Link CCTV Systems Limited - Accounts to registrar (filleted) - small 23.1.2

Link CCTV Systems Limited - Accounts to registrar (filleted) - small 23.1.2

LINK CCTV SYSTEMS LIMITED - Company Information

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REGISTERED NUMBER: 05425987 (England and Wales)















LINK CCTV SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022





Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP








LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022










Page

Company information 1

Chartered accountants' report 2

Abridged statement of financial position 3 to 4

Notes to the financial statements 5 to 8


LINK CCTV SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2022







Directors: R Mitchinson
S L Clark





Registered office: Business and Technology Centre
Bessemer Drive
Stevenage
Hertfordshire
SG1 2DX





Registered number: 05425987 (England and Wales)





Accountants: Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LINK CCTV SYSTEMS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Link CCTV Systems Limited for the year ended 31st October 2022 which comprise the Income statement, Abridged Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Link CCTV Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Link CCTV Systems Limited and state those matters that we have agreed to state to the Board of Directors of Link CCTV Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Link CCTV Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Link CCTV Systems 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 Link CCTV Systems Limited. You consider that Link CCTV Systems 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 Link CCTV Systems 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.






Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


4th April 2023

This page does not form part of the statutory financial statements

Page 2
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST OCTOBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 32,065 39,305
Investments 6 200 200
32,265 39,505

CURRENT ASSETS
Inventories 600,762 389,521
Debtors 2,223,088 2,220,111
Cash at bank and in hand 1,892,083 1,358,264
4,715,933 3,967,896
CREDITORS
Amounts falling due within one year (1,894,864 ) (1,681,247 )
NET CURRENT ASSETS 2,821,069 2,286,649
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,853,334
2,326,154

CREDITORS
Amounts falling due after more than
one year
(140,629
)
(212,500
)

PROVISIONS FOR LIABILITIES (5,528 ) (6,409 )
NET ASSETS 2,707,177 2,107,245

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 2,707,077 2,107,145
SHAREHOLDERS' FUNDS 2,707,177 2,107,245

The notes form part of these financial statements

Page 3
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST OCTOBER 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 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.

All the members have consented to the preparation of an abridged Statement of financial position for the year ended 31st October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 23rd March 2023 and were signed on its behalf by:





S L Clark - Director


The notes form part of these financial statements

Page 4
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022


1. STATUTORY INFORMATION

Link CCTV Systems 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue recognition
Revenue receivable from maintenance contracts is recognised on a straight line basis over the contract term, Revenue from maintenance contracts which relates to periods subsequent to the period end is included in current liabilities as deferred income.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 25% and 33% on cost and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Page 5
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Tax
Tax 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 tax 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2021 - 36 ) .

Page 6
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
Cost
At 1st November 2021 122,845
Additions 6,787
Disposals (11,490 )
At 31st October 2022 118,142
Depreciation
At 1st November 2021 83,540
Charge for year 14,027
Eliminated on disposal (11,490 )
At 31st October 2022 86,077
Net book value
At 31st October 2022 32,065
At 31st October 2021 39,305

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
Cost
At 1st November 2021
and 31st October 2022 200
Net book value
At 31st October 2022 200
At 31st October 2021 200

7. LEASING AGREEMENTS
As at the balance sheet date the company had total operating lease commitments of £138,235 (2021: £214,935).

Page 7
LINK CCTV SYSTEMS LIMITED (REGISTERED NUMBER: 05425987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


8. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
6,250 Ordinary £0.01 63 63
3,750 Ordinary A £0.01 37 37
100 100

Page 8