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Company registration number: 05628041
LINZISHOES LIMITED
Unaudited filleted financial statements
31 March 2024
LINZISHOES LIMITED
Contents
Director and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
LINZISHOES LIMITED
Directors and other information

| Director | Mr A J Morris
| Secretary | Mrs L Morris
| Company number | 05628041
| Registered office | Unit 2, Trade City
|  | Ashton Road
|  | Romford
|  | Essex
|  | RM3 8UJ
| Business address | Unit 2, Trade City
|  | Ashton Road
|  | Romford
|  | Essex
|  | RM3 8UJ

| Bankers | Barclays Bank
|  | Barclays Business Centre Birmingham
|  | 15 Colmore Row
|  | Birmingham
|  | B3 2BY
|  | Lloyds Bank
|  | 1-3 Market Place
|  | Romford
|  | Essex
|  | RM1 3AA

LINZISHOES LIMITED
Statement of financial position
31 March 2024

|  |  | 2024 |  |  |  | 2023 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 11 | - |  |  |  | - |  |
Tangible assets |  | 12 | 17,291 |  |  |  | 28,939 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 17,291 |  |  |  | 28,939
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 2,556,630 |  |  |  | 1,637,637 |  |
Debtors |  | 13 | 607,504 |  |  |  | 510,505 |  |
Cash at bank and in hand |  |  | 3,400,138 |  |  |  | 1,566,644 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 6,564,272 |  |  |  | 3,714,786 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 14 | ( 1,462,348) |  |  |  | ( 929,986) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 5,101,924 |  |  |  | 2,784,800
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 5,119,215 |  |  |  | 2,813,739
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 5,119,215 |  |  |  | 2,813,739
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  | 15 |  |  | 100 |  |  |  | 100
Profit and loss account |  |  |  |  | 5,119,115 |  |  |  | 2,813,639
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 5,119,215 |  |  |  | 2,813,739
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 December 2024 , and are signed on behalf of the board by:
Mr A J Morris
Director
Company registration number: 05628041
LINZISHOES LIMITED
Statement of changes in equity
Year ended 31 March 2024

|  | Called up share capital |  | Profit and loss account | Total |  |  |  |  |
|  | £ |  | £ | £ |  |  |  |  |
At 1 April 2022 |  | 100 |  | 1,710,117 | 1,710,217 |  |  |  |  |
Profit for the year |  |  |  | 1,145,522 | 1,145,522 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 1,145,522 | 1,145,522 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 42,000) | ( 42,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 42,000) | ( 42,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 March 2023 and 1 April 2023 |  | 100 |  | 2,813,639 | 2,813,739 |  |  |  |  |
Profit for the year |  |  |  | 2,418,976 | 2,418,976 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 2,418,976 | 2,418,976 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 113,500) | ( 113,500) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 113,500) | ( 113,500) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 March 2024 |  | 100 |  | 5,119,115 | 5,119,215 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |

LINZISHOES LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 2, Trade City, Ashton Road, Romford, Essex, RM3 8UJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:

| Fittings fixtures and equipment | - | 15 % | straight line
| Motor vehicles | - | 25 % | straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Turnover
The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

|  |  | 2024 | 2023
|  |  | £ | £
| United Kingdom |  | 11,444,740 | 12,684,568
| Europe |  | 10,219 | 35,281
| Rest of the World |  | 56,337 | 98,928
|  |  | _______ | _______
|  |  | 11,511,296 | 12,818,777
|  |  | _______ | _______

5. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:

|  |  | 2024 | 2023
| Distribution staff |  | 16 | 9
| Administrative staff |  | 43 | 55
|  |  | _______ | _______
|  |  | 59 | 64
|  |  | _______ | _______

The aggregate payroll costs incurred during the year were:

|  |  | 2024 | 2023
|  |  | £ | £
| Wages and salaries |  | 1,273,579 | 1,064,050
| Social security costs |  | 80,344 | 65,222
| Other pension costs |  | 19,716 | 16,474
|  |  | _______ | _______
|  |  | 1,373,639 | 1,145,746
|  |  | _______ | _______

6. Employee numbers
The average number of persons employed by the company during the year amounted to 59 (2023: 64 ).
7. Directors remuneration
The director's aggregate remuneration in respect of qualifying services was:

|  |  | 2024 | 2023
|  |  | £ | £
| Remuneration |  | 24,000 | 24,000
| Company contributions to pension schemes in respect of qualifying services |  | 533 | 533
|  |  | _______ | _______
|  |  | 24,533 | 24,533
|  |  | _______ | _______

8. Other interest receivable and similar income

|  |  | 2024 | 2023
|  |  | £ | £
| Bank deposits |  | 35,748 | 1,670
| Other interest receivable and similar income |  | 111 | -
|  |  | _______ | _______
|  |  | 35,859 | 1,670
|  |  | _______ | _______

9. Tax on profit
Major components of tax expense

|  |  | 2024 | 2023
|  |  | £ | £
| Current tax: |  |  |
| UK current tax expense |  | 810,219 | 265,215
| Adjustments in respect of previous periods |  | 32 | -
|  |  | _______ | _______
| Tax on profit |  | 810,251 | 265,215
|  |  | _______ | _______

Reconciliation of tax expense
The tax assessed on the profit for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25.00 % (2023: 19.00%).

|  |  | 2024 | 2023
|  |  | £ | £
| Profit before taxation |  | 3,229,227 | 1,410,737
|  |  | _______ | _______
| Profit multiplied by rate of tax |  | 807,307 | 268,040
| Adjustments in respect of prior periods |  | 32 | -
| Effect of expenses not deductible for tax purposes |  | 2,912 | -
| Effect of capital allowances and depreciation |  | - | ( 2,825)
|  |  | _______ | _______
| Tax on profit |  | 810,251 | 265,215
|  |  | _______ | _______

10. Dividends
Equity dividends

|  |  | 2024 | 2023
|  |  | £ | £
| Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) |  | 113,500 | 42,000
|  |  | _______ | _______

11. Intangible assets

|  | Goodwill | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 April 2023 and 31 March 2024 | 187,500 | 187,500 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 April 2023 and 31 March 2024 | 187,500 | 187,500 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 March 2024 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2023 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |

12. Tangible assets

|  | Fixtures, fittings and equipment | Motor vehicles | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 April 2023 and 31 March 2024 | 187,162 | 25,493 | 212,655 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 April 2023 | 178,197 | 5,519 | 183,716 |  |  |  |
| Charge for the year | 5,274 | 6,374 | 11,648 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 March 2024 | 183,471 | 11,893 | 195,364 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 March 2024 | 3,691 | 13,600 | 17,291 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 March 2023 | 8,965 | 19,974 | 28,939 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

13. Debtors

|  |  | 2024 | 2023
|  |  | £ | £
| Trade debtors |  | 524,997 | 429,190
| Prepayments and accrued income |  | 82,507 | 81,315
|  |  | _______ | _______
|  |  | 607,504 | 510,505
|  |  | _______ | _______

14. Creditors: amounts falling due within one year

|  |  | 2024 | 2023
|  |  | £ | £
| Bank loan |  | - | 31,667
| Trade creditors |  | 516,029 | 322,303
| Amount owed to participating undertaking |  | 28,560 | 54,600
| Accruals and deferred income |  | 12,442 | 8,274
| Corporation tax |  | 810,219 | 437,338
| Social security and other taxes |  | 90,441 | 70,957
| Director's loan account |  | 237 | 1,136
| Other creditors |  | 4,420 | 3,711
|  |  | _______ | _______
|  |  | 1,462,348 | 929,986
|  |  | _______ | _______

15. Called up share capital
Issued, called up and fully paid

|  |  | 2024 |  |  |  | 2023 |  |
|  |  | No |  | £ |  | No |  | £
| Ordinary shares of £ 1.00 each |  | 100 |  | 100 |  | 100 |  | 100
|  |  | _______ |  | _______ |  | _______ |  | _______

16. Directors advances, credits and guarantees

| During the year the director entered into the following advances and credits with the company: |  |  |  |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the director | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr A J Morris | ( 1,136) | 899 | ( 237) |  |  |
|  | _______ | _______ | _______ |  |  |
2023 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the director | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr A J Morris | ( 4,432) | 3,296 | ( 1,136) |  |  |
|  | _______ | _______ | _______ |  |  |

17. Related party transactions
During the year the company entered into the following transactions with related parties:

|  | Transaction value |  | Balance owed by/(owed to) |
|  | 2024 | 2023 | 2024 | 2023
|  | £ | £ | £ | £
| WWW.Linzishoes Limited | ( 28,560) | ( 54,600) | ( 28,560) | ( 54,600)
|  | _______ | _______ | _______ | _______

During the year, management charges of £23,800 (2023: £33,000) were incurred from a related undertaking, WWW.Linzishoes Limited, a company which has the same director and shareholder as the company.
During the year, the company paid rents totalling £78,000 (2023 - £78,000) to Mr AJ Morris for the use of commercial premises.
18. Controlling party
The company is under the control of Mr A J Morris , the company's director and majority shareholder throughout the current year and previous year.