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REGISTERED NUMBER: 04451912 (England and Wales)











Financial Statements

for the Year Ended 31st May 2024

for

N & J Aluminium Linings Ltd

N & J Aluminium Linings Ltd (Registered number: 04451912)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N & J Aluminium Linings Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTORS: N Buchanan
J Buchanan



SECRETARY: J Buchanan



REGISTERED OFFICE: C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ



REGISTERED NUMBER: 04451912 (England and Wales)



ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ



BUSINESS ADDRESS: Units 9, 10 & 11
Deanfield Court
Link 59 Industrial Park
Clitheroe
Lancashire
BB7 1QS

N & J Aluminium Linings Ltd (Registered number: 04451912)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 394,028 342,989
394,028 342,989

CURRENT ASSETS
Inventories 6 214,800 252,000
Debtors 7 168,913 58,646
Cash at bank 192,241 253,399
575,954 564,045
CREDITORS
Amounts falling due within one year 8 277,686 180,768
NET CURRENT ASSETS 298,268 383,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

692,296

726,266

CREDITORS
Amounts falling due after more than one
year

9

31,388

61,388
NET ASSETS 660,908 664,878

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 660,806 664,776
SHAREHOLDERS' FUNDS 660,908 664,878

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

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

N & J Aluminium Linings Ltd (Registered number: 04451912)

Balance Sheet - continued
31st May 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 20th February 2025 and were signed on its behalf by:




N Buchanan - Director



J Buchanan - Director


N & J Aluminium Linings Ltd (Registered number: 04451912)

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


1. STATUTORY INFORMATION

N & J Aluminium Linings 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

N & J Aluminium Linings Ltd (Registered number: 04451912)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 30,000
AMORTISATION
At 1st June 2023
and 31st May 2024 30,000
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st June 2023 336,408 315,162 15,085 666,655
Additions 4,075 107,850 33,569 145,494
Disposals - (34,900 ) - (34,900 )
At 31st May 2024 340,483 388,112 48,654 777,249
DEPRECIATION
At 1st June 2023 212,554 100,659 10,453 323,666
Charge for year 18,888 41,940 7,452 68,280
Eliminated on disposal - (8,725 ) - (8,725 )
At 31st May 2024 231,442 133,874 17,905 383,221
NET BOOK VALUE
At 31st May 2024 109,041 254,238 30,749 394,028
At 31st May 2023 123,854 214,503 4,632 342,989

N & J Aluminium Linings Ltd (Registered number: 04451912)

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


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2023
and 31st May 2024 31,246
DEPRECIATION
At 1st June 2023 21,359
Charge for year 2,472
At 31st May 2024 23,831
NET BOOK VALUE
At 31st May 2024 7,415
At 31st May 2023 9,887

6. INVENTORIES
2024 2023
£    £   
Work-in-progress 32,800 42,000
Stock 182,000 210,000
214,800 252,000

Work in progress is valued at full sales value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,720 32,585
Directors' current accounts 127,582 24,738
Prepayments 4,611 1,323
168,913 58,646

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 101,971 30,000
Hire purchase contracts - 2,989
Trade creditors 79,858 74,243
Corporation tax 47,430 15,785
Social security and other taxes 5,216 4,459
VAT 30,089 39,700
Accrued expenses 13,122 13,592
277,686 180,768

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 30,000 30,000
Bank loans - 2-5 years 1,388 31,388
31,388 61,388

N & J Aluminium Linings Ltd (Registered number: 04451912)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 61,388 91,388

The bank loan is being repaid £2,500 per month (£30,000 annually).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
N Buchanan and J Buchanan
Balance outstanding at start of year 24,738 (91,531 )
Amounts advanced 333,050 234,262
Amounts repaid (230,206 ) (117,993 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 127,582 24,738

As at 31 May 2024 the directors' loan accounts were overdrawn by £127,582. The balance was repaid, in full, in December 2024 by way of 2 bank transfers totalling £130,000.

12. RELATED PARTY DISCLOSURES

The company is paying rent to a SIPP managed by the directors for the use of Units 9, 10 and 11 Deanfield Way, and Unit 11 Deanfield Court, all of Link 59 Business Park, Clitheroe BB& 1QU. The rent is charged at market rate.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N and Mrs J Buchanan.