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Registration number: 08067623

Linpic Software Systems Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Linpic Software Systems Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

 

Linpic Software Systems Ltd

Company Information

Directors

Mr Graham Peter Veitch

Paul Veitch

Registered office

Glebe Farm Lutterworth Road
Blaby
Leicester
LE8 4BW

Accountants

M Ball & Co Limited
The Hemington
Millhouse Business Centre
Station Road
Castle Donington
Derby
DE74 2NJ

 

Linpic Software Systems Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Graham Peter Veitch

Paul Veitch

Principal activity

The principal activity of the company is Business and domestic software development

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 4 August 2025 and signed on its behalf by:
 

.........................................
Mr Graham Peter Veitch
Director

.........................................
Paul Veitch
Director

 

Linpic Software Systems Ltd

(Registration number: 08067623)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

6,065

Current assets

 

Debtors

5

238,932

167,919

Cash at bank and in hand

 

5,153

8,140

 

244,085

176,059

Creditors: Amounts falling due within one year

6

(126,049)

(91,223)

Net current assets

 

118,036

84,836

Net assets

 

118,036

90,901

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

117,036

89,901

Shareholders' funds

 

118,036

90,901

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Linpic Software Systems Ltd

(Registration number: 08067623)
Balance Sheet as at 31 December 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 August 2025 and signed on its behalf by:
 

.........................................
Mr Graham Peter Veitch
Director

.........................................
Paul Veitch
Director

 

Linpic Software Systems Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Glebe Farm Lutterworth Road
Blaby
Leicester
LE8 4BW
England

These financial statements were authorised for issue by the Board on 4 August 2025.

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.

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 current 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.

The current income 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.

 

Linpic Software Systems Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Linpic Software Systems Ltd

Notes to the Financial Statements for the Year Ended 31 December 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

70,916

70,916

Disposals

(70,916)

(70,916)

At 31 December 2024

-

-

Depreciation

At 1 January 2024

64,851

64,851

Eliminated on disposal

(64,851)

(64,851)

At 31 December 2024

-

-

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

6,065

6,065

5

Debtors

Current

2024
£

2023
£

Trade debtors

 

15,074

95,501

Amounts owed by related parties

210,688

59,248

Other debtors

 

13,170

13,170

   

238,932

167,919

 

Linpic Software Systems Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,284

5,878

Taxation and social security

52,582

35,518

Accruals and deferred income

47,950

49,355

Other creditors

12,233

472

126,049

91,223