IRIS Accounts Production v24.3.2.46 03839929 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038399292023-10-31038399292024-10-31038399292023-11-012024-10-31038399292022-10-31038399292022-11-012023-10-31038399292023-10-3103839929ns15:EnglandWales2023-11-012024-10-3103839929ns14:PoundSterling2023-11-012024-10-3103839929ns10:Director12023-11-012024-10-3103839929ns10:Director22023-11-012024-10-3103839929ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3103839929ns10:SmallEntities2023-11-012024-10-3103839929ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3103839929ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3103839929ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3103839929ns10:AbridgedAccounts2023-11-012024-10-310383992912023-11-012024-10-3103839929ns10:Director32023-11-012024-10-3103839929ns10:Director42023-11-012024-10-3103839929ns10:Director52023-11-012024-10-3103839929ns10:CompanySecretary12023-11-012024-10-3103839929ns10:RegisteredOffice2023-11-012024-10-3103839929ns5:CurrentFinancialInstruments2024-10-3103839929ns5:CurrentFinancialInstruments2023-10-3103839929ns5:ShareCapital2024-10-3103839929ns5:ShareCapital2023-10-3103839929ns5:SharePremium2024-10-3103839929ns5:SharePremium2023-10-3103839929ns5:RetainedEarningsAccumulatedLosses2024-10-3103839929ns5:RetainedEarningsAccumulatedLosses2023-10-3103839929ns5:NetGoodwill2023-11-012024-10-3103839929ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3103839929ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-012024-10-3103839929ns5:PlantMachinery2023-11-012024-10-3103839929ns5:FurnitureFittings2023-11-012024-10-3103839929ns5:WithinOneYear2024-10-3103839929ns5:WithinOneYear2023-10-3103839929ns5:BetweenOneFiveYears2024-10-3103839929ns5:BetweenOneFiveYears2023-10-3103839929ns5:MoreThanFiveYears2024-10-3103839929ns5:MoreThanFiveYears2023-10-3103839929ns5:AllPeriods2024-10-3103839929ns5:AllPeriods2023-10-31
REGISTERED NUMBER: 03839929 (England and Wales)













Financial Statements

for the Year Ended 31 October 2024

for

Jointine Products (Lincoln) Limited

Jointine Products (Lincoln) Limited (Registered number: 03839929)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Jointine Products (Lincoln) Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: Mr T J Coffey
Mrs M Coffey
Mrs J A Smith
Mr C A Ramsay



SECRETARY: Mrs M Coffey



REGISTERED OFFICE: Station Road
North Hykeham
LINCOLN
Lincolnshire
LN6 9AU



REGISTERED NUMBER: 03839929 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest Corporate and Commercial Banking
3rd Floor
General Buildings
Brayford Wharf East
LINCOLN
Lincolnshire
LN5 7DS

Jointine Products (Lincoln) Limited (Registered number: 03839929)

Abridged Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,618 265
Tangible assets 5 303,987 258,522
305,605 258,787

CURRENT ASSETS
Stocks 547,422 621,062
Debtors 761,949 792,310
Cash at bank and in hand 684,948 301,075
1,994,319 1,714,447
CREDITORS
Amounts falling due within one year 360,302 184,856
NET CURRENT ASSETS 1,634,017 1,529,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,939,622

1,788,378

PROVISIONS FOR LIABILITIES 64,797 52,256
NET ASSETS 1,874,825 1,736,122

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 204,000 204,000
Retained earnings 1,669,825 1,531,122
SHAREHOLDERS' FUNDS 1,874,825 1,736,122

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

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

Jointine Products (Lincoln) Limited (Registered number: 03839929)

Abridged Statement of Financial Position - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 April 2025 and were signed on its behalf by:




Mr T J Coffey - Director



Mrs J A Smith - Director


Jointine Products (Lincoln) Limited (Registered number: 03839929)

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

1. STATUTORY INFORMATION

Jointine Products (Lincoln) 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life of 10 years.

Intellectual property
Intellectual property is written off in equal instalments over its useful economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 15 years
Plant and machinery - Straight line over 20 years
Fixtures and fittings - 25% on reducing balance

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis.

The cost of work in progress and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity.

Net realisable value is based on estimated selling price less the estimated cost of disposal.

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 statement of financial position date.


Jointine Products (Lincoln) Limited (Registered number: 03839929)

Notes to the Financial Statements - continued
for the year ended 31 October 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 statement of financial position 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 statement of financial position 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.

Leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

Debtors
The company assigned its trade debts to a factor and received payments from the factor in respect of the assigned debts but retained all significant risks. Trade debtors and amounts received from the factor were separately disclosed in debtors respectively. All interest and factoring costs were charged to income as they accrued. Factored debts ceased in the current year.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Jointine Products (Lincoln) Limited (Registered number: 03839929)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 15,155
Additions 1,614
Disposals (7,184 )
At 31 October 2024 9,585
AMORTISATION
At 1 November 2023 14,890
Amortisation for year 261
Eliminated on disposal (7,184 )
At 31 October 2024 7,967
NET BOOK VALUE

At 31 October 2024 1,618
At 31 October 2023 265

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 739,624
Additions 84,073
Disposals (56,295 )
At 31 October 2024 767,402
DEPRECIATION
At 1 November 2023 481,102
Charge for year 29,402
Eliminated on disposal (47,089 )
At 31 October 2024 463,415
NET BOOK VALUE
At 31 October 2024 303,987
At 31 October 2023 258,522

Jointine Products (Lincoln) Limited (Registered number: 03839929)

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

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 131,953 110,500
Between one and five years 488,211 457,000
In more than five years 121,000 248,000
741,164 815,500