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REGISTERED NUMBER: 08918457 (England and Wales)











Financial Statements

for the Period 1 April 2024 to 31 December 2024

for

Neill's Materials Limited

Neill's Materials Limited (Registered number: 08918457)






Contents of the Financial Statements
for the Period 1 April 2024 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Neill's Materials Limited

Company Information
for the Period 1 April 2024 to 31 December 2024







DIRECTORS: J Neill
T Ashby
D Lorenz
P Gillespie





SECRETARY: D Lorenz





REGISTERED OFFICE: Unit 5 Chapel Pond Hill
Bury St Edmunds
Suffolk
IP32 7HT





REGISTERED NUMBER: 08918457 (England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Neill's Materials Limited (Registered number: 08918457)

Balance Sheet
31 December 2024

2024 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,573 139,302

CURRENT ASSETS
Stocks 649,134 838,009
Debtors 5 1,167,835 1,329,574
Cash at bank 933,830 709,412
2,750,799 2,876,995
CREDITORS
Amounts falling due within one year 6 625,824 854,641
NET CURRENT ASSETS 2,124,975 2,022,354
TOTAL ASSETS LESS CURRENT LIABILITIES 2,228,548 2,161,656

CREDITORS
Amounts falling due after more than one
year

7

-

(37,422

)

PROVISIONS FOR LIABILITIES (22,437 ) (24,898 )
NET ASSETS 2,206,111 2,099,336

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,206,011 2,099,236
2,206,111 2,099,336

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 3 June 2025 and were signed on its behalf by:





J Neill - Director


Neill's Materials Limited (Registered number: 08918457)

Notes to the Financial Statements
for the Period 1 April 2024 to 31 December 2024

1. STATUTORY INFORMATION

Neill's Materials 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

Taxation
Taxation for the period 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.

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 period 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.

Neill's Materials Limited (Registered number: 08918457)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued

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 period was 15 (2024 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 274,112
Additions 7,825
Disposals (27,245 )
At 31 December 2024 254,692
DEPRECIATION
At 1 April 2024 134,810
Charge for period 31,361
Eliminated on disposal (15,052 )
At 31 December 2024 151,119
NET BOOK VALUE
At 31 December 2024 103,573
At 31 March 2024 139,302

Neill's Materials Limited (Registered number: 08918457)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2024
and 31 December 2024 181,166
DEPRECIATION
At 1 April 2024 83,218
Charge for period 22,199
At 31 December 2024 105,417
NET BOOK VALUE
At 31 December 2024 75,749
At 31 March 2024 97,948

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 419,105 441,618
Amounts owed by group undertakings 673,543 837,732
Other debtors 75,187 50,224
1,167,835 1,329,574

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Hire purchase contracts (see note 8) 70,612 45,336
Payments on account 51,083 10,273
Trade creditors 95,416 181,582
Taxation and social security 322,791 336,091
Other creditors 85,922 281,359
625,824 854,641

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2024
£    £   
Hire purchase contracts (see note 8) - 37,422

Neill's Materials Limited (Registered number: 08918457)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2024
£    £   
Net obligations repayable:
Within one year 70,612 45,336
Between one and five years - 37,422
70,612 82,758

Non-cancellable operating leases
2024 2024
£    £   
Within one year 59,423 54,848
Between one and five years 237,694 219,390
In more than five years 148,929 187,396
446,046 461,634

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
£    £   
Hire purchase contracts 70,612 82,758

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

J Knights ACA (Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited

11. PENSION COMMITMENTS

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £54,718 (2024: £74,440).

Unpaid pension contributions at 31 December 2024 amounted to £2,350 (2024: £1,843).

12. RELATED PARTY DISCLOSURES

The company is owed £673,543 (2024 £837,732) by group companies. These loans are unsecured, interest free and repayable on demand. During the period purchases of £1,404,046 (2024: £1,833,155), sales of £13,113 (2024: £6,831) and management fees of £301,501 (2024: £206,619) were undertaken with group companies at normal commercial rates.

Neill's Materials Limited (Registered number: 08918457)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 31 December 2024

13. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is MPE Case Lab Inc. The ultimate parent undertaking is Polytek Holdings LLC.

The ultimate controlling party is Arsenal Capital LLC.