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Registered number: 10981711










LINDSTRAND INDUSTRIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LINDSTRAND INDUSTRIES LIMITED
REGISTERED NUMBER: 10981711

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
77,683
97,100

Investments
 5 
662,133
662,133

  
739,816
759,233

  

Creditors: amounts falling due within one year
 6 
(28,311)
(62,063)

Net current liabilities
  
 
 
(28,311)
 
 
(62,063)

Total assets less current liabilities
  
711,505
697,170

  

Net assets
  
711,505
697,170


Capital and reserves
  

Called up share capital 
 7 
200
200

Share premium account
  
662,082
662,082

Profit and loss account
  
49,223
34,888

  
711,505
697,170


Page 1

 
LINDSTRAND INDUSTRIES LIMITED
REGISTERED NUMBER: 10981711
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr Ofir Miller
Director

Date: 30 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LINDSTRAND INDUSTRIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Lindstrand Industries Limited, is a private limited company, incorporated in England and Wales, with its
registered office and principal place of business at Factory 2, Maesbury Road, Oswestry, SY10 8GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

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.

Page 3

 
LINDSTRAND INDUSTRIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance
Office equipment
-
20%
reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Creditors

Short-term 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.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 4

 
LINDSTRAND INDUSTRIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
173,036
26,581
27,756
227,373



At 31 December 2023

173,036
26,581
27,756
227,373



Depreciation


At 1 January 2023
98,767
15,694
15,812
130,273


Charge for the year on owned assets
14,851
2,177
2,389
19,417



At 31 December 2023

113,618
17,871
18,201
149,690



Net book value



At 31 December 2023
59,418
8,710
9,555
77,683



At 31 December 2022
74,269
10,887
11,944
97,100


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
662,133



At 31 December 2023
662,133




Page 5

 
LINDSTRAND INDUSTRIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
17,003
60,143

Taxation and other social security
7,283
-

Accruals and deferred income
4,025
1,920

28,311
62,063



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £1.00 each
200
200


 
Page 6