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Financial Statements

for the Year Ended 31 August 2023

for

Linney Fencing Limited

Linney Fencing Limited (Registered number: 00556338)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Linney Fencing Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: K J Meehan
P Meehan





SECRETARY: P Meehan





REGISTERED OFFICE: 8/10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 00556338 (England and Wales)





ACCOUNTANTS: Williams & Co
Chartered Accountants
8/10 South Street
Epsom
Surrey
KT18 7PF

Linney Fencing Limited (Registered number: 00556338)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,358 65,729

CURRENT ASSETS
Stocks 5 217,255 235,143
Debtors 6 102,206 137,278
Cash at bank 377,862 435,045
697,323 807,466
CREDITORS
Amounts falling due within one year 7 165,099 237,950
NET CURRENT ASSETS 532,224 569,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

620,582

635,245

PROVISIONS FOR LIABILITIES 19,547 9,591
NET ASSETS 601,035 625,654

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 600,035 624,654
SHAREHOLDERS' FUNDS 601,035 625,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





P Meehan - Director


Linney Fencing Limited (Registered number: 00556338)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Linney Fencing 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 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.
Improvements to property - in accordance with the property
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 Statement of Income and Retained Earnings, 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.

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 11 (2022 - 11 ) .

Linney Fencing Limited (Registered number: 00556338)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 50,841 147,092 68,693 42,520 309,146
Additions - - 44,132 297 44,429
At 31 August 2023 50,841 147,092 112,825 42,817 353,575
DEPRECIATION
At 1 September 2022 35,589 125,540 42,579 39,709 243,417
Charge for year 5,084 1,133 13,795 1,788 21,800
At 31 August 2023 40,673 126,673 56,374 41,497 265,217
NET BOOK VALUE
At 31 August 2023 10,168 20,419 56,451 1,320 88,358
At 31 August 2022 15,252 21,552 26,114 2,811 65,729

5. STOCKS
2023 2022
£    £   
Stocks 217,255 235,143

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 85,511 112,135
Other debtors 740 -
Directors' current accounts - 2,017
Prepayments & accrued income 15,955 23,126
102,206 137,278

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34,698 81,040
Tax 13,635 44,163
VAT 46,661 51,060
Other creditors 41,535 41,473
Other taxes and PAYE 3,318 4,048
Directors' current accounts 11,749 2,315
Accrued expenses 13,503 13,851
165,099 237,950

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. OTHER FINANCIAL COMMITMENTS

The company has a lease on premises which runs to ***. The current rental is £31,695.

Linney Fencing Limited (Registered number: 00556338)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


10. ULTIMATE CONTROLLING PARTY

The company is under the control of P & S Meehan and K & T Meehan.