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REGISTERED NUMBER: 03686136 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Lindum Packaging Ltd

Lindum Packaging Ltd (Registered number: 03686136)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lindum Packaging Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: G L Sellars
B Sellars
G Sellars





SECRETARY: G L Sellars





REGISTERED OFFICE: Lindum House
Beels Road
Stallingborough
N E Lincolnshire
DN41 8DN





REGISTERED NUMBER: 03686136 (England and Wales)

Lindum Packaging Ltd (Registered number: 03686136)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,284 179,041

CURRENT ASSETS
Stocks 1,038,107 1,114,759
Debtors 5 1,699,272 1,326,769
Cash at bank 466,849 622,007
3,204,228 3,063,535
CREDITORS
Amounts falling due within one year 6 1,260,750 1,467,083
NET CURRENT ASSETS 1,943,478 1,596,452
TOTAL ASSETS LESS CURRENT LIABILITIES 2,111,762 1,775,493

CREDITORS
Amounts falling due after more than one year 7 (203,125 ) -

PROVISIONS FOR LIABILITIES 9 (29,270 ) (29,407 )
NET ASSETS 1,879,367 1,746,086

CAPITAL AND RESERVES
Called up share capital 10 6,100 375,100
Retained earnings 1,873,267 1,370,986
SHAREHOLDERS' FUNDS 1,879,367 1,746,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Lindum Packaging Ltd (Registered number: 03686136)

Balance Sheet - continued
31 December 2021


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 29 July 2022 and were signed on its behalf by:




G L Sellars - Director B Sellars - Director




G Sellars - Director


Lindum Packaging Ltd (Registered number: 03686136)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Lindum Packaging Ltd 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 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.

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

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 - 15% on cost
Motor vehicles - 25% on 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 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date where material. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2020 - 24 ) .

Lindum Packaging Ltd (Registered number: 03686136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 486,381 15,650 502,031
Additions 14,381 28,338 42,719
Disposals - (900 ) (900 )
At 31 December 2021 500,762 43,088 543,850
DEPRECIATION
At 1 January 2021 321,686 1,304 322,990
Charge for year 42,947 9,648 52,595
Eliminated on disposal - (19 ) (19 )
At 31 December 2021 364,633 10,933 375,566
NET BOOK VALUE
At 31 December 2021 136,129 32,155 168,284
At 31 December 2020 164,695 14,346 179,041

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 1,583,405 1,208,395
Other debtors 115,867 118,374
1,699,272 1,326,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 300,582 332,918
Trade creditors 322,130 499,880
Amounts owed to group undertakings 42,250 -
Taxation and social security 410,128 442,524
Other creditors 185,660 191,761
1,260,750 1,467,083

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans 203,125 -

Lindum Packaging Ltd (Registered number: 03686136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank overdraft - 170
Bank loans 503,707 332,748
503,707 332,918

The bank borrowings are secured with a charge over the business premises supported by a joint and several directors personal guarantee totalling £400,000.

9. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 29,270 29,407

Deferred
tax
£   
Balance at 1 January 2021 29,407
Credit to Income Statement during year (137 )
Balance at 31 December 2021 29,270

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
NIL Redeemable Preference A £1 - 369,000
732 A Ordinary £1 732 732
1,159 B Ordinary £1 1,159 1,159
1,159 C Ordinary £1 1,159 1,159
1,159 D Ordinary £1 1,159 1,159
732 E Ordinary £1 732 732
1,159 F Ordinary £1 1,159 1,159
6,100 375,100

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company and controlling party is Well Able Limited, a company incorporated in England and Wales.

12. GOVERNMENT GRANTS

During the period, the company received the following grants in relation to the covid 19 pandemic:

CBIL Interest and fees £ 28,563

All of the grants are unconditional and have been accounted for on an accruals basis.