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REGISTERED NUMBER: 05216669 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

LINE INDUSTRIES LIMITED

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LINE INDUSTRIES LIMITED

Company Information
for the year ended 31 August 2024







Directors: J M Gedny
D Hollings





Secretary: D Hollings





Registered office: G.05 Northside Studios
16-29 Andrews Road
London
E8 4QF





Registered number: 05216669 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 5,208 7,708
Tangible assets 5 121,300 123,659
126,508 131,367

Current assets
Debtors 6 694,572 730,575
Cash at bank and in hand 42,362 84,838
736,934 815,413
Creditors
Amounts falling due within one year 7 135,514 179,450
Net current assets 601,420 635,963
Total assets less current liabilities 727,928 767,330

Creditors
Amounts falling due after more than one
year

8

-

97,447
Net assets 727,928 669,883

Capital and reserves
Called up share capital 9 100 100
Retained earnings 727,828 669,783
Shareholders' funds 727,928 669,883

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:




J M Gedny - Director


LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements
for the year ended 31 August 2024


1. Statutory information

Line Industries 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - Straight line over 10 years
Plant and machinery - Straight line over 3 years

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 5 (2023 - 8 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023
and 31 August 2024 50,000
Amortisation
At 1 September 2023 42,292
Amortisation for year 2,500
At 31 August 2024 44,792
Net book value
At 31 August 2024 5,208
At 31 August 2023 7,708

LINE INDUSTRIES LIMITED (REGISTERED NUMBER: 05216669)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. Tangible fixed assets
Freehold Improvements Plant and
property to property machinery Totals
£ £ £ £
Cost
At 1 September 2023 133,133 53,236 84,760 271,129
Additions - - 337 337
At 31 August 2024 133,133 53,236 85,097 271,466
Depreciation
At 1 September 2023 10,153 53,236 84,081 147,470
Charge for year 2,314 - 382 2,696
At 31 August 2024 12,467 53,236 84,463 150,166
Net book value
At 31 August 2024 120,666 - 634 121,300
At 31 August 2023 122,980 - 679 123,659

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 48,445 27,945
Other debtors 646,127 702,630
694,572 730,575

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 3,397 3,258
Taxation and social security 49,629 55,417
Other creditors 82,488 120,775
135,514 179,450

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 97,447

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. Related party disclosures

As at 31 August 2024, J M Gedny and D C Hollings, directors and shareholders of the company, were owed £57,287 (2023:£63,515) by the company.