IRIS Accounts Production v24.3.0.553 05783148 Board of Directors Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057831482023-04-30057831482024-04-30057831482023-05-012024-04-30057831482022-04-30057831482022-05-012023-04-30057831482023-04-3005783148ns15:EnglandWales2023-05-012024-04-3005783148ns14:PoundSterling2023-05-012024-04-3005783148ns10:Director12023-05-012024-04-3005783148ns10:Director22023-05-012024-04-3005783148ns10:Director32023-05-012024-04-3005783148ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005783148ns10:SmallEntities2023-05-012024-04-3005783148ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005783148ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005783148ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005783148ns10:FullAccounts2023-05-012024-04-300578314812023-05-012024-04-3005783148ns10:CompanySecretary12023-05-012024-04-3005783148ns10:RegisteredOffice2023-05-012024-04-3005783148ns5:CurrentFinancialInstruments2024-04-3005783148ns5:CurrentFinancialInstruments2023-04-3005783148ns5:Non-currentFinancialInstruments2024-04-3005783148ns5:Non-currentFinancialInstruments2023-04-3005783148ns5:ShareCapital2024-04-3005783148ns5:ShareCapital2023-04-3005783148ns5:RetainedEarningsAccumulatedLosses2024-04-3005783148ns5:RetainedEarningsAccumulatedLosses2023-04-3005783148ns5:NetGoodwill2023-05-012024-04-3005783148ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-05-012024-04-3005783148ns5:PlantMachinery2023-05-012024-04-3005783148ns5:FurnitureFittings2023-05-012024-04-3005783148ns5:ComputerEquipment2023-05-012024-04-3005783148ns5:NetGoodwill2023-04-3005783148ns5:NetGoodwill2024-04-3005783148ns5:NetGoodwill2023-04-3005783148ns5:LandBuildings2023-04-3005783148ns5:PlantMachinery2023-04-3005783148ns5:FurnitureFittings2023-04-3005783148ns5:ComputerEquipment2023-04-3005783148ns5:LandBuildings2023-05-012024-04-3005783148ns5:LandBuildings2024-04-3005783148ns5:PlantMachinery2024-04-3005783148ns5:FurnitureFittings2024-04-3005783148ns5:ComputerEquipment2024-04-3005783148ns5:LandBuildings2023-04-3005783148ns5:PlantMachinery2023-04-3005783148ns5:FurnitureFittings2023-04-3005783148ns5:ComputerEquipment2023-04-3005783148ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005783148ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3005783148ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3005783148ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3005783148ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3005783148ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3005783148ns5:WithinOneYear2024-04-3005783148ns5:WithinOneYear2023-04-3005783148ns5:Secured2024-04-3005783148ns5:Secured2023-04-30
REGISTERED NUMBER: 05783148 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

LOXWOOD INDUSTRIAL PAPERS LIMITED

LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOXWOOD INDUSTRIAL PAPERS LIMITED

Company Information
for the Year Ended 30th April 2024







DIRECTORS: Mr R Loram
Mr R Loram-Spring
Mr H Loram





SECRETARY: Mrs H Loram





REGISTERED OFFICE: Unit D
Carlinghurst Business Park
Carlinghurst Road
Blackburn
Lancashire
BB2 1PN





REGISTERED NUMBER: 05783148 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Balance Sheet
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 388,701 375,398
388,701 375,398

CURRENT ASSETS
Stocks 125,010 134,592
Debtors 6 340,768 324,921
Cash at bank and in hand 35,224 36,308
501,002 495,821
CREDITORS
Amounts falling due within one year 7 536,069 469,977
NET CURRENT (LIABILITIES)/ASSETS (35,067 ) 25,844
TOTAL ASSETS LESS CURRENT
LIABILITIES

353,634

401,242

CREDITORS
Amounts falling due after more than one
year

8

(233,586

)

(252,155

)

PROVISIONS FOR LIABILITIES (17,364 ) (12,379 )
NET ASSETS 102,684 136,708

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 101,684 135,708
SHAREHOLDERS' FUNDS 102,684 136,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Balance Sheet - continued
30th April 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 16th December 2024 and were signed on its behalf by:




Mr R Loram - Director Mr R Loram-Spring - Director




Mr H Loram - Director


LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Loxwood Industrial Papers 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.

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.

Revenue recognition
Revenue represents the value of goods and services supplied by the company, net of value added tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, 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 - 1% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.3% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
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
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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023
and 30th April 2024 98,632
AMORTISATION
At 1st May 2023
and 30th April 2024 98,632
NET BOOK VALUE
At 30th April 2024 -
At 30th April 2023 -

LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 311,652 167,689 431 1,581 481,353
Additions - 29,794 - 827 30,621
At 30th April 2024 311,652 197,483 431 2,408 511,974
DEPRECIATION
At 1st May 2023 260 104,152 431 1,112 105,955
Charge for year 3,117 14,021 - 180 17,318
At 30th April 2024 3,377 118,173 431 1,292 123,273
NET BOOK VALUE
At 30th April 2024 308,275 79,310 - 1,116 388,701
At 30th April 2023 311,392 63,537 - 469 375,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 283,966 284,168
Amounts due on contracts 56,802 39,753
Prepayments - 1,000
340,768 324,921

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 20,720 19,319
Trade creditors 209,268 140,742
Factoring account 233,974 217,816
Tax 15,592 31,342
Social security and other taxes 23,309 38,260
Other creditors 13,973 713
Directors' current accounts 16,266 18,598
Accrued expenses 2,967 3,187
536,069 469,977

LOXWOOD INDUSTRIAL PAPERS LIMITED (REGISTERED NUMBER: 05783148)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bounce back loan - 1-2 years 10,463 10,206
Mortgage - 1-2 years 11,414 10,040
Bounce back loan - 2-5 years 856 11,309
Mortgage - 2-5 years 36,942 34,717
Mortgage over 5 years 173,911 185,883
233,586 252,155

Amounts falling due in more than five years:

Repayable by instalments
Mortgage over 5 years 173,911 185,883

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year - 11,602

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Factoring account 233,974 217,816
Mortgage 232,781 240,000
466,755 457,816

Factoring account - all monies due to or to become due from the company are secured by a fixed and floating charge over all the present and future assets of the company.

Mortgage - all monies due are secured by a debenture and fixed charge on the property taken out against.

11. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by Mr R Loram, Mr R Loram-Spring and Mr H Loram by virtue of their 100% holding of the company's share capital.