Linaker_Green_Limited_31_Dec_2021_companies_house_set_of_accounts.html

LINAKER GREEN LIMITED - Company Information

Company registration number:

02149534

Linaker Green Limited

Unaudited Filleted Financial Statements for the year ended

31 December 2021

Linaker Green Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Linaker Green Limited

Year ended

31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Linaker Green Limited

for the year ended

31 December 2021

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Linaker Green Limited

, as a body, in accordance with the terms of our engagement letter dated 1 September 2021. Our work has been undertaken solely to prepare for your approval the

financial statements

Linaker Green Limited

and state those matters that we have agreed to state to the Board of Directors of

Linaker Green Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Linaker Green Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Linaker Green Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Linaker Green Limited

. You consider that

Linaker Green Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Linaker Green Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Emery & Co Accountants Limited

Office Suite 10

The Old Cottage Hospital

Leicester Road

Ashby-De-La-Zouch

LE65 1DB

United Kingdom

Linaker Green Limited

Statement of Financial Position

31 December 2021

		2021		2020
	Note	£		£
Fixed assets
Tangible assets	5	636		428
Current assets
Debtors	6	901,032		1,008,464
Cash at bank and in hand		700,511		639,912
		1,601,543		1,648,376
Creditors: amounts falling due within one year	7	(396,840	)	(425,287	)
Net current assets		1,204,703		1,223,089
Total assets less current liabilities		1,205,339		1,223,517
Capital and reserves
Called up share capital		10,000		10,000
Share premium		22,500		22,500
Profit and loss account		1,172,839		1,191,017
Shareholders funds		1,205,339		1,223,517

For the year ending

31 December 2021

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

28 February 2022

, and are signed on behalf of the board by:

G Green

Director

Company registration number:

02149534

Linaker Green Limited

Notes to the Financial Statements

Year ended

31 December 2021

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Norman House

11 Dudley Road

Halesowen

West Midlands

B63 3LS

, .

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to enable it to continue to meet its obligations as they fall due for at least the next 12 months.

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.

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.

Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

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 profit and loss account, 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	12.5% straight line
Office equipment	20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

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.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

4 Average number of employees

The average number of persons employed by the company during the year was

(2020:

8.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 January 2021	74,166
Additions	320
At 31 December 2021	74,486
Depreciation
At 1 January 2021	73,738
Charge	112
At 31 December 2021	73,850
Carrying amount
At 31 December 2021	636
At 31 December 2020	428

6 Debtors

	2021	2020
	£	£
Trade debtors	109,687	95,408
Amounts owed by group undertakings and undertakings in which the company has a participating interest	540,855	540,855
Other debtors	250,490	372,201
	901,032	1,008,464

7 Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	301,579	283,210
Taxation and social security	40,565	47,072
Other creditors	54,696	95,005
	396,840	425,287

8 Related party transactions

Included in other creditors is an amount of £98 (2019: £98) due to the director, Mr G Green. This loan is interest free and repayable on demand.

Included in other debtors is an amount of £540,855 (2019: £540,855) due from G N Green Limited. This was the maximum amount outstanding during the year.

9 Controlling party

The ultimate controlling party is the director, Mr G Green, by virtue of his majority shareholdings.