Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truetrue32022-04-01false4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05567057 2022-04-01 2023-03-31 05567057 2021-04-01 2022-03-31 05567057 2023-03-31 05567057 2022-03-31 05567057 c:Director1 2022-04-01 2023-03-31 05567057 d:Buildings 2023-03-31 05567057 d:Buildings 2022-03-31 05567057 d:CurrentFinancialInstruments 2023-03-31 05567057 d:CurrentFinancialInstruments 2022-03-31 05567057 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05567057 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05567057 d:UKTax 2022-04-01 2023-03-31 05567057 d:UKTax 2021-04-01 2022-03-31 05567057 d:ShareCapital 2023-03-31 05567057 d:ShareCapital 2022-03-31 05567057 d:SharePremium 2023-03-31 05567057 d:SharePremium 2022-03-31 05567057 d:RetainedEarningsAccumulatedLosses 2023-03-31 05567057 d:RetainedEarningsAccumulatedLosses 2022-03-31 05567057 c:FRS102 2022-04-01 2023-03-31 05567057 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05567057 c:FullAccounts 2022-04-01 2023-03-31 05567057 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05567057 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 05567057










LINNECOR & CO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
LINNECOR & CO LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
LINNECOR & CO LIMITED
REGISTERED NUMBER: 05567057

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,085,583
1,085,583

Investments
 6 
2
2

  
1,085,585
1,085,585

Current assets
  

Stocks
  
11,044
11,044

Debtors
 7 
1,010
1,443

Cash at bank and in hand
  
141,486
184,089

  
153,540
196,576

Creditors: amounts falling due within one year
 8 
(33,151)
(135,127)

Net current assets
  
 
 
120,389
 
 
61,449

Total assets less current liabilities
  
1,205,974
1,147,034

  

Net assets
  
1,205,974
1,147,034


Capital and reserves
  

Called up share capital 
  
2,698
2,698

Share premium account
  
506,074
506,074

Profit and loss account
  
697,202
638,262

  
1,205,974
1,147,034


Page 1

 
LINNECOR & CO LIMITED
REGISTERED NUMBER: 05567057
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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 17 October 2023.



Mr G A Linnecor
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LINNECOR & CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Linnecor & Co Limited is a private company limited by shares and incorporated in the England. The address of the registered office is 76 Sherifoot Lane, Four Oaks, Sutton Coldfield, B75 5DU, which is also the address of its principal place of business.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Investment properties

Investment properties are carried at cost. This is not in accordance with the provisions of FRS102 which states investment properties should be held at fair value.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.8

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.

Page 3

 
LINNECOR & CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Taxation

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).

Page 4

 
LINNECOR & CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
8,172
103,000

Adjustments in respect of previous periods
(40,632)
342


Total current tax
(32,460)
103,342






5.


Tangible fixed assets





Investment properties

£



Cost 


At 1 April 2022
1,085,583



At 31 March 2023

1,085,583






Net book value



At 31 March 2023
1,085,583



At 31 March 2022
1,085,583

Page 5

 
LINNECOR & CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2022
2



At 31 March 2023
2




Subsidiary undertaking:
The following is a UK subsidiary undertaking of the Company:
Name                                           Class of shares   Holding  Principal activity
Rocennil Developments Limited      Ordinary           100%   Property investment and development


7.


Debtors

2023
2022
£
£


Trade debtors
210
643

Other debtors
300
300

Prepayments and accrued income
500
500

1,010
1,443


Page 6

 
LINNECOR & CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,268

Amounts owed to group undertakings
7,346
12,346

Corporation tax
8,172
103,000

Other taxation and social security
2,724
3,080

Other creditors
294
819

Accruals and deferred income
14,615
14,614

33,151
135,127


Bank loans are secured against the assets of the Company.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,000 (2022: £4,000).

 
Page 7