2022-11-012023-10-312023-10-31false01454613Lancashire Board & Paper Co. Limited2024-01-1617120iso4217:GBPxbrli:pure014546132022-11-01014546132023-10-31014546132022-11-012023-10-31014546132021-11-01014546132022-10-31014546132021-11-012022-10-3101454613bus:SmallEntities2022-11-012023-10-3101454613bus:AuditExempt-NoAccountantsReport2022-11-012023-10-3101454613bus:FullAccounts2022-11-012023-10-3101454613bus:PrivateLimitedCompanyLtd2022-11-012023-10-3101454613core:WithinOneYear2023-10-3101454613core:AfterOneYear2023-10-3101454613core:WithinOneYear2022-10-3101454613core:AfterOneYear2022-10-3101454613core:ShareCapital2023-10-3101454613core:SharePremium2023-10-3101454613core:RevaluationReserve2023-10-3101454613core:OtherReservesSubtotal2023-10-3101454613core:RetainedEarningsAccumulatedLosses2023-10-3101454613core:ShareCapital2022-10-3101454613core:SharePremium2022-10-3101454613core:RevaluationReserve2022-10-3101454613core:OtherReservesSubtotal2022-10-3101454613core:RetainedEarningsAccumulatedLosses2022-10-3101454613core:LandBuildings2023-10-3101454613core:PlantMachinery2023-10-3101454613core:Vehicles2023-10-3101454613core:FurnitureFittings2023-10-3101454613core:OfficeEquipment2023-10-3101454613core:NetGoodwill2023-10-3101454613core:IntangibleAssetsOtherThanGoodwill2023-10-3101454613core:ListedExchangeTraded2023-10-3101454613core:UnlistedNon-exchangeTraded2023-10-3101454613core:LandBuildings2022-10-3101454613core:PlantMachinery2022-10-3101454613core:Vehicles2022-10-3101454613core:FurnitureFittings2022-10-3101454613core:OfficeEquipment2022-10-3101454613core:NetGoodwill2022-10-3101454613core:IntangibleAssetsOtherThanGoodwill2022-10-3101454613core:ListedExchangeTraded2022-10-3101454613core:UnlistedNon-exchangeTraded2022-10-3101454613core:LandBuildings2022-11-012023-10-3101454613core:PlantMachinery2022-11-012023-10-3101454613core:Vehicles2022-11-012023-10-3101454613core:FurnitureFittings2022-11-012023-10-3101454613core:OfficeEquipment2022-11-012023-10-3101454613core:NetGoodwill2022-11-012023-10-3101454613core:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3101454613core:ListedExchangeTraded2022-11-012023-10-3101454613core:UnlistedNon-exchangeTraded2022-11-012023-10-3101454613core:MoreThanFiveYears2022-11-012023-10-3101454613core:Non-currentFinancialInstruments2023-10-3101454613core:Non-currentFinancialInstruments2022-10-3101454613dpl:CostSales2022-11-012023-10-3101454613dpl:DistributionCosts2022-11-012023-10-3101454613core:LandBuildings2022-11-012023-10-3101454613core:PlantMachinery2022-11-012023-10-3101454613core:Vehicles2022-11-012023-10-3101454613core:FurnitureFittings2022-11-012023-10-3101454613core:OfficeEquipment2022-11-012023-10-3101454613dpl:AdministrativeExpenses2022-11-012023-10-3101454613core:NetGoodwill2022-11-012023-10-3101454613core:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3101454613dpl:GroupUndertakings2022-11-012023-10-3101454613dpl:ParticipatingInterests2022-11-012023-10-3101454613dpl:GroupUndertakingscore:ListedExchangeTraded2022-11-012023-10-3101454613core:ListedExchangeTraded2022-11-012023-10-3101454613dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-11-012023-10-3101454613core:UnlistedNon-exchangeTraded2022-11-012023-10-3101454613dpl:CostSales2021-11-012022-10-3101454613dpl:DistributionCosts2021-11-012022-10-3101454613core:LandBuildings2021-11-012022-10-3101454613core:PlantMachinery2021-11-012022-10-3101454613core:Vehicles2021-11-012022-10-3101454613core:FurnitureFittings2021-11-012022-10-3101454613core:OfficeEquipment2021-11-012022-10-3101454613dpl:AdministrativeExpenses2021-11-012022-10-3101454613core:NetGoodwill2021-11-012022-10-3101454613core:IntangibleAssetsOtherThanGoodwill2021-11-012022-10-3101454613dpl:GroupUndertakings2021-11-012022-10-3101454613dpl:ParticipatingInterests2021-11-012022-10-3101454613dpl:GroupUndertakingscore:ListedExchangeTraded2021-11-012022-10-3101454613core:ListedExchangeTraded2021-11-012022-10-3101454613dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-11-012022-10-3101454613core:UnlistedNon-exchangeTraded2021-11-012022-10-3101454613core:NetGoodwill2023-10-3101454613core:IntangibleAssetsOtherThanGoodwill2023-10-3101454613core:LandBuildings2023-10-3101454613core:PlantMachinery2023-10-3101454613core:Vehicles2023-10-3101454613core:FurnitureFittings2023-10-3101454613core:OfficeEquipment2023-10-3101454613core:AfterOneYear2023-10-3101454613core:WithinOneYear2023-10-3101454613core:ListedExchangeTraded2023-10-3101454613core:UnlistedNon-exchangeTraded2023-10-3101454613core:ShareCapital2023-10-3101454613core:SharePremium2023-10-3101454613core:RevaluationReserve2023-10-3101454613core:OtherReservesSubtotal2023-10-3101454613core:RetainedEarningsAccumulatedLosses2023-10-3101454613core:NetGoodwill2022-10-3101454613core:IntangibleAssetsOtherThanGoodwill2022-10-3101454613core:LandBuildings2022-10-3101454613core:PlantMachinery2022-10-3101454613core:Vehicles2022-10-3101454613core:FurnitureFittings2022-10-3101454613core:OfficeEquipment2022-10-3101454613core:AfterOneYear2022-10-3101454613core:WithinOneYear2022-10-3101454613core:Liste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Lancashire Board & Paper Co. Limited

Registered Number
01454613
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Lancashire Board & Paper Co. Limited
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

THANE Barry

Company Secretary

THANE, Helen Jayne

Registered Address

Balderstone Lane
Heasandford Industrial Estate
Burnley
BB10 2AL

Registered Number

01454613 (England and Wales)
Lancashire Board & Paper Co. Limited
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,559,5781,314,407
Investments710081,000
1,559,6781,395,407
Current assets
Stocks11264,724291,101
Debtors122,509,1972,842,278
Cash at bank and on hand246,883380,002
3,020,8043,513,381
Creditors amounts falling due within one year13(1,901,545)(2,252,303)
Net current assets (liabilities)1,119,2591,261,078
Total assets less current liabilities2,678,9372,656,485
Creditors amounts falling due after one year14(79,517)(126,666)
Provisions for liabilities15(287,600)(279,600)
Net assets2,311,8202,250,219
Capital and reserves
Called up share capital3,1253,125
Other reserves1,8751,875
Profit and loss account2,306,8202,245,219
Shareholders' funds2,311,8202,250,219
The financial statements were approved and authorised for issue by the Director on 16 January 2024, and are signed on its behalf by:
THANE Barry
Director
Registered Company No. 01454613
Lancashire Board & Paper Co. Limited
Notes to the Financial Statements
for the year ended 31 October 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.Smallest group in which results are consolidated
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. The parent company is Bellann Board and Packaging Limited, a company incorporated in England and Wales, company number 06368556.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Leases policy
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
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 Income Statement.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
5.Employee information

20232022
Average number of employees during the year4038
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 November 2256,8473,247,100289,1003,593,047
Additions29,300371,193130,974531,467
Disposals-(127,566)(66,578)(194,144)
At 31 October 2386,1473,490,727353,4963,930,370
Depreciation and impairment
At 01 November 22-2,175,405103,2352,278,640
Charge for year7,883207,66249,960265,505
On disposals-(124,702)(48,651)(173,353)
At 31 October 237,8832,258,365104,5442,370,792
Net book value
At 31 October 2378,2641,232,362248,9521,559,578
At 31 October 2256,8471,071,695185,8651,314,407
7.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 November 2281,00081,000
Revaluations(80,900)(80,900)
At 31 October 23100100
Net book value
At 31 October 23100100
At 31 October 2281,00081,000

Notes

1Investments in group undertakings and participating interests
8.Description of financial commitments other than capital commitments
At 31 October 2023, the company had future minimum lease payments under non-cancellable operating leases of £87,984 (2022 : £247,142) in relation to motor vehicles and £2,553,532 (2022 : £2,070,000) in relation to rent payable to its parent company, Bellann Board and Packaging Limited.
9.Contingent liabilities, including financial effect, uncertainties and possible reimbursement
The company operates within a VAT Group, this results in the company being jointly and severally liable for the debts of the group.
10.Off balance sheet pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £104,359 (2022 : £98,551)
11.Stocks

2023

2022

££
Raw materials and consumables124,141121,204
Work in progress24,45828,171
Finished goods116,125141,726
Total264,724291,101
12.Debtors

2023

2022

££
Trade debtors / trade receivables1,315,0391,565,292
Amounts owed by group undertakings1,170,5581,164,899
Other debtors-45,714
Prepayments and accrued income23,60066,373
Total2,509,1972,842,278
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,120,6771,379,198
Taxation and social security185,740124,078
Finance lease and HP contracts47,699121,809
Other creditors274,864502,033
Accrued liabilities and deferred income272,565125,185
Total1,901,5452,252,303
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts are secured on the assets to which they relate.
14.Creditors after one year

2023

2022

££
Other creditors79,517126,666
Total79,517126,666
The above are HP contracts and are secured on the assets to which they relate.
15.Provisions for liabilities
The deferred tax provision relates to accelerated capital allowances.

2023

2022

££
Net deferred tax liability (asset)287,600279,600
Total287,600279,600