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REGISTERED NUMBER: 00985021 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st July 2024

for

Scientific Lubricants Limited

Scientific Lubricants Limited (Registered number: 00985021)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scientific Lubricants Limited

Company Information
for the Year Ended 31st July 2024







DIRECTOR: Mrs J Cowgill





SECRETARY: Mrs J Cowgill





REGISTERED OFFICE: Glendene Works
New Hey Road
Outlane
Huddersfield
HD3 3YW





REGISTERED NUMBER: 00985021 (England and Wales)

Scientific Lubricants Limited (Registered number: 00985021)

Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 85,960 90,251

CURRENT ASSETS
Stocks 50,526 35,961
Debtors 5 67,633 77,307
Cash at bank and in hand 502 1,587
118,661 114,855
CREDITORS
Amounts falling due within one year 6 164,125 140,738
NET CURRENT LIABILITIES (45,464 ) (25,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,496

64,368

CREDITORS
Amounts falling due after more than one
year

7

(22,439

)

(26,758

)

PROVISIONS FOR LIABILITIES (12,097 ) (12,487 )
NET ASSETS 5,960 25,123

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Non-distributable reserve 59,054 60,959
Retained earnings (58,094 ) (40,836 )
SHAREHOLDERS' FUNDS 5,960 25,123

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Scientific Lubricants Limited (Registered number: 00985021)

Balance Sheet - continued
31st July 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 director and authorised for issue on 10th April 2025 and were signed by:





Mrs J Cowgill - Director


Scientific Lubricants Limited (Registered number: 00985021)

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

1. STATUTORY INFORMATION

Scientific Lubricants 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Land and Buildings - 2.5% Straight Line Basis
Plant and Equipment - 15% on Reducing Balance
Motor vehicles - 20% on Reducing Balance

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 Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

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.


Scientific Lubricants Limited (Registered number: 00985021)

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

2. ACCOUNTING POLICIES - continued
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
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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st August 2023
and 31st July 2024 101,500 199,480 300,980
DEPRECIATION
At 1st August 2023 20,304 190,425 210,729
Charge for year 2,538 1,753 4,291
At 31st July 2024 22,842 192,178 215,020
NET BOOK VALUE
At 31st July 2024 78,658 7,302 85,960
At 31st July 2023 81,196 9,055 90,251

Scientific Lubricants Limited (Registered number: 00985021)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st July 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
2003
Valuation in 2008 83,551 - 83,551
Cost 9,694 199,480 209,174
101,500 199,480 300,980

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 9,694 9,694
Aggregate depreciation 6,778 6,536

Freehold land and buildings were valued on an open market basis on 23rd May 2008 by Hanson Property Consultants Limited .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 67,122 76,706
Other debtors 511 601
67,633 77,307

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 24,918 10,886
Trade creditors 102,702 93,845
Taxation and social security 20,874 23,879
Other creditors 15,631 12,128
164,125 140,738

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 22,439 26,758

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by instalments 4,131 9,060

Scientific Lubricants Limited (Registered number: 00985021)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank overdrafts 20,590 6,668

The bank borrowings are secured by way of a fixed and floating charge over the assets of the Company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
5,000 Ordinary Shares £1 5,000 5,000

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs J Cowgill.