Linn-Tech Scotland Limited - Accounts to registrar (filleted) - small 18.2
Linn-Tech Scotland Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
| FOR |
| LINN-TECH SCOTLAND LIMITED |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LINN-TECH SCOTLAND LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 September 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 24A Ainslie Place |
| Edinburgh |
| EH3 6AJ |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| BALANCE SHEET |
| 30 September 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| BALANCE SHEET - continued |
| 30 September 2021 |
| 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 |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2021 |
| 1. | STATUTORY INFORMATION |
| Linn-Tech Scotland Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the amount of contract revenue recognised as revenue in the period. Revenue is recognised when the outcome of a contract can be measured reliably by reference to the percentage completion of the contract. If the outcome cannot be measured reliably, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable. |
| When it is probable that a loss will occur on a contract, this is recognised in full immediately as an onerous contract provision. |
| Tangible fixed assets |
| Depreciation is calculated to write down the cost of all tangible fixed assets by equal instalments over their expected useful lives. The rates applicable are :- |
| Plant and machinery 12.5%, 20% and 25% |
| Stock and work in progress |
| Costs associated with long term contracts are included in work in progress to the extent that they cannot be matched with contract work recognised as revenue. Long term contracts balances included in work in progress are stated at cost, after provision has been made for any foreseeable losses. |
| Stocks are stated at the lower of cost and net realisable value. |
| 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. |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. These assets are depreciated over their estimated useful lives. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
| The rentals on operating leases are charged to the profit and loss account on a straight line basis over the lease terms. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. The amount charged to profit and loss account in respect of pension costs is the contributions payable in the year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 October 2020 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2021 |
| DEPRECIATION |
| At 1 October 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 September 2021 |
| NET BOOK VALUE |
| At 30 September 2021 |
| At 30 September 2020 |
| 5. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Amounts owed by group undertakings |
| Amounts recoverable on contracts |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts recoverable on contracts |
| Aggregate amounts |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 32,000 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2021 | 2020 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 2021 | 2020 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Bank loans are secured by a bond and floating charge over the assets of the company and an unlimited cross corporate guarantee by the company and its parent company L T Aluminium Group Ltd. |
| LINN-TECH SCOTLAND LIMITED (REGISTERED NUMBER: SC142805) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2021 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| A cross company guarantee in favour of the Bank of Scotland exists between the company and its parent company L T Aluminium Group Ltd. |