Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetruetruetruetruetrue282023-01-01No description of principal activity33truefalse 00791017 2023-01-01 2023-12-31 00791017 2022-01-01 2022-12-31 00791017 2023-12-31 00791017 2022-12-31 00791017 2022-01-01 00791017 c:RestatedAmount 2022-12-31 00791017 d:CompanySecretary1 2023-01-01 2023-12-31 00791017 d:Director1 2023-01-01 2023-12-31 00791017 d:Director2 2023-01-01 2023-12-31 00791017 d:Director3 2023-01-01 2023-12-31 00791017 d:Director3 2023-12-31 00791017 d:RegisteredOffice 2023-01-01 2023-12-31 00791017 c:Buildings c:LongLeaseholdAssets 2023-01-01 2023-12-31 00791017 c:Buildings c:LongLeaseholdAssets 2023-12-31 00791017 c:Buildings c:LongLeaseholdAssets 2022-12-31 00791017 c:LandBuildings 2023-12-31 00791017 c:LandBuildings 2022-12-31 00791017 c:MotorVehicles 2023-01-01 2023-12-31 00791017 c:MotorVehicles 2023-12-31 00791017 c:MotorVehicles 2022-12-31 00791017 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00791017 c:FurnitureFittings 2023-01-01 2023-12-31 00791017 c:FurnitureFittings 2023-12-31 00791017 c:FurnitureFittings 2022-12-31 00791017 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00791017 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00791017 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 00791017 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 00791017 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 00791017 c:CurrentFinancialInstruments 2023-12-31 00791017 c:CurrentFinancialInstruments 2022-12-31 00791017 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 00791017 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 00791017 c:ReportableOperatingSegment1 2023-01-01 2023-12-31 00791017 c:ReportableOperatingSegment1 2022-01-01 2022-12-31 00791017 e:UnitedKingdom 2023-01-01 2023-12-31 00791017 e:UnitedKingdom 2022-01-01 2022-12-31 00791017 c:UKTax 2023-01-01 2023-12-31 00791017 c:UKTax 2022-01-01 2022-12-31 00791017 c:ShareCapital 2023-01-01 2023-12-31 00791017 c:ShareCapital 2023-12-31 00791017 c:ShareCapital 2022-01-01 2022-12-31 00791017 c:ShareCapital 2022-12-31 00791017 c:ShareCapital 2022-01-01 00791017 c:SharePremium 2023-01-01 2023-12-31 00791017 c:SharePremium 2023-12-31 00791017 c:SharePremium 2022-01-01 2022-12-31 00791017 c:SharePremium 2022-12-31 00791017 c:SharePremium c:RestatedAmount 2022-12-31 00791017 c:SharePremium 2022-01-01 00791017 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00791017 c:RetainedEarningsAccumulatedLosses 2023-12-31 00791017 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 00791017 c:RetainedEarningsAccumulatedLosses 2022-12-31 00791017 c:RetainedEarningsAccumulatedLosses c:RestatedAmount 2022-12-31 00791017 c:RetainedEarningsAccumulatedLosses 2022-01-01 00791017 d:OrdinaryShareClass1 2023-01-01 2023-12-31 00791017 d:OrdinaryShareClass1 2023-12-31 00791017 d:OrdinaryShareClass1 2022-12-31 00791017 d:FRS102 2023-01-01 2023-12-31 00791017 d:Audited 2023-01-01 2023-12-31 00791017 d:FullAccounts 2023-01-01 2023-12-31 00791017 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00791017 c:WithinOneYear 2023-12-31 00791017 c:WithinOneYear 2022-12-31 00791017 c:BetweenOneFiveYears 2023-12-31 00791017 c:BetweenOneFiveYears 2022-12-31 00791017 2 2023-01-01 2023-12-31 00791017 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2023-01-01 2023-12-31 00791017 c:SharePremium c:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 00791017 c:RetainedEarningsAccumulatedLosses c:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 00791017 c:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 00791017 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00791017










LINDNER INTERIORS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LINDNER INTERIORS LIMITED
 
 
COMPANY INFORMATION


Directors
M Schmidhuber 
A J Fegbeutel 
P S Sumsion (resigned 15 September 2023)




Company secretary
A J Fegbeutel



Registered number
00791017



Registered office
Unit 14,Perrywood Business Park
Honeycrock Lane

Redhill

RH1 5JQ




Independent auditors
MHA

6th Floor

2 London Wall Place

London

EC2Y 5AU





 
LINDNER INTERIORS LIMITED
 

CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Statement of Comprehensive Income
9
Statement of Financial Position
10
Statement of Changes in Equity
11 - 12
Notes to the Financial Statements
13 - 25


 
LINDNER INTERIORS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Business review
 
The principal activity of the company in the year under review was that of interior fit out services.
Turnover for the year ending 31 December 2023 decreased by 23.4% to £11,488,828. The gross margin for the year was £1,836,373. The year ended with a loss before tax of £134,500. The loss in the year was driven by increased costs on the completion of an insulation technology project and the decreased turnover in the year.
 
The company retains a strong balance sheet of £3,203,968 and continues to be an integral part of the Lindner Group. The company remains self-financing with no external borrowing and a cash position at year end of £1,705,089. 
The strong order back log at the end of December 2023 of £25.8M provides a strong base for profits in 2024.  

Principal risks and uncertainties
 
Lindner Interiors Limited is managed in accordance with the risk principles adopted by the Lindner Group. The company strives through rigorous management review of its key performance indicators, to increase and improve its capability and competence through constant innovation and continuous improvement.
A principal risk facing specialist contractors is ensuring that contracts are completed to a first class quality, on time and within budget. Close management review and monitoring of projects ensures that this is achieved. The management systems of the company have been reviewed, audited and have successfully been awarded certification for ISO9001, 14001 and 18001 by TÜV SUD. The company’s uncompromising approach to the health and safety of every employee, client and supplier is a key cornerstone of the company’s systems. The Directors and management teams comprehensively review safety performance as a priority at all management meetings. The company has credit insurance on most of its customers and operates within terms to minimise exposure to bad debts.

Financial key performance indicators
 
The directors have monitored the progress of the company's strategic elements by reference to certain financial
key performance indicators:
         
2023   2022
 Turnover          £11,488,828     £15,001,239
 Gross Profit margin              16%           9%
 Cash at bank and in hand          £1,705,089       £2,747,838

Page 1

 
LINDNER INTERIORS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Future development
 
The directors are aware of the competitive pressures in the market place and the impact of the wider economy on the construction industry, however the directors feel the company is well placed for future profitable growth.


This report was approved by the board and signed on its behalf.



................................................
M Schmidhuber
Director

Date: 8 August 2024

Page 2

 
LINDNER INTERIORS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £134,500 (2022 - loss £872,010).

The directors recommend no final dividend for the year ended 31 December 2023.

Directors

The directors who served during the year were:

M Schmidhuber 
A J Fegbeutel 
P S Sumsion (resigned 15 September 2023)

Page 3

 
LINDNER INTERIORS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Environmental matters
The company recognises and accepts that concern for the environment is an integral and fundamental part of its business strategy and operating methods. The company's environmental policy is applicable and operated in all its markets.


Matters covered in the Strategic report
In accordance with section 414C(11) of the Companies Act 2006, the company has chosen to include information relating to future developments in the Strategic Report.
 
Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006MHA will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





................................................
M Schmidhuber
Director

Date: 8 August 2024

Page 4

 
LINDNER INTERIORS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINDNER INTERIORS LIMITED
 

Opinion


We have audited the financial statements of Lindner Interiors Limited (the 'Company') for the year ended 31 December 2023, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2023 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 5

 
LINDNER INTERIORS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINDNER INTERIORS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
LINDNER INTERIORS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINDNER INTERIORS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
Enquiry of management and those charged with governance around actual and potential litigation and claims;
Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations;
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
Reviewing minutes of meetings of those charged with governance and
Reviewing financial statement disclosures and testing to supporting documentation to assess complianc

with applicable laws and regulations.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 7

 
LINDNER INTERIORS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LINDNER INTERIORS LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Neil Stern FCA (Senior Statutory Auditor)
  
for and on behalf of
MHA
 
6th Floor
2 London Wall Place
London
EC2Y 5AU

8 August 2024
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered umber OC312313)
Page 8

 
LINDNER INTERIORS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

  

Turnover
 4 
11,488,828
15,001,239

Cost of sales
  
(9,652,455)
(13,645,276)

Gross profit
  
1,836,373
1,355,963

Administrative expenses
  
(2,020,645)
(2,428,830)

Operating loss
 5 
(184,272)
(1,072,867)

Interest receivable and similar income
 8 
49,772
50,299

Loss before tax
  
(134,500)
(1,022,568)

Tax on loss
 9 
-
150,558

Loss for the financial year
  
(134,500)
(872,010)

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 13 to 25 form part of these financial statements.

Page 9

 
LINDNER INTERIORS LIMITED
REGISTERED NUMBER: 00791017

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 10 
-
89,858

Tangible assets
 11 
113,411
148,352

  
113,411
238,210

Current assets
  

Stocks
 12 
-
71,937

Debtors: amounts falling due within one year
 13 
4,100,177
3,103,671

Cash at bank and in hand
  
1,705,089
2,747,838

  
5,805,266
5,923,446

Creditors: amounts falling due within one year
 14 
(2,714,709)
(2,823,188)

Net current assets
  
 
 
3,090,557
 
 
3,100,258

  

Net assets
  
3,203,968
3,338,468


Capital and reserves
  

Called up share capital 
 15 
10,344,211
10,344,211

Share premium account
 16 
376,296
376,296

Profit and loss account
 16 
(7,516,539)
(7,382,039)

  
3,203,968
3,338,468


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A J Fegbeutel
Director

Date: 8 August 2024

The notes on pages 13 to 25 form part of these financial statements.

Page 10

 
LINDNER INTERIORS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023 (as previously stated)
10,344,211
376,296
(7,560,178)
3,160,329

Prior year adjustment
-
-
178,139
178,139

At 1 January 2023 (as restated)
10,344,211
376,296
(7,382,039)
3,338,468


Comprehensive income for the year

Loss for the year
-
-
(134,500)
(134,500)
Total comprehensive income for the year
-
-
(134,500)
(134,500)


Total transactions with owners
-
-
-
-


At 31 December 2023
10,344,211
376,296
(7,516,539)
3,203,968


The notes on pages 13 to 25 form part of these financial statements.

Page 11

 
LINDNER INTERIORS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
10,344,211
376,296
(6,510,029)
4,210,478


Comprehensive income for the year

Loss for the year
-
-
(872,010)
(872,010)
Total comprehensive income for the year
-
-
(872,010)
(872,010)


Total transactions with owners
-
-
-
-


At 31 December 2022
10,344,211
376,296
(7,382,039)
3,338,468


The notes on pages 13 to 25 form part of these financial statements.

Page 12

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Lindner Interiors Limited is a private company limited by shares, incorporated in England and Wales within the UK. The address of the registered office and the registration number are given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Lindner Group KG as at 31 December 2023 and these financial statements may be obtained from Bahnhofstrasse 29, 94424 Arnstorf, Germany.

 
2.3

Going concern

As at 31 December 2023 the company had net assets of £3,203,968 (2022: £3,338,468). After making enquiries and considering the trading performance of the company and the available cash the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Page 13

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 14

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 15

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
on cost
Motor vehicles
-
25%
to 50% on cost
Fixtures and fittings
-
20%
to 50% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 16

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.17

Financial instruments

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.
All non-basic financial instruments, including derivatives, are recognised at fair value using a valuation technique with any gains or losses being reported in the profit or loss. 

Page 17

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

There were no significant judgments made by management in applying the accounting policies of the company. The key estimation uncertainty impacting the company's activities relates to the measurement of the performance of long term contracts. Signifcant levels of revenue in the year relates to long term contracts in the construction industry and management is required to make estimates regarding the future performance of those contracts in determining current year performance. The carrying amount of the year end assets and liabilities relating to long term contracts are dislcosed in notes 13 and 14 of the financial statements.


4.


Turnover

2023
2022
£
£

Revenue from construction contracts
11,488,828
15,001,239


2023
2022
£
£

United Kingdom
11,488,828
15,001,239


All turnover arose within the United Kingdom.


5.


Operating loss

The operating loss is stated after charging:

2023
2022
£
£

Exchange differences
82,317
149,746

Auditor's remuneration
23,320
21,000

Auditor's remuneration - tax services
1,600
2,250

Auditor's remuneration - other services
2,816
3,336

Page 18

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
1,853,553
2,073,019

Social security costs
202,034
250,482

Cost of defined contribution scheme
89,469
101,609

2,145,056
2,425,110


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3



Administration
3
3



Sales
5
7



Production
17
20

28
33


7.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
206,056
155,230

Company contributions to defined contribution pension schemes
12,354
12,767

218,410
167,997


During the year retirement benefits were accruing to 1 directors (2022 - 1) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £206,056 (2022 - £155,230).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £12,354 (2022 - £12,767).

Page 19

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Interest receivable

2023
2022
£
£


Other interest receivable
49,772
50,299


9.


Taxation


2023
2022
£
£



Group taxation relief
-
(150,558)


Total current tax
-
(150,558)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - lower than) the standard rate of corporation tax in the UK of 23.5% (2022 - 19%). The differences are explained below:

As restated
2023
2022
£
£


Loss on ordinary activities before tax
(134,500)
(1,022,568)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.5% (2022 - 19%)
(31,608)
(194,288)

Effects of:


Expenses not deductible for tax purposes
27,649
362

Depreciation for year in excess of capital allowances
4,180
2,980

Adjustments to tax charge in respect of prior periods
-
(150,558)

Trading losses carried forward
-
190,946

Trading losses brought forward
(221)
-

Total tax charge for the year
-
(150,558)

Page 20

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Taxation (continued)


Factors that may affect future tax charges

At 31 December 2023 there is a potential deferred tax asset of £2,339,240 representing trading tax losses of £9,356,960 at the enacted rate of 25% (2022: £2,339,476 representing trading tax losses of £9,357,902 at the enacted rate of 25%). The deferred tax asset has not been recognised due to the uncertainty that future profits will arise against which the losses carried forward can be relieved against.


10.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
468,763


Disposals
(468,763)



At 31 December 2023

-



Amortisation


At 1 January 2023
378,905


Charge for the year on owned assets
55,280


On disposals
(434,185)



At 31 December 2023

-



Net book value



At 31 December 2023
-



At 31 December 2022
89,858



Page 21

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 January 2023
579,817
21,931
180,754
782,502


Additions
-
-
1,828
1,828


Disposals
-
(21,931)
(1,219)
(23,150)



At 31 December 2023

579,817
-
181,363
761,180



Depreciation


At 1 January 2023
444,684
21,931
167,535
634,150


Charge for the year on owned assets
28,083
-
8,158
36,241


Disposals
-
(21,931)
(691)
(22,622)



At 31 December 2023

472,767
-
175,002
647,769



Net book value



At 31 December 2023
107,050
-
6,361
113,411



At 31 December 2022
135,133
-
13,219
148,352




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
107,050
135,133

107,050
135,133


Page 22

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Stocks

2023
2022
£
£

Raw materials and consumables
-
71,937

-
71,937



13.


Debtors

2023
2022
£
£


Trade debtors
1,385,147
1,634,843

Amounts owed by group undertakings
41
151,580

Other debtors
8,723
9,455

Prepayments and accrued income
1,232,393
20,918

Amounts recoverable on long term contracts
1,473,873
1,286,875

4,100,177
3,103,671



14.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Amounts due on long term contracts
348,547
1,114,762

Trade creditors
285,946
334,176

Amounts owed to group undertakings
1,336,688
642,923

Other taxation and social security
104,980
287,142

Other creditors
252,860
252,575

Accruals and deferred income
385,688
191,610

2,714,709
2,823,188



15.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,344,211 (2022 - 10,344,211) ordinary shares of £1 each
10,344,211
10,344,211


Page 23

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

16.


Reserves

Share premium account

Share premium represents the excess amount subscribed for share capital over the nominal value of the shares.

Profit and loss account

The Profit and loss account represents the cumulative profits and losses of the company.


17.


Prior year adjustment

The prior year adjustment relates to the reversal of a general allowance for remedial costs carried against contracts. The allowance amount at 1 January 2022 was £145,860 and during the prior year this increased by £32,279 to £178,139 at 31 December 2022. The remedial costs allowance was included in the prior year line item Accruals and deferred income included in note 14 to the financial statements. 
The prior year amounts for revenue and cost of sales were both adjusted by £1,042,526. This adjustment had no effect on the loss for the prior year or the carrying value of the net assets of the company on 31 December 2022. 


18.


Contingent liabilities

In the ordinary course of business the company has given counter indemnities in respect of performance bonds and guarantees totalling £11,529,594 (2022: £12,250,977).


19.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £89,469 (2022: £101,609). Contributions totaling £11,398 (2022: £14,062) were payable to the fund at the balance sheet date and are included in creditors.


20.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
63,229
42,624

Later than 1 year and not later than 5 years
117,544
138,528

180,773
181,152

Page 24

 
LINDNER INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

21.


Related party transactions

The following transactions and balances at the year end with non-wholly owned members of the group are as below.
At the year end the company was owed £41 (2022: owed £354) from Lindner Finanz GmbH. The company received interest of £41 (2022: paid interest of £6,089) from Lindner Finanz GmbH during the year.
At the year end the company owed £1,158,320 (2022: was owed £668) to Lindner Isoliertechnik & Indutrieservice GmbH. During the year the company incurred costs of £1,191,571 (2022: £2,445,404) for services provided by Lindner Isoliertechnik & Industrieservice GmbH. 
At the year end the company owed £70,149 (2022: £587,067) to Lindner SE. During the year the company incurred costs of £1,206,241 (2022: £2,078,272) for services provided by Lindner SE.
At the year end the company owed £560 (2022: £nil) to Lindner MK Hotels Limited. During the year the company incurred costs of £3,670 (2022: £960) relating to services provided by Lindner MK Hotels Limited.
All loans are interest free and payable on demand. 


22.


Controlling party

In the opinion of the directors, the parent undertaking of the smallest group of undertakings for which group financial statements are drawn up and of which the company is Lindner GmbH, a company incorporated in Austria. 
The ultimate parent company and parent undertaking of the largest group of undertakings for which group financial statements are drawn up and of which the company is a member is Lindner Group KG, a company incorporated in Germany. Copies of these group financial statements are available from Bahnhofstrasse 29, 94424, Arnstorf, Germany.
In the opinion of the directors the ultimate controlling party is Lindner Group KG.

 
Page 25