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Registration number: 5419255

Links Plant & Equipment Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Links Plant & Equipment Limited

(Registration number: 5419255)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

10,000

16,000

Tangible assets

5

1,121,041

831,262

 

1,131,041

847,262

Current assets

 

Stocks

86,822

85,372

Debtors

6

133,045

129,529

Cash at bank and in hand

 

13,317

11,559

 

233,184

226,460

Creditors: Amounts falling due within one year

7

(426,391)

(413,801)

Net current liabilities

 

(193,207)

(187,341)

Total assets less current liabilities

 

937,834

659,921

Creditors: Amounts falling due after more than one year

7

(709,847)

(669,154)

Net assets/(liabilities)

 

227,987

(9,233)

Capital and reserves

 

Called up share capital

9

100,100

100,100

Revaluation reserve

635,583

363,544

Retained earnings

(507,696)

(472,877)

Shareholders' funds/(deficit)

 

227,987

(9,233)

 

Links Plant & Equipment Limited

(Registration number: 5419255)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 January 2025
 


Mr S James
Director

   
 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Greengrass Farm
West Marsh Lane
Barrow Haven
Barrow upon Humber
North Lincolnshire
DN19 7EZ

Registered number: 5419255

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.

Going concern

The financial statements have been prepared on a going concern basis. The director will continue to support the company and on that basis they consider it appropriate to adopt the going concern basis in preparing these accounts.

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 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.

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current 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.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Deferred tax is provided for any capital gains expected to arise as a result of a future sale of revalued assets.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or valuation, 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.

The revaluation method has been applied to the tangible asset classes of land and plant and machinery. The basis of the valuation was market value.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% per annum on written down value

Plant and machinery

10% per annum on written down value

Buildings

4% per annum on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life.

At the transition to FRS 102 date there was less than ten years remaining and so goodwill continues to be amortised at the same rate as follows:

Asset class

Amortisation method and rate

Goodwill

over 20 years

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised at the transaction price, less provision for impairment. 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

The business utilises an invoice financing facility. Financial assets and liabilities arising from a sale
are recorded at the transaction price.

Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at their fair value at inception of the lease. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 the director) during the year was 4 (2023 - 4).

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

120,000

120,000

At 30 April 2024

120,000

120,000

Amortisation

At 1 May 2023

104,000

104,000

Amortisation charge

6,000

6,000

At 30 April 2024

110,000

110,000

Carrying amount

At 30 April 2024

10,000

10,000

At 30 April 2023

16,000

16,000

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 May 2023

247,738

24,950

741,857

1,014,545

Revaluations

297,595

-

-

297,595

Additions

-

-

84,500

84,500

Disposals

-

-

(31,000)

(31,000)

At 30 April 2024

545,333

24,950

795,357

1,365,640

Depreciation

At 1 May 2023

26,223

21,415

135,645

183,283

Charge for the year

4,110

530

64,361

69,001

Eliminated on disposal

-

-

(7,685)

(7,685)

At 30 April 2024

30,333

21,945

192,321

244,599

Carrying amount

At 30 April 2024

515,000

3,005

603,036

1,121,041

At 30 April 2023

221,515

3,535

606,212

831,262

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Revaluation

The fair value of the company's land and plant and machinery was revalued on 30 April 2024 by the director. An independent valuer was not involved. In prior years, only the land had been subject to revaluation. Had these classes of assets been measured on a historical cost basis, the carrying amount would have been £456,802 (2023 - £441,009).

6

Debtors

2024
£

2023
£

Trade debtors

114,870

123,616

Other debtors

18,175

5,913

 

133,045

129,529

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

250,502

199,619

Trade creditors

 

63,234

72,110

Amounts due to related parties

30,724

35,398

Social security and other taxes

 

72,900

90,141

Other creditors

 

9,031

16,533

 

426,391

413,801

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

709,847

669,154

 

Links Plant & Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

49,999

17,223

HP and finance lease liabilities

93,874

96,841

Other borrowings

106,629

85,555

250,502

199,619

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

364,541

95,984

HP and finance lease liabilites

156,786

73,072

Other borrowings

188,520

500,098

709,847

669,154

The bank borrowings and overdraft are secured against the assets of the company.

The obligations under finance lease and hire purchase are secured upon the assets to which they relate.

Included within other borrowings are amounts relating to the invoice finance creditor which is secured upon the book debts of the company.

Included in bank and other borrowings in £164,857 (2023 - £13,171) due after five years by instalment.

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100,100

100,100

100,100

100,100