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Company No: 13755298 (England and Wales)

LINKING TOGETHER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

LINKING TOGETHER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

LINKING TOGETHER LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
LINKING TOGETHER LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr J E Cripps
Mrs J Glenning
Miss S A Mahoney
REGISTERED OFFICE Wheal Exmouth
Christow
Exeter
EX6 7NS
England
United Kingdom
COMPANY NUMBER 13755298 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
LINKING TOGETHER LIMITED

BALANCE SHEET

As at 31 December 2023
LINKING TOGETHER LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Tangible assets 3 904,940 896,573
904,940 896,573
Current assets
Stocks 500 500
Debtors 4 53,896 8,660
Cash at bank and in hand 4,383 5,924
58,779 15,084
Creditors: amounts falling due within one year 5 ( 564,505) ( 374,783)
Net current liabilities (505,726) (359,699)
Total assets less current liabilities 399,214 536,874
Creditors: amounts falling due after more than one year 6 ( 513,226) ( 562,329)
Net liabilities ( 114,012) ( 25,455)
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account ( 114,015 ) ( 25,458 )
Total shareholders' deficit ( 114,012) ( 25,455)

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

Directors' responsibilities:

The financial statements of Linking Together Limited (registered number: 13755298) were approved and authorised for issue by the Board of Directors on 25 March 2024. They were signed on its behalf by:

Mrs J Glenning
Director
Miss S A Mahoney
Director
Mr J E Cripps
Director
LINKING TOGETHER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
LINKING TOGETHER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Linking Together Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wheal Exmouth, Christow, Exeter, EX6 7NS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £213,824. The Company is supported through loans from an associated company with directors in common, Links South West Limited. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities.

The company recognises revenue when the value of services provided to date can be reliably measured.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

Year ended
31.12.2023
Period from
19.11.2021 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 3

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 893,144 4,575 0 897,719
Additions 6,326 3,691 556 10,573
At 31 December 2023 899,470 8,266 556 908,292
Accumulated depreciation
At 01 January 2023 0 1,146 0 1,146
Charge for the financial year 0 2,067 139 2,206
At 31 December 2023 0 3,213 139 3,352
Net book value
At 31 December 2023 899,470 5,053 417 904,940
At 31 December 2022 893,144 3,429 0 896,573

Included within the net book value of land and buildings above is £899,470 (2022 - £893,144) in respect of freehold land and buildings.

4. Debtors

31.12.2023 31.12.2022
£ £
Amounts owed by directors 2,920 0
Prepayments 408 0
Deferred tax asset 50,568 8,660
53,896 8,660

5. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Bank loans 50,000 50,000
Trade creditors 147 0
Other taxation and social security 5,567 0
Other creditors 508,791 324,783
564,505 374,783

6. Creditors: amounts falling due after more than one year

31.12.2023 31.12.2022
£ £
Bank loans 513,226 562,329

The bank loan is secured on the freehold property of the company with a carrying value of £899,470 (2022 - £893,144). Interest is payable on the bank loan at a variable rate on the principal amount.

7. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

31.12.2023 31.12.2022
£ £
Links South West Limited Intercompany Account 503,851 321,832

Links South West Limited operates a loan account with Linking Together Limited. There is no fixed date of repayment and the loan bears no interest.