ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-302023-05-15No description of principal activitytrue02021-10-010falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10363522 2021-10-01 2022-09-30 10363522 2020-10-01 2021-09-30 10363522 2022-09-30 10363522 2021-09-30 10363522 c:Director2 2021-10-01 2022-09-30 10363522 d:CurrentFinancialInstruments 2022-09-30 10363522 d:CurrentFinancialInstruments 2021-09-30 10363522 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 10363522 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 10363522 d:ShareCapital 2022-09-30 10363522 d:ShareCapital 2021-09-30 10363522 d:RetainedEarningsAccumulatedLosses 2022-09-30 10363522 d:RetainedEarningsAccumulatedLosses 2021-09-30 10363522 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 10363522 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-09-30 10363522 c:FRS102 2021-10-01 2022-09-30 10363522 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 10363522 c:FullAccounts 2021-10-01 2022-09-30 10363522 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 10363522

LINEA EN2 LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

LINEA EN2 LTD

REGISTERED NUMBER: 10363522

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

		2022		2021
Note		£		£


Current assets
Stocks		30,386		-
Debtors: amounts falling due within one year	4	438,723		1,566,305
Cash at bank and in hand	5	348		7,029
		469,457		1,573,334
Creditors: amounts falling due within one year	6	(853,150)		(2,003,667)
Net current liabilities			(383,693)		(430,333)
Total assets less current liabilities			(383,693)		(430,333)

Net liabilities			(383,693)		(430,333)

Capital and reserves
Called up share capital	10	10
Profit and loss account	(383,703)	(430,343)
	(383,693)	(430,333)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ Antony David Stark	................................................ Gavin H Sherman
Director	Director

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LINEA EN2 LTD

REGISTERED NUMBER: 10363522

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2022


Date: 15 May 2023	Date15 May 2023

The notes on pages 3 to 6 form part of these financial statements.

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LINEA EN2 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.	General information

Linea EN2 Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 10363522
Registered office: The Courtyard, 14a Sydenham Road, Croydon, England, CR0 2EE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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LINEA EN2 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a SELECT OR ENTER METHOD basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Investments in non-derivative instruments that are equity to the issuer are measured:

∙at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the

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LINEA EN2 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

2.8

Financial instruments (continued)

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2021 - 0).

Debtors

					2022	2021
					£	£


Other debtors	438,723	1,566,305
	438,723	1,566,305

5.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	348	7,029
	348	7,029

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LINEA EN2 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	13,791	22,650
Other taxation and social security	18,064	11,806
Other creditors	819,795	1,967,711
Accruals and deferred income	1,500	1,500
	853,150	2,003,667

7.	Financial instruments
		2022	2021
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	348	7,029

Related party transactions

Included in other debtors is an amount of £438,723 (2021: £1,409,451 due to) due from Linea Homes Ltd.
Included in other creditors is an amount of £466,281.81 (2021: 1,750,000) due to Linea Property Ltd.
Included in other creditors is an amount of £175,000 (2021: £61,519) due to GS & Co Ltd.
G Sherman is a director of the company and has a material interest in the company. There are no terms as to interest of repayment in respect of the above balance.
Included in other creditors is an amount of £175,000 (2021: £61,519) due to Stark Investments Ltd. I.
A Stark is a director of the company and has a material interest in the company. There are no terms as to interest of repayment in respect of the above balance..

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