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REGISTERED NUMBER: SC433833















LINELL INTERNATIONAL FORGED ALLOYS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 48,387 32,792

CURRENT ASSETS
Stocks 393,817 609,830
Debtors 5 765,820 920,892
Cash at bank and in hand 229,530 456,485
1,389,167 1,987,207
CREDITORS
Amounts falling due within one year 6 971,843 1,494,800
NET CURRENT ASSETS 417,324 492,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,711

525,199

CREDITORS
Amounts falling due after more than one year 7 (53,333 ) (93,333 )

PROVISIONS FOR LIABILITIES (12,097 ) (8,198 )
NET ASSETS 400,281 423,668

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 400,278 423,665
SHAREHOLDERS' FUNDS 400,281 423,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

BALANCE SHEET - continued
30 SEPTEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:




D F Whyte - Director



M G Elliott - Director


LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Linell International Forged Alloys Ltd is a private company, limited by shares, registered in Scotland. The company's registered office is C/O Linell Group Limited, Russell Street, Johnstone, Renfrewshire, PA5 8BZ.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Turnover
Turnover represents the invoice value of goods supplied and services rendered in the year, exclusive of value added tax. The company's policy is to recognise income when substantively all risks and rewards in connection with the goods and services have been passed to the buyer.

Turnover in respect of contracts is reflected in the profit and loss account by recording turnover and related costs as activity progresses. Turnover represents net costs plus attributable profit, estimated to have been earned, less foreseeable losses. Turnover in excess of payments on account is separately disclosed in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Investments in subsidiaries
Investments in subsidiary, represent shareholdings in unquoted subsidiary undertakings, are stated at cost less impairment.

LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, loans to and from related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured: at fair value with changes recognised in profit and loss if the shares are publicly traded or their fair value can be measured reliably or at cost less impairment for all other investments.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand and cash held at bank.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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.

LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Rentals payable under operating leases are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 195,778
Additions 31,725
At 30 September 2024 227,503
DEPRECIATION
At 1 October 2023 162,986
Charge for year 16,130
At 30 September 2024 179,116
NET BOOK VALUE
At 30 September 2024 48,387
At 30 September 2023 32,792

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 155,930 851,516
Amounts owed by related parties 609,887 47,663
Other debtors 3 21,713
765,820 920,892

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 319,879 673,796
Amounts owed to related parties 483,826 453,292
Taxation and social security 121,318 322,378
Other creditors 6,820 5,334
971,843 1,494,800

LINELL INTERNATIONAL FORGED ALLOYS LTD (REGISTERED NUMBER: SC433833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 53,333 93,333

8. DIRECTORS TRANSACTIONS

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A Reid
Balance outstanding at start of year 21,711 27,432
Amounts advanced - 21,779
Amounts repaid (22,000 ) (27,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (289 ) 21,711

This loan is interest free, unsecured and no repayment terms have been established.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.