Link Groundworks Bicester Limited 08427118 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is construction and groundworks Digita Accounts Production Advanced 6.30.9574.0 true 08427118 2023-04-01 2024-03-31 08427118 2024-03-31 08427118 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 08427118 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 08427118 core:CurrentFinancialInstruments 2024-03-31 08427118 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08427118 core:Non-currentFinancialInstruments 2024-03-31 08427118 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08427118 core:MotorVehicles 2024-03-31 08427118 core:OfficeEquipment 2024-03-31 08427118 core:PlantMachinery 2024-03-31 08427118 bus:SmallEntities 2023-04-01 2024-03-31 08427118 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08427118 bus:FullAccounts 2023-04-01 2024-03-31 08427118 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08427118 bus:RegisteredOffice 2023-04-01 2024-03-31 08427118 bus:Director1 2023-04-01 2024-03-31 08427118 bus:Director3 2023-04-01 2024-03-31 08427118 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08427118 core:MotorVehicles 2023-04-01 2024-03-31 08427118 core:OfficeEquipment 2023-04-01 2024-03-31 08427118 core:PlantMachinery 2023-04-01 2024-03-31 08427118 countries:EnglandWales 2023-04-01 2024-03-31 08427118 2023-03-31 08427118 core:MotorVehicles 2023-03-31 08427118 core:OfficeEquipment 2023-03-31 08427118 core:PlantMachinery 2023-03-31 08427118 2022-04-01 2023-03-31 08427118 2023-03-31 08427118 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 08427118 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 08427118 core:CurrentFinancialInstruments 2023-03-31 08427118 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08427118 core:Non-currentFinancialInstruments 2023-03-31 08427118 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08427118 core:MotorVehicles 2023-03-31 08427118 core:OfficeEquipment 2023-03-31 08427118 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08427118

Link Groundworks Bicester Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Link Groundworks Bicester Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Link Groundworks Bicester Limited

Company Information

Directors

Mr L McKeran

Mrs J McKeran

Registered office

67 Windmill Avenue
Bicester
Oxfordshire
OX26 3DZ

Accountants

WoodWhite Accountants Ltd
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

 

Link Groundworks Bicester Limited

(Registration number: 08427118)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

373,380

379,303

Current assets

 

Stocks

5

503,075

342,344

Debtors

6

60,773

35,766

Cash at bank and in hand

 

505,953

392,718

 

1,069,801

770,828

Creditors: Amounts falling due within one year

7

(1,028,160)

(720,545)

Net current assets

 

41,641

50,283

Total assets less current liabilities

 

415,021

429,586

Creditors: Amounts falling due after more than one year

7

(137,757)

(150,792)

Provisions for liabilities

(66,775)

(60,855)

Net assets

 

210,489

217,939

Capital and reserves

 

Called up share capital

100

100

Retained earnings

210,389

217,839

Shareholders' funds

 

210,489

217,939

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Link Groundworks Bicester Limited

(Registration number: 08427118)
Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mr L McKeran
Director

 

Link Groundworks Bicester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
67 Windmill Avenue
Bicester
Oxfordshire
OX26 3DZ

These financial statements were authorised for issue by the Board on 2 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Link Groundworks Bicester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

20%/33.3% straight line

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Link Groundworks Bicester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 13).

 

Link Groundworks Bicester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

378,651

8,667

259,042

646,360

Additions

66,438

2,098

36,047

104,583

Disposals

-

-

(10,675)

(10,675)

At 31 March 2024

445,089

10,765

284,414

740,268

Depreciation

At 1 April 2023

161,804

7,616

97,637

267,057

Charge for the year

58,417

1,231

47,385

107,033

Eliminated on disposal

-

-

(7,202)

(7,202)

At 31 March 2024

220,221

8,847

137,820

366,888

Carrying amount

At 31 March 2024

224,868

1,918

146,594

373,380

At 31 March 2023

216,847

1,051

161,405

379,303

5

Stocks

2024
£

2023
£

Work in progress

503,075

342,344

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

60,000

19,153

Amounts owed by related parties

478

15,288

Other debtors

 

295

1,325

   

60,773

35,766

 

Link Groundworks Bicester Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

67,001

96,481

Trade creditors

 

716,818

475,604

Taxation and social security

 

185,009

120,633

Accruals and deferred income

 

34,885

2,885

Other creditors

 

24,447

24,942

 

1,028,160

720,545

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

137,757

150,792

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,091

23,274

Hire purchase contracts

124,666

127,518

137,757

150,792

2024
£

2023
£

Current loans and borrowings

Bank borrowings

11,019

9,930

Hire purchase contracts

55,982

86,551

67,001

96,481