Linwood Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06039651 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

LINWOOD INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Deol

S Deol

SECRETARY:

M S Deol

REGISTERED OFFICE:

The Roastery

13-14 Sydney Street

Brighton

East Sussex

BN1 4EN

REGISTERED NUMBER:

06039651 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Tangible assets

4

1,815

2,024

Investments

5

906,637

906,637

908,452

908,661

CURRENT ASSETS

Debtors

6

614,770

434,713

Cash at bank

414,810

144,261

1,029,580

578,974

CREDITORS

Amounts falling due within one year

7

869,766

326,573

NET CURRENT ASSETS

159,814

252,401

TOTAL ASSETS LESS CURRENT LIABILITIES

1,068,266

1,161,062

CREDITORS

Amounts falling due after more than one year

8

473,562

559,186

NET ASSETS

594,704

601,876

CAPITAL AND RESERVES

Called up share capital

11

200,024

200,024

Retained earnings

394,680

401,852

SHAREHOLDERS' FUNDS

594,704

601,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2021 and were signed on its behalf by:

M S Deol - Director

1.	STATUTORY INFORMATION

Linwood Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue is measured at fair value of the consideration received or receivable. Turnover represents management fees receivable from group companies.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the lease term

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Short

leasehold

£

COST

At 1 April 2020

and 31 March 2021

2,607

DEPRECIATION

At 1 April 2020

583

Charge for year

209

At 31 March 2021

792

NET BOOK VALUE

At 31 March 2021

1,815

At 31 March 2020

2,024

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2020

and 31 March 2021

906,637

NET BOOK VALUE

At 31 March 2021

906,637

At 31 March 2020

906,637

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by group undertakings

345,839

374,713

Amounts owed by connected companies

43,349

60,000

Other debtors

225,582

-

614,770

434,713

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

132,067

116,531

Amounts owed to group undertakings

731,880

164,588

Taxation and social security

4,469

20,601

Other creditors

1,350

24,853

869,766

326,573

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

473,562

559,186

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

53,638

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

84,000

84,000

Between one and five years

336,000

336,000

In more than five years

308,000

392,000

728,000

812,000

During the year, these leasing commitments in respect of land and buildings were borne by Trading Post Coffee Roasters (Sussex) Ltd, a subsidiary company.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

605,629

675,717

The bank loans are secured by a fixed charge and floating charge over all assets of the company by way of a debenture registered on 20 December 2016.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

200,024

Ordinary

£1

200,024

200,024

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period, the company paid net funds of £219,187 to the directors. At 31 March 2021 the aggregate amount of the loans outstanding from the directors was £195,583 (2019: 23,604 due to directors) and is included within 'Other debtors' under 'Debtors: amounts falling due within one year'. Interest at a rate of 2.25% has been paid on the outstanding amount.