| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Linton Park Services Limited |
| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Linton Park Services Limited |
| Linton Park Services Limited (Registered number: 07450015) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 5 |
| Income Statement | 8 |
| Statement of Comprehensive Income | 9 |
| Statement of Financial Position | 10 |
| Statement of Changes in Equity | 11 |
| Statement of Cash Flows | 12 |
| Notes to the Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 |
| Linton Park Services Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| INDEPENDENT AUDITORS: |
| 1 New Street Square |
| London |
| EC4A 3HQ |
| Linton Park Services Limited (Registered number: 07450015) |
| Strategic Report |
| for the Year Ended 31 December 2024 |
| The directors present their strategic report for the year ended 31 December 2024. |
| REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS |
| The Company is a service company providing employment services to certain group companies and is expected to do so in the future. The results for the year and the financial position of the Company are as shown in the annexed financial statements. Given the nature of the Company’s activities, the directors do not consider the use of key performance indicators to be necessary for an understanding of its development, performance, or position. A summary of the Company’s financial performance is provided in the Results section of the Report of the Directors, which should be read in conjunction with this Strategic Report. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The Company is a subsidiary company within the Camellia Plc group and as such the principal risks and uncertainties, key performance indicators, strategy and business model are in line with those of the Group as a whole. Details of the principal risks and uncertainties, strategy and business model of Camellia Plc group can be found in Camellia Plc's Annual Report and Accounts. |
| ON BEHALF OF THE BOARD: |
| Linton Park Services Limited (Registered number: 07450015) |
| Report of the Directors |
| for the Year Ended 31 December 2024 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
| PRINCIPAL ACTIVITY |
| The Company is a services company. |
| RESULTS |
| The profit before tax amounted to profit £4,238 (prior year: profit £4,033) |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 December 2024. |
| FUTURE DEVELOPMENTS |
| A statement on future developments has been included in the Strategic Report. |
| EVENTS SINCE THE END OF THE YEAR |
| Information relating to events since the end of the year is given in the notes to the financial statements. |
| DIRECTORS |
| Other changes in directors holding office are as follows: |
| FINANCIAL RISK MANAGEMENT |
| Information on the company's financial risk management objectives and policies and on the exposure of the company to relevant risks in respect of financial instruments is set out in Financial Risk Management note to the financial statements. |
| GOING CONCERN |
| The Directors, at the time of approving the financial statements, considered the Company's business activities together with the main trends and factors likely to affect the Company, the most recent business performance of the Company. They also considered the potential impact of the current operating environment and the known risks arising from, inter alia, geopolitical developments on the business for the next 12 months. |
| The Company has received confirmation that the amounts due to fellow group companies will not be recalled within 12 months from the date of these accounts, unless the sums can be met from available cash resources. The Directors believe that the Company is well placed to manage its financing and other business risks satisfactorily and, has a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future and for at least 12 months from the date of approving the financial statements. The Directors therefore continue to adopt the going concern basis in preparing the financial statements. |
| INSURANCE |
| Camellia Plc purchases insurance to cover its Directors and officers, and those of its subsidiaries in respect of legal actions against them in their capacity as Directors of the Company which were made during the year and remain in force at the date of this report. All Directors have access to independent professional advice at the Company's expense. |
| Linton Park Services Limited (Registered number: 07450015) |
| Report of the Directors |
| for the Year Ended 31 December 2024 |
| DIRECTORS' RESPONSIBILITIES STATEMENT |
| 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 UK-adopted international accounting standards. 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; |
| - | state that the financial statements comply with IFRS; |
| - | 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. |
| 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| AUDITORS |
| The auditors, Deloitte LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Linton Park Services Limited |
| Opinion |
| In our opinion the financial statements of Linton Park Services Limited (the 'company'): |
| - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; |
| - have been properly prepared in accordance with United Kingdom adopted international accounting standards and IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB); and |
| - have been prepared in accordance with the requirements of the Companies Act 2006. |
| We have audited the financial statements which comprise: |
| - the income statement; |
| - the statement of comprehensive income; |
| - the statement of financial position; |
| - the statement of changes in equity; |
| - the statement of cash flows and notes; and |
| - the related notes 1 to 16. |
| The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom adopted international accounting standards and IFRS Accounting Standards as issued by the IASB. |
| 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 auditor's 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 Financial Reporting Council's (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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. |
| 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 course of 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. |
| Report of the Independent Auditors to the Members of |
| Linton Park Services Limited |
| Responsibilities of directors |
| As explained more fully in the directors' responsibilities statement, 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 is 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. |
| Auditor's 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 an auditor's report 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. |
| A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. |
| Extent to which the audit was considered capable of detecting irregularities, including fraud |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. |
| We considered the nature of the company's industry and its control environment and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company's business sector. |
| We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that: |
| - had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK Companies Act and tax legislation. |
| - do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included General Data Protection Regulations "GPDR". |
| We discussed among the audit engagement team including relevant internal specialists such as tax regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. |
| In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. |
| In addition to the above, our procedures to respond to the risks identified included the following: |
| - reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
| - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
| Report of the Independent Auditors to the Members of |
| Linton Park Services Limited |
| - enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and |
| - reading minutes of meetings of those charged with governance. |
| Report on other legal and regulatory requirements |
| 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - the strategic report and the directors' report have been prepared in accordance with applicable legal requirements. |
| 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 any material misstatements in the strategic report or the directors' report. |
| Matters on which we are required to report by exception |
| Under the Companies Act 2006 we are required to report in respect of the following matters 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. |
| We have nothing to report in respect of these matters. |
| 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 an auditor's report 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. |
| for and on behalf of |
| 1 New Street Square |
| London |
| EC4A 3HQ |
| Linton Park Services Limited (Registered number: 07450015) |
| Income Statement |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| CONTINUING OPERATIONS |
| Revenue |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| OPERATING PROFIT |
| Finance income | 4 | 2,120 | 1,755 |
| PROFIT BEFORE TAXATION | 5 |
| Taxation | 6 |
| PROFIT FOR THE YEAR |
| Linton Park Services Limited (Registered number: 07450015) |
| Statement of Comprehensive Income |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| Linton Park Services Limited (Registered number: 07450015) |
| Statement of Financial Position |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| ASSETS |
| CURRENT ASSETS |
| Trade and other receivables | 7 |
| Cash and cash equivalents | 8 |
| LIABILITIES |
| CURRENT LIABILITIES |
| Trade and other payables | 9 |
| NET CURRENT ASSETS | 220,336 | 216,098 |
| NET ASSETS | 220,336 | 216,098 |
| SHAREHOLDERS' EQUITY |
| Share capital | 11 |
| Retained earnings | 12 |
| TOTAL EQUITY |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Linton Park Services Limited (Registered number: 07450015) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2024 |
| Share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 December 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 December 2024 |
| Linton Park Services Limited (Registered number: 07450015) |
| Statement of Cash Flows |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Net cash from operating activities |
| Cash flows from investing activities |
| Interest received |
| Net cash from investing activities |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
211,549 |
| Cash and cash equivalents at end of year |
2 |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Statement of Cash Flows |
| for the Year Ended 31 December 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Profit before income tax |
| Changes in intra-group balances | 4,753 | (84 | ) |
| Finance income | (2,120 | ) | (1,755 | ) |
| 6,871 | 2,194 |
| (Decrease)/increase in trade and other payables | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
| Year ended 31 December 2024 |
| 31.12.24 | 1.1.24 |
| £ | £ |
| Cash and cash equivalents | 219,904 | 215,599 |
| Year ended 31 December 2023 |
| 31.12.23 | 1.1.23 |
| £ | £ |
| Cash and cash equivalents | 215,599 | 211,549 |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Linton Park Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparation |
| Preparation of consolidated financial statements |
| The financial statements contain information about Linton Park Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Camellia Plc, Wrotham Place, Bull Lane, Wrotham, Near Sevenoaks, Kent, TN15 7AE. |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the view of the Directors, apart from those involving estimations (which are presented separately), no critical judgements have been made in the process of applying the Company's accounting policies that have had a significant effect on the amounts recognised in the financial statements. |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are considered to be reasonable under the circumstances. |
| The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. No such estimates or assumptions have been identified that would materially affect the financial statements. |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Changes in accounting policies |
| (i) New and amended IFRS Accounting Standards that are effective for the current year |
| In the current year, the Company has applied the following amendments to IFRS Accounting Standards issued by the International Accounting Standards Board (IASB), none of which have had any material impact on the disclosure or on amounts reported in these financial statements: |
| Amendments to IAS 1 | Classification of liabilities as current or non-current |
| Amendments to IAS 1 | Non-current liabilities with covenants |
| (ii) Standards, amendments and interpretations to existing standards that are not yet effective and have not been adopted early by the Company |
| At the date of authorisation of these financial statements, the Company has not applied the following new and revised IFRS Standards that have been issued but are not yet effective: |
| Amendments to IAS 21 | The Effects of Changes in Foreign Exchange Rates (amendments) - lack of exchangeability |
| Amendments to IFRS 7, 9 | Classification and measurement of financial instruments |
| IFRS 18 | Presentation and Disclosure in Financial Statements |
| Annual Improvements to IFRS Accounting Standards, Volume 11 |
| The Directors do not expect that the adoption of the standards, amendments and interpretations listed above will have a material impact on the financial statements of the Company. |
| Revenue recognition |
| Revenue is measured at fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, value added tax and other sales related taxes. Revenue from management fees is recognised when earned. |
| Cash and cash equivalents |
| Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value. |
| In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank overdrafts. Any such overdrafts are shown within borrowings under ‘current liabilities’ on the Statement of Financial Position. |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| (i) Equity instruments designated as at fair value through other comprehensive income (FVTOCI) |
| On initial recognition, the Company made an irrevocable election (on an instrument by instrument basis) to designate investments in equity instruments as at FVTOCI. |
| Investments in equity instruments designated as FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognised in other comprehensive income and accumulated in the investment revaluation reserve. The cumulative gain or loss is not reclassified to profit or loss on disposal of the equity investments, instead, it is transferred to retained earnings. |
| Dividends on these investments in equity instruments are recognised in profit or loss in accordance with IFRS 9, unless the dividends clearly represent a recovery of part of the cost of the investment. Dividends are included as investment income in the consolidated income statement. |
| (ii) Financial assets at fair value through profit or loss '(FVTPL)' |
| Financial assets that do not meet the criteria for being measured FVTOCI or at amortised cost (see (i) above and (iii) below) are measured at FVTPL. |
| Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognised in profit or loss to the extent they are not part of a designated hedging relationship. |
| (iii) Amortised cost and effective interest method |
| The amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance. The effective interest method is a method of calculating the amortised cost and of allocating interest income over the relevant period. Interest income is recognised in profit or loss and is included in the "finance income interest income" line item. |
| Taxation |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the liability method. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction, other than in a business combination, that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax is determined using tax rates and laws that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related tax asset is realised or the tax liability is settled. |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension obligations |
| Linton Park Services Limited is a participating employer in the Linton Park Pension Scheme (2011), a defined benefit pension scheme. This scheme provides pension benefits to all members of that scheme and it is not possible to identify the Company's share of the underlying assets and liabilities. For this reason pension costs for the Company are charged to the statement of comprehensive income in the period in which they fall due. With effect from 1 November 2016, the scheme was closed to future accruals in respect of current members. Since that date these members have participated in a defined contribution scheme. |
| The Company also participates in the Linton Park Group Personal Pension Plan, a defined contribution scheme. A defined contribution plan is a a pension plan under which the Company pays fixed contributions into a separate entity. The Company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the befits relating to employee service in the current and prior periods.Contributions are recognised as an expense in the statement of comprehensive income when they are due. |
| Going concern |
| The Directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue to operate for the foreseeable future. The Directors therefore continues to adopt the going concern basis of accounting in preparing the financial statements. |
| Investments |
| Investments in subsidiary companies are included at cost less provisions for impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 31.12.24 | 31.12.23 |
| Production | 4 | 4 |
| Management and administration | 2 | 3 |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Directors' remuneration |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | EMPLOYEES AND DIRECTORS - continued |
| The Directors are remunerated by other group companies. |
| 4. | NET FINANCE INCOME |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Finance income: |
| Interest received | 2,120 | 1,755 |
| 5. | PROFIT BEFORE TAXATION |
| The profit before taxation is stated after charging: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Staff costs | 442,842 | 476,118 |
| Audit fees were incurred in relation to the audit of the financial statements. Auditor's remuneration of £2,800 (2023: £2,600) was borne by another group company, Camellia Plc. |
| 6. | TAXATION |
| Analysis of tax expense |
| No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Factors affecting the tax expense |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Profit before income tax |
| Profit multiplied by the standard rate of corporation tax in the UK of |
| Effects of: |
| Group relief | (1,060 | ) | (948 | ) |
| Tax expense |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | TRADE AND OTHER RECEIVABLES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Current: |
| Amounts owed by group undertakings |
| Other receivables | 2 | 2 |
| 8. | CASH AND CASH EQUIVALENTS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Bank accounts |
| 9. | TRADE AND OTHER PAYABLES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Current: |
| Social security and other taxes |
| Other creditors |
| VAT | 21,324 | 24,020 |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | FINANCIAL INSTRUMENTS |
| Capital risk management |
| The company manages its capital to ensure that the company will be able to continue as a going concern, while maximising the return to stakeholders through the optimisation of its debt and equity balance. The capital structure of the company consists of debt, cash and cash equivalents and equity, comprising issued capital, reserves and retained earnings. |
| Categories of financial instruments |
| The company's principal financial liabilities comprise amounts due to fellow subsidiary companies and trade payables. The main purpose of these financial liabilities is to provide working capital for the Company. The Company's financial assets consists of other receivables, amounts due from group undertakings and cash and cash equivalents. |
| 31.12.24 | 31.12.23 |
| Amortised Cost | £ | £ |
| Financial assets |
| Amounts due from group undertakings | 35,357 | 40,110 |
| Other receivables | 2 | 2 |
| Cash and cash equivalents | 219,904 | 215,599 |
| 255,263 | 255,711 |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Financial Liabilities |
| Trade and other payables | 34,927 | 39,612 |
| Credit risk |
| The credit quality of the company's assets that are neither past due or impaired has been assessed as strong/good. |
| Market risk |
| (i) Foreign exchange risk |
| The company has no direct exposure to foreign exchange risk. |
| (ii) Interest rate risk |
| The company has no direct exposure to interest rate risk. |
| 11. | SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2024 |
| Profit for the year |
| At 31 December 2024 |
| 13. | ULTIMATE PARENT COMPANY |
| The parent company is Lawrie Group Plc, which is registered in England and Wales and the ultimate parent company is Camellia Plc, which is also registered in England and Wales. |
| Copies of the Camellia Plc report and accounts prepared in accordance with International Financial Reporting Standards can be obtained from Wrotham Place, Bull Lane, Wrotham, Near Sevenoaks, Kent TN15 7AE. Camellia Plc is the only company to consolidate the company's financial statements. |
| CONTROL OF CAMELLIA PLC |
| Camellia Holding AG holds 1,427,000 ordinary shares of Camellia Plc, (representing 56.45% of total voting rights). Camellia Holding AG is owned by the Camellia Private Trust Company Ltd, a private trust company incorporated under the laws of Bermuda to act as a trustee of the Camellia Foundation. The Camellia Foundation is a Bermudian trust, the income of which is utilised for charitable, educational and humanitarian causes at the discretion of the trustees. |
| 14. | RELATED PARTY TRANSACTIONS |
| Services provided to |
Due from/(to |
) |
| £ | £ |
| AJT Engineering Ltd - provision of employment services | 445,126 | 35,357 |
| Linton Park Plc - VAT group balance | (21,324 | ) |
| Amounts due from and to group undertakings are unsecured, interest free and have no fixed |
| terms of repayment. |
| 15. | EVENTS AFTER THE REPORTING PERIOD |
| There have been no subsequent events requiring disclosure. |
| Linton Park Services Limited (Registered number: 07450015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 16. | EMPLOYEE BENEFIT OBLIGATIONS |
| Until 31 October 2016, the Company contributed to a defined benefit pension scheme operated by Linton Park Plc, a fellow subsidiary company of the group. Further details of the scheme including the disclosures under IAS 19 "Employee Benefits" were disclosed in the financial statements of that company. The scheme plan was closed to new entrants and new employees were admitted to a defined contribution scheme and with effect from 1 November 2016, the scheme was closed to future accruals. |
| The Company operates a defined contribution scheme. The charge to the income statement for the year ended 31 December 2024 was £39,222 (2023: £44,682). |