1 September 2022 v2024.4.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP061920932022-09-012023-08-31061920932023-08-31061920932022-08-3106192093core:WithinOneYear2023-08-3106192093core:WithinOneYear2022-08-3106192093core:AfterOneYear2023-08-3106192093core:AfterOneYear2022-08-3106192093core:ShareCapital2023-08-3106192093core:ShareCapital2022-08-3106192093core:RevaluationReserve2023-08-3106192093core:RevaluationReserve2022-08-3106192093core:RetainedEarningsAccumulatedLosses2023-08-3106192093core:RetainedEarningsAccumulatedLosses2022-08-3106192093bus:Director12022-09-012023-08-3106192093bus:RegisteredOffice2022-09-012023-08-3106192093core:LandBuildings2022-09-012023-08-3106192093core:FurnitureFittingsToolsEquipment2022-09-012023-08-31061920932021-09-012022-08-3106192093core:LandBuildings2022-09-0106192093core:PlantMachinery2022-09-01061920932022-09-0106192093core:PlantMachinery2022-09-012023-08-3106192093core:LandBuildings2023-08-3106192093core:PlantMachinery2023-08-3106192093core:LandBuildings2022-08-3106192093core:PlantMachinery2022-08-3106192093core:CostValuation2022-09-0106192093core:CostValuation2023-08-310619209312022-09-012023-08-3106192093countries:EnglandWales2022-09-012023-08-3106192093bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3106192093bus:PrivateLimitedCompanyLtd2022-09-012023-08-3106192093bus:SmallEntities2022-09-012023-08-3106192093bus:FullAccounts2022-09-012023-08-3106192093bus:Director22022-09-012023-08-31
Company registration number:
06192093
Linkwood Solutions Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Linkwood Solutions Limited
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Tangible assets 5
695,967
 
698,259
 
Investments 6
232,925
 
232,925
 
928,892
 
931,184
 
Current assets    
Debtors 7
1,729
 
1,595
 
Cash at bank and in hand
16,731
 
25,801
 
18,460
 
27,396
 
Creditors: amounts falling due within one year 8
(67,375
)
(24,667
)
Net current (liabilities)/assets
(48,915
)
2,729
 
Total assets less current liabilities 879,977   933,913  
Creditors: amounts falling due after more than one year 9
(7,735
)
(12,184
)
Provisions for liabilities
(50,285
)
(50,285
)
Net assets
821,957
 
871,444
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Revaluation reserve
254,763
 
254,763
 
Profit and loss account
566,194
 
615,681
 
Shareholders funds
821,957
 
871,444
 
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
14 February 2024
, and are signed on behalf of the board by:
Mr J N Lamb
Director
Company registration number:
06192093
Linkwood Solutions Limited
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Vine Barn
,
Village Green
,
Northchapel, Petworth
,
West Sussex
,
GU28 9HU
, United Kingdom.

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.

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
Investment property at fair value, Land at cost
Fixtures, fittings and equipment
10% to 50% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 September 2022
662,217
 
176,286
 
838,503
 
Additions -  
3,758
 
3,758
 
At
31 August 2023
662,217
 
180,044
 
842,261
 
Depreciation      
At
1 September 2022
-  
140,244
 
140,244
 
Charge -  
6,050
 
6,050
 
At
31 August 2023
-  
146,294
 
146,294
 
Carrying amount      
At
31 August 2023
662,217
 
33,750
 
695,967
 
At 31 August 2022
662,217
 
36,042
 
698,259
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20232022
££
Aggregate historical cost 224,952   224,952  
Carrying amount 224,952   224,952  

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2023
£
Carrying value at
1 September 2022
and
31 August 2023
530,000
 

6 Investments

Other investments other than loans
£
Cost  
At
1 September 2022
232,925
 
At
31 August 2023
232,925
 
Impairment  
At
1 September 2022
and
31 August 2023
-  
Carrying amount  
At
31 August 2023
232,925
 
At 31 August 2022
232,925
 

7 Debtors

20232022
££
Trade debtors
362
 
569
 
Other debtors
1,367
 
1,026
 
1,729
 
1,595
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
4,500
 
4,500
 
Trade creditors
874
 
189
 
Taxation and social security
132
 
62
 
Other creditors
61,869
 
19,916
 
67,375
 
24,667
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
7,735
 
12,184