REGISTERED NUMBER: 03308563 (England and Wales)

CHX PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Knight

T D Knight

B Knight

REGISTERED OFFICE:

Unit 6 Cooksland Industrial Estate

BODMIN

Cornwall

PL31 2QB

REGISTERED NUMBER:

03308563 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

627,960

659,392

CURRENT ASSETS

Stocks

128,949

243,167

Debtors

746,807

624,865

Investments

-

650,000

Cash at bank

1,149,445

379,727

2,025,201

1,897,759

CREDITORS

Amounts falling due within one year

497,713

557,693

NET CURRENT ASSETS

1,527,488

1,340,066

TOTAL ASSETS LESS CURRENT LIABILITIES

2,155,448

1,999,458

CREDITORS

Amounts falling due after more than one year

(48,705

)

(84,535

)

PROVISIONS FOR LIABILITIES

(99,000

)

(126,000

)

NET ASSETS

2,007,743

1,788,923

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,007,741

1,788,921

SHAREHOLDERS' FUNDS

2,007,743

1,788,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

A D Knight - Director

1.	STATUTORY INFORMATION

CHX Products 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 (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006, other than with respect to the accounting for the defined benefit pension scheme, as discussed in the accounting policies.

Despite the departure from the requirements of FRS 102 in this area, the directors have concluded that the financial statements present fairly the company's financial position and financial performance.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

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 the sale of goods and the rendering of services. Turnover is recognised upon delivery of goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

Straight line over 25 years

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Office Equipment

-

15% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investments

Short term investments are measured at fair value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Leases

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases

Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates two defined benefit pension schemes. These schemes are however only open to the Directors, Mr A Knight and Mrs T Knight.

An FRS 102: Employee Benefits report should be carried out by an actuary at each balance sheet date, in order to calculate the fair value of scheme assets and the present value of scheme obligations. However due to the nature of the schemes, being with one beneficiary each, these reports have not been commissioned.

The directors have determined that no entries would be required to adjust the Balance Sheet or Profit and Loss Account as a result of the nature of the schemes, and have therefore departed from the treatment as required by FRS 102.

As a result no adjustments have been entered in these accounts for:

- Current service cost

- Actuarial gains and losses

- Expected returns on plan assets

- Unwinding of discount factors on scheme obligations

The payments made into the pension scheme have been recognised in the Profit and Loss Account within administrative expenses.

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 17 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

1,873,546

Additions

153,979

At 31 December 2025

2,027,525

DEPRECIATION

At 1 January 2025

1,214,154

Charge for year

185,411

At 31 December 2025

1,399,565

NET BOOK VALUE

At 31 December 2025

627,960

At 31 December 2024

659,392

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2025

and 31 December 2025

164,695

DEPRECIATION

At 1 January 2025

55,363

Charge for year

24,704

At 31 December 2025

80,067

NET BOOK VALUE

At 31 December 2025

84,628

At 31 December 2024

109,332

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

25,845

26,317

Between one and five years

48,705

74,550

74,550

100,867

Non-cancellable

operating leases

2025

2024

£

£

Within one year

8,803

8,303

Between one and five years

16,134

24,942

24,937

33,245

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

9,641

19,985

Hire purchase contracts

74,550

100,867

84,191

120,852

Loans are secured on the assets to which they relate.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a director was overdrawn by £318,978 (2024: £249,491). There were further advances during the year of £209,732 (2024: £353,980), with repayments of £146,250 (2024: £133,509). Interest has been charged in line with HMRC guidance totalling £6,005 (2024: £2,854).

9.	DIVIDENDS PAID

The dividends paid during the year total £59,250 (2024: £131,500).

10.	DEFINED BENEFIT PENSION SCHEME

The company operates two defined benefit pension schemes. The schemes were set up for the sole benefit of the Directors, Mr A Knight and Mrs T Knight and as such, there is just one member in each scheme.

As at 31st December 2025, no formal actuarial valuation had been conducted on the scheme assets and liabilities. However, a valuation report prepared shortly after the year end confirmed that the scheme's assets hold a valuation of £2,331,442, split as follows:

£

Cash

1,246

Property

365,000

Investment Portfolios

1,965,196

Total valuation

2,331,442

This has been generated from total invested funds of £1,890,674 (2024: £1,620,674), thus a gain of £440,768.

As no actuarial valuation has been carried out, the present value of the scheme obligations is unknown. However as each scheme has only one individual, the final position on retirement would be that the entirety of the fair value of the scheme assets would be attributed to them at the date of retirement.

Therefore, it is considered that as at 31st December 2025, the present value of scheme obligations would equate to the fair value of the scheme assets, this being £2,331,442. There is therefore no pension asset or liability disclosed on the Balance Sheet and no actuarial gains or losses recognised in the Profit and Loss Account.