REGISTERED NUMBER: 02232890 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2023 to 31 December 2024

for

Brad-Chem Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Bryant

Ms I Trainar

REGISTERED OFFICE:

Aquarius House

6 Mid Point Business Park

Thornbury

Bradford

BD3 7AY

REGISTERED NUMBER:

02232890 (England and Wales)

ACCOUNTANTS:

Robbins

176 Monton Road

Monton

Greater Manchester

M30 9GA

FIXED ASSETS

Intangible assets

4

8

8

Property, plant and equipment

5

115,407

171,158

115,415

171,166

CURRENT ASSETS

Inventories

6

1,078,346

1,031,314

Debtors

7

2,448,189

1,554,730

Cash at bank

2,853,607

1,703,738

6,380,142

4,289,782

CREDITORS

Amounts falling due within one year

8

1,844,274

1,654,643

NET CURRENT ASSETS

4,535,868

2,635,139

TOTAL ASSETS LESS CURRENT LIABILITIES

4,651,283

2,806,305

CREDITORS

Amounts falling due after more than one year

9

-

(6,132

)

PROVISIONS FOR LIABILITIES

11

(527

)

(10,432

)

NET ASSETS

4,650,756

2,789,741

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

4,650,656

2,789,641

SHAREHOLDERS' FUNDS

4,650,756

2,789,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 3 September 2025 and were signed on its behalf by:

P G Bryant - Director

1.	STATUTORY INFORMATION

Brad-Chem 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.

Turnover

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

Intangible fixed assets

Intangible fixed assets are stated at cost and amortised over their estimated useful life of three years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the inventories to its present location and condition.

Taxation

Taxation for the period 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 period 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.

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.

Patent and trademarks

Expenditure on patent and trademark applications is charged to the profit and loss account when incurred. Substantial expenditure is capitalised and amortised over the estimated useful life.

Prior year adjustments

The financial statements for the year ended 30 September 2023 have now been revised.

They:

- replace the original financial statements

- are now the statutory financial statements

- are prepared as they were at the date of the original financial statements and not as at the date of the revision and accordingly do not deal with events between those dates.

The original accounts included dividends paid which were mistakenly treated as a loan.

The error of this treatment has now been corrected with no impact on taxation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

Trademarks

Totals

£

£

£

COST

At 1 October 2023

and 31 December 2024

835

2,232

3,067

AMORTISATION

At 1 October 2023

and 31 December 2024

828

2,231

3,059

NET BOOK VALUE

At 31 December 2024

7

1

8

At 30 September 2023

7

1

8

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 October 2023

381,307

92,607

473,914

Additions

5,508

-

5,508

Disposals

(3,186

)

-

(3,186

)

At 31 December 2024

383,629

92,607

476,236

DEPRECIATION

At 1 October 2023

283,463

19,293

302,756

Charge for period

32,238

28,940

61,178

Eliminated on disposal

(3,105

)

-

(3,105

)

At 31 December 2024

312,596

48,233

360,829

NET BOOK VALUE

At 31 December 2024

71,033

44,374

115,407

At 30 September 2023

97,844

73,314

171,158

6.	INVENTORIES

31.12.24

30.9.23

as restated

£

£

Finished goods

1,078,346

1,031,314

7.

DEBTORS

31.12.24

30.9.23

as restated

£

£

Amounts falling due within one year:

Trade debtors

1,608,722

1,465,492

Amounts owed by group undertakings

820,192

32,915

Other debtors

3,156

-

Prepayments and accrued income

16,119

30,676

2,448,189

1,529,083

Amounts falling due after more than one year:

Amounts owed by joint ventures

-

25,647

Aggregate amounts

2,448,189

1,554,730

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

30.9.23

as restated

£

£

Trade creditors

1,189,366

1,305,214

Tax

576,411

238,983

Social security and other taxes

48,053

77,817

VAT

18,094

-

Hire purchase

-

23,529

Accrued expenses

12,350

9,100

1,844,274

1,654,643

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

30.9.23

as restated

£

£

Hire purchase

-

6,132

10.	LEASING AGREEMENTS

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

31.12.24

30.9.23

as restated

£

£

Between one and five years

493,000

512,281

11.	PROVISIONS FOR LIABILITIES

31.12.24

30.9.23

as restated

£

£

Deferred tax

527

10,432

Deferred

tax

£

Balance at 1 October 2023

10,432

Provided during period

(9,905

)

Balance at 31 December 2024

527

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

30.9.23

value:

as restated

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 October 2023

3,244,641

Prior year adjustment

(455,000

)

2,789,641

Profit for the period

1,861,015

At 31 December 2024

4,650,656

14.	ULTIMATE CONTROLLING PARTY

On the balance sheet date the Company's immediate parent undertaking was Brad-Chem Holdings Limited and the Company was ultimately controlled by the Trustees of The Christopher Edward Brady Trust.

On 4 February 2025, the shares of Brad-Chem Holdings Limited were sold to Univar Solutions UK Holdco Limited ( a company registered in England and Wales). Brad-Chem Holdings Limited remains the immediate parent of the entity. However, as a result of the transaction, the Company's ultimate parent company is Windsor Holdings One, Inc., a company incorporated in Delaware, USA.

The Company's ultimate controlling party is an affiliate of funds managed by affiliates of Apollo Global Management, Inc.

15.	SECURED DEBTS

As a result of Loans Notes held within Brad-Chem Holdings Limited and with effect from 22 November 2017 there was a Fixed charge over all estates or interests in any freehold or leasehold property belonging to the company now or at any time after the date of the debenture, Fixed charge over all patents, patent applications, trade marks and trade mark applications.

The charge contained a floating charge covering all the property or undertaking of the company and contained a negative pledge.

This charge was satisfied on 30 January 2025.