Linnells Limited Filleted accounts for Companies House (small and micro)

6 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04167650 2022-04-01 2023-03-31 04167650 2023-03-31 04167650 2021-04-01 2022-03-31 04167650 2022-03-31 04167650 core:FurnitureFittings 2022-04-01 2023-03-31 04167650 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 04167650 bus:Director4 2022-04-01 2023-03-31 04167650 bus:Director6 2022-04-01 2023-03-31 04167650 bus:Director7 2022-04-01 2023-03-31 04167650 core:WithinOneYear 2023-03-31 04167650 core:WithinOneYear 2022-03-31 04167650 core:ShareCapital 2023-03-31 04167650 core:ShareCapital 2022-03-31 04167650 core:RetainedEarningsAccumulatedLosses 2023-03-31 04167650 core:RetainedEarningsAccumulatedLosses 2022-03-31 04167650 bus:SmallEntities 2022-04-01 2023-03-31 04167650 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04167650 bus:FullAccounts 2022-04-01 2023-03-31 04167650 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04167650 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 04167650

Linnells Limited

Filleted Unaudited Financial Statements

31 March 2023

Linnells Limited

Financial Statements

Year ended 31 March 2023

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Linnells Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Linnells Limited

Year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Linnells Limited for the year ended 31 March 2023, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Linnells Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Linnells Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Linnells Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Linnells 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 Linnells Limited. You consider that Linnells 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 Linnells 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.

WALTER HUNTER & CO LIMITED Chartered accountants

24 Bridge Street Newport South Wales NP20 4SF

30 October 2023

Linnells Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Current assets

Debtors	5	14,733	24,545
Cash at bank and in hand		44,889	15,947
		--------	--------
		59,622	40,492

Creditors: amounts falling due within one year	6	20,722	22,267
		--------	--------
Net current assets		38,900	18,225
		--------	--------
Total assets less current liabilities		38,900	18,225
		--------	--------
Net assets		38,900	18,225
		--------	--------

Capital and reserves

Called up share capital	78	78
Profit and loss account	38,822	18,147
	--------	--------
Shareholders funds	38,900	18,225
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Linnells Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 30 October 2023 , and are signed on behalf of the board by:

Mr T Parker	Mr M Steven
Director	Director

Mr M Tyler
Director

Company registration number: 04167650

Linnells Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gold Tops House, Pentonville, Newport, NP20 5HB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).

This includes the directors of the company.

5. Debtors

	2023	2022
	£	£
Trade debtors	14,733	19,467
Other debtors	–	5,078
	--------	--------
	14,733	24,545
	--------	--------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	420	11,867
Corporation tax	7,653	10,400
Social security and other taxes	11,188	–
Other creditors	1,461	–
	--------	--------
	20,722	22,267
	--------	--------