Company Registration No. 11328482 (England and Wales)
EXEL CHEMIE UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House, Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW
EXEL CHEMIE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
EXEL CHEMIE UK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3
659
Current assets
Stocks
9,462
-
Debtors
4
1,539,245
1,754,278
Cash at bank and in hand
3,527
8,808
1,552,234
1,763,086
Creditors: amounts falling due within one year
5
(1,297,417)
(1,473,769)
Net current assets
254,817
289,317
Total assets less current liabilities
254,820
289,976
Provisions for liabilities
6
(1)
(165)
Net assets
254,819
289,811
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
10
244,819
279,811
Total equity
254,819
289,811

The directors of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver a copy of the directors' report and profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and are signed on its behalf by:
Mr N D Desai
Director
Company Registration No. 11328482
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Exel Chemie UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.

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
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from sales of goods from supplying dyestuffs and pigments products. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer.

1.4
Tangible fixed assets

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

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

Plant and equipment
25% per annum on straight line basis
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete stock and write downs. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and trade and other creditors.

EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other debtors, amounts due from the parent undertaking 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.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and other loans that are classified as debt, 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.

1.7
Taxation

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

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.

Deferred tax

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 to other comprehensive income or directly to equity, in which case the deferred tax is dealt with in the same way as the underlying gain or loss. 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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
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.

EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
2
Employees

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

2026
2025
Number
Number
Total
4
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025 and 31 March 2026
2,623
Depreciation and impairment
At 1 April 2025
1,964
Depreciation charged in the year
656
At 31 March 2026
2,620
Carrying amount
At 31 March 2026
3
At 31 March 2025
659
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
65,024
701,039
Amounts owed by group undertakings
1,471,994
1,053,239
Other debtors
2,227
-
0
1,539,245
1,754,278

Amount due from parent undertaking is interest free.

EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
21,413
192,344
Corporation tax
9,992
11,883
Other taxation and social security
-
0
8,165
Other creditors
1,260,812
1,256,677
Accruals and deferred income
5,200
4,700
1,297,417
1,473,769
6
Provisions for liabilities
2026
2025
£
£
Deferred tax liabilities
7
1
165
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Accelerated capital allowances
1
165
2026
Movements in the year:
£
Liability at 1 April 2025
165
Credit to profit or loss
(164)
Liability at 31 March 2026
1
8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
EXEL CHEMIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
9
Audit report information

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 senior statutory auditor was Sherad Dewedi and the auditor was Shenward LLP.
10
Profit and loss reserves

The only movements in reserve for the year ended 31 March 2026 are profit for the year and dividends paid, and for year ended 31 March 2025 is profit for the year.

11
Parent company

The company's parent undertaking is Exel Chemicals (India) Private Limited, a company incorporated in India, whose registered office is One 42, Unit no. 305, Third Floor, Survey no's. 127/1 & 127/2, F.P no. 142, South Tower, Ambli Bopal Road, Ahmedabad - 380058, Gujarat, India. The smallest and largest group in which the results of the company are consolidated is that headed by Exel Chemicals (India) Private Limited.

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