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REGISTERED NUMBER: 02634482 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

VIKING EXTRUSIONS LIMITED

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIKING EXTRUSIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: R F Luff
P C Vernon
M P Bishop
G H Vernon
A R Luff





SECRETARY: P C Vernon





REGISTERED OFFICE: Unit 4 Ivy Arch Road
Worthing
West Sussex
BN14 8BX





REGISTERED NUMBER: 02634482 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 47,459 44,660
Tangible assets 4 1,026,068 1,074,285
1,073,527 1,118,945

CURRENT ASSETS
Stocks 5 255,748 346,025
Debtors 6 551,124 480,774
Cash at bank and in hand 383,686 250,689
1,190,558 1,077,488
CREDITORS
Amounts falling due within one year 7 501,922 344,770
NET CURRENT ASSETS 688,636 732,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,762,163

1,851,663

CREDITORS
Amounts falling due after more than one
year

8

(7,571

)

(17,625

)

PROVISIONS FOR LIABILITIES (155,772 ) (163,701 )
NET ASSETS 1,598,820 1,670,337

CAPITAL AND RESERVES
Called up share capital 18,800 20,001
Revaluation reserve 10 460,943 460,943
Capital redemption reserve 1,201 -
Retained earnings 1,117,876 1,189,393
1,598,820 1,670,337

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

BALANCE SHEET - continued
31 AUGUST 2024


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 26 November 2024 and were signed on its behalf by:





G H Vernon - Director


VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. 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.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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 - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 September 2023 51,916
Additions 8,880
At 31 August 2024 60,796
AMORTISATION
At 1 September 2023 7,256
Amortisation for year 6,081
At 31 August 2024 13,337
NET BOOK VALUE
At 31 August 2024 47,459
At 31 August 2023 44,660

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 September 2023 935,000 474,077 48,531
Additions - 1,692 9,990
Disposals - (244,100 ) (27,179 )
At 31 August 2024 935,000 231,669 31,342
DEPRECIATION
At 1 September 2023 24,301 384,227 37,057
Charge for year 16,501 21,317 4,977
Eliminated on disposal - (237,826 ) (25,622 )
At 31 August 2024 40,802 167,718 16,412
NET BOOK VALUE
At 31 August 2024 894,198 63,951 14,930
At 31 August 2023 910,699 89,850 11,474

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 64,617 58,451 1,580,676
Additions - 12,193 23,875
Disposals - (35,491 ) (306,770 )
At 31 August 2024 64,617 35,153 1,297,781
DEPRECIATION
At 1 September 2023 16,154 44,652 506,391
Charge for year 12,116 5,552 60,463
Eliminated on disposal - (31,693 ) (295,141 )
At 31 August 2024 28,270 18,511 271,713
NET BOOK VALUE
At 31 August 2024 36,347 16,642 1,026,068
At 31 August 2023 48,463 13,799 1,074,285

Cost or valuation at 31 August 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2016 230,000 - -
Valuation in 2021 64,930 - -
Cost 640,070 231,669 31,342
935,000 231,669 31,342

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2016 - - 230,000
Valuation in 2021 - - 64,930
Cost 64,617 35,153 1,002,851
64,617 35,153 1,297,781

5. STOCKS
2024 2023
£    £   
Stocks 255,748 346,025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 519,780 434,229
Other debtors 1,274 19,220
Prepayments and accrued income 30,070 27,325
551,124 480,774

VIKING EXTRUSIONS LIMITED (REGISTERED NUMBER: 02634482)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 108,425 112,062
Tax 98,409 88,580
Social security and other taxes 34,077 18,088
VAT 68,573 54,555
Other creditors 130,265 23,067
Directors' loan accounts 13,915 -
Accrued expenses 37,610 37,770
501,922 344,770

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,571 10,648
Bank loans - 2-5 years - 6,977
7,571 17,625

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 756 756
Between one and five years 1,512 2,268
2,268 3,024

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 460,943

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, R Luff increased his loan to the company. As at 31 August 2024, the company owed him £13,915. (2023: £Nil.). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

As there is no majority shareholder the company is controlled by the Board.