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REGISTERED NUMBER: 01469836 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Anglitemp Limited

Anglitemp Limited (Registered number: 01469836)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Anglitemp Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G J Lough





REGISTERED OFFICE: Unit A3
Third Avenue
Tyne Tunnel Trading Estate
North Shields
Tyne and Wear
NE29 7SW





REGISTERED NUMBER: 01469836 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Anglitemp Limited (Registered number: 01469836)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,439,260 1,494,194

CURRENT ASSETS
Stocks 5 485,117 586,030
Debtors 6 1,168,565 697,703
1,653,682 1,283,733
CREDITORS
Amounts falling due within one year 7 1,993,166 1,687,842
NET CURRENT LIABILITIES (339,484 ) (404,109 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,099,776

1,090,085

CREDITORS
Amounts falling due after more than one
year

8

(411,170

)

(624,899

)

PROVISIONS FOR LIABILITIES (155,012 ) (91,877 )
NET ASSETS 533,594 373,309

Anglitemp Limited (Registered number: 01469836)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Revaluation reserve 11 90,233 90,233
Retained earnings 433,361 273,076
SHAREHOLDERS' FUNDS 533,594 373,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





G J Lough - Director


Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Anglitemp 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 financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest pound.

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is made up of income generated from the manufacture & Fabrication of Cryogenic and high temperature insulation systems.

Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership. It is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance per annum
Fixtures and fittings - 25% on reducing balance per annum

Depreciation is not provided on Freehold property as the building is valued at higher than cost, by independent valuer, with the exception of any alterations which have depreciation charged at 5% straight line.


Tangible assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 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.

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.

Hire purchase and leasing commitments
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 or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 720,437 2,141,235 52,114 2,913,786
Additions 10,300 55,198 16,980 82,478
At 31 March 2024 730,737 2,196,433 69,094 2,996,264
DEPRECIATION
At 1 April 2023 1,337 1,383,101 35,154 1,419,592
Charge for year 1,281 128,518 7,613 137,412
At 31 March 2024 2,618 1,511,619 42,767 1,557,004
NET BOOK VALUE
At 31 March 2024 728,119 684,814 26,327 1,439,260
At 31 March 2023 719,100 758,134 16,960 1,494,194

Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2020 90,233 - - 90,233
Cost 640,504 2,196,433 69,094 2,906,031
730,737 2,196,433 69,094 2,996,264

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 410,046
DEPRECIATION
At 1 April 2023 113,155
Charge for year 19,357
At 31 March 2024 132,512
NET BOOK VALUE
At 31 March 2024 277,534
At 31 March 2023 296,891

5. STOCKS
2024 2023
£    £   
Stocks 485,117 586,030

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 846,894 607,944
Other debtors 321,671 89,759
1,168,565 697,703

Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 395,381 422,680
Hire purchase contracts 43,735 51,303
Trade creditors 1,030,649 825,329
Taxation and social security 290,126 75,611
Other creditors 233,275 312,919
1,993,166 1,687,842

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 289,118 465,954
Hire purchase contracts 122,052 158,945
411,170 624,899

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 462,833 639,669

Bank Loans are secured by First Legal Charge over the property Unit A3, Third Avenue, Tyne Tunnel Trading Estate, North Shields, Tyne & Wear, NE29 7SW.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

Anglitemp Limited (Registered number: 01469836)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 90,233

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Megastone Limited.

Megastone Limited is regarded by the director as being the company's ultimate parent company & controlling party. Anglitemp limited is a whole owned subsidiary of Megastone Limited.