REGISTERED NUMBER: 05405054 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Devan-PPT Chemicals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A N Sachs

R Moyle

REGISTERED OFFICE:

47a Queen Street

Derby

Derbyshire

DE1 3DE

REGISTERED NUMBER:

05405054 (England and Wales)

SENIOR STATUTORY AUDITOR:

David Meadows BA BFP FCA

AUDITORS:

Bourne & Co.

Statutory Auditors

47a Queen Street

Derby

Derbyshire

DE1 3DE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,640

10,309

3,640

10,309

CURRENT ASSETS

Debtors

6

433,081

522,801

Cash at bank and in hand

34,109

150,422

467,190

673,223

CREDITORS

Amounts falling due within one year

7

49,352

46,468

NET CURRENT ASSETS

417,838

626,755

TOTAL ASSETS LESS CURRENT LIABILITIES

421,478

637,064

PROVISIONS FOR LIABILITIES

911

2,150

NET ASSETS

420,567

634,914

CAPITAL AND RESERVES

Called up share capital

9

150,000

150,000

Retained earnings

270,567

484,914

SHAREHOLDERS' FUNDS

420,567

634,914

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 Income Statement has not been delivered.

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

J A N Sachs - Director

1.	STATUTORY INFORMATION

Devan-PPT Chemicals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents amounts invoiced or receivable excluding value added tax arising from service and sales support agreements between other group companies. Turnover and the associated debtor is recognised at the point of delivering the service or support and invoices are raised by the group annually in accordance with the agreements.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

in accordance with the property

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Taxation

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

35,925

AMORTISATION

At 1 January 2024

and 31 December 2024

35,925

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

49,417

76,439

17,990

27,230

171,076

Additions

-

-

-

666

666

Disposals

-

(76,439

)

-

(26,703

)

(103,142

)

At 31 December 2024

49,417

-

17,990

1,193

68,600

DEPRECIATION

At 1 January 2024

44,451

71,315

17,990

27,011

160,767

Charge for year

1,839

2,810

-

372

5,021

Eliminated on disposal

-

(74,125

)

-

(26,703

)

(100,828

)

At 31 December 2024

46,290

-

17,990

680

64,960

NET BOOK VALUE

At 31 December 2024

3,127

-

-

513

3,640

At 31 December 2023

4,966

5,124

-

219

10,309

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

360

1,178

Amounts owed by group undertakings

412,766

499,295

Other debtors

19,955

22,328

433,081

522,801

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

19,780

16,430

Taxation and social security

18,210

16,562

Other creditors

11,362

13,476

49,352

46,468

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

22,343

22,443

Between one and five years

35,000

57,343

57,343

79,786

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

150,000

Ordinary

£1.00

150,000

150,000

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

The Report of the Auditors was unqualified.

David Meadows BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Bourne & Co.

11.	RELATED PARTY DISCLOSURES

Recharge of services during the year to the group companies amounted to £410,331 (2023: £499,295).

Purchases of fixed assets by the group companies totalled £2,435 (2023: £Nil).

The amount due from group companies at 31 December 2024 was £412,766 (2023: £499,295).

In addition during the year consultancy fees were paid to a company which the director J Ellis controlled. The value of these fees was £35,625 (2023: £34,262) and the balance outstanding at the year end was £2,625 owed by Devan PPT Chemicals Limited (2023: £3,000)

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Devan Chemicals NV of I.Z. Klein Frankrijk - Klein Frankrijkstraat 8 - 9600 Ronse - Belgium.

The ultimate controlling party is Fashion Chemicals GmbH & Co. KG of Isardamm 79-83, 82538 Geretsried and accounts are available from this address.