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REGISTERED NUMBER: 02461502 (England and Wales)













Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended 30 June 2024

for

LINK CONTRACTING SERVICES LIMITED

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


LINK CONTRACTING SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







Directors: Mrs N J Stevenson
Mr B J Thompson
Mr P A Wright
Mr D Roberts





Registered office: 3 Worthington Business Park
Worthington Way
Wigan
Lancashire
WN3 6XJ





Registered number: 02461502 (England and Wales)





Auditors: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Strategic Report
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report for the year ended 30 June 2024.

Review of business
During the year, the principal activities of Link Contracting Services Limited remained the same; delivering reactive, planned, and compliance works in relation to fabric, building, mechanical and electrical services. The company provides full 24 hour reactive, planned and compliance services to the Commercial, Leisure, Educational and Retail sectors throughout the United Kingdom.

The company's service delivery and project teams continued to provide a class leading service to individual client sectors, ensuring the successful renewal of key contracts and continued successful delivery of embedded contracts. In addition, we further developed our Compliance offering which will cement our nationwide coverage, ensuring clients achieve all their safety obligations.

The operational department continues to be innovative in developing the bespoke CAFM system with a drive to improve efficiency, processes, and procedures.

The Senior Leadership Team, together with the management, continue to develop people, encouraging promotion from within while onboarding key experienced employees that strengthen the team.

The Directors consider the key performance indicators to be turnover and gross profit.


2024 2023 2022
Turnover £19,727,151 £18,492,662 £18,685,477
Gross profit £7,199,578 £6,874,773 £6,606,502
Gross profit % 36.5% 37.2% 35.4%

Other Key performance indicators considered.

- An industry leading first time fix rate of over 90%
- Over 70,000 work orders delivered in 2024.
- Industry leading health and safety records and maintaining RoSPA Gold for the 6th Year.
- Awarded RoSPA Gold for Fleet Safety for the 4th Year running.
- Maintained all ISO9001, ISO14001, ISO45001 audit standards with zero non-compliance issues
- Core Values maintained - 100% Safe, Right First Time, Complete on Time, Develop our People and Community Focused
- Client Retention and Satisfaction measured at over 95%
- Average vehicle fleet age of 1.5 years


The company's strategic growth plan remains strong, working with key selected clients and sectors being reflected in the repeat business we receive.

The company continues to remain successful despite the ongoing challenges presented by the current macroeconomic landscape. The business has worked hard at retaining and satisfying its existing customers whilst developing a more diverse client base and adding additional financial security and stability.

Recruitment and retaining staff remains challenging industry wide.
The company has implemented salary bandings and targets, allowing employees to have continuing goals to work towards, proving successful and rewarding. Our annual employee survey provides actionable insights which enable the leadership team to deliver impactful change.

Our core values of 100% Safe, Right First Time, Completed on Time, Develop its People and Community Focused have been more important than ever this year and once again the business has been awarded RoSPA Gold for Safety and RoSPA Gold for Fleet Safety.

Principal risks and uncertainties
The company continues to have no bank borrowing whatsoever and continues to manage its cash flow successfully. The business enjoys customers who generally pay on time and regular credit checks are carried out.

Its IT systems continue to drive efficiencies within the business and with full visibility on costs the business is able to limit its risk from an early stage if contracts look to be exceeding budgets.

The company continues to review its policies, procedures, workforce, and ways of working to ensure that it remains competitive within the industry. Full tender reviews, post contract reviews, data analysis and supplier reviews are completed to ensure continued profitability and to minimise financial risk to the business.


LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Strategic Report
FOR THE YEAR ENDED 30 JUNE 2024

Community projects
The business has continued with its commitment to social responsibility, having successfully delivered numerous community projects throughout the UK, sponsoring local teams in our areas of work, and fundraising for Derian House Children's Hospice and other local charities. We also partner on customer academy projects, providing mentoring programs which address social mobility, develop key employability skills and prepare children for the world of work. Our employees donated over 1,100 hours of their time to local charities and volunteering sessions, and we have raised over £37,000 for charity.

On behalf of the board:





Mr B J Thompson - Director


13 February 2025

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Report of the Directors
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

Principal activities
The principal activities of the company in the year under review were those of building maintenance, refurbishment, design and construction contracting within the commercial, industrial and educational sectors.

Dividends
The total distribution of dividends for the year ended 30 June 2024 will be £727,819.

Directors
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mrs N J Stevenson
Mr B J Thompson
Mr P A Wright

Other changes in directors holding office are as follows:

Mr D Roberts - appointed 2 November 2023

Disclosure in the strategic report
The disclosures in respect of the business review, future developments and the financial risk management, objectives and policies are included in the Strategic Report.The principal activities of the company are also disclosed in the Strategic Report.

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Report of the Directors
FOR THE YEAR ENDED 30 JUNE 2024


Auditors
The auditors, NRB, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr B J Thompson - Director


13 February 2025

Report of the Independent Auditors to the Members of
Link Contracting Services Limited

Opinion
We have audited the financial statements of Link Contracting Services Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Link Contracting Services Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Consideration was given to the entity's susceptibility to material misstatement at all times during the audit including consideration of how fraud could occur. This involved consideration of the nature of the entity's activities and transactions with the potential identification of fraud

- Identification of key laws and regulations considered central to the entity, including a review of any policies and procedures in place to ensure compliance. Key laws and regulations identified include the UK Companies Act, tax legislation and health and safety regulations

- Ensured that the engagement team had the necessary competence and capabilities to identify any examples of non-compliance at all stages

- Audit work was completed in all relevant areas that were deemed to be appropriate for the client and the associated risks in respect of potential misstatements, including fraud. Our audit work was designed to assess these risks in all areas and included enquiry of management, testing the appropriateness of journal entries, reviewing financial statement disclosures and tracing to relevant documentation as well as the consideration of the risk of potential management override

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Neil Whittingham BSc FCA ATT (Senior Statutory Auditor)
for and on behalf of NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

13 February 2025

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Statement of Income and
Retained Earnings
FOR THE YEAR ENDED 30 JUNE 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 4 19,727,151 18,492,662

Cost of sales 12,527,573 11,617,889
GROSS PROFIT 7,199,578 6,874,773

Administrative expenses 5,744,163 5,171,550
1,455,415 1,703,223

Other operating income 27,047 1,550
1,482,462 1,704,773

Interest receivable and similar income 106,802 63,857
1,589,264 1,768,630

Interest payable and similar expenses 7 36,691 17,562
PROFIT BEFORE TAXATION 8 1,552,573 1,751,068

Tax on profit 9 445,194 365,858
PROFIT FOR THE FINANCIAL YEAR 1,107,379 1,385,210

Retained earnings at beginning of year 7,899,171 7,229,183

Dividends 10 (727,819 ) (715,222 )

RETAINED EARNINGS AT END OF YEAR 8,278,731 7,899,171

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Balance Sheet
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 3,176,340 2,065,403

CURRENT ASSETS
Stocks 12 21,228 25,550
Debtors 13 7,869,983 7,286,957
Cash at bank and in hand 2,062,419 2,086,585
9,953,630 9,399,092
CREDITORS
Amounts falling due within one year 14 3,491,908 3,000,378
NET CURRENT ASSETS 6,461,722 6,398,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,638,062

8,464,117

CREDITORS
Amounts falling due after more than one
year

15

(670,036

)

(161,116

)

PROVISIONS FOR LIABILITIES 17 (679,264 ) (393,799 )
NET ASSETS 8,288,762 7,909,202

CAPITAL AND RESERVES
Called up share capital 18 10,000 10,000
Capital redemption reserve 31 31
Retained earnings 8,278,731 7,899,171
SHAREHOLDERS' FUNDS 8,288,762 7,909,202

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Balance Sheet - continued
30 JUNE 2024



The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





Mr B J Thompson - Director


LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Cash Flow Statement
FOR THE YEAR ENDED 30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,244,620 2,399,940
Interest paid (1,357 ) -
Interest element of hire purchase payments
paid

(35,334

)

(17,562

)
Tax paid (450,811 ) 40,730
Net cash from operating activities 757,118 2,423,108

Cash flows from investing activities
Purchase of tangible fixed assets (2,047,277 ) (372,321 )
Sale of tangible fixed assets 327,630 359,645
Interest received 106,802 63,857
Net cash from investing activities (1,612,845 ) 51,181

Cash flows from financing activities
Capital repayments in year 891,922 (286,055 )
Amount withdrawn by directors (910,361 ) (727,818 )
Loan to associated company (150,000 ) (784,735 )
Reduction in loan to associated company 1,000,000 -
Net cash from financing activities 831,561 (1,798,608 )

(Decrease)/increase in cash and cash equivalents (24,166 ) 675,681
Cash and cash equivalents at beginning
of year

2

2,086,585

1,410,904

Cash and cash equivalents at end of year 2 2,062,419 2,086,585

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.6.24 30.6.23
£    £   
Profit before taxation 1,552,573 1,751,068
Depreciation charges 626,672 443,879
Profit on disposal of fixed assets (17,959 ) (72,338 )
Finance costs 36,691 17,562
Finance income (106,802 ) (63,857 )
2,091,175 2,076,314
Decrease in stocks 4,322 4,562
Increase in trade and other debtors (1,250,484 ) (177,782 )
Increase in trade and other creditors 399,607 496,846
Cash generated from operations 1,244,620 2,399,940

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 2,062,419 2,086,585
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 2,086,585 1,410,904


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 2,086,585 (24,166 ) 2,062,419
2,086,585 (24,166 ) 2,062,419
Debt
Finance leases (283,242 ) (891,922 ) (1,175,164 )
(283,242 ) (891,922 ) (1,175,164 )
Total 1,803,343 (916,088 ) 887,255

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Link Contracting Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going Concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continue to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions. As set out in the turnover accounting policy below, the recognition of revenue for ongoing services at the year-end is calculated by reference to the expected profit for the transaction.Whilst revenue is only included when a reliable estimate of the outcome of the transaction is available, the judgement of the directors is required when calculating the figures.

Turnover
Turnover relates to the rendering of services and is measured at the fair value of consideration received or receivable, net of discounts and value added taxes.

Revenue is recognised when a sales invoice is issued. In addition, at the end of the reporting period, revenue is recognised in respect of services which have been completed but not invoiced. This revenue is included at the value of the sales invoice raised after the reporting report in respect of the completed work

Revenue is also recognised when services are ongoing at the end of the reporting period and the outcome of the transaction can be reliably estimated, In such cases, the amount of revenue recognised is calculated by assessing the total expected profit for each transaction and adding an appropriate amount onto the unbilled costs incurred up to the balance sheet date. If the ongoing service relates to a transaction subject to a fixed mark-up percentage, revenue is recognised by adding the mark-up percentage onto unbilled costs incurred up to the balance sheet date.

All unbilled revenue which has been recognised as revenue in the reporting report is included within debtors as accrued income.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows :

Leasehold improvements- 20 years on a straight line basis
Plant and machinery- 20% on reducing balance
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is calculated by reference to the most recent purchase price.


LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight lines basis over the period of the lease.

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.

Impairment
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect if discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter sated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

4. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

The directors consider that the turnover of the company now relates to only one class of business, being the rendering of services, and that no analysis of turnover is appropriate,

The company's turnover arises entirely in the United Kingdom.

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 6,367,389 5,716,716
Social security costs 687,390 607,807
Other pension costs 316,006 233,599
7,370,785 6,558,122

The average number of employees during the year was as follows:
30.6.24 30.6.23

Office and management 71 61
Operational 98 103
169 164

6. DIRECTORS' EMOLUMENTS

The total directors remuneration for the year ended 30 June 2024 was £380,038 (2023 : £236,477). The highest paid director received emoluments of £151,199 (2023 : £146,380).

The number of directors to who retirement benefits were accruing in money purchase schemes in the year ended 30 June 2024 was 4 (2023 : 3). Pension contributions of £179,252 (2022 : £112,118) were paid on behalf of the directors.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
HMRC Interest 1,357 -
Hire purchase 35,334 17,562
36,691 17,562

8. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

30.6.24 30.6.23
£    £   
Depreciation - owned assets 495,479 285,068
Depreciation - assets on hire purchase contracts 131,190 158,813
Profit on disposal of fixed assets (17,959 ) (72,338 )
Auditors' remuneration 15,146 14,540

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 159,729 350,809

Deferred tax:
Current year 285,465 15,049
Tax on profit 445,194 365,858

UK corporation tax was charged at 20.50%) in 2023.

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
£    £   
Profit before tax 1,552,573 1,751,068
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

388,143

358,969

Effects of:
Expenses not deductible for tax purposes 23,959 6,324
Capital allowances in excess of depreciation (252,373 ) (14,484 )
Deferred tax charge for the year 285,465 15,049
Total tax charge 445,194 365,858

10. DIVIDENDS
30.6.24 30.6.23
£    £   
Interim 727,819 715,222

11. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 735,792 208,722 176,447 2,767,346 3,888,307
Additions 10,552 1,260 8,527 2,026,938 2,047,277
Disposals - (30,773 ) - (764,116 ) (794,889 )
At 30 June 2024 746,344 179,209 184,974 4,030,168 5,140,695
DEPRECIATION
At 1 July 2023 185,599 177,574 130,885 1,328,846 1,822,904
Charge for year 36,391 6,301 10,491 573,486 626,669
Eliminated on disposal - (19,924 ) - (465,294 ) (485,218 )
At 30 June 2024 221,990 163,951 141,376 1,437,038 1,964,355
NET BOOK VALUE
At 30 June 2024 524,354 15,258 43,598 2,593,130 3,176,340
At 30 June 2023 550,193 31,148 45,562 1,438,500 2,065,403

Fixed assets include items held under finance leases or hire purchase contracts. The net book value of these at the year-end was £1,300,463 (2023 : £675,612) and the depreciation charge on the assets for the year was £266,373 (2023 : £158,813).

12. STOCKS
30.6.24 30.6.23
£    £   
Stocks 21,228 25,550

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,481,000 2,148,445
Amounts owed by associated company 293,623 1,143,623
Other debtors 115,868 28,623
Directors' current accounts 910,360 727,818
Accrued income 4,069,132 3,238,448
7,869,983 7,286,957

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 16) 505,128 122,126
Trade creditors 1,439,142 916,203
Tax 59,730 350,809
Social security and other taxes 153,594 150,112
VAT 397,490 544,603
Other creditors 936,824 916,525
3,491,908 3,000,378

Hire purchase liabilities are secured against the assets to which they relate.

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 16) 670,036 161,116

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 505,128 122,126
Between one and five years 670,036 161,116
1,175,164 283,242

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 67,063 137,450
Between one and five years - 67,063
67,063 204,513

17. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 679,264 393,799

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

17. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 393,799
Provided during year 285,465
Balance at 30 June 2024 679,264

The deferred tax provision relates entirely to accelerated capital allowances.

Deferred tax has been provided for on the basis of the corporation tax rate being 25% as this is the rate expected to apply to the reversal of the timing differences.

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
10,000 Ordinary shares £1 10,000 10,000

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mr B J Thompson
Balance outstanding at start of year 439,409 436,887
Amounts advanced 563,362 439,411
Amounts repaid (439,412 ) (436,889 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 563,359 439,409

Mrs N J Stevenson
Balance outstanding at start of year 288,407 278,332
Amounts advanced 356,864 288,407
Amounts repaid (298,270 ) (278,332 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 347,001 288,407

Interest has been charged and the loans are unsecured.

The directors intend to repay the overdrawn amounts to the company within nine months of the balance sheet date.

20. RELATED PARTY DISCLOSURES

Transactions with related parties in the year were as follows :
2024 2023
£ £
Sales invoiced to associated companies 1,398 709,867
Purchases from associated companies 138,818 112,602
Interest charged to associated companies - 13,657
Amounts owed by associated companies (included in trade debtors) 851,795 881,339
Amounts owed to associated companies (included in trade creditors) 20,509 9,227
Loan to associated companies 293,623 1,143,623
Rent payments to pension scheme 100,000 100,000
Amounts owed by a director (included in trade debtors) - 125,245
Sales invoiced to a director - 113,320

LINK CONTRACTING SERVICES LIMITED (REGISTERED NUMBER: 02461502)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

During the year, a total of key management personnel compensation of £ 380,038 (2023 - £ 236,477 ) was paid.

21. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr B Thompson by way of the shares held by himself and by his immediate family.