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2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04167650
2022-04-01
2023-03-31
04167650
2023-03-31
04167650
2021-04-01
2022-03-31
04167650
2022-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2023-03-31
04167650
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2022-03-31
04167650
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2023-03-31
04167650
core:ShareCapital
2022-03-31
04167650
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2023-03-31
04167650
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2022-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2022-04-01
2023-03-31
04167650
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2023-03-31
04167650
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04167650
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2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
04167650
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2023
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Linnells Limited |
|
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Linnells Limited for the year ended 31 March 2023, which comprise the statement of financial position 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Linnells Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Linnells Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Linnells Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Linnells 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 Linnells Limited. You consider that Linnells 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 Linnells 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.
WALTER HUNTER & CO LIMITED
Chartered accountants
24 Bridge Street
Newport
South Wales
NP20 4SF
30 October 2023
Statement of Financial Position |
|
31 March 2023
Current assets
Debtors |
5 |
14,733 |
24,545 |
Cash at bank and in hand |
44,889 |
15,947 |
|
-------- |
-------- |
|
59,622 |
40,492 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
20,722 |
22,267 |
|
-------- |
-------- |
Net current assets |
38,900 |
18,225 |
|
-------- |
-------- |
Total assets less current liabilities |
38,900 |
18,225 |
|
-------- |
-------- |
Net assets |
38,900 |
18,225 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
78 |
78 |
Profit and loss account |
38,822 |
18,147 |
|
-------- |
-------- |
Shareholders funds |
38,900 |
18,225 |
|
-------- |
-------- |
|
|
|
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 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
.
Statement of Financial Position (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
30 October 2023
, and are signed on behalf of the board by:
Mr T Parker |
Mr M Steven |
Director |
Director |
|
|
Company registration number:
04167650
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 Gold Tops House, Pentonville, Newport, NP20 5HB.
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.
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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
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 |
- |
20% reducing balance |
|
|
|
|
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2022:
6
).
This includes the directors of the company.
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
14,733 |
19,467 |
Other debtors |
– |
5,078 |
|
-------- |
-------- |
|
14,733 |
24,545 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
420 |
11,867 |
Corporation tax |
7,653 |
10,400 |
Social security and other taxes |
11,188 |
– |
Other creditors |
1,461 |
– |
|
-------- |
-------- |
|
20,722 |
22,267 |
|
-------- |
-------- |
|
|
|