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COMPANY REGISTRATION NUMBER: 08833588
LIGNA COMPONENTS LIMITED
Filleted Unaudited Financial Statements
31 January 2025
LIGNA COMPONENTS LIMITED
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
FIXED ASSETS
Tangible assets
5
208,885
195,569
CURRENT ASSETS
Stocks
103,003
83,765
Debtors
6
127,274
147,618
Cash at bank and in hand
106,260
75,429
---------
---------
336,537
306,812
CREDITORS: amounts falling due within one year
7
139,960
178,068
---------
---------
NET CURRENT ASSETS
196,577
128,744
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
405,462
324,313
CREDITORS: amounts falling due after more than one year
8
10,607
669
PROVISIONS
Taxation including deferred tax
39,214
36,703
---------
---------
NET ASSETS
355,641
286,941
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
355,541
286,841
---------
---------
SHAREHOLDERS FUNDS
355,641
286,941
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LIGNA COMPONENTS LIMITED
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 6 June 2025 , and are signed on behalf of the board by:
Mr S R Rowe
Director
Company registration number: 08833588
LIGNA COMPONENTS LIMITED
Notes to the Financial Statements
Year ended 31st January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Newstead Grove, NOTTINGHAM, NG1 4GZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
20% reducing balance
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1st February 2024
20,376
282,054
18,422
67,184
388,036
Additions
15,470
33,579
8,031
57,080
--------
---------
--------
--------
---------
At 31st January 2025
35,846
315,633
26,453
67,184
445,116
--------
---------
--------
--------
---------
Depreciation
At 1st February 2024
4,076
145,203
11,134
32,054
192,467
Charge for the year
6,354
25,565
3,063
8,782
43,764
--------
---------
--------
--------
---------
At 31st January 2025
10,430
170,768
14,197
40,836
236,231
--------
---------
--------
--------
---------
Carrying amount
At 31st January 2025
25,416
144,865
12,256
26,348
208,885
--------
---------
--------
--------
---------
At 31st January 2024
16,300
136,851
7,288
35,130
195,569
--------
---------
--------
--------
---------
6. Debtors
2025
2024
£
£
Trade debtors
124,398
145,636
Other debtors
2,876
1,982
---------
---------
127,274
147,618
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
35,844
60,888
Corporation tax
34,389
25,406
Social security and other taxes
41,627
36,474
Other creditors
28,100
55,300
---------
---------
139,960
178,068
---------
---------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
10,607
669
--------
----
9. Directors' advances, credits and guarantees
Included in creditors falling due within one year is a directors' loan amounting to £567 (2024: £15,547).
10. Related party transactions
The company was under the control of Mr S and Mrs J Rowe throughout the year. The directors, Mr S and Mrs J Rowe, received dividends during the year of £42,000 (2024: £60,000)