REGISTERED NUMBER: |
DEVINE CHEMICALS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
REGISTERED NUMBER: |
DEVINE CHEMICALS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DEVINE CHEMICALS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Cherrytree |
Union Road |
Sheffield |
South Yorkshire |
S11 9EF |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
BALANCE SHEET |
28 FEBRUARY 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
BALANCE SHEET - continued |
28 FEBRUARY 2023 |
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 |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
Devine Chemicals Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Research and development expenditure |
Research and development expenditure has been capitalised as an intangible fixed asset where the outcome of the project is assessed as being reasonably certain to bring a benefit to the company. The expenditure is capitalised as it falls due, and will be amortised on a straight line basis over the expected period of the benefit. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Pension costs and other post-retirement benefits |
The pension costs charged in the financial statements represent the contribution payable by the company during the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 |
AMORTISATION |
At 1 March 2022 |
and 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 March 2022 |
Additions |
Disposals | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 136,447 | 225,828 |
Other creditors |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Other loans - 1-2 years |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
28.2.23 | 28.2.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
28.2.23 | 28.2.22 |
£ | £ |
Within one year |
Between one and five years |
DEVINE CHEMICALS LIMITED (REGISTERED NUMBER: 02887222) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
Ordinary, Ordinary A and |
Ordinary B | £1 | 100 | 100 |
Preference | £1 | 315,000 | 270,000 |
315,100 | 270,100 |
There was a partial re-classification of the company's Ordinary Share Capital on 8 October 2021. On that date 10 Ordinary Shares of £1 each were re-designated as Ordinary A Shares of £1 each, and a further 10 were re-designated as Ordinary B Shares of £1 each. All classes of Ordinary Shares have the same voting rights. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is J Devine. |