REGISTERED NUMBER: |
DIRECTLINC LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 JANUARY 2023 TO 3 FEBRUARY 2024 |
REGISTERED NUMBER: |
DIRECTLINC LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 JANUARY 2023 TO 3 FEBRUARY 2024 |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 5 | to | 6 |
DIRECTLINC LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincolnshire |
PE11 3YR |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
The directors present their report with the financial statements of the company for the period 29 January 2023 to 3 February 2024. |
PRINCIPAL ACTIVITY |
The company did not trade in the current financial year or preceding financial year. There has been no income or expenditure and no change has arisen in the position of the company. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 29 January 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
INCOME STATEMENT |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
Period | Period |
29.1.23 | 30.1.22 |
to | to |
3.2.24 | 28.1.23 |
Notes | £ | £ |
TURNOVER |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit | 4 |
PROFIT FOR THE FINANCIAL PERIOD |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
STATEMENT OF FINANCIAL POSITION |
3 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Directlinc Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
The company has chosen to adopt the FRS 102A in respect of financial instruments. |
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
4. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the period ended 3 February 2024 nor for the period ended 28 January 2023. |
DIRECTLINC LIMITED (REGISTERED NUMBER: 00499479) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 JANUARY 2023 TO 3 FEBRUARY 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by participating interests | 650,186 | 650,186 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 650,186 | 650,186 |
7. | CONTINGENT LIABILITIES |
On 16 March 1998 the company granted an unlimited guarantee over the borrowings of Keepstem Limited, secured by a mortgage debenture over the assets of the company. |
There is an unlimited multilateral guarantee given by Freshlinc Group Limited, Freshlinc Limited, Keepstem Limited and Lincolnshire Field Products Limited to HSBC Bank. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking of the company is Fidelis Holdings Limited. |
Fidelis Holdings Limited is the company's controlling related party by virtue of its 100% shareholding in FreshLinc Group Limited The Board of Directors of Fidelis Holdings Limited are considered to be the company's ultimate controlling related party by virtue of their directorships of and shareholdings in Fidelis Holdings Limited, the ultimate parent undertaking. |