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REGISTERED NUMBER: 01392189 (England and Wales)














Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31st August 2024

for

Normanton Laminating Services Limited

Normanton Laminating Services Limited (Registered number: 01392189)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Normanton Laminating Services Limited

Company Information
for the year ended 31st August 2024







DIRECTOR: D N Oates



SECRETARY: Mrs R Timmins



REGISTERED OFFICE: Lincoln Road
Pocklington Industrial Estate
Pocklington
York
YO42 1NR



REGISTERED NUMBER: 01392189 (England and Wales)



AUDITORS: Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: NatWest
1 Market Street
Bradford
BD1 1EG



SOLICITORS: Hamers Solicitors
Waterside Business Park
Livingstone Road
Hessle
HU13 0EJ

Normanton Laminating Services Limited (Registered number: 01392189)

Strategic Report
for the year ended 31st August 2024

The director presents his strategic report for the year ended 31st August 2024.

REVIEW OF BUSINESS
The key performance indicators of turnover, turnover growth, gross profit margin, net profit before taxation and net profit before taxation margin communicate the financial performance of the company as a whole.

The key performance indicators for the current and prior year are as follows:

2024 2023
£ £
Turnover 9,997,333 13,159,687
Turnover growth (24.03% ) 2.32%
Gross profit margin 22.78% 21.90%
Profit before tax 1,416,348 1,936,162
Profit before tax margin 14.17% 14.71%

The company operates largely within the commercial vehicle industry which it supplies from its manufacturing bases in Yorkshire to customers mostly in the UK, though with some exports to Europe and also further afield.

As referred to in the previous annual report, we believe the prior years turnovers had been inflated in part by the post COVID and European war effects on catch up and stock building but these influences seem to have receded and our key market returned to its longer term trend with a resultant fall back in overall sales.

PRINCIPAL RISKS AND UNCERTAINTIES
As a medium sized business, the company can respond quickly to manage risks as they arise. Also, for a business of this size and nature the balance sheet remains comparatively strong and liquid and, with reasonably balanced overseas currency transactions, associated risks to the business are thought to be low.

FUTURE DEVELOPMENTS
The company continues to benefit from its well established and regarded product range and flexible manufacturing expertise, together with high quality and service levels. It also continues to focus on reviewing cost structures and investing in new plant, facilities and continuous improvements to ensure it remains lean and competitive whilst maintaining the above quality and service levels to its customers. We aim to continue this strategy, maintaining core market share whilst seeking viable new product developments and market opportunities both in the UK and overseas.

ON BEHALF OF THE BOARD:





D N Oates - Director


2nd May 2025

Normanton Laminating Services Limited (Registered number: 01392189)

Report of the Director
for the year ended 31st August 2024

The director presents his report with the financial statements of the company for the year ended 31st August 2024.

DIVIDENDS
An interim dividend of £120.33694 per share was paid on 31st August 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31st August 2024 will be £ 500,000 .

DIRECTOR
D N Oates held office during the whole of the period from 1st September 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D N Oates - Director


2nd May 2025

Report of the Independent Auditors to the Members of
Normanton Laminating Services Limited

Opinion
We have audited the financial statements of Normanton Laminating Services Limited (the 'company') for the year ended 31st August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Normanton Laminating Services Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Normanton Laminating Services Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the manufacturing industry;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other informed management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Normanton Laminating Services Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alan Brocklehurst (Senior Statutory Auditor)
for and on behalf of Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX

2nd May 2025

Normanton Laminating Services Limited (Registered number: 01392189)

Statement of Comprehensive
Income
for the year ended 31st August 2024

2024 2023
Notes £    £    £   

TURNOVER 9,997,333 13,159,687

Cost of sales 7,719,860 10,277,211
GROSS PROFIT 2,277,473 2,882,476

Distribution costs 27,358 29,616
Administrative expenses 973,113 959,236
1,000,471 988,852
1,277,002 1,893,624

Other operating income 1,250 1,250
OPERATING PROFIT 5 1,278,252 1,894,874

Interest receivable and similar income 138,096 41,288
PROFIT BEFORE TAXATION 1,416,348 1,936,162

Tax on profit 6 363,669 417,153
PROFIT FOR THE FINANCIAL YEAR 1,052,679 1,519,009

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,052,679

1,519,009

Normanton Laminating Services Limited (Registered number: 01392189)

Balance Sheet
31st August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 931,824 1,063,220
Investments 10 - -
931,824 1,063,220

CURRENT ASSETS
Stocks 11 1,614,460 1,626,912
Debtors 12 1,896,751 2,860,818
Cash at bank 5,496,073 3,667,325
9,007,284 8,155,055
CREDITORS
Amounts falling due within one year 13 2,457,241 2,271,383
NET CURRENT ASSETS 6,550,043 5,883,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,481,867

6,946,892

CREDITORS
Amounts falling due after more than one
year

14

-

(3,018

)

PROVISIONS FOR LIABILITIES 17 (419,772 ) (434,458 )
NET ASSETS 7,062,095 6,509,416

CAPITAL AND RESERVES
Called up share capital 18 4,155 4,155
Share premium 19 16,052 16,052
Capital redemption reserve 19 74,793 74,793
Retained earnings 19 6,967,095 6,414,416
SHAREHOLDERS' FUNDS 7,062,095 6,509,416

The financial statements were approved by the director and authorised for issue on 2nd May 2025 and were signed by:





D N Oates - Director


Normanton Laminating Services Limited (Registered number: 01392189)

Statement of Changes in Equity
for the year ended 31st August 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1st September 2022 4,155 5,395,407 16,052 74,793 5,490,407

Changes in equity
Dividends - (500,000 ) - - (500,000 )
Total comprehensive income - 1,519,009 - - 1,519,009
Balance at 31st August 2023 4,155 6,414,416 16,052 74,793 6,509,416

Changes in equity
Dividends - (500,000 ) - - (500,000 )
Total comprehensive income - 1,052,679 - - 1,052,679
Balance at 31st August 2024 4,155 6,967,095 16,052 74,793 7,062,095

Normanton Laminating Services Limited (Registered number: 01392189)

Cash Flow Statement
for the year ended 31st August 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,584,593 2,157,834
Government grants 1,250 1,250
Tax paid (479,000 ) (460,000 )
Tax refunded 139,830 -
Net cash from operating activities 2,246,673 1,699,084

Cash flows from investing activities
Purchase of tangible fixed assets (47,178 ) (127,717 )
Sale of tangible fixed assets 900 10,583
Interest received 138,096 27,538
Net cash from investing activities 91,818 (89,596 )

Cash flows from financing activities
Capital repayments in year (9,055 ) (9,055 )
Amount introduced by directors - 50
Amount withdrawn by directors (688 ) -
Equity dividends paid (500,000 ) (1,000,000 )
Net cash from financing activities (509,743 ) (1,009,005 )

Increase in cash and cash equivalents 1,828,748 600,483
Cash and cash equivalents at beginning of
year

2

3,667,325

3,066,842

Cash and cash equivalents at end of year 2 5,496,073 3,667,325

Normanton Laminating Services Limited (Registered number: 01392189)

Notes to the Cash Flow Statement
for the year ended 31st August 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,416,348 1,936,162
Depreciation charges 176,929 173,188
Loss/(profit) on disposal of fixed assets 745 (10,583 )
(Decrease)/increase in provisions 12,500 (98,850 )
Government grants (1,250 ) (1,250 )
Finance income (138,096 ) (41,288 )
1,467,176 1,957,379
Decrease in stocks 12,452 160,212
Decrease in trade and other debtors 950,317 163,098
Increase/(decrease) in trade and other creditors 154,648 (122,855 )
Cash generated from operations 2,584,593 2,157,834

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st August 2024
31/8/24 1/9/23
£    £   
Cash and cash equivalents 5,496,073 3,667,325
Year ended 31st August 2023
31/8/23 1/9/22
£    £   
Cash and cash equivalents 3,667,325 3,066,842


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/23 Cash flow At 31/8/24
£    £    £   
Net cash
Cash at bank 3,667,325 1,828,748 5,496,073
3,667,325 1,828,748 5,496,073
Debt
Finance leases (12,073 ) 9,055 (3,018 )
(12,073 ) 9,055 (3,018 )
Total 3,655,252 1,837,803 5,493,055

Normanton Laminating Services Limited (Registered number: 01392189)

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

1. STATUTORY INFORMATION

Normanton Laminating Services 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" 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
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, has been 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.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 Statement of Comprehensive Income, 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.


Normanton Laminating Services Limited (Registered number: 01392189)

Notes to the Financial Statements - continued
for the year ended 31st August 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
2024 2023
£    £   
Wages and salaries 1,405,970 1,589,666
Social security costs 148,453 137,045
Other pension costs 85,725 76,703
1,640,148 1,803,414

The average number of employees during the year was as follows:
2024 2023

Management and administration 9 13
Manufacturing staff 33 36
42 49

4. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Director's remuneration 245,173 247,714
Director's pension contributions to money purchase schemes 16,000 4,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Normanton Laminating Services Limited (Registered number: 01392189)

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

4. DIRECTORS' EMOLUMENTS - continued

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 245,173 247,714
Pension contributions to money purchase schemes 16,000 4,000

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 23,435 23,982
Depreciation - owned assets 159,763 156,022
Depreciation - assets on hire purchase contracts 17,166 17,166
Loss/(profit) on disposal of fixed assets 745 (10,583 )
Auditors' remuneration 6,250 6,261

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 390,855 443,604

Deferred taxation (27,186 ) (26,451 )
Tax on profit 363,669 417,153

7. DIVIDENDS
2024 2023
£    £   
Interim Ordinary 500,000 500,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2023
and 31st August 2024 127,500
AMORTISATION
At 1st September 2023
and 31st August 2024 127,500
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 -

Normanton Laminating Services Limited (Registered number: 01392189)

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

9. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st September 2023 916,746 124,701 1,234,588
Additions - - 26,253
Disposals - - (20,604 )
At 31st August 2024 916,746 124,701 1,240,237
DEPRECIATION
At 1st September 2023 313,213 33,751 1,021,008
Charge for year 18,335 10,200 86,009
Eliminated on disposal - - (18,959 )
At 31st August 2024 331,548 43,951 1,088,058
NET BOOK VALUE
At 31st August 2024 585,198 80,750 152,179
At 31st August 2023 603,533 90,950 213,580

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st September 2023 228,083 158,515 76,994 2,739,627
Additions 11,686 - 9,239 47,178
Disposals - - (9,362 ) (29,966 )
At 31st August 2024 239,769 158,515 76,871 2,756,839
DEPRECIATION
At 1st September 2023 167,508 69,706 71,221 1,676,407
Charge for year 18,185 39,129 5,071 176,929
Eliminated on disposal - - (9,362 ) (28,321 )
At 31st August 2024 185,693 108,835 66,930 1,825,015
NET BOOK VALUE
At 31st August 2024 54,076 49,680 9,941 931,824
At 31st August 2023 60,575 88,809 5,773 1,063,220

The net book value of tangible fixed assets includes £ 21,458 (2023 - £ 38,624 ) in respect of assets held under hire purchase contracts.

10. FIXED ASSET INVESTMENTS

The investment in A B Bonding Company Limited was written down to NIL in 2009. The company still owns 100% of the share capital in A B Bonding Company Limited, which is a non-trading company.

Normanton Laminating Services Limited (Registered number: 01392189)

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

11. STOCKS
2024 2023
£    £   
Stocks 1,614,460 1,626,912

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,858,140 2,793,667
Other debtors 531 120
Prepayments and accrued income 38,080 67,031
1,896,751 2,860,818

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 3,018 9,055
Trade creditors 1,608,784 1,453,618
Taxation 116,855 78,919
Social security and other taxes 169,155 179,835
Other creditors 55,528 32,708
Directors' current accounts 475,090 475,779
Accrued expenses 28,811 41,469
2,457,241 2,271,383

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) - 3,018

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,018 9,055
Between one and five years - 3,018
3,018 12,073

Normanton Laminating Services Limited (Registered number: 01392189)

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

15. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 85,211 61,211
Between one and five years 149,119 168,330
234,330 229,541

16. SECURED DEBTS

National Westminster Bank plc holds a fixed and floating charge over the current and future assets of the company.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 82,272 109,458
Other provisions 337,500 325,000
419,772 434,458

Deferred
tax
£   
Balance at 1st September 2023 109,458
Provided during year (27,186 )
Balance at 31st August 2024 82,272

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,155 Ordinary £1 4,155 4,155

19. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1st September 2023 6,414,416 16,052 74,793 6,505,261
Profit for the year 1,052,679 1,052,679
Dividends (500,000 ) (500,000 )
At 31st August 2024 6,967,095 16,052 74,793 7,057,940