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REGISTERED NUMBER: 00606574 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JULY 2023 TO 31 DECEMBER 2023

FOR

CANLIN CASTINGS LIMITED

CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CANLIN CASTINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023







DIRECTORS: Mr D A Carlin
Mrs J Carlin





REGISTERED OFFICE: Eastview Terrace Off North Street
Langley Mill
Nottingham
Nottinghamshire
NG16 4DF





REGISTERED NUMBER: 00606574 (England and Wales)

CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

BALANCE SHEET
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 178,316 107,836

CURRENT ASSETS
Stocks 5 83,037 90,344
Debtors 6 1,140,554 1,244,035
Cash at bank and in hand 102,562 132,963
1,326,153 1,467,342
CREDITORS
Amounts falling due within one year 7 244,672 330,484
NET CURRENT ASSETS 1,081,481 1,136,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,259,797

1,244,694

CREDITORS
Amounts falling due after more than one
year

8

(64,828

)

(46,400

)

PROVISIONS FOR LIABILITIES (42,993 ) (19,246 )
NET ASSETS 1,151,976 1,179,048

CAPITAL AND RESERVES
Called up share capital 10 700 700
Capital redemption reserve 1,300 1,300
Retained earnings 1,149,976 1,177,048
SHAREHOLDERS' FUNDS 1,151,976 1,179,048

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:





Mr D A Carlin - Director


CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

Canlin Castings 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 15 years
Plant and machinery - 20% - 25% straight line
Fixtures and fittings - 20% - 25% straight line
Motor vehicles - 20% on cost
Computer equipment - 25% on cost
Freehold land - not depreciated

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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Comparative figures
The comparative figures are for the 12 month period of trading to 30 June 2023. The current figures represent a 6 month period of trading to 31 December 2023.

CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Pensions
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 payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 877,415 113,190 80,512 12,473 1,083,590
Additions 43,910 16,199 42,215 2,169 104,493
Disposals (25,550 ) - (27,900 ) - (53,450 )
At 31 December 2023 895,775 129,389 94,827 14,642 1,134,633
DEPRECIATION
At 1 July 2023 793,639 112,755 60,667 8,693 975,754
Charge for period 16,257 2,001 4,867 1,123 24,248
Eliminated on disposal (25,550 ) - (18,135 ) - (43,685 )
At 31 December 2023 784,346 114,756 47,399 9,816 956,317
NET BOOK VALUE
At 31 December 2023 111,429 14,633 47,428 4,826 178,316
At 30 June 2023 83,776 435 19,845 3,780 107,836

5. STOCKS
2023 2023
£    £   
Stocks 83,037 90,344

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 224,150 340,903
Amounts owed by group undertakings 882,747 873,636
Prepayments 33,657 29,496
1,140,554 1,244,035

CANLIN CASTINGS LIMITED (REGISTERED NUMBER: 00606574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 33,245 13,322
Trade creditors 138,855 182,728
Taxation 17,545 17,545
Paye/Ni payable 6,850 6,840
VAT 26,158 35,565
Wages creditor 2,439 9,545
Accruals and deferred income 9,580 54,939
244,672 330,484

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,833 10,833
Hire purchase contracts 48,995 25,567
64,828 46,400

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Hire purchase contracts 82,241 38,888

Hire purchase contracts are secured upon the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
700 Ordinary £1 700 700

11. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Owl Holdings Limited. The registered office and principal place of business of Owl Holdings Limited is 1 Lodge Lane, Woodlinkin, Langley Mill, Nottinghamshire, England NG16 4HH.

The company is the subsidiary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.