1 September 2022 v2024.4.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP86349002022-09-012023-08-3186349002023-08-3186349002022-08-318634900core:WithinOneYear2023-08-318634900core:WithinOneYear2022-08-318634900core:AfterOneYear2023-08-318634900core:AfterOneYear2022-08-318634900core:ShareCapital2023-08-318634900core:ShareCapital2022-08-318634900core:RetainedEarningsAccumulatedLosses2023-08-318634900core:RetainedEarningsAccumulatedLosses2022-08-318634900bus:Director12022-09-012023-08-318634900core:LandBuildings2022-09-012023-08-318634900core:LandBuildings2023-08-318634900core:LandBuildings2022-08-31863490012022-09-012023-08-3186349002021-09-012022-08-318634900countries:EnglandWales2022-09-012023-08-318634900bus:AuditExemptWithAccountantsReport2022-09-012023-08-318634900bus:PrivateLimitedCompanyLtd2022-09-012023-08-318634900bus:SmallEntities2022-09-012023-08-318634900bus:FullAccounts2022-09-012023-08-318634900bus:Director22022-09-012023-08-31
Company registration number:
8634900
Linbrook Assets Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Linbrook Assets Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Linbrook Assets Limited
Year ended
31 August 2023
As described on the statement of financial position, the Board of Directors of
Linbrook Assets Limited
are responsible for the preparation of the
financial statements
for the year ended
31 August 2023
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Taylor, Croft & Winder Ltd
16 Bond Street
Wakefield
West Yorkshire
WF1 2QP
United Kingdom
Date:
1 November 2023
Linbrook Assets Limited
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,334,978
 
1,334,978
 
Current assets    
Cash at bank and in hand
39,408
 
53,982
 
Creditors: amounts falling due within one year 6
(631,905
)
(628,258
)
Net current liabilities
(592,497
)
(574,276
)
Total assets less current liabilities 742,481   760,702  
Creditors: amounts falling due after more than one year 7
(574,338
)
(618,807
)
Net assets
168,143
 
141,895
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
168,043
 
141,795
 
Shareholders funds
168,143
 
141,895
 
For the 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.
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.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
1 November 2023
, and are signed on behalf of the board by:
D I Blamires
Director
Company registration number:
8634900
Linbrook Assets Limited
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Tangabible fixed assets are stated at cost as the directors consider the marker value exceeds cost.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
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.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or 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.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Tangible assets

Land and buildings
£
Cost  
At
1 September 2022
and
31 August 2023
1,334,978
 
Depreciation  
At
1 September 2022
and
31 August 2023
-  
Carrying amount  
At
31 August 2023
1,334,978
 
At 31 August 2022
1,334,978
 

6 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
53,011
 
22,228
 
Trade creditors
1,776
 
1,776
 
Taxation and social security
6,626
 
5,970
 
Other creditors
570,492
 
598,284
 
631,905
 
628,258
 

7 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
574,338
 
618,807