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REGISTERED NUMBER: 08702445 (England and Wales)










Financial Statements

for the Year Ended 31 December 2024

for

Jennings Anodes UK Limited

Jennings Anodes UK Limited (Registered number: 08702445)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Jennings Anodes UK Limited (Registered number: 08702445)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 129,318 36,043

CURRENT ASSETS
Stocks 357,234 249,690
Debtors 5 269,039 390,738
Cash at bank 382,080 171,079
1,008,353 811,507
CREDITORS
Amounts falling due within one year 6 742,017 530,223
NET CURRENT ASSETS 266,336 281,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,654

317,327

PROVISIONS FOR LIABILITIES 11,885 9,012
NET ASSETS 383,769 308,315

CAPITAL AND RESERVES
Called up share capital 222 222
Share premium 152,550 152,550
Retained earnings 230,997 155,543
SHAREHOLDERS' FUNDS 383,769 308,315

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





C D Jennings - Director


Jennings Anodes UK Limited (Registered number: 08702445)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Jennings Anodes UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08702445

Registered office: Tatham Street
Sunderland
Tyne and Wear
SR1 2AG

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions regarding the carrying amounts of the company's assets and liabilities. These are based on historical experience and other factors that are considered relevant. They are reviewed on a regular basis and changes recognised in the the period in which the estimate is revised. Actual results may differ from these estimates.

The following are the critical accounting judgements and key sources of estimation uncertainty:

Tangible fixed assets are depreciated over their useful economic lives taking into account their residual values where appropriate. The acute lives of the assets and residual values are assessed annually and may vary depending on a number of factors. IN re-assessing the asset lives, factors such as technical innovation, product life cycles and maintainable programmes are taking into account. Residual values consider such things as future market condition, the remaining life of the asset and projected disposal values.

The value of stock is assessed for impairment. In assessing stock value, factors such as slow movement and obsolescence are taken into account.

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

Jennings Anodes UK Limited (Registered number: 08702445)

Notes to the 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.
Plant and machinery etc - 25% on cost, 20% on cost and in accordance with the property lease.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Jennings Anodes UK Limited (Registered number: 08702445)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

Financial assets and liabilities
Short term debtors are measured at transaction price.

Short term creditors are measured at transaction price, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 - 99,173 6,561 8,774 114,508
Additions 129,984 2,500 191 - 132,675
At 31 December 2024 129,984 101,673 6,752 8,774 247,183
DEPRECIATION
At 1 January 2024 - 69,820 2,860 5,785 78,465
Charge for year 25,996 11,544 1,102 758 39,400
At 31 December 2024 25,996 81,364 3,962 6,543 117,865
NET BOOK VALUE
At 31 December 2024 103,988 20,309 2,790 2,231 129,318
At 31 December 2023 - 29,353 3,701 2,989 36,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 171,573 335,930
Amounts owed by group undertakings 42,146 1,485
Other debtors 55,320 53,323
269,039 390,738

Jennings Anodes UK Limited (Registered number: 08702445)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 69,528 107,766
Amounts owed to group undertakings 627,732 378,804
Taxation and social security 6,134 12,271
Other creditors 38,623 31,382
742,017 530,223

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Callum Edwards ACA (Senior Statutory Auditor)
for and on behalf of Bourne & Co

8. OFF-BALANCE SHEET ARRANGEMENTS

The company's bankers hold a fixed and floating charge covering all the property or undertaking of the company.

9. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking and controlling part at the balance sheet date was Zhejiang Yuxi Corrosion Control Corporation, a company incorporated in The People's Republic of China. The group financial statements are publicly available from Zhejiang Yuxi Corrosion Control Corporation. The register office of Zhejiang Yuxi Corrosion Control Corporation is 767 Liangzhu, Ningbo, 315100, P.R. China.