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REGISTERED NUMBER: 01883753 (England and Wales)















COMPLETELINK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


COMPLETELINK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr. R.J. Hunter
Mr. D. Hunter



REGISTERED OFFICE: Prestwood Nursing Home
Prestwood House
Prestwood
Stourbridge
West Midlands
DY7 5AL



REGISTERED NUMBER: 01883753 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: Barclays Bank Plc
Queen Square
City Centre
Wolverhampton
West Midlands
WV1 1RF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COMPLETELINK LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Completelink Limited for the year ended 31 July 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Completelink Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Completelink Limited and state those matters that we have agreed to state to the Board of Directors of Completelink Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Completelink Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Completelink Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Completelink Limited. You consider that Completelink Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Completelink Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


11 December 2024

COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,029,821 4,095,642
Investments 5 100 100
4,029,921 4,095,742

CURRENT ASSETS
Debtors 6 304,497 302,625
Cash at bank and in hand 29,954 1,403
334,451 304,028
CREDITORS
Amounts falling due within one year 7 860,868 742,689
NET CURRENT LIABILITIES (526,417 ) (438,661 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,503,504

3,657,081

CREDITORS
Amounts falling due after more than one year 8 (415,691 ) (657,028 )

PROVISIONS FOR LIABILITIES (327,248 ) (340,406 )
NET ASSETS 2,760,565 2,659,647

CAPITAL AND RESERVES
Called up share capital 25,050 25,050
Revaluation reserve 10 900,514 922,391
Capital redemption reserve 24,950 24,950
Retained earnings 1,810,051 1,687,256
SHAREHOLDERS' FUNDS 2,760,565 2,659,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 11 December 2024 and were signed on its behalf by:





Mr. R.J. Hunter - Director


COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Completelink 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 net sales of goods and services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost on buildings
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 8% on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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 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.

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.

COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 115 (2023 - 120 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 5,224,144 19,483 1,037,575 23,211 6,304,413
Additions 12,138 - 47,601 13,700 73,439
Disposals - - - (3,650 ) (3,650 )
At 31 July 2024 5,236,282 19,483 1,085,176 33,261 6,374,202
DEPRECIATION
At 1 August 2023 1,511,506 12,739 671,960 12,566 2,208,771
Charge for year 81,295 675 53,696 3,594 139,260
Eliminated on disposal - - - (3,650 ) (3,650 )
At 31 July 2024 1,592,801 13,414 725,656 12,510 2,344,381
NET BOOK VALUE
At 31 July 2024 3,643,481 6,069 359,520 20,751 4,029,821
At 31 July 2023 3,712,638 6,744 365,615 10,645 4,095,642

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1990 1,640,769 - - - 1,640,769
Cost 3,595,513 19,483 1,085,176 33,261 4,733,433
5,236,282 19,483 1,085,176 33,261 6,374,202

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 3,595,513 3,523,623
Aggregate depreciation 852,546 558,543

Value of land in freehold land and buildings 612,571 612,571

COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS - continued

The freehold land and buildings were valued in 1990 on an open market basis.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 100
NET BOOK VALUE
At 31 July 2024 100
At 31 July 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 170,568 175,413
Amounts owed by group undertakings 57,500 55,000
Other debtors 76,429 72,212
304,497 302,625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 132,934 234,463
Trade creditors 107,889 130,593
Taxation and social security 80,300 38,249
Other creditors 539,745 339,384
860,868 742,689

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 415,691 657,028

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 22,527 100,287

COMPLETELINK LIMITED (REGISTERED NUMBER: 01883753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 548,625 868,226

The bank loan is secured by fixed and floating charges over the Coach House, Cobden Street, Wollaston, DY8 3RU, Prestwood Coach House, Wolverhampton Road, Prestwood, DY7 5AL and The Homestead, Wolverhampton Road, Prestwood, DY7 5AN.

10. RESERVES
Revaluation
reserve
£   
At 1 August 2023 922,391
Released during the year (21,877 )

At 31 July 2024 900,514

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr. R.J. Hunter
Balance outstanding at start of year 439 -
Amounts advanced - 439
Amounts repaid (439 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 439

12. RELATED PARTY DISCLOSURES

Mr. R.J. Hunter, a director of the company, is also a director of Oval Maintenance Services Limited. During the year, the company incurred expenditure on behalf of Oval Maintenance Services Limited which was recharged at cost to that company.

At the statement of financial position date, the company was owed the sum of £16,196 (2023 - £34,903) by Oval Maintenance Services Limited.

At the statement of financial position date, the company was owed the sum of £57,500 (2023 - £55,000) by Bajora Limited, a company who has majority shares in Completelink Ltd.