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REGISTERED NUMBER: SC541313 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Coul Links Limited

Coul Links Limited (Registered number: SC541313)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Coul Links Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M Keiser
T E Warnock





SECRETARY: Macleod & MacCallum





REGISTERED OFFICE: 28 Queensgate
Inverness
Highland
IV1 1YN





REGISTERED NUMBER: SC541313 (Scotland)





ACCOUNTANTS: Mackay & Co
Chartered Accountants
Unit 8
Golspie Business Park
Golspie
Sutherland
KW10 6UB

Coul Links Limited (Registered number: SC541313)

Abridged Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,477 13,423

CURRENT ASSETS
Debtors 5 1,656,441 1,655,539
Cash at bank 13,284 32,783
1,669,725 1,688,322
CREDITORS
Amounts falling due within one year 8,543 5,416
NET CURRENT ASSETS 1,661,182 1,682,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,665,659

1,696,329

CREDITORS
Amounts falling due after more than
one year

2,378,071

2,318,071
NET LIABILITIES (712,412 ) (621,742 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (712,413 ) (621,743 )
SHAREHOLDERS' FUNDS (712,412 ) (621,742 )

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

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

Coul Links Limited (Registered number: SC541313)

Abridged Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 April 2024 and were signed on its behalf by:





T E Warnock - Director


Coul Links Limited (Registered number: SC541313)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Coul Links 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.

The accounts are prepared on a going concern basis, not withstanding the deficit reflected on the balance sheet. The directors have advanced substantial loans which are interest free and have no fixed repayment terms. However the directors have agreed not to seek repayment of the loans for at least 12 months from the date of approval of these financial statements and until the company has sufficient funds to do so.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at variable rates on reducing balance

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.

Coul Links Limited (Registered number: SC541313)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
As at the 31st July 2023 the company Balance Sheet was in deficit by £712,412, however, this is more than represented by loans from the directors. The loans are currently not accruing interest, have no fixed date for repayment and will be available for the foreseeable future, consequently these accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 42,620
Disposals (35,600 )
At 31 July 2023 7,020
DEPRECIATION
At 1 August 2022 29,197
Charge for year 498
Eliminated on disposal (27,152 )
At 31 July 2023 2,543
NET BOOK VALUE
At 31 July 2023 4,477
At 31 July 2022 13,423

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 1,656,434 1,654,759

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Coul Links Holding Company LLC.