SOVEREIGN CHEMICALS LIMITED

• ⚠

  Material uncertainty over going concern

  Accordingly, the going concern basis of preparation is no longer appropriate as at 31 December 2024. The company has a £100,000 intercompany cash pooling overdraft facility based on limits set by Arkema Treasury, which as at 31 March 2025 had a balance of nil. Arkema France has confirmed that this funding level will be available whilst the Company is in existence for a period through to 30 June 2026 to ensure that the Company has the resources necessary to meet its liabilities as they fall due. As there is a likelihood that the Company will start a liquidation process towards its dissolution in the period to 30 June 2026 a break-up basis has been applied in preparing these financial statements.

1. SOVEREIGN CHEMICALS LIMITED 2001-11-26 → present
2. ATO FINDLEY UK LIMITED 1996-12-24 → 2001-11-26
3. NEWSDESIGN LIMITED 1996-11-20 → 1996-12-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Accordingly, the going concern basis of preparation is no longer appropriate as at 31 December 2024. The company has a £100,000 intercompany cash pooling overdraft facility based on limits set by Arkema Treasury, which as at 31 March 2025 had a balance of nil. Arkema France has confirmed that this funding level will be available whilst the Company is in existence for a period through to 30 June 2026 to ensure that the Company has the resources necessary to meet its liabilities as they fall due. As there is a likelihood that the Company will start a liquidation process towards its dissolution in the period to 30 June 2026 a break-up basis has been applied in preparing these financial statements.”

Significant events

• “From 1 January 2022, the company ceased to trade.”
• “On 8 July 2024, the company sold its remaining land and buildings for a consideration of £752,523, yielding a profit, net of costs, of £736,000.”
• “On 1 January 2022, the company transferred to Bostik Limited the trade and the majority of the assets and liabilities of the Company at book value for consideration in the form of an intercompany receivable.”
• “On 5 August 2024, the company reduced its issued share capital from £250,000 to £1.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  +5.1%

  £13,071,000 → £13,736,000

• Employees

  —

  Not reported

• Operating profit

  +6.6%

  -£76,000 → -£71,000

• Profit before tax

  +975%

  -£76,000 → £665,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers