Company registration number 05053014 (England and Wales)
PALEUS CHEMICALS & POLYMERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
PALEUS CHEMICALS & POLYMERS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PALEUS CHEMICALS & POLYMERS LTD
BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 1 -
30 April 2025
31 October 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,193,848
1,713,035
Current assets
Stocks
1,131,277
1,047,809
Debtors
5
6,922,304
6,638,491
Cash at bank and in hand
79,977
60,324
8,133,558
7,746,624
Creditors: amounts falling due within one year
6
(2,309,343)
(2,236,397)
Net current assets
5,824,215
5,510,227
Total assets less current liabilities
9,018,063
7,223,262
Creditors: amounts falling due after more than one year
7
(243,436)
(716,398)
Provisions for liabilities
(696,500)
(322,950)
Net assets
8,078,127
6,183,914
Capital and reserves
Called up share capital
8
301
301
Capital redemption reserve
100
100
Profit and loss reserves
8,077,726
6,183,513
Total equity
8,078,127
6,183,914
PALEUS CHEMICALS & POLYMERS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
30 April 2025
- 2 -

For the financial period ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the board of directors and authorised for issue on 10 November 2025 and are signed on its behalf by:
M W Briscoe
Director
Company registration number 05053014 (England and Wales)
PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Paleus Chemicals & Polymers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Pitman Road, Denaby Industrial Estate, Doncaster, South Yorkshire, DN12 4LJ.

1.1
Accounting convention

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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

1.2
Reporting period

The se financial statements cover the period to 30 April 2025. The comparative information represents a 1 2 month period to 31 October 20 23 and therefore the comparative figures are not entirely comparable. The change of period end was made to ensure the period ended after the changes to the Companies Act company size thresholds.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Plant and equipment
10% straight line
Computers
33% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand.

1.7
Financial instruments

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current 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.

PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such 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.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Freehold Land and Buildings

The directors believed that the residual value of the freehold land and buildings outlined in the financial statements reflects that of its cost and thus no depreciation is required to be charged.

3
Employees

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

2025
2023
Number
Number
Total
22
19
PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
-
0
2,154,677
89,391
20,000
2,264,068
Additions
344,600
1,477,404
25,338
-
0
1,847,342
Disposals
-
0
(77,038)
(12,743)
-
0
(89,781)
At 30 April 2025
344,600
3,555,043
101,986
20,000
4,021,629
Depreciation
At 1 November 2023
-
0
448,681
82,352
20,000
551,033
Depreciation charged in the period
-
0
357,179
6,636
-
0
363,815
Eliminated in respect of disposals
-
0
(74,324)
(12,743)
-
0
(87,067)
At 30 April 2025
-
0
731,536
76,245
20,000
827,781
Carrying amount
At 30 April 2025
344,600
2,823,507
25,741
-
0
3,193,848
At 31 October 2023
-
0
1,705,996
7,039
-
0
1,713,035
5
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
1,377,396
1,258,700
Amounts owed by group undertakings
5,383,486
5,217,909
Other debtors
161,422
161,882
6,922,304
6,638,491
6
Creditors: amounts falling due within one year
2025
2023
£
£
Bank loans
100,000
150,000
Trade creditors
630,036
518,371
Amounts owed to group undertakings
692,844
694,148
Taxation and social security
103,415
27,295
Other creditors
783,048
846,583
2,309,343
2,236,397

Included in other creditors are amounts due in relation to asset finance obligations totalling £218,333 (2023: £195,091). This is secured by way of a fixed charge against the asset to which the loan relates.

The invoice discounting facility included in other creditors, is secured by a fixed and floating charge on all the assets of the company.

PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2023
£
£
Bank loans
108,333
259,722
Other creditors
135,103
456,676
243,436
716,398

Included in other creditors are amounts due in relation to asset finance obligations totalling £135,103 (2023: £456,676). This is secured by way of a fixed charge against the asset to which the loan relates.

8
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
301
301
301
301
9
Financial commitments, guarantees and contingent liabilities

There is an unlimited inter-company composite guarantee in-place between the group companies Paleus Group Limited, DSA Chemical Limited and Paleus Chemicals & Polymers Ltd. As at 30 April 2025 the bank borrowings covered by this guarantee totalled £4,533,339 (2023: £4,077,965)

10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2023
£
£
125,000
200,000
11
Directors' transactions

An unsecured loan has been granted by the company to a director. There are no fixed repayment terms, and interest has been charged at the approved HMRC rates.

Description
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan
-
50,000
178
50,178
-
50,000
178
50,178
PALEUS CHEMICALS & POLYMERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
12
Parent company

The immediate parent undertaking is Paleus Group Limited. The ultimate controlling party is M Briscoe by virtue of a majority shareholding in Paleus Group Limited.

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