Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31truetrue18No description of principal activity2021-01-01false19 05182001 2021-01-01 2021-12-31 05182001 2020-01-01 2020-12-31 05182001 2021-12-31 05182001 2020-12-31 05182001 c:Director1 2021-01-01 2021-12-31 05182001 d:Buildings d:ShortLeaseholdAssets 2021-01-01 2021-12-31 05182001 d:Buildings d:ShortLeaseholdAssets 2021-12-31 05182001 d:Buildings d:ShortLeaseholdAssets 2020-12-31 05182001 d:LandBuildings 2021-12-31 05182001 d:LandBuildings 2020-12-31 05182001 d:PlantMachinery 2021-01-01 2021-12-31 05182001 d:PlantMachinery 2021-12-31 05182001 d:PlantMachinery 2020-12-31 05182001 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05182001 d:FurnitureFittings 2021-01-01 2021-12-31 05182001 d:FurnitureFittings 2021-12-31 05182001 d:FurnitureFittings 2020-12-31 05182001 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05182001 d:OfficeEquipment 2021-01-01 2021-12-31 05182001 d:OfficeEquipment 2021-12-31 05182001 d:OfficeEquipment 2020-12-31 05182001 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05182001 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05182001 d:CurrentFinancialInstruments 2021-12-31 05182001 d:CurrentFinancialInstruments 2020-12-31 05182001 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05182001 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05182001 d:ShareCapital 2021-12-31 05182001 d:ShareCapital 2020-12-31 05182001 d:CapitalRedemptionReserve 2021-12-31 05182001 d:CapitalRedemptionReserve 2020-12-31 05182001 d:RetainedEarningsAccumulatedLosses 2021-12-31 05182001 d:RetainedEarningsAccumulatedLosses 2020-12-31 05182001 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 05182001 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 05182001 d:OtherDeferredTax 2021-12-31 05182001 d:OtherDeferredTax 2020-12-31 05182001 c:FRS102 2021-01-01 2021-12-31 05182001 c:Audited 2021-01-01 2021-12-31 05182001 c:FullAccounts 2021-01-01 2021-12-31 05182001 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05182001 d:WithinOneYear 2021-12-31 05182001 d:WithinOneYear 2020-12-31 05182001 d:BetweenOneFiveYears 2021-12-31 05182001 d:BetweenOneFiveYears 2020-12-31 05182001 d:MoreThanFiveYears 2021-12-31 05182001 d:MoreThanFiveYears 2020-12-31 05182001 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 05182001 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 05182001










MARLINK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
MARLINK LIMITED
REGISTERED NUMBER: 05182001

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,302
16,474

  
16,302
16,474

Current assets
  

Stocks
 5 
53,358
70,753

Debtors: amounts falling due within one year
 6 
5,780,533
1,717,220

Cash at bank and in hand
 7 
13,338
1,952,472

  
5,847,229
3,740,445

Creditors: amounts falling due within one year
 8 
(3,817,692)
(1,623,380)

Net current assets
  
 
 
2,029,537
 
 
2,117,065

Total assets less current liabilities
  
2,045,839
2,133,539

Provisions for liabilities
  

Deferred tax
 9 
(2,912)
(3,103)

  
 
 
(2,912)
 
 
(3,103)

Net assets
  
2,042,927
2,130,436


Capital and reserves
  

Called up share capital 
  
802
802

Capital redemption reserve
  
200
200

Profit and loss account
  
2,041,925
2,129,434

  
2,042,927
2,130,436


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2022.




W J Ashworth
Director

Page 1

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


Statutory Information

Marlink 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Revenue recognition

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.
Turnover generated 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).
Turnover in respect of long-term construction contracts is recognised by reference to the stage of completion.
When the outcome of a construction contract sale can be estimated reliably in terms of its stage of completion, future costs to complete and collectability of billings, the company recognises revenue and expenses on the contract sale by reference to the stage of completion of the contract activity at the end of the reporting period. The stage of completion is determined on the basis of the proportion of the contract costs incurred to date over the estimated total costs.
When the outcome of a contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable contract costs incurred.
Turnover in respect of contract services is recognised as services are performed, with unbilled revenue resulting from services already provided accrued at the end of each period and unearned revenue from services to be provided in future periods deferred.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.7

Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchanged ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchanging ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

  
2.8

Financial Instruments

Basic financial instruments are recognised at amortised cost.
The company only has basic financial instruments.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
25%
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.11

Stock

Stock is valued at the lower of cost and net realisable value, after making allowances for obsolete and slow-moving items.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 4

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2021
        2020
            No.
            No.







Average number of employees
19
18


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
4,726
22,736
29,984
65,700
123,146


Additions
-
-
-
5,281
5,281



At 31 December 2021

4,726
22,736
29,984
70,981
128,427



Depreciation


At 1 January 2021
4,522
18,826
27,883
55,441
106,672


Charge for the year on owned assets
51
977
525
3,900
5,453



At 31 December 2021

4,573
19,803
28,408
59,341
112,125



Net book value



At 31 December 2021
153
2,933
1,576
11,640
16,302



At 31 December 2020
204
3,910
2,101
10,259
16,474

Page 5

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Short leasehold
153
204

153
204


Page 6

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Stocks

2021
2020
£
£

Finished goods and goods for resale
53,358
70,753

53,358
70,753



6.


Debtors

2021
2020
£
£


Trade debtors
2,502,956
592,938

Amounts owed by group undertakings
3,241,899
1,085,556

Other debtors
5,000
9,521

Prepayments and accrued income
30,678
29,205

5,780,533
1,717,220



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
13,338
1,952,472

13,338
1,952,472



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
2,435,767
741,266

Amounts owed to group undertakings
123,441
182,848

Corporation tax
92,372
52,094

Other taxation and social security
122,481
160,160

Other creditors
296,802
-

Accruals and deferred income
746,829
487,012

3,817,692
1,623,380


Page 7

 
MARLINK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Deferred taxation




2021


£






At beginning of year
(3,103)


Charged to profit or loss
191



At end of year
(2,912)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(3,103)
(3,103)

Charged to profit or loss
191
-

(2,912)
(3,103)


10.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
23,000
-

Between 1-2 years
23,000
-

Between 2-3 years
22,000
-

68,000
-


11.


Controlling party

The immediate parent of the entity is Marlink AS, a company registered in Norway, by virtue of its shareholding.
The registered address of the parent is Lysaker Torg 45, 1366 Lysaker, Norway.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 31 March 2022 by David Cooper (senior statutory auditor) on behalf of Hamlyns Limited.

Page 8