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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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FOR |
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D.B.M. CHEMICALS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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FOR |
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D.B.M. CHEMICALS LIMITED |
D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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D.B.M. CHEMICALS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
5 White Oak Square |
London Road |
Swanley |
Kent |
BR8 7AG |
D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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BALANCE SHEET |
31 MAY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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1. | STATUTORY INFORMATION |
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D.B.M. Chemicals Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. |
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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 subsidiaries within the group. |
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Critical accounting 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. |
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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. |
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There are no estimates and assumptions that have a significant risk of causing a material adjustment to the |
carrying amount of assets and liabilities in these accounts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Revenue is recongised once the product has been delivered to the customer. |
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Tangible fixed assets |
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Plant and machinery | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of |
the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with |
an original maturity date of three months or less. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2018 |
and 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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5. | STOCKS |
2019 | 2018 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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D.B.M. CHEMICALS LIMITED (REGISTERED NUMBER: 01212067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1.00 | 100 | 100 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 June 2018 |
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Profit for the year |
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At 31 May 2019 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the Company owed the director Mr J Hornett £NIL (2018: £529). |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Hornett Brothers and Co Limited by virtue of the shareholding. |