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Registration number: NI675568

Chemworx Collection Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Chemworx Collection Ltd

(Registration number: NI675568)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 8,680 | 7,550
Current assets |  |  |
Stocks | 5 | 9,850 | 3,500
Debtors | 6 | 3,032 | 500
Cash at bank and in hand |  | 747 | 1,737
|  | 13,629 | 5,737
Creditors: Amounts falling due within one year | 7 | (13,633) | (11,760)
Net current liabilities |  | (4) | (6,023)
Total assets less current liabilities |  | 8,676 | 1,527
Provisions for liabilities |  | (1,649) | -
Net assets |  | 7,027 | 1,527
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | 7,026 | 1,526
Shareholders' funds |  | 7,027 | 1,527

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Chemworx Collection Ltd

(Registration number: NI675568)
Balance Sheet as at 31 January 2025

Approved and authorised by the director on 9 October 2025

......................................... Mr Anthony McConomy Director

Chemworx Collection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 9 Phase 2, 2 Riada Avenue, Acorn Business Centre, Ballymoney, Co Antrim, BT53 7LH.

These financial statements were authorised for issue by the director on 9 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Chemworx Collection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Chemworx Collection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Chemworx Collection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Other tangible assets £ | Total £
Cost or valuation
At 1 February 2024 | 1,037 | 8,400 | 9,437
Additions | - | 3,300 | 3,300
At 31 January 2025 | 1,037 | 11,700 | 12,737
Depreciation
At 1 February 2024 | 207 | 1,680 | 1,887
Charge for the year | 166 | 2,004 | 2,170
At 31 January 2025 | 373 | 3,684 | 4,057
Carrying amount
At 31 January 2025 | 664 | 8,016 | 8,680
At 31 January 2024 | 830 | 6,720 | 7,550

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 9,850 | 3,500

6 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 3,032 | 500
| 3,032 | 500

Chemworx Collection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 7,247 | 7,745
Taxation and social security |  | 1,354 | -
Accruals and deferred income |  | 4,658 | 3,770
Other creditors |  | 374 | 245
|  | 13,633 | 11,760