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REGISTERED NUMBER: SC680718 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

LINKS COSMETIC LIMITED

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LINKS COSMETIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: M J Skimming
Ms L Wilson





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC680718 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 619,239 825,652
Tangible assets 5 82,090 79,181
701,329 904,833

CURRENT ASSETS
Debtors 6 93,559 1,065
Cash at bank and in hand 112,649 599,830
206,208 600,895
CREDITORS
Amounts falling due within one year 7 832,641 1,328,229
NET CURRENT LIABILITIES (626,433 ) (727,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,896

177,499

CREDITORS
Amounts falling due after more than one
year

8

(57,787

)

(153,458

)

PROVISIONS FOR LIABILITIES (14,395 ) (15,045 )
NET ASSETS 2,714 8,996

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,704 8,986
2,714 8,996

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

BALANCE SHEET - continued
31 MAY 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 8 December 2023 and were signed on its behalf by:





M J Skimming - Director


LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Links Cosmetic 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on a straight line basis
Plant and machinery - 20% on a straight line basis
Computer equipment - 25% on a straight line basis

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.

Deferred tax
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 1,032,065
AMORTISATION
At 1 June 2022 206,413
Charge for year 206,413
At 31 May 2023 412,826
NET BOOK VALUE
At 31 May 2023 619,239
At 31 May 2022 825,652

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2022 - 89,087 4,516 93,603
Additions 7,365 14,436 3,376 25,177
At 31 May 2023 7,365 103,523 7,892 118,780
DEPRECIATION
At 1 June 2022 - 13,801 621 14,422
Charge for year 1,040 19,810 1,418 22,268
At 31 May 2023 1,040 33,611 2,039 36,690
NET BOOK VALUE
At 31 May 2023 6,325 69,912 5,853 82,090
At 31 May 2022 - 75,286 3,895 79,181

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 90,536 536
Other debtors 3,023 529
93,559 1,065

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,302 2,732
Hire purchase contracts 5,671 5,671
Trade creditors 18,442 18,306
Amounts owed to associates 374,086 783,451
Taxation and social security 52,373 37,913
Other creditors 377,767 480,156
832,641 1,328,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 12,787 18,458
Other creditors 45,000 135,000
57,787 153,458