Company Registration No. 11328482 (England and Wales)
EXEL CHEMIE UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House, Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW
EXEL CHEMIE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EXEL CHEMIE UK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
659
1,315
Current assets
Debtors
4
1,754,278
1,465,961
Cash at bank and in hand
8,808
95,749
1,763,086
1,561,710
Creditors: amounts falling due within one year
5
(1,473,769)
(1,312,426)
Net current assets
289,317
249,284
Total assets less current liabilities
289,976
250,599
Provisions for liabilities
6
(165)
(329)
Net assets
289,811
250,270
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
10
279,811
240,270
Total equity
289,811
250,270
The directors of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver a copy of the directors' report and profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
Mr N D Desai
Director
Company Registration No. 11328482
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
Exel Chemie UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from sales of goods from supplying dyestuffs and pigments products. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% per annum on straight line basis
1.5
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and trade and other creditors.
Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from the parent undertaking 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.
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including trade and other creditors and other loans 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.
1.6
Taxation
The tax expense represents the sum of the tax and tax currently payable and deferred tax movement.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited to other comprehensive income or directly to equity, in which case the deferred tax is dealt with in the same way as the underlying gain or loss. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
2,623
Depreciation and impairment
At 1 April 2024
1,308
Depreciation charged in the year
656
At 31 March 2025
1,964
Carrying amount
At 31 March 2025
659
At 31 March 2024
1,315
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
701,039
413,925
Amounts owed by group undertakings
1,053,239
1,052,036
1,754,278
1,465,961
Amount due from parent undertaking is interest free.
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
192,344
20,556
Corporation tax
11,883
8,914
Other taxation and social security
8,165
12,391
Other creditors
1,256,677
1,260,524
Accruals and deferred income
4,700
10,041
1,473,769
1,312,426
6
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
7
165
329
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
7
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
165
329
2025
Movements in the year:
£
Liability at 1 April 2024
329
Credit to profit or loss
(164)
Liability at 31 March 2025
165
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Sherad Dewedi and the auditor was Shenward LLP.
10
Profit and loss reserves
The movement in profit and loss reserves for the year ended 31 March 2025 and year ended 31 March 2024 is profit for the year.
11
Parent company
The company's parent undertaking is Exel Chemicals (India) Private Limited, a company incorporated in India, whose registered office is One 42, Unit no. 305, Third Floor, Survey no's. 127/1 & 127/2, F.P no. 142, South Tower, Ambli Bopal Road, Ahmedabad - 380058, Gujarat, India. The smallest and largest group in which the results of the company are consolidated is that headed by Exel Chemicals (India) Private Limited.