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REGISTERED NUMBER: SC296099 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

LINEA CONSTRUCTION LIMITED

LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

LINEA CONSTRUCTION LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J T Payne
J A Fergusson





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC296099 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,624 11,496

CURRENT ASSETS
Development costs - 77,247
Debtors 6 466,394 323,254
Cash at bank and in hand 151,180 251,401
617,574 651,902
CREDITORS
Amounts falling due within one year 7 318,315 227,876
NET CURRENT ASSETS 299,259 424,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,883

435,522

CREDITORS
Amounts falling due after more than one
year

8

(21,579

)

(31,613

)

PROVISIONS FOR LIABILITIES (1,259 ) (2,184 )
NET ASSETS 283,045 401,725

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 282,945 401,625
SHAREHOLDERS' FUNDS 283,045 401,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Balance Sheet - continued
31 March 2023


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

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 13 October 2023 and were signed on its behalf by:




J T Payne - Director



J A Fergusson - Director


LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Linea Construction Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from various construction projects carried out by the company.

Turnover is measured at the fair value of the construction projects carried out, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Development costs
Development costs are stated at the lower of cost and net realisable value. Cost includes all direct costs associated with the development including interest where applicable. Net realisable value takes in account costs associated with selling the development.

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.


LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 66,861
DEPRECIATION
At 1 April 2022 55,365
Charge for year 4,872
At 31 March 2023 60,237
NET BOOK VALUE
At 31 March 2023 6,624
At 31 March 2022 11,496

LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 18,400
DEPRECIATION
At 1 April 2022
and 31 March 2023 11,550
NET BOOK VALUE
At 31 March 2023 6,850
At 31 March 2022 6,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 355,200 91,593
Other debtors 111,194 231,661
466,394 323,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 84,139 10,053
Hire purchase contracts - 1,562
Trade creditors 99,053 130,138
Taxation and social security 128,623 65,227
Other creditors 6,500 20,896
318,315 227,876

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 21,579 31,613

LINEA CONSTRUCTION LIMITED (REGISTERED NUMBER: SC296099)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 31,667 41,666
Hire purchase contracts - 1,562
31,667 43,228

The hire purchase contracts are secured over the assets concerned.

The bank loan is supported by a 100% guarantee from the UK Government.

10. RELATED PARTY DISCLOSURES

The directors are directors and shareholders of Linea 172A Ltd, Linea 172B Ltd and Linea Developments Ltd.

The company loaned monies to the related parties with interest charged at 3.5%.

During the year, Linea 172A Ltd repaid £23,812 of it's loan to the company. The year end the balance due from Linea 172A Ltd at the year end was £7,284 (2022 - £31,096). Linea 172B Ltd repaid £65,384 of it's loan to the company during the year. The balance due from Linea 172B Ltd at the year end was £673 (2022 - £66,057). Finally, Linea Developments Ltd repaid £20,350 of its loan to the company during the year. The balance due from Linea Developments Ltd at the year end was £99,041 (2022 - £119,391).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Linea Construction Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Linea Construction Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Linea Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Linea Construction Limited and state those matters that we have agreed to state to the Board of Directors of Linea Construction Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Linea Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Linea Construction Limited. You consider that Linea Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Linea Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


13 October 2023