REGISTERED NUMBER: 02402932 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LAMINATED PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mr G Monkman

Mr M A Lundy

Mrs D C Carlisle

Mr T Russell

Mr D G Bean

SECRETARY:

Mrs D C Carlisle

REGISTERED OFFICE:

Hunt Street

Whitwood Mere

Castleford

West Yorkshire

WF10 1NS

REGISTERED NUMBER:

02402932 (England and Wales)

AUDITORS:

Allens Accountants Limited

Statutory Auditor and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

758,927

865,034

CURRENT ASSETS

Stocks

726,245

774,866

Debtors

5

2,293,570

2,868,902

Cash at bank

22,377

206,651

3,042,192

3,850,419

CREDITORS

Amounts falling due within one year

6

3,461,087

2,576,066

NET CURRENT (LIABILITIES)/ASSETS

(418,895

)

1,274,353

TOTAL ASSETS LESS CURRENT LIABILITIES

340,032

2,139,387

PROVISIONS FOR LIABILITIES

8

185,755

211,707

NET ASSETS

154,277

1,927,680

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

104,277

1,877,680

SHAREHOLDERS' FUNDS

154,277

1,927,680

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 26th September 2025 and were signed on its behalf by:

Mr G Monkman - Director

1.	STATUTORY INFORMATION

Laminated Products 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.

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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

i) the Company has transferred the significant risks and rewards of ownership to the buyer;

ii) the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

iii) the amount of turnover can be measured reliably;

iv) it is probable that the Company will receive the consideration due under the transaction and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 etc

-

over the period of the lease and 5-15 years less expected residual value

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.

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.

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.

Hire purchase and leasing commitments

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 year was 42 (2023 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

2,888,516

Additions

54,649

At 31st December 2024

2,943,165

DEPRECIATION

At 1st January 2024

2,023,482

Charge for year

160,756

At 31st December 2024

2,184,238

NET BOOK VALUE

At 31st December 2024

758,927

At 31st December 2023

865,034

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,184,751

1,392,773

Amounts owed by group undertakings

900,000

1,300,000

Other debtors

208,819

176,129

2,293,570

2,868,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

146,805

249,086

Amounts owed to group undertakings

2,109,128

779,300

Taxation and social security

33,513

178,024

Other creditors

1,171,641

1,369,656

3,461,087

2,576,066

The redeemable preference shares rank pari passu with the ordinary shares of the company except for the following:

- redeemable preference shares attract an annual dividend of 12% and are redeemable at par.

- there is no fixed date for redemption.

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Invoice finance creditor

1,012,212

1,151,866

The invoice finance facility is secured on the trade debtors of the company and by personal guarantees of the directors.

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

185,755

211,707

Deferred

tax

£

Balance at 1st January 2024

211,707

Credit to Income Statement during year

(25,952

)

Profit and loss account

Balance at 31st December 2024

185,755

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50,000

Ordinary

£1

50,000

50,000

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

The Report of the Auditors was unqualified.

Paul Wright (Senior Statutory Auditor)

for and on behalf of Allens Accountants Limited

11.	CONTINGENT LIABILITIES

The company is a member of a group registration for VAT purposes. Under the terms of the registration, each member is jointly and severally liable for the VAT liability for all members. The contingent liability in this respect is £nil (2023: £268,543).

The company is party to an unlimited cross guarantee between the company and its parent, Nimbus Building Products Limited, where the Group's bank borrowings are secured by the assets of the Group.

12.	ULTIMATE CONTROLLING PARTY

At the balance sheet date the Nimbco Employee-Ownership Trust is the ultimate controlling party by virtue of 100% shareholding in the parent company Nimbus Building Products Limited a company registered in England & Wales, registered office Hunt Street, Whitwood Mere, Castleford, West Yorkshire, WF10 1NS.