Norma Chemicals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00444123 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2020

for

Norma Chemicals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

S R G Tate

Mrs M J Tate

R E Warriner

SECRETARY:

Mrs M J Tate

REGISTERED OFFICE:

29a Crown Street

Brentwood

Essex

CM14 4BA

REGISTERED NUMBER:

00444123 (England and Wales)

ACCOUNTANTS:

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

FIXED ASSETS

Investments

4

353

262

CURRENT ASSETS

Debtors

5

1,711

19,626

Cash at bank

69,498

36,308

71,209

55,934

CREDITORS

Amounts falling due within one year

6

10,581

326

NET CURRENT ASSETS

60,628

55,608

TOTAL ASSETS LESS CURRENT LIABILITIES

60,981

55,870

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

59,981

54,870

SHAREHOLDERS' FUNDS

60,981

55,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29th September 2021 and were signed on its behalf by:

S R G Tate - Director

1.	STATUTORY INFORMATION

Norma Chemicals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have reviewed the ongoing situation with COVID-19 and they consider it reasonable to prepare the financial statements on the going concern basis. The directors expect that the company will continue to generate income during the course of the pandemic and furthermore, the company has sufficient reserves and financing options available, therefore, they have no significant concern as to the company's ability to continue to trade for the next 12 months.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2020

and 31st December 2020

9,237

PROVISIONS

At 1st January 2020

8,975

Provision for year

(91

)

At 31st December 2020

8,884

NET BOOK VALUE

At 31st December 2020

353

At 31st December 2019

262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other debtors

1,711

19,626

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Taxation and social security

1,178

326

Other creditors

9,403

-

10,581

326

7.	RELATED PARTY DISCLOSURES

During the year, the company purchased goods from Wallace Manufacturing Chemists Limited, a company under common control, amounting to £136,952 (2019: £256,849).

Also during the year, Wallace Manufacturing Chemists Limited recharged a proportion of its overheads to the company amounting to £880 (2019: £21,603).

At the year end, the amount due from the company to Wallace Manufacturing Chemists Limited amounted to £9,403 (2019: due to the company £19,626).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norma Chemicals Limited for the year ended 31st December 2020 which comprise the Income Statement, Balance Sheet and the 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Norma Chemicals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norma Chemicals Limited and state those matters that we have agreed to state to the Board of Directors of Norma Chemicals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norma Chemicals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Norma 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 Norma Chemicals Limited. You consider that Norma Chemicals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Norma Chemicals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

29th September 2021