SECRETARY Mr J A G Sangster
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 01043567 (England and Wales)
ACCOUNTANT GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
CERIUM GROUP LIMITED

BALANCE SHEET

As at 31 December 2024
CERIUM GROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 941,894 1,060,191
941,894 1,060,191
Current assets
Stocks 1,302,843 1,133,773
Debtors 4 4,100,631 3,366,486
Cash at bank and in hand 293,892 527,779
5,697,366 5,028,038
Creditors: amounts falling due within one year 5 ( 2,414,725) ( 1,918,699)
Net current assets 3,282,641 3,109,339
Total assets less current liabilities 4,224,535 4,169,530
Creditors: amounts falling due after more than one year 6 ( 408,275) ( 674,623)
Provision for liabilities ( 76,106) 23,347
Net assets 3,740,154 3,518,254
Capital and reserves
Called-up share capital 7 136,052 136,052
Profit and loss account 3,604,102 3,382,202
Total shareholders' funds 3,740,154 3,518,254

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cerium Group Limited (registered number: 01043567) were approved and authorised for issue by the Board of Directors on 23 July 2025. They were signed on its behalf by:

Mr M J Carter
Director
CERIUM GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CERIUM GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cerium Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 33

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2024 515,494 1,637,978 87,570 480,737 2,721,779
Additions 0 2,087 0 4,974 7,061
At 31 December 2024 515,494 1,640,065 87,570 485,711 2,728,840
Accumulated depreciation
At 01 January 2024 42,563 1,269,723 18,682 330,620 1,661,588
Charge for the financial year 7,085 73,928 13,777 30,568 125,358
At 31 December 2024 49,648 1,343,651 32,459 361,188 1,786,946
Net book value
At 31 December 2024 465,846 296,414 55,111 124,523 941,894
At 31 December 2023 472,931 368,255 68,888 150,117 1,060,191

4. Debtors

2024 2023
£ £
Trade debtors 1,430,629 1,181,530
Corporation tax 179,490 168,916
Other debtors 2,490,512 2,016,040
4,100,631 3,366,486

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 925,388 1,118,226
Trade creditors 1,262,576 603,820
Taxation and social security 46,360 36,000
Obligations under finance leases and hire purchase contracts 55,272 55,272
Other creditors 125,129 105,381
2,414,725 1,918,699

Included in creditors due within one year are bank loans and overdrafts of £80,469 (2023: £85,048) which are secured by various charges over the company's assets.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 294,154 517,782
Obligations under finance leases and hire purchase contracts 114,121 156,841
408,275 674,623

The company has secured creditors under the following charges:
Debenture dated 7 December 2009
Debenture dated 24 March 2020
Debenture dated 16 March 2021

Included in creditors due after one year are bank loans of £223,320 (2023: £346,948) which are secured by various charges over the company's assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 108,850 115,375

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
136,052 Ordinary shares of £ 1.00 each 136,052 136,052

8. Financial commitments

Commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 562,496 682,729

9. Related party transactions

The following amounts were outstanding at the reporting end date:

At the reporting date the directors owed the company £263,293 (2023: £98,428). All amounts are repayable upon demand.

During the reporting period the company:
- incurred commission expenses amounting to £153,190 (2023: £78,829) from; and
- sold goods amounting to £547,067 (2023: £453,624) to
-purchased goods amounting to £700,837 (2023: £712,794) from
a company which is controlled and managed by certain directors.

At the reporting date the company was owed £1,848,107 (2023: £1,910,546). The amounts are interest free and repayable upon demand, but it is unlikely that this will be repayable within one year.

During the reporting period the company incurred commission expenses amounting to £167,826 (2023: £149,565) from another company which is controlled and managed by certain directors. At the reporting date the company was owed £9,769 (2023: £29,638). The amount is interest free and repayable upon demand.

During the reporting period the company incurred commission expenses amounting to £6,602 (2023: £4,800) from another company which is controlled and managed by certain directors.

At the reporting date the company was owed £25,770 (2023: £28,033). The amount is interest free and repayable upon demand.