Company registration number 06744194 (England and Wales)
Linfit Investments (Yorkshire) Limited
Unaudited financial statements
For the year ended 31 May 2025
Linfit Investments (Yorkshire) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Linfit Investments (Yorkshire) Limited
Statement of financial position
As at 31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
2,710,000
2,860,000
Current assets
Debtors
4
320,080
727
Cash at bank and in hand
-
0
4,371
320,080
5,098
Creditors: amounts falling due within one year
5
(387,271)
(126,014)
Net current liabilities
(67,191)
(120,916)
Total assets less current liabilities
2,642,809
2,739,084
Creditors: amounts falling due after more than one year
6
(1,182,355)
(1,220,482)
Provisions for liabilities
(107,015)
(107,015)
Net assets
1,353,439
1,411,587
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,353,339
1,411,487
Total equity
1,353,439
1,411,587
Linfit Investments (Yorkshire) Limited
Statement of financial position (continued)
As at 31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 September 2025 and are signed on its behalf by:
Mrs J Munnelly
Mr J V Munnelly
Director
Director
Company registration number 06744194 (England and Wales)
Linfit Investments (Yorkshire) Limited
Notes to the financial statements
For the year ended 31 May 2025
- 3 -
1
Accounting policies
Company information

Linfit Investments (Yorkshire) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Linfit Court, Colliers Way, Clayton West, Huddersfield, HD8 9WL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Other income

Turnover represents the amount receivable, in the ordinary course of business, from the rental of properties excluding value added tax.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Linfit Investments (Yorkshire) Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current 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 reporting end date.

Linfit Investments (Yorkshire) Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Investment property
2025
£
Fair value
At 1 June 2024
2,860,000
Additions
67,598
Disposals
(217,598)
At 31 May 2025
2,710,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by an independent valuer. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Linfit Investments (Yorkshire) Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
3
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
2,006,264
2,031,264
Accumulated depreciation
-
-
Carrying amount
2,006,264
2,031,264
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
320,000
-
0
Other debtors
80
727
320,080
727
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
135,836
24,838
Trade creditors
132
3,515
Amounts owed to group undertakings
78,818
30,000
Corporation tax
11,515
8,842
Other creditors
160,970
58,819
387,271
126,014
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,182,355
1,220,482

The bank loans are secured by a fixed and floating charge over the assets of the company.

7
Financial commitments, guarantees and contingent liabilities

The company is subject to an unlimited guarantee for the bank borrowings. As at the balance sheet date, these borrowings amounted to £1,245,320 (2024 - £1,245,320).

Linfit Investments (Yorkshire) Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
- 7 -
8
Parent company

The parent company of Linfit Investments (Yorkshire) Limited is Linfit Group Holdings Ltd and its registered office is Unit 1, Linfit Court, Colliers Way, Huddersfield, HD8 9WL.

2025-05-31 2024-06-01 false false false 22 September 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mrs J Munnelly Mr J V Munnelly 06744194 2024-06-01 2025-05-31 06744194 2025-05-31 06744194 2024-05-31 06744194 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 06744194 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 06744194 core:WithinOneYear 2025-05-31 06744194 core:WithinOneYear 2024-05-31 06744194 core:AfterOneYear 2025-05-31 06744194 core:AfterOneYear 2024-05-31 06744194 core:CurrentFinancialInstruments 2025-05-31 06744194 core:CurrentFinancialInstruments 2024-05-31 06744194 core:ShareCapital 2025-05-31 06744194 core:ShareCapital 2024-05-31 06744194 core:RetainedEarningsAccumulatedLosses 2025-05-31 06744194 core:RetainedEarningsAccumulatedLosses 2024-05-31 06744194 bus:Director1 2024-06-01 2025-05-31 06744194 bus:Director2 2024-06-01 2025-05-31 06744194 2023-06-01 2024-05-31 06744194 2024-05-31 06744194 core:Non-currentFinancialInstruments 2025-05-31 06744194 core:Non-currentFinancialInstruments 2024-05-31 06744194 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 06744194 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 06744194 bus:FRS102 2024-06-01 2025-05-31 06744194 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 06744194 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP