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REGISTERED NUMBER: 05216669 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

LINE INDUSTRIES LIMITED

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

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

Chartered Accountants' Report 6

LINE INDUSTRIES LIMITED

Company Information
for the year ended 31 August 2023







Directors: J M Gedny
Ms D Hollings





Secretary: Ms D Hollings





Registered office: G.05 Northside Studios
16-29 Andrews Road
London
E8 4QF





Registered number: 05216669 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 7,708 10,208
Tangible assets 5 123,659 127,154
131,367 137,362

Current assets
Debtors 6 730,575 266,822
Cash at bank and in hand 84,838 511,574
815,413 778,396
Creditors
Amounts falling due within one year 7 179,450 170,400
Net current assets 635,963 607,996
Total assets less current liabilities 767,330 745,358

Creditors
Amounts falling due after more than one
year

8

97,447

154,133
Net assets 669,883 591,225

Capital and reserves
Called up share capital 9 100 100
Retained earnings 669,783 591,125
Shareholders' funds 669,883 591,225

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




J M Gedny - Director


LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements
for the year ended 31 August 2023


1. Statutory information

Line Industries 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - Straight line over 10 years
Plant and machinery - Straight line over 3 years

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 8 (2022 - 8 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 September 2022
and 31 August 2023 50,000
Amortisation
At 1 September 2022 39,792
Amortisation for year 2,500
At 31 August 2023 42,292
Net book value
At 31 August 2023 7,708
At 31 August 2022 10,208

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


5. Tangible fixed assets
Freehold Improvements Plant and
property to property machinery Totals
£ £ £ £
Cost
At 1 September 2022 133,133 53,236 84,012 270,381
Additions - - 748 748
At 31 August 2023 133,133 53,236 84,760 271,129
Depreciation
At 1 September 2022 7,840 53,236 82,151 143,227
Charge for year 2,313 - 1,930 4,243
At 31 August 2023 10,153 53,236 84,081 147,470
Net book value
At 31 August 2023 122,980 - 679 123,659
At 31 August 2022 125,293 - 1,861 127,154

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 27,945 66,192
Other debtors 702,630 200,630
730,575 266,822

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,258 18,669
Taxation and social security 55,417 37,776
Other creditors 120,775 113,955
179,450 170,400

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 97,447 154,133

9. Called up share capital

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

10. Related party disclosures

As at 31 August 2023, J M Gedny and D C Hollings, directors and shareholders of the company, were owed £63,515 (2022:£62,929) by the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Line Industries Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Line Industries Limited for the year ended 31 August 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Line Industries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Line Industries Limited and state those matters that we have agreed to state to the Board of Directors of Line Industries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Line Industries Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Line Industries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Line Industries Limited. You consider that Line Industries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Line Industries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY


3 April 2024