Company registration number 02659833 (England and Wales)
X.R.O.CHEMICAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
X.R.O.CHEMICAL SERVICES LIMITED
COMPANY INFORMATION
Directors
P R Cox
W E Greatorex
Company number
02659833
Registered office
The Larches
Moor Farm Road West
Ashbourne
Derbyshire
United Kingdom
DE6 1HD
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
X.R.O.CHEMICAL SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
X.R.O.CHEMICAL SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF X.R.O.CHEMICAL SERVICES LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of X.R.O.Chemical Services Limited for the year ended 28 February 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of X.R.O.Chemical Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of X.R.O.Chemical Services Limited and state those matters that we have agreed to state to the board of directors of X.R.O.Chemical Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than X.R.O.Chemical Services Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that X.R.O.Chemical Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of X.R.O.Chemical Services Limited. You consider that X.R.O.Chemical Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of X.R.O.Chemical Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
9 July 2025
X.R.O.CHEMICAL SERVICES LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
257,416
210,872
Current assets
Stocks
410,005
369,279
Debtors
4
370,200
501,516
Cash at bank and in hand
302,806
100,473
1,083,011
971,268
Creditors: amounts falling due within one year
5
(675,741)
(634,272)
Net current assets
407,270
336,996
Total assets less current liabilities
664,686
547,868
Creditors: amounts falling due after more than one year
6
-
0
(4,636)
Provisions for liabilities
(67,274)
(64,229)
Net assets
597,412
479,003
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
597,312
478,903
Total equity
597,412
479,003
X.R.O.CHEMICAL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
- 3 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 July 2025 and are signed on its behalf by:
W E Greatorex
Director
Company registration number 02659833 (England and Wales)
X.R.O.CHEMICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information

X.R.O.Chemical Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Larches, Moor Farm Road West, Ashbourne, Derbyshire, United Kingdom, DE6 1HD.

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
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

X.R.O.CHEMICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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:

Leasehold land and buildings
15 % reducing balance / 15% Straight line basis
Plant and machinery
15 % reducing balance / 15% Straight line basis
Computer equipment
15 % reducing balance / 15% Straight line basis
Office equipment
15% reducing balance

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.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between

the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

X.R.O.CHEMICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 6 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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 directly to equity, in which case the deferred tax is also dealt with in equity. 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
20
17
X.R.O.CHEMICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 7 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Computer equipment
Office equipment
Assets purchased under grant scheme
Total
£
£
£
£
£
£
Cost
At 1 March 2024
86,044
285,984
20,677
2,569
9,851
405,125
Additions
-
0
81,159
-
0
-
0
-
0
81,159
At 28 February 2025
86,044
367,143
20,677
2,569
9,851
486,284
Depreciation and impairment
At 1 March 2024
1,175
175,477
6,272
1,478
9,851
194,253
Depreciation charged in the year
12,875
20,592
984
164
-
0
34,615
At 28 February 2025
14,050
196,069
7,256
1,642
9,851
228,868
Carrying amount
At 28 February 2025
71,994
171,074
13,421
927
-
0
257,416
At 29 February 2024
84,869
110,507
14,405
1,091
-
0
210,872
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
353,734
482,911
Other debtors
16,466
18,605
370,200
501,516
5
Creditors: amounts falling due within one year
2025
2024
£
£
Loans and borrowings
5,555
7,586
Trade creditors
427,624
388,934
Taxation and social security
75,405
64,209
Other creditors
167,157
173,543
675,741
634,272

The hire purchase and finance lease liabilities are secured against the asset to which they relate. The carrying amount at the year end is £5,555 (2024 - £12,222).

X.R.O.CHEMICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loans and borrowings
-
0
4,636

 

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Financial commitments, guarantees and contingent liabilities

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £389,970 (2024 -

£501,390).

9
Events after the reporting date

Since the balance sheet date, dividends of £16,000 have been voted.

10
Directors' transactions

At the balance sheet date amounts owed to directors amounted to £118,311 (2024 - £145,411). The loans are provided interest free and are repayable on demand.

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