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LINNETTS PROOFING LIMITED

Registered Number
06578834
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

LINNETTS PROOFING LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

MILLER, Anthea Lesley
MILLER, John Joseph

Registered Address

1 Gemini Court
42a Throwley Way
Sutton
SM1 4AF

Registered Number

06578834 (England and Wales)
LINNETTS PROOFING LIMITED
Statement of Financial Position
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets579,205120,021
Investments6-216,644
79,205336,665
Current assets
Debtors324,529325,565
Cash at bank and on hand5,6012,097
330,130327,662
Creditors amounts falling due within one year11(8,333)(70,886)
Net current assets (liabilities)321,797256,776
Total assets less current liabilities401,002593,441
Provisions for liabilities12(12,758)(20,192)
Net assets388,244573,249
Capital and reserves
Called up share capital100100
Revaluation reserve-3,761
Profit and loss account388,144569,388
Shareholders' funds388,244573,249
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2023, and are signed on its behalf by:
MILLER, Anthea Lesley
Director
MILLER, John Joseph
Director

Registered Company No. 06578834
LINNETTS PROOFING LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Property, plant and equipment policy
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life or, if held under a finance lease over the lease term which ever is the shorter: Improvements to property - Over the Lease Term.

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit & loss over the relevant period. The capital element of the future payments is treated as a liability.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
The Company operated 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.
4.Employee information

20232022
Average number of employees during the year28
5.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 May 22106,319469,93871,05974,557721,873
At 30 April 23106,319469,93871,05974,557721,873
Depreciation and impairment
At 01 May 2291,904377,92368,84163,184601,852
Charge for year14,41523,0045542,84340,816
At 30 April 23106,319400,92769,39566,027642,668
Net book value
At 30 April 23-69,0111,6648,53079,205
At 30 April 2214,41592,0152,21811,373120,021
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 May 22216,644216,644
Disposals(216,644)(216,644)
Net book value
At 30 April 23--
At 30 April 22216,644216,644

Notes

1Other investments other than loans
7.Revaluation of fixed asset investments
The investments have been fully disposed at the year end

2023

2022

££
Other investments other than loans0216,644
8.Description of financial commitments other than capital commitments
Secured Debts The company's liabilities to National Westminster Bank PLC are secured by way of fixed and floating charges on the company's assets.
9.Description of nature of transactions and balances with related parties
Ultimate Controlling Party The company is wholly owned by DagwoodLinnetts Ltd, a company which is registered and trades in the UK.
10.Debtors within one year

2023

2022

££
Other debtors324,529325,565
Total324,529325,565
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,852609
Other creditors2,48170,277
Total8,33370,886
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)12,75820,192
Total12,75820,192