Interlinked Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Interlinked Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09107788 . The registered office is 11 John Tate Road, Hertford, SG13 7NW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and supply of goods.

Rendering of services

Turnover from the rendering of services is recognised in the period the service is provided and on a stage of completion basis. Stage of completion is based on labour hours completed and labour hours remaining to complete project. Billing in advance of services is treated as deferred income.

Supply of goods

Turnover from the supply of goods is recognised when the risks and rewards of ownership pass to the customer.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are a website, It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	25% reducing balance
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	33.33% straight line

2.5. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Interlinked Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.11. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the 2024 was: 10 (2023: 9)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	16,234

As at 31 December 2024	16,234

Amortisation
As at 1 January 2024	16,234

As at 31 December 2024	16,234

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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Interlinked Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	9,254	99,222	18,933	127,409
Additions	-	14,263	23,952	38,215

As at 31 December 2024	9,254	113,485	42,885	165,624

Depreciation
As at 1 January 2024	4,101	52,225	6,795	63,121
Provided during the period	2,313	10,963	11,121	24,397

As at 31 December 2024	6,414	63,188	17,916	87,518

Net Book Value
As at 31 December 2024	2,840	50,297	24,969	78,106

As at 1 January 2024	5,153	46,997	12,138	64,288

6. Investments

	Unlisted
	£
Cost
As at 1 January 2024	-
Additions	30,658

As at 31 December 2024	30,658

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	30,658

As at 1 January 2024	-

7. Stocks

	2024	2023
	£	£
Stock	-	3,107
Work in progress	236,636	422,091

	236,636	425,198

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Interlinked Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,886,505	1,350,471
Amounts owed by group undertakings	252,443	23,881
Other debtors	1,648,991	1,359,784

	3,787,939	2,734,136

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,043,316	728,616
Bank loans and overdrafts	105,475	165,741
Other creditors	1,726,995	1,775,280
Taxation and social security	225,291	243,348

	3,101,077	2,912,985

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	31,908	181,119

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	101	101

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	18,750	18,750
Later than one year and not later than five years	75,000	93,750

	93,750	112,500

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Interlinked Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Related Party Transactions

M P Grimwood

The above is the director of the company.

During the year, the director incurred expenses on behalf of the company and drew against his account.

At the balance sheet date, he was owed £29,145 (2023: £33,367) by the company.

No interest was charged on this loan during the period.

P Grimwood

The above is a related party by virtue of being related to the Director and a shareholder of the parent company.

During the year the related party drew monies against his loan account.

At the balance sheet date the related party owed the company £nil (2023: £1,353).

No interest has been charged on this loan during the period.

Interlinked Fire & Security Limited

The above is a related party by virtue of being a group company.

During the period the company loaned funds to the related party and incurred costs on behalf of the related party.

During the period costs were recharged to the related party amounting to £Nil (2023: £64,843).

During the period costs were recharged from the related party amounting to £255,482 (2023: £245,813).

At the balance sheet date the related party owed the company £210,512 (2023: £22,881).

At the balance sheet date the company was owed £6,290 (2023: £56,735) by way of trade debtor.

At the balance sheet date the company owed £4,535 (2023: £Nil) by way of trade creditor.

Interlinked Facilities Management Limited

The above is a related party by virtue of being a group company.

During the period costs were recharged to the related party amounting to £Nil (2023: £3,999).

During the period costs were recharged from the related party amounting to £127,811 (2023: £115,434).

At the balance sheet date the related party owed the company £13,808 (2023: £Nil).

At the balance sheet date the company was owed £32,047 (2023: £23,207) by way of trade debtor.

At the balance sheet date the company owed £82,410 (2023: £Nil) by way of trade creditor.

Interlinked Group Limited

The above is a related party by virtue of being the parent company.

During the period the company loaned funds to the related party.

During the period management charges were incurred from the related party amounting to £542,659 (2023: £374,371).

During the period rent was recharged to the related party amounting to £19,712 (2023: £9,856).

At the balance sheet date the company was owed £28,123 (2023: £1,000) from the related party.

At the balance sheet date the company was owed £5,907 (2023: £6,901) by way of trade debtor.

At the balance sheet date the company owed the related party £162,466 (2023: £66,784) by way of trade creditor.

N Mankoo

The above is a related party by virtue of being related to one of the shareholders.

During the period subcontractor fees of £19,800 (2023: £22,200) were invoiced to the company.

At the balance sheet date the company owed £1,800 (2023: £1,800) by way of trade creditor.

14. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Interlinked Group Limited . The ultimate controlling party is M Grimwood by virtue of his ownership in Interlinked Group Limited.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		78,106		64,288
Investments	6		30,658		-

			108,764		64,288
CURRENT ASSETS
Stocks	7	236,636		425,198
Debtors	8	3,787,939		2,734,136
Cash at bank and in hand		608,091		1,137,453

		4,632,666		4,296,787
Creditors: Amounts Falling Due Within One Year	9	(3,101,077 )		(2,912,985 )

NET CURRENT ASSETS (LIABILITIES)			1,531,589		1,383,802

TOTAL ASSETS LESS CURRENT LIABILITIES			1,640,353		1,448,090

Creditors: Amounts Falling Due After More Than One Year	10		(31,908 )		(181,119 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(19,527 )		(16,072 )

NET ASSETS			1,588,918		1,250,899

CAPITAL AND RESERVES
Called up share capital	11		101		101
Profit and Loss Account			1,588,817		1,250,798

SHAREHOLDERS' FUNDS			1,588,918		1,250,899