Company Registration No. 07111980 (England and Wales)
EURO EXTRUSIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
EURO EXTRUSIONS LIMITED
COMPANY INFORMATION
Director
Dr S Al-Zaidi
(Appointed 11 November 2024)
Secretary
Ms A J Gosling
Company number
07111980
Registered office
Premier Mill
Hartley Street
Great Harwood
Lancashire
BB6 7SR
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
EURO EXTRUSIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EURO EXTRUSIONS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
210,334
265,551
Current assets
Stocks
154,906
164,660
Debtors
4
502,344
416,421
Cash at bank and in hand
11,981
52,922
669,231
634,003
Creditors: amounts falling due within one year
5
(1,207,024)
(1,007,855)
Net current liabilities
(537,793)
(373,852)
Total assets less current liabilities
(327,459)
(108,301)
Creditors: amounts falling due after more than one year
6
(5,761)
(253,139)
Net liabilities
(333,220)
(361,440)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(333,221)
(361,441)
Total equity
(333,220)
(361,440)

The notes on pages 3 to 6 form part of these financial statements.

EURO EXTRUSIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 March 2025 and are signed on its behalf by:
Dr S Al-Zaidi
Director
Company registration number 07111980 (England and Wales)
EURO EXTRUSIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Euro Extrusions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Premier Mill, Hartley Street, Great Harwood, Lancashire, BB6 7SR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

During the period the company met its day to day working capital requirements by the financial support of group companies and an invoice discounting facility. The directors consider that the company will continue to operate within the facilities currently agreed.true

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

1.3
Reporting period

The financial statements are presented for a period of shorter than one year due to the company being sold shortly after the period end. As such, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% on cost
Computers
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

EURO EXTRUSIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
11
11
EURO EXTRUSIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
697,745
7,091
15,426
720,262
Additions
28,507
-
0
-
0
28,507
Disposals
(147,978)
-
0
-
0
(147,978)
At 31 October 2024
578,274
7,091
15,426
600,791
Depreciation and impairment
At 1 January 2024
433,357
6,325
15,029
454,711
Depreciation charged in the period
22,636
290
83
23,009
Eliminated in respect of disposals
(87,263)
-
0
-
0
(87,263)
At 31 October 2024
368,730
6,615
15,112
390,457
Carrying amount
At 31 October 2024
209,544
476
314
210,334
At 31 December 2023
264,388
766
397
265,551
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
491,788
355,730
Amounts owed by group undertakings
-
0
23,397
Other debtors
10,556
37,294
502,344
416,421
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
20,392
Trade creditors
411,197
446,560
Amounts owed to group undertakings
3,829
40,237
Taxation and social security
10,297
4,350
Other creditors
771,701
496,316
1,207,024
1,007,855
EURO EXTRUSIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,761
14,108
Other creditors
-
0
239,031
5,761
253,139
7
Secured debts

The following secured debts are included within creditors:

Invoice finance creditor of £407,052 (202 3 - £253,487) is secured over trade debtors.

A bank loan of £nil (202 3 - £1 5,388) is secured over the assets of the company.

Finance lease creditor of £320,879 (202 3 - £4 03,000) is secured over the assets to which they relate.

8
Contingent liability

The company has guaranteed bank borrowings of its parent company. At the year end liabilities covered by the guarantees amounted to £132,539 (202 3 - £147,548).

The company is party to a group guarantee relating to a bank facility of a company in which one of the directors had an interest. The rights under this guarantee have now been exercised. The guarantee amounts to £480,000 (202 3 - £480,000). The parent company is negotiating with the bank to settle the guarantee and has made provision for this liability in their financial statements.

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