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REGISTERED NUMBER: 09374066 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LINEWORX LIMITED

LINEWORX LIMITED (REGISTERED NUMBER: 09374066)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LINEWORX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S J Chamberlain
H C Smith





REGISTERED OFFICE: Unit 39 Hobbs Industrial Estate
Newchapel
Lingfield
RH7 6HN





REGISTERED NUMBER: 09374066 (England and Wales)





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

LINEWORX LIMITED (REGISTERED NUMBER: 09374066)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,516 118,099

CURRENT ASSETS
Stocks 5 195,570 155,570
Debtors 6 4,101 14,698
Cash at bank 6,838 186,687
206,509 356,955
CREDITORS
Amounts falling due within one year 7 262,481 384,153
NET CURRENT LIABILITIES (55,972 ) (27,198 )
TOTAL ASSETS LESS CURRENT LIABILITIES 31,544 90,901

PROVISIONS FOR LIABILITIES 29,525 29,525
NET ASSETS 2,019 61,376

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,018 61,375
2,019 61,376

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

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

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 29 January 2025 and were signed on its behalf by:




H C Smith - Director



S J Chamberlain - Director


LINEWORX LIMITED (REGISTERED NUMBER: 09374066)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Lineworx 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

LINEWORX LIMITED (REGISTERED NUMBER: 09374066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 55,284 5,806 163,159 224,249
DEPRECIATION
At 1 May 2023 50,735 4,128 51,287 106,150
Charge for year 2,279 336 27,968 30,583
At 30 April 2024 53,014 4,464 79,255 136,733
NET BOOK VALUE
At 30 April 2024 2,270 1,342 83,904 87,516
At 30 April 2023 4,549 1,678 111,872 118,099

5. STOCKS
2024 2023
£    £   
Stocks 195,570 155,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,878 7,750
Amounts owed by group undertakings 250 250
Other debtors 321 320
VAT 1,652 -
Prepayments - 6,378
4,101 14,698

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 212,331 212,196
Tax (2,427 ) 130,043
Social security and other taxes 826 510
VAT - 39,579
Pension payable 1 -
Directors' loan accounts 50,000 -
Accrued expenses 1,750 1,825
262,481 384,153

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr S Chamberlain increased his loan to the company. As at 30 April 2024, the company owed him £50,000 (2023: £nil). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

LINEWORX LIMITED (REGISTERED NUMBER: 09374066)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. ULTIMATE CONTROLLING PARTY

The controlling party is Createch Solutions Limited.

The ultimate controlling party is 50% owned by H Smith and 50% by Olson Solutions Ltd.