William Clements (Chemicals) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI022376

William Clements (Chemicals) Ltd

Filleted Unaudited Financial Statements

31 March 2026

William Clements (Chemicals) Ltd

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	6	125,787	148,277
Investments	7	730,000	730,000
		---------	---------
		855,787	878,277

Current assets

Stocks	8	376,025	393,185
Debtors	9	211,682	189,367
Cash at bank and in hand		445,766	353,159
		------------	---------
		1,033,473	935,711

Creditors: amounts falling due within one year	10	217,119		275,454
		------------		---------
Net current assets			816,354	660,257
			------------	------------
Total assets less current liabilities			1,672,141	1,538,534
			------------	------------

Capital and reserves

Called up share capital	11	10,000	10,000
Profit and loss account	12	1,662,141	1,528,534
		------------	------------
Shareholders funds		1,672,141	1,538,534
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

William Clements (Chemicals) Ltd

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 27 October 2026 , and are signed on behalf of the board by:

Mr R Farley

Director

Company registration number: NI022376

William Clements (Chemicals) Ltd

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Linenhall Exchange, 1st Floor, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured 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. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	4% straight line
Plant & machinery	-	25% straight line
Fixtures & fittings	-	25% straight line
Motor vehicles	-	25% straight line

	Computer equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2025: 16 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 April 2025 and 31 March 2026	284,836
	---------
Amortisation
At 1 April 2025 and 31 March 2026	284,836
	---------
Carrying amount
At 31 March 2026	–
	---------
At 31 March 2025	–
	---------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025	424,782	4,030	129,190	60,759	618,761
Additions	29,248	–	–	–	29,248
	---------	-------	---------	--------	---------
At 31 March 2026	454,030	4,030	129,190	60,759	648,009
	---------	-------	---------	--------	---------
Depreciation
At 1 April 2025	315,818	4,030	89,877	60,759	470,484
Charge for the year	37,898	–	13,840	–	51,738
	---------	-------	---------	--------	---------
At 31 March 2026	353,716	4,030	103,717	60,759	522,222
	---------	-------	---------	--------	---------
Carrying amount
At 31 March 2026	100,314	–	25,473	–	125,787
	---------	-------	---------	--------	---------
At 31 March 2025	108,964	–	39,313	–	148,277
	---------	-------	---------	--------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2025 and 31 March 2026	1,058,816
	------------
Impairment
At 1 April 2025 and 31 March 2026	328,816
	------------

Carrying amount
At 31 March 2026	730,000
	------------
At 31 March 2025	730,000
	------------

As at the balance sheet date the company held the following investments in subsidiary undertakings:

Subsidiary Holding Nature of Country of

Business Incorporation

Alex Reid 100% €1.25 Sale of dry Republic of

(Irl) Ordinary cleaning Ireland

Limited Shares materials

8. Stocks

	2026	2025
	£	£
Finished goods and goods for resale	376,025	393,185
	---------	---------

9. Debtors

	2026	2025
	£	£
Trade debtors	161,147	189,367
Amounts owed by group undertakings and undertakings in which the company has a participating interest	535	–
Other debtors	50,000	–
	---------	---------
	211,682	189,367
	---------	---------

10. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	126,043	145,911
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	22,154
Corporation tax	52,877	64,159
Social security and other taxes	35,099	40,130
Other creditors	3,100	3,100
	---------	---------
	217,119	275,454
	---------	---------

Bank loans and overdrafts are secured by an All Monies Mortgage Debenture over the assets of the company, incorporating a fixed charge over the premises, a fixed charge over debtors and a floating charge over all other assets of the company.

11. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

12. Reserves

Profit and loss account reserve records retained earnings and accumulated losses.

13. Controlling party

The company is controlled by Mr and Mrs Farley, who together own the majority of the issued share capital.