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Registration number: 04878014

Link Communications Systems Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Link Communications Systems Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Link Communications Systems Ltd

Company Information

Director

Mr David Bunyan

Company secretary

Hossein Samadian

Registered office

First Floor
Lyttelton House
2 Lyttelton Road
London
N2 0EF

Accountants

ZAS Accountancy & Tax Ltd
Chartered Certified Accountants
Suite 427 Legacy Centre
Hampton Road West
Feltham
Middlesex
TW13 6DH

 

Link Communications Systems Ltd

(Registration number: 04878014)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

36,359

41,901

Cash at bank and in hand

 

263,423

274,200

 

299,782

316,101

Creditors: Amounts falling due within one year

6

(463,348)

(469,445)

Total assets less current liabilities

 

(163,566)

(153,344)

Creditors: Amounts falling due after more than one year

6

(14,994)

(24,182)

Net liabilities

 

(178,560)

(177,526)

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

(178,760)

(177,726)

Shareholders' deficit

 

(178,560)

(177,526)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Link Communications Systems Ltd

(Registration number: 04878014)
Balance Sheet as at 31 August 2023

Approved and authorised by the director on 9 November 2023
 

.........................................
Mr David Bunyan
Director

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
First Floor
Lyttelton House
2 Lyttelton Road
London
N2 0EF

These financial statements were authorised for issue by the director on 9 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is pound sterling (£).

Going concern

The financial statements have been prepared on a going concern basis as the company has the continued support of its shareholders. In the opinion of the Directors, this support will not be withdrawn in the foreseeable future. Hence, the Directors consider that it is appropriate to prepare the financial statements on the going concern basis.

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33.33% on cost

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 September 2022

61,360

61,360

Disposals

(60,360)

(60,360)

At 31 August 2023

1,000

1,000

Depreciation

At 1 September 2022

61,360

61,360

Eliminated on disposal

(60,360)

(60,360)

At 31 August 2023

1,000

1,000

Carrying amount

At 31 August 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

23,437

19,287

Prepayments

9,192

16,056

Other debtors

3,730

6,558

 

36,359

41,901

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,051

8,828

Trade creditors

 

52,892

40,688

Taxation and social security

 

5,122

-

Accruals and deferred income

 

37,564

46,100

Other creditors

 

358,719

373,829

 

463,348

469,445

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

14,994

24,182

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

200

200

200

200

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

14,994

24,182

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,051

8,828

Bank borrowings

Bounce back loan is denominated in Pounds Sterling with a nominal interest rate of 2.5%, and the final instalment is due on 6 May 2026. The carrying amount at year end is £24,045 (2022 - £33,010).

The company has taken out a Bounce Back loan to help counter the impact of Covid-19. The loan is repayable over 6 years with no payments due in the first year. Interest is payable from the second year. The first 12 months interest is covered by a government grant and a proportionate amount is recognised as grant income.

9

Related party transactions

 

Link Communications Systems Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Other transactions with the director

At the year-end, the company owed the directors £333,365. This loan is interest free and has no set repayment terms.