Company registration number 05584586 (England and Wales)
LINKHALL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
LINKHALL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investment property
3
1,855,000
1,855,000
Current assets
Debtors
4
174,458
113,582
Creditors: amounts falling due within one year
5
(5,292)
(26,227)
Net current assets
169,166
87,355
Total assets less current liabilities
2,024,166
1,942,355
Creditors: amounts falling due after more than one year
6
(877,107)
(877,107)
Provisions for liabilities
(165,215)
(125,564)
Net assets
981,844
939,684
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
807,641
847,293
Profit and loss reserves
174,103
92,291
Total equity
981,844
939,684
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LINKHALL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
Mr L Bellman
Director
Company registration number 05584586 (England and Wales)
LINKHALL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
As restated for the period ended 31 March 2023:
Balance at 1 October 2022
100
431,609
485,867
917,576
Period ended 31 March 2023:
Loss
-
-
(394,568)
(394,568)
Other comprehensive income:
Gains reclassified to profit or loss
-
416,676
-
416,676
Total comprehensive income
-
416,676
(394,568)
22,108
Transfers
-
992
992
Other movements
-
(992)
-
(992)
Balance at 31 March 2023
100
847,293
92,291
939,684
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
42,160
42,160
Transfers
-
39,652
39,652
Other movements
-
(39,652)
-
(39,652)
Balance at 31 March 2024
100
807,641
174,103
981,844
LINKHALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Linkhall Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Sobell Rhodes LLP, Kinetic Business Centre, Theobald Street, Elstree, Hertfordshire, United Kingdom, WD6 4PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of rental income that the company is entitled to receive.
Where payments are received from tenants in advance of the due date, the amounts are recorded as deferred Income and included as part of Creditors due within one year.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LINKHALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,855,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
171,101
108,568
Prepayments and accrued income
3,357
5,014
174,458
113,582
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
12,954
Other creditors
5,292
13,273
5,292
26,227
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
877,107
877,107
LINKHALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Parent and ultimate parent undertaking
The company's Ultimate parent is Floball Group Limited, a company incorporated in England and Wales.
9
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Mar 2023
£
£
£
Provisions for liabilities
Deferred tax
(124,572)
(992)
(125,564)
Capital and reserves
Revaluation reserve
431,609
415,684
847,293
Profit and loss reserves
508,967
(416,676)
92,291
Total equity
940,676
(992)
939,684
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 March 2023
£
£
£
Amounts written off investments
-
(416,676)
(416,676)
Taxation
(2,250)
(992)
(3,242)
Profit/(loss) for the financial period
23,100
(417,668)
(394,568)
LINKHALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Prior period adjustment
(Continued)
- 7 -
Reconciliation of changes in equity
1 October
31 March
2022
2023
£
£
Adjustments to prior year
Deferred Tax accounted for in Fixed assets
-
(992)
Equity as previously reported
917,576
940,676
Equity as adjusted
917,576
939,684
Analysis of the effect upon equity
Revaluation reserve
-
415,684
Profit and loss reserves
-
(416,676)
-
(992)
Reconciliation of changes in profit/(loss) for the previous financial period
2023
£
Adjustments to prior year
Deferred Tax accounted for in Fixed assets
(417,668)
Profit as previously reported
23,100
Loss as adjusted
(394,568)