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REGISTERED NUMBER: 03046907 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Link Microtek Limited

Link Microtek Limited (Registered number: 03046907)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Link Microtek Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: H J Bibby
S G Cranstone
W G Cranstone
S J Hendry





REGISTERED OFFICE: High Point
Church Street
Basingstoke
Hampshire
RG21 7QN





REGISTERED NUMBER: 03046907 (England and Wales)





ACCOUNTANTS: LMW Limited
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Link Microtek Limited (Registered number: 03046907)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 75,137 76,091
Investments 6 - 6,524
Investment property 7 120,000 120,000
195,137 202,615

CURRENT ASSETS
Stocks 183,929 187,941
Debtors 8 808,098 1,169,872
Cash at bank 1,698,603 2,852,757
2,690,630 4,210,570
CREDITORS
Amounts falling due within one year 9 611,687 855,892
NET CURRENT ASSETS 2,078,943 3,354,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,274,080

3,557,293

PROVISIONS FOR LIABILITIES 12 - 14,457
NET ASSETS 2,274,080 3,542,836

CAPITAL AND RESERVES
Called up share capital 13 600 1,000
Capital redemption reserve 400 -
Fair value reserve 14 18,000 18,000
Retained earnings 2,255,080 3,523,836
SHAREHOLDERS' FUNDS 2,274,080 3,542,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Link Microtek Limited (Registered number: 03046907)

Balance Sheet - continued
30 June 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





S G Cranstone - Director


Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Link Microtek Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the risks and rewards of ownership of goods have been transferred to the customer or where the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer. Where a service contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year

Goodwill
Goodwill, being the amount paid in connection with the acquisition of Azdec Limited in June 2011 is being amortised evenly over its useful economic life of 4 years, commencing 1 July 2011. See note 6 in the full financial statements.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the remaining life of the lease
Plant and machinery - 50% on cost, 33% on cost, 25% on cost and 20% on cost
Fixtures and fittings - 50% on cost, 33% on cost, 25% on cost and 20% on cost
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently
investment properties whose fair value can be measured reliably without undue cost or effort on an
on-going basis are measured at fair value. Gains and losses arising from changes in the fair value
of investment properties are included in profit or loss in the period in which they arise. These unrecognised gains and losses are held in the fair value reserve and deferred tax is provided at the rate expected to apply when the property is sold.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on
an on-going basis are included in plant, property and equipment at cost less accumulated
depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete or sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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. If an arrangement constitutes a finance transaction it is measured at present value.

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, adjusted for indexation where applicable.

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.

Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Research and development
Research expenditure is charged to the profit and loss account in the year incurred.

Development expenditure is charged to the profit and loss account in the year incurred unless it meets the FRS102 recognition criteria for capitalisation. When the recognition criteria have been met any further development expenditure is capitalised as an intangible asset. This asset is then amortised over its useful life.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 330,403
AMORTISATION
At 1 July 2023
and 30 June 2024 330,403
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 170,036 157,969 77,838 84,545 490,388
Additions - 21,914 6,330 - 28,244
At 30 June 2024 170,036 179,883 84,168 84,545 518,632
DEPRECIATION
At 1 July 2023 166,621 141,336 43,599 62,741 414,297
Charge for year 2,345 10,710 12,939 3,204 29,198
At 30 June 2024 168,966 152,046 56,538 65,945 443,495
NET BOOK VALUE
At 30 June 2024 1,070 27,837 27,630 18,600 75,137
At 30 June 2023 3,415 16,633 34,239 21,804 76,091

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 6,525
Impairments (6,524 )
At 30 June 2024 1
PROVISIONS
At 1 July 2023
and 30 June 2024 1
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 6,524

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 120,000
NET BOOK VALUE
At 30 June 2024 120,000
At 30 June 2023 120,000


Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 752,565 969,326
Other debtors 55,533 112,253
808,098 1,081,579

Amounts falling due after more than one year:
Other debtors - 88,293

Aggregate amounts 808,098 1,169,872

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 203,636 176,897
Taxation and social security 193,573 293,396
Other creditors 214,478 385,599
611,687 855,892

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 97,500 114,917
Between one and five years 81,250 178,750
178,750 293,667

11. SECURED DEBTS

The company has a fixed and floating charge over all of its undertaking and assets.

12. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax - 14,457

Deferred
tax
£   
Balance at 1 July 2023 14,457
Fixed asset timing differences (14,457 )
Balance at 30 June 2024 -

Link Microtek Limited (Registered number: 03046907)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
600 Ordinary £1 600 1,000
(30.6.23 -
1,000 )

During the year, 400 ordinary shares were redeemed for consideration of £1,190,000.

14. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 18,000