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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Devan-PPT Chemicals Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Devan-PPT Chemicals Limited |
Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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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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Devan-PPT Chemicals Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Statutory Auditors |
3 Charnwood Street |
Derby |
Derbyshire |
DE1 2GY |
Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
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 | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Devan-PPT 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts invoiced or receivable excluding value added tax in respect of commissions, |
royalties and recharges of services. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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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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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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6. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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6. | DEBTORS - continued |
2017 | 2016 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Included within other creditors is £7,725 (2016: £Nil) in respect of pension contributions payable. |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1.00 | 150,000 | 150,000 |
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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. | CONTINGENT LIABILITIES |
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The company is party to an ongoing investigation by a fund provider. The full impact of this cannot be |
determined with any certainty at the time of signing these accounts as the legal due process is being followed. |
No provision has been recognised in these accounts. |
Devan-PPT Chemicals Limited (Registered number: 05405054) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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12. | RELATED PARTY DISCLOSURES |
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Recharge of services during the year to the group companies amounted to £408,046(2016: £365,012). |
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Commissions charged to group companies during the year amounted to £270,677 (2016: £398,735). |
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Royalties receivable from group companies during the year amounted to £57,674 (2016: £64,740). |
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Services received during the year from group companies amounted to £133,767 (2016: £86,142) |
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The amount due from group companies at 31 December 2017 was £353,710 (2016: £269,774). |
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The amount due to group companies at 31 December 2017 was £10,907 (2016: £5,867). |
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13. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Devan Chemicals NV of I.Z. Klein Frankrijk - Klein Frankrijkstraat 8 - 9600 Ronse - |
Belgium. |
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The ultimate controlling party is Devan International Group NV of I.Z. Klein Frankrijk - Klein Frankrijkstraat 8 - |
9600 Ronse - Belgium. |