2022-04-012023-03-312023-03-31false04913299Linx Business Communications 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Linx Business Communications Limited

Registered Number
04913299
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Linx Business Communications Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Darren Palmer
Samantha Slyziak
Luke Welburn

Registered Address

93-97 Saltergate
Chesterfield
Derbyshire
S40 1LA

Place of Business

1st Floor Langton House

Lindum Business Park

Station Road

North Hykeham

LN6 3QX


Registered Number

04913299 (England and Wales)
Linx Business Communications Limited
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets535,33431,519
35,33431,519
Current assets
Debtors611,30294,984
Cash at bank and on hand120,847748,458
732,149843,442
Creditors amounts falling due within one year(319,752)(529,112)
Net current assets (liabilities)412,397314,330
Total assets less current liabilities447,731345,849
Provisions for liabilities(8,429)(5,106)
Net assets439,302340,743
Capital and reserves
Called up share capital7070
Other reserves3030
Profit and loss account439,202340,643
Shareholders' funds439,302340,743
The financial statements were approved and authorised for issue by the Board of Directors on 28 September 2023, and are signed on its behalf by:
Darren Palmer
Director
Registered Company No. 04913299
Linx Business Communications Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements have been prepared on the historical cost basis. The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Impairments A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Reducing balance (%)
Land and buildings25
Office Equipment25
Revenue recognition policy
The turnover shown in the profit and loss account represents amounts earned during the year exclusive of Value Added Tax.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.Employee information

20232022
Average number of employees during the year2624
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 22114,353
Additions13,127
At 31 March 23127,480
Depreciation and impairment
At 01 April 2282,834
Charge for year9,312
At 31 March 2392,146
Net book value
At 31 March 2335,334
At 31 March 2231,519
6.Description of financial commitments other than capital commitments
The total future minimum lease payments under non-cancellable operating leases are £49,947 (2022 £nil) not later than 1 year and £69,597 (2022 £nil) later than 1 and not later than 5.
7.Description of nature of transactions and balances with related parties
The company has taken advantage of exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. On 3 April 2021, the Linx LB Employee Ownership Trust ("EOT") purchased 75% of the ordinary share capital, following which the company became an employee owned company. The funding for the transaction (and associated costs) was achieved through an initial contribution by the company and a loan from the previous owner. During the year, the company made contributions of £nil (2022: £2,298,940) to the EOT. The directors are of the opinion that de-facto control does not exist and therefore excluded the assets and liabilities of the EOT from these financial statements and consolidated accounts have not been prepared. Linx LB Employee Ownership Trust is the beneficial owner of 75% of the ordinary share capital of Linx Business Communications Ltd. The shares are held by Linx LB Trustees Limited in its capacity as corporate trustee. During the year the company provided a loan to a related party. The balance at 31 March 2023 was £306,242. The loan is unsecured, interest free and repayable on demand.