REGISTERED NUMBER: 02904042 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Otium Chemie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

J Bartling

Dr D Herzog

R N Coghlan

REGISTERED OFFICE:

4 Park Square

Thorncliffe Park

Chapeltown

Sheffield

South Yorkshire

S35 2PH

REGISTERED NUMBER:

02904042 (England and Wales)

ACCOUNTANTS:

Sochall Smith Limited

4 Park Square

Newton Chambers Road

Chapeltown

Sheffield

South Yorkshire

S35 2PH

FIXED ASSETS

Intangible assets

4

49,391

6,414

Tangible assets

5

65,896

62,602

Investments

6

20,650

20,650

135,937

89,666

CURRENT ASSETS

Stocks

506,185

470,070

Debtors

7

42,944

28,771

Cash at bank

36,168

39,871

585,297

538,712

CREDITORS

Amounts falling due within one year

8

456,646

325,629

NET CURRENT ASSETS

128,651

213,083

TOTAL ASSETS LESS CURRENT LIABILITIES

264,588

302,749

CAPITAL AND RESERVES

Called up share capital

9

2,330

2,330

Share premium

20,320

20,320

Retained earnings

241,938

280,099

SHAREHOLDERS' FUNDS

264,588

302,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2018 and were signed on its behalf by:

Dr D Herzog - Director

1.	STATUTORY INFORMATION

Otium Chemie 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have

transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is

probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in

respect of the transactions can be measured reliably.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

10% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2016 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2017

21,380

Additions

44,417

At 31 December 2017

65,797

AMORTISATION

At 1 January 2017

14,966

Amortisation for year

1,440

At 31 December 2017

16,406

NET BOOK VALUE

At 31 December 2017

49,391

At 31 December 2016

6,414

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2017

55,850

12,168

56,790

124,808

Additions

-

10,604

-

10,604

At 31 December 2017

55,850

22,772

56,790

135,412

DEPRECIATION

At 1 January 2017

22,795

6,308

33,103

62,206

Charge for year

3,300

1,646

2,364

7,310

At 31 December 2017

26,095

7,954

35,467

69,516

NET BOOK VALUE

At 31 December 2017

29,755

14,818

21,323

65,896

At 31 December 2016

33,055

5,860

23,687

62,602

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

and 31 December 2017

20,650

NET BOOK VALUE

At 31 December 2017

20,650

At 31 December 2016

20,650

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

10,160

17,544

Prepayments and accrued income

32,784

11,227

42,944

28,771

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

-

61,207

Trade creditors

235,775

109,423

Social security and other taxes

22,905

31,639

Directors' current accounts

182,882

103,619

Accrued expenses

15,084

19,741

456,646

325,629

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

2,330

Ordinary

£1

2,330

2,330

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 Otium Chemie Limited for the year ended 31 December 2017 which comprise the Profit & Loss

Account, 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 Otium Chemie 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 Otium Chemie Limited and state those matters that we have agreed to state to the Board of Directors of Otium Chemie 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 Otium Chemie Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Otium Chemie 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 loss of Otium Chemie Limited. You consider that Otium Chemie 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 Otium Chemie 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.

Sochall Smith Limited

4 Park Square

Newton Chambers Road

Chapeltown

Sheffield

South Yorkshire

S35 2PH

18 July 2018