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REGISTERED NUMBER: 01036910 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Scantron Industrial Products Ltd

Scantron Industrial Products Ltd (Registered number: 01036910)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Scantron Industrial Products Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr L H Lindstrand





SECRETARY: Goodwille Limited





REGISTERED OFFICE: 1 Chapel Street
Warwickshire
CV34 4HL





REGISTERED NUMBER: 01036910 (England and Wales)

Scantron Industrial Products Ltd (Registered number: 01036910)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27,779 35,174

CURRENT ASSETS
Stocks 6 412,596 464,428
Debtors 7 171,100 425,181
Cash at bank and in hand 409,768 454,088
993,464 1,343,697
CREDITORS
Amounts falling due within one year 8 94,924 274,779
NET CURRENT ASSETS 898,540 1,068,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

926,319

1,104,092

CREDITORS
Amounts falling due after more than one
year

9

(28,374

)

(94,421

)

PROVISIONS FOR LIABILITIES 10 - (3,415 )
NET ASSETS 897,945 1,006,256

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 897,845 1,006,156
897,945 1,006,256

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 18 December 2024 and were signed by:





Mr L H Lindstrand - Director


Scantron Industrial Products Ltd (Registered number: 01036910)

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

1. STATUTORY INFORMATION

Scantron Industrial Products Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and rebates allowed by the company and value added taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on straight line basis
Plant and machinery - 25% on straight line basis
Fixtures and fittings - 33% on straight line basis and 20% on straight line basis

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Scantron Industrial Products Ltd (Registered number: 01036910)

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

3. ACCOUNTING POLICIES - continued

Going concern
After reviewing the company forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 June 2023 55,532 7,361 73,041 135,934
Additions - - 5,896 5,896
At 31 May 2024 55,532 7,361 78,937 141,830
DEPRECIATION
At 1 June 2023 34,017 6,411 60,332 100,760
Charge for year 5,529 352 7,410 13,291
At 31 May 2024 39,546 6,763 67,742 114,051
NET BOOK VALUE
At 31 May 2024 15,986 598 11,195 27,779
At 31 May 2023 21,515 950 12,709 35,174

6. STOCKS
2024 2023
£    £   
Finished goods 412,596 464,428

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 106,257 409,020
Other debtors 264 -
Deferred tax asset 50,957 -
Prepayments and accrued income 13,622 16,161
171,100 425,181

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 63,439 54,761
Trade creditors 5,515 15,697
Corporation tax - 23,092
Social security and other taxes - 9,084
VAT 7,175 60,422
Other creditors 2,344 2,923
Accruals and deferred income 16,451 108,800
94,924 274,779

Scantron Industrial Products Ltd (Registered number: 01036910)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 28,374 54,761
Bank loans - 2-5 years - 39,660
28,374 94,421

10. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax
Deferred tax 3,415

Deferred
tax
£   
Balance at 1 June 2023 3,415
Provided during year (462 )
Credit to Income Statement during year (53,910 )
Balance at 31 May 2024 (50,957 )

The deferred taxation provision is in respect of the timing differences between capital allowances for tax purposes and depreciation for accounting purposes at the 25% corporation tax rate substantially enacted under the Finance Act.

The deferred tax asset provision of £53,910 relates to the trading losses carried forward into the following period and has been applied at a 25% rate.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr L H Lindstrand.

Mr L H Lindstrand, owns 90% of the shares of the company.