20 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 3,212,403 146,753 105,000 3,254,156 2,717,456 101,788 64,313 2,754,931 499,225 494,947 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 00937780 2022-04-01 2023-03-31 00937780 2023-03-31 00937780 2022-03-31 00937780 2021-04-01 2022-03-31 00937780 2022-03-31 00937780 core:PlantMachinery 2022-04-01 2023-03-31 00937780 bus:Director3 2022-04-01 2023-03-31 00937780 core:PlantMachinery 2022-03-31 00937780 core:PlantMachinery 2023-03-31 00937780 core:AfterOneYear 2023-03-31 00937780 core:AfterOneYear 2022-03-31 00937780 core:WithinOneYear 2023-03-31 00937780 core:WithinOneYear 2022-03-31 00937780 core:ShareCapital 2023-03-31 00937780 core:ShareCapital 2022-03-31 00937780 core:OtherReservesSubtotal 2023-03-31 00937780 core:OtherReservesSubtotal 2022-03-31 00937780 core:RetainedEarningsAccumulatedLosses 2023-03-31 00937780 core:RetainedEarningsAccumulatedLosses 2022-03-31 00937780 core:BetweenOneFiveYears 2023-03-31 00937780 core:BetweenOneFiveYears 2022-03-31 00937780 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 00937780 core:Non-currentFinancialInstruments 2023-03-31 00937780 core:Non-currentFinancialInstruments 2022-03-31 00937780 core:PlantMachinery 2022-03-31 00937780 bus:SmallEntities 2022-04-01 2023-03-31 00937780 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00937780 bus:FullAccounts 2022-04-01 2023-03-31 00937780 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00937780 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 00937780
Linston Limited
Filleted Unaudited Financial Statements
31 March 2023
Linston Limited
Balance Sheet
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
499,225
494,947
Investments
6
100
100
---------
---------
499,325
495,047
Current assets
Stocks
99,764
110,014
Debtors
7
1,541,479
1,174,796
Cash at bank and in hand
2,651,691
1,839,101
------------
------------
4,292,934
3,123,911
Creditors: amounts falling due within one year
8
1,672,045
1,314,288
------------
------------
Net current assets
2,620,889
1,809,623
------------
------------
Total assets less current liabilities
3,120,214
2,304,670
Creditors: amounts falling due after more than one year
9
100
100
Provisions
Deferred Tax
95,000
94,000
------------
------------
Net assets
3,025,114
2,210,570
------------
------------
Linston Limited
Balance Sheet (continued)
31 March 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
250
250
Other reserves
250
250
Profit and loss account
3,024,614
2,210,070
------------
------------
Shareholders funds
3,025,114
2,210,570
------------
------------
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 profit and loss account has not been delivered.
For the year ending 31 March 2023 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 .
These financial statements were approved by the board of directors and authorised for issue on 3 October 2023 , and are signed on behalf of the board by:
M A Edwards
Director
Company registration number: 00937780
Linston Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 149B Bawtry Road, Wickersley, Rotherham, South Yorkshire, S66 2BW.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of value added tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
Plant, Fixtures & machinery
-
15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2022: 19 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2022
3,212,403
3,212,403
Additions
146,753
146,753
Disposals
( 105,000)
( 105,000)
------------
------------
At 31 March 2023
3,254,156
3,254,156
------------
------------
Depreciation
At 1 April 2022
2,717,456
2,717,456
Charge for the year
101,788
101,788
Disposals
( 64,313)
( 64,313)
------------
------------
At 31 March 2023
2,754,931
2,754,931
------------
------------
Carrying amount
At 31 March 2023
499,225
499,225
------------
------------
At 31 March 2022
494,947
494,947
------------
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
100
----
Impairment
At 1 April 2022 and 31 March 2023
----
Carrying amount
At 31 March 2023
100
----
At 31 March 2022
100
----
The investment is in respect of a wholly owned subsidiary, Furnace Minerals Limited, a company incorporated in England. Furnace Minerals Limited did not trade during the year ended 31 March 2023 and has share capital and reserves amounting to £100 (2022: £100).
7. Debtors
2023
2022
£
£
Trade debtors
1,501,187
1,110,290
Amounts owed by group undertakings and undertakings in which the company has a participating interest
20,973
20,773
Other debtors
19,319
43,733
------------
------------
1,541,479
1,174,796
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,153,402
1,129,682
Corporation tax
269,090
14,134
Social security and other taxes
165,945
87,835
Other creditors
83,608
82,637
------------
------------
1,672,045
1,314,288
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
100
100
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
114,861
163,184
Later than 1 year and not later than 5 years
275,333
372,333
---------
---------
390,194
535,517
---------
---------
11. Controlling party
The company is a wholly owned subsidiary of LIS Trading Limited, a company incorporated in England.