These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Purico (USA) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Environment House, 1 St. Marks Street, Nottingham, NG3 1DE.

The presentation currency of the financial statements is the US Dollar ($).

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

Plant and machinery was fully depreciated in prior years.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The company operates a defined contribution pension scheme. Contribution payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

The average monthly number of persons (including directors) employed by the company during the year was:

Other creditors includes accruals and deferred income of $272,541 (2023: $22,998)

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The company has taken advantage of the exemption available under section 1AC.35 of FRS 102, from disclosing transactions entered into between two or more wholly owned members of the group.

During the year, the company received $90,000 (2023: $nil) of management charges from Bolta Investments, a related party by virtue of common directorships.

At the balance sheet date, the company owes Bolta US $3,017 (2023: $3,017), a related party by virtue of common directors.

During the year, the company received $90,000 (2023: $nil) of management charges from Bolta Investments Limited, a related party by virtue of common directorships.

During the year, the company received $6,363 (2023: $1,620) of interest received from Donlow Fininvest Limited, a related party by virtue of common directorships. At the balance sheet date, the company was owed £7,982 (2023: $1,620) by Donlow Fininvest Limited.

At the balance sheet date, the company owed $72,555 (2023: $72,555) to Bolton Plastics Components Limited, a related party by virtue of common directorships.

During the year, the company made a charitable donation of $246,620 (2023: $Nil) to the Puri Foundation, a charity which is connected.

The immediate parent company is Purico Speciality Paper Company Limited, a company incorporated in England and Wales.

The ultimate parent company is Clary Limited, a company incorporated in the Isle of Man. Clary Limited is not required to prepare consolidated financial statements, as such, Purico Speciality Paper Company Limited prepare consolidated financial statements which includes this company and are available from Companies House.