REGISTERED NUMBER: 04546531 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Forchem Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C I Anderson

REGISTERED OFFICE:

Office 302, The Innovation Centre

Venture Court

Queens Meadow Business Park

Hartlepool

Cleveland

TS25 5TG

REGISTERED NUMBER:

04546531 (England and Wales)

SENIOR STATUTORY AUDITOR:

Simon Hook FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants and Statutory Auditors

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

1,080

1,348

CURRENT ASSETS

Debtors

5

16,324

4,359

Cash at bank

41,151

54,184

57,475

58,543

CREDITORS

Amounts falling due within one year

6

(17,898

)

(24,882

)

NET CURRENT ASSETS

39,577

33,661

TOTAL ASSETS LESS CURRENT LIABILITIES

40,657

35,009

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

40,656

35,008

SHAREHOLDERS' FUNDS

40,657

35,009

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

C I Anderson - Director

1.	STATUTORY INFORMATION

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

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party transactions

The group has taken advantage of exemption, under the terms of Section 1A ''Small Entities'' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Income recognition

Income is received in advance for services, any income relating to future periods is deferred.

Tangible fixed assets

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

Office equipment

-

33% on cost

Fixtures and fittings

-

25% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and impairments.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Operating leases

Rentals payable under operating leases are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

equipment

fittings

Totals

£

£

£

COST

At 1 January 2024

1,816

1,261

3,077

Additions

166

-

166

At 31 December 2024

1,982

1,261

3,243

DEPRECIATION

At 1 January 2024

468

1,261

1,729

Charge for year

434

-

434

At 31 December 2024

902

1,261

2,163

NET BOOK VALUE

At 31 December 2024

1,080

-

1,080

At 31 December 2023

1,348

-

1,348

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

13,221

-

Other debtors

1,699

2,601

Prepayments and accrued income

1,404

1,758

16,324

4,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,473

365

Amounts owed to group undertakings

-

8,449

Tax and social security

8,459

8,669

Other creditors

2,007

1,915

Director's current account

16

16

Accruals and deferred income

5,943

5,468

17,898

24,882

7.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

9,657

10,327

Between one and five years

8,852

8,852

In more than five years

-

8,852

18,509

28,031

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

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

The Report of the Auditors was unqualified.

Simon Hook FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

10.	RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2024

2023

£

£

Amounts due to directors

16

16

No interest has been charged.

11.	PARENT UNDERTAKING

The company's parent undertaking is Forchem Oyj, incorporated in Finland.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Respol Resinas S.A., a company incorporated in Portugal, who owns the shares in Forchem Oyj, the immediate parent company.

The consolidated accounts of this company are available to the public and may be obtained from Forchem Oyj, Maanpääntie 3, FI-26101 Rauma, Finland. No other group financial statements include the results of the company.