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2019-12-31
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No description of principal activities is disclosed
2019-01-01
Sage Accounts Production 18.30 Update 1 - FRS
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xbrli:shares
iso4217:GBP
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2019-12-31
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2019-12-31
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2019-12-31
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2019-12-31
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2018-12-31
Company registration number:
06253533
DC Fine Chemicals Limited
Unaudited filleted financial statements
31 December 2019
DC Fine Chemicals Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
DC Fine Chemicals Limited
Directors and other information
|
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Directors
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L D Loeb
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J M Cortes Massana
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J J Orihuela Lozano
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A Berral Raya
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(Appointed 14th January 2020)
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Secretary
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L D Loeb
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Company number
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06253533
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Registered office
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88 Hill Top
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London
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NW11 6DY
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Business address
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1A Cobham Mews
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Agar Grove
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London
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NW1 9SB
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Accountants
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Brian Paul Limited
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Chase Green House
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42 Chase Side
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Enfield
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Middlesex
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EN2 6NF
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DC Fine Chemicals Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of DC Fine Chemicals Limited
Year ended 31st December 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DC Fine Chemicals Limited for the year ended 31st December 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of DC Fine Chemicals Limited, as a body, in accordance with the terms of our engagement letter dated 1st September 2015. Our work has been undertaken solely to prepare for your approval the financial statements of DC Fine Chemicals Limited and state those matters that we have agreed to state to the board of directors of DC Fine Chemicals Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DC Fine Chemicals Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that DC Fine Chemicals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DC Fine Chemicals Limited. You consider that DC Fine Chemicals Limited is exempt from the statutory audit requirement for the year.
Brian Paul Limited
Chartered Accountants
Chase Green House
42 Chase Side
Enfield
Middlesex
EN2 6NF
DC Fine Chemicals Limited
Statement of financial position
31st December 2019
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
2,528
|
|
|
|
2,218
|
|
|
Investments
|
|
6
|
44,858
|
|
|
|
44,858
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
47,386
|
|
|
|
47,076
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
7
|
585,564
|
|
|
|
542,382
|
|
|
Cash at bank and in hand
|
|
|
266,462
|
|
|
|
152,704
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
852,026
|
|
|
|
695,086
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
247,639)
|
|
|
|
(
142,998)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
604,387
|
|
|
|
552,088
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
651,773
|
|
|
|
599,164
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
9
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
|
|
|
651,673
|
|
|
|
599,064
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
651,773
|
|
|
|
599,164
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2019 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.
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 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.
These financial statements were approved by the
board of directors
and authorised for issue on
06 April 2020
, and are signed on behalf of the board by:
L D Loeb
Director
Company registration number:
06253533
DC Fine Chemicals Limited
Notes to the financial statements
Year ended 31st December 2019
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 88 Hill Top, London, NW11 6DY. The business address of the company is 1a Cobham Mews, Agar Grove, London, NW1 9SB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discount and value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All difference are taken to the Profit and Loss account.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year, including the directors was 4 (2018: 4).
5.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1st January 2019
|
12,392
|
12,392
|
|
|
|
|
|
|
Additions
|
1,153
|
1,153
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31st December 2019
|
13,545
|
13,545
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1st January 2019
|
10,174
|
10,174
|
|
|
|
|
|
|
Charge for the year
|
843
|
843
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31st December 2019
|
11,017
|
11,017
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31st December 2019
|
2,528
|
2,528
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31st December 2018
|
2,218
|
2,218
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Investments
|
|
Shares in group undertakings
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1st January 2019 and 31st December 2019
|
44,858
|
44,858
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1st January 2019 and 31st December 2019
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31st December 2019
|
44,858
|
44,858
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31st December 2018
|
44,858
|
44,858
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
The results and capital and reserves for the period of the trading companies are as follows:
|
|
|
|
|
|
|
|
|
Capital and
|
|
Profit/(loss)
|
|
|
|
reserves
|
|
for the
|
|
|
|
|
|
period
|
|
|
2019
|
2018
|
2019
|
2018
|
|
|
£
|
£
|
£
|
£
|
|
Subsidiary undertakings
|
|
|
|
|
|
D C Fine Chemicals Spain S.L.U.
|
1,546,699
|
1,001,329
|
584,156
|
389,928
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
The company holds 100% of the share capital of D C Fine Chemicals Spain S.L.U.
7.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
347,747
|
146,403
|
|
Amounts owed by DC Fine Chemicals Spain S.L.U.
|
|
212,840
|
353,417
|
|
Prepayments and accrued income
|
|
24,477
|
42,062
|
|
Other debtors
|
|
500
|
500
|
|
|
|
_______
|
_______
|
|
|
|
585,564
|
542,382
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
36,539
|
5,491
|
|
Accruals and deferred income
|
|
7,257
|
7,099
|
|
Corporation tax
|
|
49,735
|
54,536
|
|
Social security and other taxes
|
|
79,331
|
20,478
|
|
Employee's pension
|
|
284
|
270
|
|
Director loan accounts
|
|
74,134
|
54,199
|
|
Other creditors
|
|
359
|
925
|
|
|
|
_______
|
_______
|
|
|
|
247,639
|
142,998
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary A shares
shares of £
1.00 each
|
|
1
|
|
1
|
|
1
|
|
1
|
|
Ordinary B shares
shares of £
1.00 each
|
|
99
|
|
99
|
|
99
|
|
99
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
100
|
|
100
|
|
100
|
|
100
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Balance owed by/(owed to)
|
|
|
|
|
|
2019
|
2018
|
|
|
|
|
£
|
£
|
|
|
|
D C Fine Chemicals Spain S.L.U.
|
212,840
|
353,417
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
During the year the company recharged service fees of £130,482 (2018:£86,312) to DC Fine Chemicals Spain S.L.U. whilst purchasing goods to the value of £1,684,385 (2018: £981,422). In addition management expenses of £39,810 (2018: £34,383) were recharged from DC Fine Chemicals Spain S.L.U.
11.
Controlling party
No individual acting alone can exercise control over the company.