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COMPANY REGISTRATION NUMBER: 11139759
LINX HOARDINGS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2022
LINX HOARDINGS LTD
STATEMENT OF FINANCIAL POSITION
31 January 2022
2022
2021
Note
£
£
£
FIXED ASSETS
Tangible assets
5
31,232
41,717
CURRENT ASSETS
Debtors
6
133,360
106,604
Cash at bank and in hand
40,343
77,903
---------
---------
173,703
184,507
CREDITORS: amounts falling due within one year
7
( 185,608)
( 159,821)
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 11,905)
24,686
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
19,327
66,403
CREDITORS: amounts falling due after more than one year
8
( 39,242)
( 52,305)
PROVISIONS
( 4,963)
( 5,687)
--------
--------
NET (LIABILITIES)/ASSETS
( 24,878)
8,411
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 24,978)
8,311
--------
-------
SHAREHOLDERS (DEFICIT)/FUNDS
( 24,878)
8,411
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LINX HOARDINGS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2022
These financial statements were approved by the board of directors and authorised for issue on 18 August 2022 , and are signed on behalf of the board by:
M A Bennett
C M D Johnson
Director
Director
Company registration number: 11139759
LINX HOARDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit a3, Astra Park, Parkside, Leeds, LS11 5SZ, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 10 (2021: 5 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2021 and 31 January 2022
1,312
77,419
596
79,327
-------
--------
----
--------
Depreciation
At 1 February 2021
731
36,358
521
37,610
Charge for the year
145
10,265
75
10,485
-------
--------
----
--------
At 31 January 2022
876
46,623
596
48,095
-------
--------
----
--------
Carrying amount
At 31 January 2022
436
30,796
31,232
-------
--------
----
--------
At 31 January 2021
581
41,061
75
41,717
-------
--------
----
--------
6. DEBTORS
2022
2021
£
£
Trade debtors
122,738
72,265
Other debtors
10,622
34,339
---------
---------
133,360
106,604
---------
---------
7. CREDITORS: amounts falling due within one year
2022
2021
£
£
Trade creditors
117,573
43,628
Corporation tax
2,684
Social security and other taxes
13,502
17,805
Other creditors
46,676
76,372
Other creditors
7,857
19,332
---------
---------
185,608
159,821
---------
---------
8. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
39,242
50,000
Other creditors
2,305
--------
--------
39,242
52,305
--------
--------