REGISTERED NUMBER: 01291684 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KLINGE CHEMICALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C E Campbell

S Klinge

M Klinge

SECRETARY:

R Templeton

REGISTERED OFFICE:

One

Fleet Place

London

EC4M 7WS

REGISTERED NUMBER:

01291684 (England and Wales)

AUDITORS:

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St. Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

5

1,603,714

1,803,338

Investments

6

108

108

1,603,822

1,803,446

CURRENT ASSETS

Stocks

1,218,809

1,589,763

Debtors

7

807,548

1,160,801

Investments

8

-

93

Cash at bank and in hand

831,732

973,900

2,858,089

3,724,557

CREDITORS

Amounts falling due within one year

9

1,447,190

2,136,125

NET CURRENT ASSETS

1,410,899

1,588,432

TOTAL ASSETS LESS CURRENT LIABILITIES

3,014,721

3,391,878

PROVISIONS FOR LIABILITIES

11

146,078

183,057

NET ASSETS

2,868,643

3,208,821

CAPITAL AND RESERVES

Called up share capital

1,110,000

1,110,000

Capital redemption reserve

70,000

70,000

Retained earnings

1,688,643

2,028,821

2,868,643

3,208,821

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 23 July 2025 and were signed on its behalf by:

M Klinge - Director

1.	STATUTORY INFORMATION

Klinge 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Klinge Chemicals Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Long leasehold

-

Straight line over 58 years

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Other investments are recognised initially at fair value which is normally the transaction price excluding the transaction costs.Subsequently, they are measured at fair value through profit and loss if they are publicly traded or their fair value can otherwise be measured reliably.

Stocks

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

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.

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.

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 41 (2023 - 44 ) .

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

19,500

17,750

5.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

Motor

property

leasehold

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

1,392,084

146,752

5,226,787

90,799

6,856,422

Additions

-

-

23,091

-

23,091

At 31 December 2024

1,392,084

146,752

5,249,878

90,799

6,879,513

DEPRECIATION

At 1 January 2024

452,606

79,252

4,436,007

85,219

5,053,084

Charge for year

27,566

2,500

192,649

-

222,715

At 31 December 2024

480,172

81,752

4,628,656

85,219

5,275,799

NET BOOK VALUE

At 31 December 2024

911,912

65,000

621,222

5,580

1,603,714

At 31 December 2023

939,478

67,500

790,780

5,580

1,803,338

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

108

NET BOOK VALUE

At 31 December 2024

108

At 31 December 2023

108

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

584,248

874,737

Other debtors

223,300

286,064

807,548

1,160,801

8.	CURRENT ASSET INVESTMENTS

31.12.24

31.12.23

£

£

Listed investments

-

93

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

65,167

96,291

Amounts owed to group undertakings

4,002

321,253

Taxation and social security

227,009

291,456

Other creditors

1,151,012

1,427,125

1,447,190

2,136,125

10.	LEASING AGREEMENTS

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

31.12.24

31.12.23

£

£

Within one year

27,248

23,244

Between one and five years

104,356

57,930

In more than five years

565,292

568,337

696,896

649,511

11.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

146,078

183,057

Deferred

tax

£

Balance at 1 January 2024

183,057

Credit to Income Statement during year

(36,979

)

Balance at 31 December 2024

146,078

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

The Report of the Auditors was unqualified.

George Macshannon (Senior Statutory Auditor)

for and on behalf of McLay, McAlister & McGibbon LLP

13.	RELATED PARTY DISCLOSURES

Balances of £4,002 (2023: £321,253) are due to group companies. These are interest free and repayable on demand.

Other creditors include balances of £740,000 (2023 :£569,520) due to the directors. These are interest free and repayable on demand.

14.	POST BALANCE SHEET EVENTS

After the balance sheet date a loan balance receivable of £71,237 has been written off. This event occurred after the balance sheet date and is considered non adjusting post balance sheet event.