Linklever Developments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC232366 (Scotland)

Unaudited Financial Statements for the Year Ended 27 September 2022

for

Linklever Developments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr. W J Fletcher

Mrs E E Fletcher

REGISTERED OFFICE:

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

REGISTERED NUMBER:

SC232366 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

FIXED ASSETS

Investment property

4

909,038

3,297,024

CURRENT ASSETS

Debtors

5

23,946

8,262

Cash at bank

904,205

101,339

928,151

109,601

CREDITORS

Amounts falling due within one year

6

171,652

182,121

NET CURRENT ASSETS/(LIABILITIES)

756,499

(72,520

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,665,537

3,224,504

CREDITORS

Amounts falling due after more than one year

7

(30,132

)

(1,301,373

)

PROVISIONS FOR LIABILITIES

(77,524

)

(286,033

)

NET ASSETS

1,557,881

1,637,098

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

232,570

1,219,404

Retained earnings

1,325,307

417,690

1,557,881

1,637,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 September 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.

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 26 June 2023 and were signed on its behalf by:

Mr. W J Fletcher - Director

1.	STATUTORY INFORMATION

Linklever Developments Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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 accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 28 September 2021

3,297,024

Disposals

(2,387,986

)

At 27 September 2022

909,038

NET BOOK VALUE

At 27 September 2022

909,038

At 27 September 2021

3,297,024

Fair value at 27 September 2022 is represented by:

£

Valuation in 2004

423,988

Valuation in 2005

(10,651

)

Valuation in 2006

444,020

Valuation in 2009

500,000

Valuation in 2010

(1,920

)

Valuation in 2015

150,000

Cost

(596,399

)

909,038

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

27.9.22

27.9.21

£

£

Other debtors

11,000

-

Prepayments and accrued income

12,946

8,262

23,946

8,262

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

27.9.22

27.9.21

£

£

Bank loans and overdrafts

9,552

36,841

Tax

88,597

30,103

Deferred income

-

48,000

Loan to associates - Linklever

63,860

63,950

Directors' current accounts

5,751

101

Accrued expenses

3,892

3,126

171,652

182,121

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

27.9.22

27.9.21

£

£

Bank loans - 1-2 years

9,794

38,778

Bank loans - 2-5 years

20,338

129,396

Bank loans more 5 yr by instal

-

1,133,199

30,132

1,301,373

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,133,199

8.	SECURED DEBTS

The following secured debts are included within creditors:

27.9.22

27.9.21

£

£

Bank loan

-

1,289,214

The above bank loan is secured by a fixed charge over the company's investment property.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £34,434 were paid to the directors .

From time to time the company enters into transactions with other companies under common control or controlled by family members.

Balances owed from companies with common control

2022

Debtor

£

Loan balances with companies under common control

11,000

The above loans are repayable upon demand and are interest free.