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Registered number: 12471277
Linc Telecom Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
HSJ Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12471277
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 131,750 66,750
Tangible Assets 5 51,110 47,202
182,860 113,952
CURRENT ASSETS
Stocks 6 15,000 9,840
Debtors 7 135,734 88,856
Cash at bank and in hand 479,857 245,028
630,591 343,724
Creditors: Amounts Falling Due Within One Year 8 (383,319 ) (134,281 )
NET CURRENT ASSETS (LIABILITIES) 247,272 209,443
TOTAL ASSETS LESS CURRENT LIABILITIES 430,132 323,395
Creditors: Amounts Falling Due After More Than One Year 9 (4,566 ) (14,851 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,728 ) (10,811 )
NET ASSETS 415,838 297,733
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 415,828 297,723
SHAREHOLDERS' FUNDS 415,838 297,733
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B A Stewart
Director
10 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Linc Telecom Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12471277 . The registered office is 3 Stangate House, Stanwell Road, Penarth, CF64 2AA.
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. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period the revision and future periods where the revisions affects both current and future periods
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are telecom licenses. It is amortised to profit and loss account over its estimated economic life, which is deemed to be indefinite as the licenses are reuseable and are able to be reallocated to new users from old users.
2.5. 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 10% Straight Line
Plant & Machinery 25% Straight line
Motor Vehicles 33% Reducing Balance
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 5)
7 5
4. Intangible Assets
Other
£
Cost
As at 1 March 2024 66,750
Additions 65,000
As at 28 February 2025 131,750
Net Book Value
As at 28 February 2025 131,750
As at 1 March 2024 66,750
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2024 9,695 31,400 22,767 - 63,862
Additions - 5,031 17,125 297 22,453
As at 28 February 2025 9,695 36,431 39,892 297 86,315
Depreciation
As at 1 March 2024 424 7,464 8,772 - 16,660
Provided during the period 969 8,180 9,328 68 18,545
As at 28 February 2025 1,393 15,644 18,100 68 35,205
...CONTINUED
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Page 5
Net Book Value
As at 28 February 2025 8,302 20,787 21,792 229 51,110
As at 1 March 2024 9,271 23,936 13,995 - 47,202
6. Stocks
2025 2024
£ £
Stock 15,000 9,840
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 129,259 87,101
Other debtors 6,475 1,755
135,734 88,856
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 65,335 29,558
Bank loans and overdrafts 9,890 9,890
Other creditors 151,679 49,593
Taxation and social security 156,415 45,240
383,319 134,281
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 4,566 14,851
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
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