24 false false false false false false false false false false true false false false false false true No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 02513701 2023-07-01 2024-06-30 02513701 2024-06-30 02513701 2023-06-30 02513701 2023-03-30 2023-06-30 02513701 2023-06-30 02513701 2023-03-29 02513701 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 02513701 core:FurnitureFittings 2023-07-01 2024-06-30 02513701 core:MotorVehicles 2023-07-01 2024-06-30 02513701 core:NetGoodwill 2023-07-01 2024-06-30 02513701 bus:Director2 2023-07-01 2024-06-30 02513701 bus:Director3 2023-07-01 2024-06-30 02513701 core:NetGoodwill 2023-06-30 02513701 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 02513701 core:NetGoodwill 2024-06-30 02513701 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 02513701 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 02513701 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 02513701 core:FurnitureFittings 2023-06-30 02513701 core:MotorVehicles 2023-06-30 02513701 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 02513701 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 02513701 core:FurnitureFittings 2024-06-30 02513701 core:MotorVehicles 2024-06-30 02513701 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 02513701 core:WithinOneYear 2024-06-30 02513701 core:WithinOneYear 2023-06-30 02513701 core:AfterOneYear 2024-06-30 02513701 core:AfterOneYear 2023-06-30 02513701 core:UKTax 2023-07-01 2024-06-30 02513701 core:ShareCapital 2024-06-30 02513701 core:ShareCapital 2023-06-30 02513701 core:RetainedEarningsAccumulatedLosses 2024-06-30 02513701 core:RetainedEarningsAccumulatedLosses 2023-06-30 02513701 core:NetGoodwill 2023-06-30 02513701 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 02513701 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 02513701 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 02513701 core:FurnitureFittings 2023-06-30 02513701 bus:SmallEntities 2023-07-01 2024-06-30 02513701 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02513701 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02513701 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02513701 bus:FullAccounts 2023-07-01 2024-06-30 02513701 core:ComputerEquipment 2023-07-01 2024-06-30 02513701 core:ComputerEquipment 2023-06-30 02513701 core:ComputerEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 02513701
EUROLINK TECHNOLOGY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 June 2024
EUROLINK TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Intangible assets
6
1,682,098
1,226,238
Tangible assets
7
548,405
570,847
------------
------------
2,230,503
1,797,085
CURRENT ASSETS
Debtors
8
98,090
40,613
Cash at bank and in hand
760,304
638,841
---------
---------
858,394
679,454
CREDITORS: amounts falling due within one year
9
( 761,195)
( 436,438)
---------
---------
NET CURRENT ASSETS
97,199
243,016
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,327,702
2,040,101
CREDITORS: amounts falling due after more than one year
10
( 143,006)
( 162,366)
PROVISIONS
( 230,247)
( 230,247)
------------
------------
NET ASSETS
1,954,449
1,647,488
------------
------------
CAPITAL AND RESERVES
Called up share capital
4,002
4,002
Profit and loss account
1,950,447
1,643,486
------------
------------
SHAREHOLDERS FUNDS
1,954,449
1,647,488
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EUROLINK TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
P Chappell
R Murray
Director
Director
Company registration number: 02513701
EUROLINK TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Blenheim Court, Brook Way, Leatherhead, Surrey, KT22 7NA.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20 years
Development costs
-
10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently state at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
10% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 24 (2023: 24 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
Year to
30 Mar 23 to
30 Jun 24
30 Jun 23
£
£
Current tax:
UK current tax expense
91,421
Deferred tax:
Origination and reversal of timing differences
8,339
--------
-------
Tax on profit
91,421
8,339
--------
-------
6. INTANGIBLE ASSETS
Goodwill
Development costs
Total
£
£
£
Cost
At 1 July 2023
652,706
1,057,525
1,710,231
Additions
620,707
620,707
---------
------------
------------
At 30 June 2024
652,706
1,678,232
2,330,938
---------
------------
------------
Amortisation
At 1 July 2023
347,456
136,537
483,993
Charge for the year
27,750
137,097
164,847
---------
------------
------------
At 30 June 2024
375,206
273,634
648,840
---------
------------
------------
Carrying amount
At 30 June 2024
277,500
1,404,598
1,682,098
---------
------------
------------
At 30 June 2023
305,250
920,988
1,226,238
---------
------------
------------
7. TANGIBLE ASSETS
Investment property
Leasehold property improvements
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jul 2023
436,256
153,640
65,131
6,000
86,866
747,893
Additions
1,664
3,716
5,380
---------
---------
--------
-------
--------
---------
At 30 Jun 2024
436,256
153,640
66,795
6,000
90,582
753,273
---------
---------
--------
-------
--------
---------
Depreciation
At 1 Jul 2023
30,728
63,774
6,000
76,544
177,046
Charge for the year
15,364
5,115
7,343
27,822
Other movements
15,364
( 15,364)
---------
---------
--------
-------
--------
---------
At 30 Jun 2024
61,456
53,525
6,000
83,887
204,868
---------
---------
--------
-------
--------
---------
Carrying amount
At 30 Jun 2024
436,256
92,184
13,270
6,695
548,405
---------
---------
--------
-------
--------
---------
At 30 Jun 2023
436,256
122,912
1,357
10,322
570,847
---------
---------
--------
-------
--------
---------
8. DEBTORS
2024
2023
£
£
Trade debtors
53,306
Other debtors
44,784
40,613
--------
--------
98,090
40,613
--------
--------
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
32,031
27,781
Trade creditors
59,740
43,411
Corporation tax
162,920
Social security and other taxes
185,253
146,737
Other creditors
321,251
218,509
---------
---------
761,195
436,438
---------
---------
10. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
143,006
162,366
---------
---------