Links Corporate Limited - Period Ending 2021-12-31

Links Corporate Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Links Corporate Limited

Company Information

Directors

D G Morgan D L Poyner

Registered office

Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Links Corporate Limited

(Registration number: 08996619)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Investment property	4	563,249	563,249
Investments	5	151	151
		563,400	563,400
Current assets
Debtors	6	1,956,854	1,784,425
Cash at bank and in hand		419,351	477,704
		2,376,205	2,262,129
Creditors: Amounts falling due within one year	7	(247,604)	(105,631)
Net current assets		2,128,601	2,156,498
Total assets less current liabilities		2,692,001	2,719,898
Creditors: Amounts falling due after more than one year	7	(186,924)	(210,087)
Net assets		2,505,077	2,509,811
Capital and reserves
Called up share capital	8	6	6
Retained earnings		2,505,071	2,509,805
Shareholders' funds		2,505,077	2,509,811

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Links Corporate Limited

(Registration number: 08996619)
Balance Sheet as at 31 December 2021

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 September 2022 and signed on its behalf by:
 

D G Morgan Director

D L Poyner Director

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

These financial statements were authorised for issue by the Board on 28 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 3).

4	Investment properties

	2021 £
At 1 January	563,249
At 31 December	563,249

There has been no valuation of investment property by an independent valuer.

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5	Investments

	2021 £	2020 £
Investments in subsidiaries	151	151

Subsidiaries	£
Cost or valuation
At 1 January 2021	151
At 31 December 2021	151
Carrying amount
At 31 December 2021	151
At 31 December 2020	151

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2021	2020
Subsidiary undertakings
Links Electrical Supplies Limited	Unit 36, Mochdre Industrial Estate, Newtown Powys SY16 4LE Wales	Ordinary	95%	95%

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Debtors

	Note	2021 £	2020 £
Trade debtors		14,393	21,797
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11	884,366	884,366
Other debtors		1,058,095	878,262
		1,956,854	1,784,425

7

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Loans and borrowings	9	23,145	21,927
Trade creditors		-	4,519
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	202,144	21,694
Taxation and social security		1,565	35,030
Accruals and deferred income		20,750	-
Other creditors		-	22,461
		247,604	105,631

Creditors include bank loans and overdrafts which are secured of £23,145 (2020 - £21,927).

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	9	186,924	210,087

Creditors include bank loans and overdrafts which are secured of £186,924 (2020 - £210,087).

	2021 £	2020 £
Due after more than five years
After more than five years by instalments	88,894	109,018

	-	-

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary of £1 each	155	155	155	155

9	Loans and borrowings

	2021 £	2020 £
Non-current loans and borrowings
Bank borrowings	186,924	210,087

	2021 £	2020 £
Current loans and borrowings
Bank borrowings	23,145	21,927

10	Parent and ultimate parent undertaking

The company's immediate parent is LES Holdings Limited, incorporated in England and Wales.
 

Links Corporate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

11	Related party transactions

At 31 December 2021 the company had a balance of £9,489 due from the directors, which is included in Other debtors.

At the year end the company had balances owed by companies under the control of the directors totalling £680,000 (2020 - £680,000), which are included in Other debtors.

At 31 December 2021, there were balances owed by entities within the group: £884,366 (2020 - £884,366) included in debtors and £202,144 included in creditors.