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Registration number: 02900927

Link-Up Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Link-Up Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Link-Up Limited

Company Information

Directors

L Bishop

IE Bishop

Registered office

Unit J
Holder Road
Aldershot
GU12 4RH

Accountants

NJ Barker Limited
37, Telegraph Lane
Four Marks
Hampshire
GU34 5AX

 

Link-Up Limited

(Registration number: 02900927)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,420

3,630

Tangible assets

5

24,430

15,951

 

26,850

19,581

Current assets

 

Stocks

6

48,438

52,000

Debtors

7

40,330

7,263

Cash at bank and in hand

 

-

24,664

 

88,768

83,927

Creditors: Amounts falling due within one year

8

(82,152)

(76,501)

Net current assets

 

6,616

7,426

Total assets less current liabilities

 

33,466

27,007

Creditors: Amounts falling due after more than one year

8

(52,083)

-

Provisions for liabilities

(4,286)

(2,369)

Net (liabilities)/assets

 

(22,903)

24,638

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(23,003)

24,538

Shareholders' (deficit)/funds

 

(22,903)

24,638

 

Link-Up Limited

(Registration number: 02900927)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................
L Bishop
Director

 

Link-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
Unit J
Holder Road
Aldershot
GU12 4RH

These financial statements were authorised for issue by the Board on 7 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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Link-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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

Land and buildings

Straight line over term of lease

Plant and machinery

25% reducing balance

Furniture and fittings

25% reducing balance

Office equipment

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

20% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 9).

 

Link-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 March 2022

6,050

At 28 February 2023

6,050

Amortisation

At 1 March 2022

2,420

Amortisation charge

1,210

At 28 February 2023

3,630

Carrying amount

At 28 February 2023

2,420

At 28 February 2022

3,630

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

4,875

5,723

87,434

-

98,032

Additions

-

13,182

1,082

1,129

15,393

At 28 February 2023

4,875

18,905

88,516

1,129

113,425

Depreciation

At 1 March 2022

1,395

4,171

76,515

-

82,081

Charge for the year

1,609

2,163

2,897

245

6,914

At 28 February 2023

3,004

6,334

79,412

245

88,995

Carrying amount

At 28 February 2023

1,871

12,571

9,104

884

24,430

At 28 February 2022

3,480

1,552

10,919

-

15,951

Included within the net book value of land and buildings above is £1,871 (2022 - £3,480) in respect of short leasehold land and buildings.
 

 

Link-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Stocks

2023
£

2022
£

Other inventories

48,438

52,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

14,948

5,820

Prepayments

2,254

1,387

Other debtors

23,128

56

 

40,330

7,263

 

Link-Up Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

26,324

-

Trade creditors

 

19,308

23,733

Taxation and social security

 

9,115

23,461

Accruals and deferred income

 

2,957

1,746

Other creditors

 

24,448

27,561

 

82,152

76,501

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

52,083

-

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

52,083

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

12,500

-

Bank overdrafts

13,824

-

26,324

-