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Registered number:
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
CONTENTS
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CHELMER UK HOLDINGS LIMITED
COMPANY INFORMATION
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CHELMER UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their strategic report of the company and the group for the year ended 31 March 2026.
The principal activity of the group during the year was the import and distribution of dried fruits, edible nuts, seeds and pulses.
Despite a year characterised by a number of economic and trading challenges, the Group achieved record turnover for the fifth consecutive year. While growth has been achieved across a number of areas of the business, the increase in turnover has been driven predominantly by continued increases in the prices of our core commodities. Notwithstanding the challenging economic environment and trading conditions, the Group delivered another highly profitable year.
Turnover increased by 4.07% compared with the previous year; however, volumes decreased by 9.8%. The significant increase in the prices of core commodities has placed pressure on consumer demand for luxury food products. Commodity prices have subsequently begun to decline sharply, and as a result, the Group anticipates that turnover may reduce for the first time in five years. Encouragingly, volumes are expected to remain broadly consistent with the current level. Administrative costs increased by 24.86% compared with the previous year. This increase reflects the Group’s continued investment in its people and infrastructure, with additional staff recruited to provide a strong platform to support the Group’s future growth. The increase in headcount, together with inflationary increases in employee remuneration, were the principal factors contributing to the increase in administrative costs. The revaluation of our forward derivatives has resulted in a £596,300 loss in the year in comparison to a £65,641 profit the previous year. Principal risks and uncertainties Market risk The global economic landscape in 2026 continued to be influenced by geopolitical tensions, inflationary pressures and volatility across commodity markets. While some of the more acute economic challenges experienced in recent years have eased, commodity prices have now begun to decline, providing some relief from the elevated pricing experienced in recent periods. However, uncertainty remains within the markets in which the Group operates. The Group continues to closely monitor movements in commodity prices and the potential impact these may have on demand, stock valuations and cash flow. With prices now trending downwards, management is carefully managing purchasing decisions and stock levels to minimise exposure to adverse price movements and maintain an appropriate level of working capital. The Group remains focused on responding promptly to changing market conditions while ensuring sufficient stock is available to meet customer demand. Risk management The Group maintains robust risk management processes designed to identify, assess and manage the key risks facing the business. Management closely monitors market conditions and uses appropriate analytical tools and information to assess potential risks and support informed decision-making. This approach enables the Group to respond proactively to changes in market conditions and manage its exposure to financial and operational risks.
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CHELMER UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Financial strength
The Group continues to maintain a strong financial position, providing resilience against changing economic conditions and market volatility. Management remains focused on maintaining appropriate levels of liquidity and working capital while continuing to invest in the resources required to support the Group’s long-term growth. The Group remains vigilant in monitoring market developments and is confident in its ability to adapt to changing conditions. Its diversified business model, strong financial position and experienced management team provide a solid foundation from which to manage future challenges and respond to opportunities as they arise. Financial risk The financial outlook leading into 2027 remains cautiously positive, notwithstanding the continued uncertainty within the UK and wider global economy. The Group remains mindful of the potential impact that global economic and geopolitical developments may have on the industry, including movements in currency markets, commodity prices and freight rates. The Group’s proactive approach to risk management and strong credit control processes provide a solid foundation for managing these risks. Management continues to closely monitor customer exposures and outstanding balances, with a continued focus on maintaining appropriate credit controls and protecting the Group’s cash flow. The Group is also continuing to invest in developing and diversifying its customer base across both the UK and EU markets. This strategy is intended to support future turnover growth while reducing reliance on individual markets and helping to mitigate customer and geographic concentration risk. Management will continue to monitor financial and market conditions closely and adapt its risk management strategies as required. The Group remains focused on maintaining financial stability, protecting profitability and continuing to deliver a high level of service to its customers. Technical/food safety & regulations The Board of Directors are pleased to confirm that, in mid 2026, our organisation successfully achieved the British Retail Consortium Version 9 accreditation with an A Grade, reflecting our continued commitment to best in class food safety, governance and regulatory compliance. In addition, we once again attained the BRC Agents & Brokers Standard at AA Grade, further reinforcing the strength and consistency of our operational standards. Across our Chatteris, Braintree and Izmir sites, we continue to invest in and expand our technical capability to ensure robust support for the development, protection and compliance of our business. This includes ongoing enhancements to our technical department and a strategic refinement of our supply base to minimise risk wherever possible. These measures ensure we remain well equipped to meet future challenges and uphold the highest levels of food safety and regulatory performance.
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CHELMER UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
During the year end 31 March 2026, the board of Chelmer UK Holdings Limited considers, as individuals and collectively, that it has acted in good faith and in a way that would most likely promote the success of the Group and the company for the benefit of its members as a whole by having regard (amongst other matters) to:
a.the likely long-term consequences of any decisions;
b.the interests of the group's employees;
c.the need to foster the group's business relationships with suppliers, customers and others;
d.the impact of the group's operations on the community and the environment;
e.the desirability of the group maintaining a reputation for high standards of business conduct; and
f.the need to act fairly as between members of the Group.
Our people
The Group recognises that its people are fundamental to the continued success of the business and remains committed to providing a professional, supportive and responsible working environment. The Board considers the interests of employees when making key business decisions and seeks to encourage engagement, development and progression within the Group. The Group continues to support employees in developing their knowledge and skills through appropriate internal and external training. We also seek to recognise and develop talent within the business, providing opportunities for employees to progress and take on increased responsibilities. Continued investment in our people supports the delivery of high standards of service and provides a strong foundation for the Group’s future growth. Business relationships Strong and long-standing relationships with our suppliers, customers, service providers and professional advisers remain an important part of the Group’s success. The Board recognises the value of maintaining open and constructive relationships with these stakeholders and considers their interests when making significant business decisions. The Group continues to work closely with its key suppliers to maintain a reliable and diverse product offering, while also developing long-term relationships with customers and seeking opportunities to broaden the Group’s customer base. These relationships support the Group’s ability to respond to changing market conditions, maintain service levels and identify opportunities for sustainable growth. Environmental impact The Group remains committed to understanding and reducing the environmental impact of its operations and continues to review its environmental strategy in light of evolving regulatory requirements and industry expectations. During the year, the Group continued to develop its understanding of its environmental footprint and the areas where further improvements can be made. The Group has undertaken a comprehensive assessment of its carbon footprint to establish a clear baseline of its environmental impact and to inform its longer-term sustainability objectives. The assessment considers emissions across the Group’s value chain, including product-related emissions, logistics and site operations, providing a framework for identifying areas where emissions can be reduced and efficiencies improved. As part of the Group’s ongoing commitment to reducing its environmental impact, further solar panels have been installed at the Chatteris site. The Group has also introduced a salary sacrifice electric vehicle scheme for employees, supporting the transition towards lower-emission vehicles. The Group will continue to review its environmental performance and identify practical opportunities to reduce emissions, improve energy efficiency and support its longer-term sustainability objectives.
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CHELMER UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
This report was approved by the board and signed on its behalf.
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CHELMER UK HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,343,759 (2025: £2,067,303).
No dividends will be distributed for the year ended 31 March 2026 (2025: £Nil).
The directors who served during the year were:
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CHELMER UK HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Group’s focus for the coming year remains on sustainable growth and further strengthening the business. Management will continue to explore opportunities to diversify the Group’s product portfolio, develop new products and services, and identify opportunities to add value for customers.
The Group will also continue to develop its customer base across the UK and EU, while maintaining a focus on service, product quality and long-term customer relationships. Investment in the Group’s people, systems and infrastructure will continue where appropriate to support the future development and scalability of the business across its three sites. Management will continue to assess market opportunities and respond to changing customer requirements, with the aim of delivering measured growth while maintaining the Group’s financial strength and operational resilience.
The group uses forward foreign currency contracts to reduce exposure to the variability of foreign exchange rates by fixing the rate of purchase of foreign currency used to settle material cost charges in foreign currencies.
The engagement of the group with suppliers, customers and others is detailed in the Section 172(1) statement in the strategic report.
Greenhouse gas emissions, energy consumption and energy efficiency action
Information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) regulations 2008 is set out in the strategic report in accordance with 1.141C(11) Companies Act 2006.
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CHELMER UK HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The auditor, Cooper Parry Group Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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CHELMER UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHELMER UK HOLDINGS LIMITED
We have audited the financial statements of Chelmer UK Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026, which comprise the consolidated statement of comprehensive income, the group and company balance sheet, the group and company statement of changes in equity, the consolidated statement of cash flows, the consolidated analysis of net funds and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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CHELMER UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHELMER UK HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
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CHELMER UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHELMER UK HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance. During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. Our procedures in relation to fraud included but were not limited to: inquiries of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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CHELMER UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHELMER UK HOLDINGS LIMITED (CONTINUED)
This report is made solely to the group's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and the group's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Broadwalk House
5th floor
5 Appold St
London
EC2A 2AG
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CHELMER UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
REGISTERED NUMBER: 13185437
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 37 form part of these financial statements.
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CHELMER UK HOLDINGS LIMITED
REGISTERED NUMBER: 13185437
COMPANY BALANCE SHEET
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 37 form part of these financial statements.
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CHELMER UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET FUNDS
FOR THE YEAR ENDED 31 MARCH 2026
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Chelmer UK Holdings Limited 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.
The presentation currency of the financial statements is the Pound Sterling (£). Amounts in these financial statements are rounded to the nearest pound.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgement in applying the group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own consolidated statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the consolidated balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
Intra-group transactions and balances are eliminated on consolidation and consistent accounting policies are used throughout the group for the purposes of the consolidation.
In the company financial statements, investments in subsidiaries are stated at cost less impairment, if any.
The financial statements have been prepared on a going concern basis. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, such as cashflow and budget forecasts, which are at least, but not limited to, twelve months from the date when the financial statements are authorised for issue. The basis is considered appropriate by the directors.
The financial statements do not include any adjustments that would be required if the going concern concept was not deemed appropriate.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the consolidated statement of comprehensive income.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through the consolidated statement of comprehensive income) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the consolidated statement of comprehensive income. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the consolidated statement of comprehensive income.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the consolidated statement of comprehensive income.
Basic 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 group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the consolidated statement of comprehensive income. They are subsequently measured at fair value with changes in the consolidated statement of comprehensive income.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the consolidated statement of comprehensive income. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Ordinary shares are classified as equity.
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. The following paragraphs detail the estimates and judgements the group believes to have the most significant impact on the annual results under FRS 102. Valuation of stocks The group makes and estimate of the net realisable value of the goods it holds for resale, based in the condition and age of the goods held. Management also consider current and future market conditions that may have an affect on the value of the products. An impairment provision is made where net realisable value is estimated to be lower than the cost. Impairment of debtors The group makes an estimate of the recoverable value of trade and other debtors. Management considers factors including current credit rating of the debtor, the ageing profile of debtors and historical experience.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The turnover is attributable to the one principal activity of the group.
Analysis of turnover by country of destination:
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 28
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 29
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of comprehensive income in these financial statements. The profit after tax of the parent company for the year was £
Page 30
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
13.Tangible fixed assets (continued)
The carrying amount of investment property, which the company rents to another group entity when it has chosen to account for such properties using the cost model is £4,016,496 (2025: £4,072,580)
Page 31
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 32
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 33
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 34
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 35
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Profit and loss account
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £Nil (2025: £Nil) were payable to the fund at the reporting date and are included in accruals.
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CHELMER UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The ultimate controlling party is the Weaire family.
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