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REGISTERED NUMBER: 04077953 (England and Wales)



















LAMINVALE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






LAMINVALE LTD (REGISTERED NUMBER: 04077953)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


LAMINVALE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr C M Hamson





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 04077953 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

LAMINVALE LTD (REGISTERED NUMBER: 04077953)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 44,545 50,538
44,545 50,538

CURRENT ASSETS
Stocks 136,586 184,893
Debtors 6 679,673 650,375
Cash at bank and in hand 21,501 68,796
837,760 904,064
CREDITORS
Amounts falling due within one year 7 347,968 311,369
NET CURRENT ASSETS 489,792 592,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,337

643,233

CREDITORS
Amounts falling due after more than one
year

8

-

(83,602

)

PROVISIONS FOR LIABILITIES (2,018 ) (1,864 )
NET ASSETS 532,319 557,767

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 532,219 557,667
SHAREHOLDERS' FUNDS 532,319 557,767

LAMINVALE LTD (REGISTERED NUMBER: 04077953)

BALANCE SHEET - continued
31 MAY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 February 2024 and were signed by:





Mr C M Hamson - Director


LAMINVALE LTD (REGISTERED NUMBER: 04077953)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Laminvale 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over its estimated useful life of ten years.

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.

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 - Straight line over 15 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation, Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

LAMINVALE LTD (REGISTERED NUMBER: 04077953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 30,000
AMORTISATION
At 1 June 2022
and 31 May 2023 30,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

The goodwill recognised in these accounts arose upon the purchase of the business from Mrs S J Hamson trading as 'Hamson Marketing' on 1 November 2003.

LAMINVALE LTD (REGISTERED NUMBER: 04077953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 106,055 18,437 23,059 16,635 164,186
Additions - - - 3,168 3,168
At 31 May 2023 106,055 18,437 23,059 19,803 167,354
DEPRECIATION
At 1 June 2022 62,377 16,441 20,772 14,058 113,648
Charge for year 7,428 499 457 777 9,161
At 31 May 2023 69,805 16,940 21,229 14,835 122,809
NET BOOK VALUE
At 31 May 2023 36,250 1,497 1,830 4,968 44,545
At 31 May 2022 43,678 1,996 2,287 2,577 50,538

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,630 59,901
Other debtors 4,139 4,139
Directors' current accounts 491,519 442,087
Corporation tax 160,576 143,892
Prepayments and accrued income 809 356
679,673 650,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 113,534 42,634
Payments on account - 2,657
Trade creditors 37,567 34,925
Corporation tax 157,474 175,177
Social security and other taxes 89 2,027
VAT 6,826 19,964
Other creditors 2,318 2,670
Accruals and deferred income 30,160 31,315
347,968 311,369

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 83,602

LAMINVALE LTD (REGISTERED NUMBER: 04077953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr C M Hamson and Mrs S J Hamson (Dec'd)
Balance outstanding at start of year 442,087 396,642
Amounts advanced 53,392 49,405
Amounts repaid (3,960 ) (3,960 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 491,519 442,087

11. RELATED PARTY DISCLOSURES

At 31 May 2023 the company was owed £491,519 (2022: £442,087) from the Directors.

Interest of 2.00% has been charged on this loan.