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REGISTERED NUMBER: SC680718 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

LINKS COSMETIC LIMITED

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LINKS COSMETIC LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M J Skimming
Ms L Wilson





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC680718 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 412,826 619,239
Tangible assets 5 60,571 82,090
473,397 701,329

CURRENT ASSETS
Debtors 6 31,276 93,559
Cash at bank and in hand 236,989 112,649
268,265 206,208
CREDITORS
Amounts falling due within one year 7 760,812 832,641
NET CURRENT LIABILITIES (492,547 ) (626,433 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,150

)

74,896

CREDITORS
Amounts falling due after more than one
year

8

(7,115

)

(57,787

)

PROVISIONS FOR LIABILITIES (15,143 ) (14,395 )
NET (LIABILITIES)/ASSETS (41,408 ) 2,714

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (41,418 ) 2,704
(41,408 ) 2,714

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

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

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Balance Sheet - continued
31 MAY 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 6 December 2024 and were signed on its behalf by:





M J Skimming - Director


LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Links Cosmetic Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on a straight line basis
Plant and machinery - 20% on a straight line basis
Computer equipment - 25% on a straight line basis

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 balance sheet date.


LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 1,032,065
AMORTISATION
At 1 June 2023 412,826
Charge for year 206,413
At 31 May 2024 619,239
NET BOOK VALUE
At 31 May 2024 412,826
At 31 May 2023 619,239

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2023 7,365 103,523 7,892 118,780
Additions - 2,862 - 2,862
At 31 May 2024 7,365 106,385 7,892 121,642
DEPRECIATION
At 1 June 2023 1,040 33,611 2,039 36,690
Charge for year 1,473 20,935 1,973 24,381
At 31 May 2024 2,513 54,546 4,012 61,071
NET BOOK VALUE
At 31 May 2024 4,852 51,839 3,880 60,571
At 31 May 2023 6,325 69,912 5,853 82,090

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 30,536 90,536
Other debtors 740 3,023
31,276 93,559

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,768 4,302
Hire purchase contracts 5,671 5,671
Trade creditors 21,380 18,442
Amounts owed to associates 346,228 374,086
Taxation and social security 63,787 52,373
Other creditors 318,978 377,767
760,812 832,641

LINKS COSMETIC LIMITED (REGISTERED NUMBER: SC680718)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,115 12,787
Other creditors - 45,000
7,115 57,787