Linnodee Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI033768 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31st March 2018

for

LINNODEE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs L M McCalmont

E A Reddicliffe

SECRETARY:

Mrs L M McCalmont

REGISTERED OFFICE:

Oakmount

Holestone Road

Ballyclare

BT39 0TJ

REGISTERED NUMBER:

NI033768 (Northern Ireland)

ACCOUNTANTS:

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon CR0 0YN

FIXED ASSETS

Property, plant and equipment

4

92,677

110,434

CURRENT ASSETS

Inventories

30,613

25,776

Debtors

5

120,570

28,996

Cash at bank

158,069

229,147

309,252

283,919

CREDITORS

Amounts falling due within one year

6

172,764

180,263

NET CURRENT ASSETS

136,488

103,656

TOTAL ASSETS LESS CURRENT LIABILITIES

229,165

214,090

CREDITORS

Amounts falling due after more than one year

7

44,231

52,858

NET ASSETS

184,934

161,232

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

169,934

146,232

SHAREHOLDERS' FUNDS

184,934

161,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30th June 2018 and were signed on its behalf by:

Mrs L M McCalmont - Director

1.	STATUTORY INFORMATION

Linnodee Limited is a private company, limited by shares , registered in Northern Ireland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company continues to trade profitability and is expected to keep generating positive cash flows for the

foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in

preparing the annual financial statements.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less any accumulated depreciation.

Historical costs include expenditure that is directly attributable to bringing the asset to the location and

condition necessary for it to be capable of operating in the manner intended by management.

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

life.

Improvements to property - 2% on cost

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are

recognised in the statement of comprehensive income.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st April 2017

63,436

81,113

4,799

70,950

220,298

Additions

-

1,295

-

-

1,295

At 31st March 2018

63,436

82,408

4,799

70,950

221,593

DEPRECIATION

At 1st April 2017

22,841

73,231

4,167

9,625

109,864

Charge for year

1,269

2,294

158

15,331

19,052

At 31st March 2018

24,110

75,525

4,325

24,956

128,916

NET BOOK VALUE

At 31st March 2018

39,326

6,883

474

45,994

92,677

At 31st March 2017

40,595

7,882

632

61,325

110,434

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

35,658

19,601

Amounts owed by group undertakings

79,215

-

Prepayments and accrued income

5,697

9,395

120,570

28,996

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

8,627

8,627

Trade creditors

3,494

1,128

Amounts owed to group undertakings

-

88,500

Tax

8,458

5,128

VAT

107

4,301

Accrued expenses

152,078

72,579

172,764

180,263

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

44,231

52,858

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Giltspur Scientific 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 Statement of Comprehensive Income 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 Linnodee Limited for the year ended 31st March 2018 which comprise the Statement of Income

and Retained Earnings, 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 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 Linnodee 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 Linnodee Limited and state those matters that we have agreed to state to the Board of Directors of Linnodee 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 Linnodee Limited and its Board of Directors, as a body, for our work or for this report.

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

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon CR0 0YN

26th July 2018