Chudleigh Sutch UK Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Chudleigh Sutch UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10128722 . The registered office is Unit 10 Carriers Way, East Hoathley, East Sussex, BN8 6AG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	36 months straight line
Motor Vehicles	48 months straight line
Computer Equipment	36 months straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Chudleigh Sutch UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 5)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	147,763
Additions	1,625

As at 31 December 2024	149,388

Depreciation
As at 1 January 2024	76,255
Provided during the period	36,970

As at 31 December 2024	113,225

Net Book Value
As at 31 December 2024	36,163

As at 1 January 2024	71,508

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Chudleigh Sutch UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investments

	Other
	£
Cost
As at 1 January 2024	666
Disposals	(422 )
Fair value adjustments	(199 )

As at 31 December 2024	45

Provision
As at 1 January 2024	(47 )

As at 31 December 2024	(47 )

Net Book Value
As at 31 December 2024	92

As at 1 January 2024	713

6. Stocks

	2024	2023
	£	£
Stock	8,010	-

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	170,459	201,289
Prepayments and accrued income	1,958	61,186
Other debtors	141	8,425
Amounts owed by subsidiaries	148,960	85,985
Amounts owed by associates	31,812	18,494

	353,330	375,379

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	4,940	4,030
Trade creditors	153,216	257,481
Bank loans and overdrafts	10,000	10,000
Amounts owed to participating interests	330,591	-
Other creditors	17,783	18,110
Taxation and social security	35,866	76,207

	552,396	365,828

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Chudleigh Sutch UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	18,520	20,049
Bank loans	12,500	22,500

	31,020	42,549

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	5,887	5,887
Later than one year and not later than five years	18,653	24,540

	24,540	30,427
Less: Finance charges allocated to future periods	1,080	6,348

	23,460	24,079

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

12. Related Party Transactions

In the year ended 31 December 2024 the company had investments in the following related entities: EquiPacs Ltd and Plastics Training Online Ltd. The company owns 100% and 50% of outstanding shares, respectively, and exercises significant control. The company also had investments in RPM International Tool & Die Limited. The company owns 50% of outstanding shares and has no significant control.

At the balance sheet date, the company was owed £23,376 by RPM International Tool & Die Limited, £5,753 by Plastics Training Online, and £143,207 by EquiPacs Ltd. At the balance sheet date, the company was owed £8,435 by Chudleigh Sutch South Pacific Pty., Ltd, an associated company.

At the balance sheet date, the company owed £320,875 to Chudleigh Sutch South Pacific Pty., Ltd and £9,715 to Chudleigh Sutch Company Limited, an associated company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		36,163		71,508
Investments	5		92		713

			36,255		72,221
CURRENT ASSETS
Stocks	6	8,010		-
Debtors	7	353,330		375,379
Cash at bank and in hand		691,382		403,220

		1,052,722		778,599
Creditors: Amounts Falling Due Within One Year	8	(552,396 )		(365,828 )

NET CURRENT ASSETS (LIABILITIES)			500,326		412,771

TOTAL ASSETS LESS CURRENT LIABILITIES			536,581		484,992

Creditors: Amounts Falling Due After More Than One Year	9		(31,020 )		(42,549 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(755 )		(1,629 )

NET ASSETS			504,806		440,814

CAPITAL AND RESERVES
Called up share capital	11		1		1
Profit and Loss Account			504,805		440,813

SHAREHOLDERS' FUNDS			504,806		440,814