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REGISTERED NUMBER: 10885873 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Ingospec Aluminium Limited

Ingospec Aluminium Limited (Registered number: 10885873)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ingospec Aluminium Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J A Jones
C Jones





REGISTERED OFFICE: Anchor Works
Anchor Road
Coseley
Wolverhampton
West Midlands
WV14 9NA





REGISTERED NUMBER: 10885873 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Ingospec Aluminium Limited (Registered number: 10885873)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 290,163 272,795

CURRENT ASSETS
Stocks 785,297 666,017
Debtors 5 1,886,347 2,587,375
Cash at bank 937,772 6,654
3,609,416 3,260,046
CREDITORS
Amounts falling due within one year 6 2,927,291 2,438,417
NET CURRENT ASSETS 682,125 821,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

972,288

1,094,424

CREDITORS
Amounts falling due after more than one
year

7

(116,158

)

(169,040

)

PROVISIONS FOR LIABILITIES 10 (64,341 ) (51,831 )
NET ASSETS 791,789 873,553

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 791,689 873,453
SHAREHOLDERS' FUNDS 791,789 873,553

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

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

Ingospec Aluminium Limited (Registered number: 10885873)

Balance Sheet - continued
31 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 Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:




C Jones - Director



J A Jones - Director


Ingospec Aluminium Limited (Registered number: 10885873)

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

1. STATUTORY INFORMATION

Ingospec Aluminium 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.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at their fair value received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised using the accruals model and where relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised as income for the period in which they become receivable.

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.


Ingospec Aluminium Limited (Registered number: 10885873)

Notes to the Financial Statements - continued
for the Year Ended 31 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 13 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 352,308 96,896 449,204
Additions 47,598 66,490 114,088
At 31 July 2024 399,906 163,386 563,292
DEPRECIATION
At 1 August 2023 152,185 24,224 176,409
Charge for year 61,930 34,790 96,720
At 31 July 2024 214,115 59,014 273,129
NET BOOK VALUE
At 31 July 2024 185,791 104,372 290,163
At 31 July 2023 200,123 72,672 272,795

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,557,465 1,871,899
Other debtors 328,882 715,476
1,886,347 2,587,375

Ingospec Aluminium Limited (Registered number: 10885873)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 10,000 16,735
Hire purchase contracts (see note 8) 46,535 55,653
Trade creditors 2,147,628 1,432,974
Invoice finance 598,862 545,877
Corporation tax 31,393 29,747
PAYE - employees 5,930 6,182
Pension account - 320
Directors' loan accounts 163 163
Accrued expenses 86,780 350,766
2,927,291 2,438,417

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 8,333 18,333
Hire purchase contracts (see note 8) 107,825 150,707
116,158 169,040

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.24 31.7.23
£    £   
Gross obligations repayable:
Within one year 54,097 63,215
Between one and five years 129,331 180,320
183,428 243,535

Finance charges repayable:
Within one year 7,562 7,562
Between one and five years 21,506 29,613
29,068 37,175

Net obligations repayable:
Within one year 46,535 55,653
Between one and five years 107,825 150,707
154,360 206,360

Ingospec Aluminium Limited (Registered number: 10885873)

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

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 31,200 31,200
Between one and five years 124,800 124,800
In more than five years 13,000 44,200
169,000 200,200

9. SECURED DEBTS

Lloyds Bank Commercial Finance Ltd hold an all assets debenture dated 28 April 2020, containing a fixed and floating charge over the assets of the company.

Lloyds Bank Plc hold a debenture dated 23 April 2021, containing a fixed and floating charge over all the property or undertaking of the company.

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 64,341 51,831

Deferred
tax
£   
Balance at 1 August 2023 51,831
Provided during year 12,510
Balance at 31 July 2024 64,341

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.