The Trade Link Company Limited - Period Ending 2018-03-31
The Trade Link Company Limited - Period Ending 2018-03-31
Company registration number:
for the Year Ended
The Trade Link Company Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
The Trade Link Company Limited
(Registration number: 02639573)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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- |
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Tangible assets |
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|
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Investment property |
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|
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Other financial assets |
4,271,294 |
4,535,783 |
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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|
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Provisions for liabilities |
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Deferred tax liabilities |
(119,840) |
(149,991) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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|
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Fair value reserve |
744,719 |
847,934 |
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Profit and loss reserve |
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Total equity |
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Page 1
The Trade Link Company Limited
(Registration number: 02639573)
Balance Sheet as at 31 March 2018
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Page 2
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 3
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation of tangible assets
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line |
Furniture, fittings and equipment |
25% straight line |
Investment property
Intangible assets
Separately acquired trademarks, patents and licences are shown at historical cost.
Trademarks, patents and licences have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents, trademarks and licences |
10% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are classified as fixed asset investments and are initially measured at fair value, with changes in fair value recognised in the profit or loss account. A transfer is then made to the fair value reserve to reflect that any such gains arising are not distributable.
Investments in equity shares that are not publicly traded are measured at cost less impairment.
Page 4
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Other short term creditors are initially measured at fair value net of transaction costs and subsequently at amortised cost.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Page 5
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 March 2018 |
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Amortisation |
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Amortisation charge |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Page 6
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Investment properties |
2018 |
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At 1 April 2017 and 31 March 2018 |
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The value of investment properties was assessed by the directors at 31 March 2018 as being equivalent to fair value. The basis of this valuation was open market value.
Deferred tax is accounted for on amounts credited and debited to the fair value reserve as detailed in the tax accounting policy.
There has been no valuation of investment property by an independent valuer.
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2017 |
4,432,489 |
103,294 |
4,535,783 |
Fair value adjustments |
(133,366) |
- |
(133,366) |
Additions |
1,027,139 |
- |
1,027,139 |
Disposals |
(1,158,262) |
- |
(1,158,262) |
At 31 March 2018 |
4,168,000 |
103,294 |
4,271,294 |
Carrying amount |
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At 31 March 2018 |
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4,271,294 |
Listed investments are held at fair value being the quoted stock exchange value.
Page 7
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Debtors |
2018 |
2017 |
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Other debtors |
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Less non-current portion |
( |
( |
Total current trade and other debtors |
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Details of non-current trade and other debtors
£61,321 (2017 -£61,321) of Other debtors is classified as non current.
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Corporation tax |
6,426 |
62,524 |
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Other creditors |
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Page 8
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Reserves reconciliation |
Fair value reserve |
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At 1 April 2017 |
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Movement in year : |
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Transfer of fair value adjustment from profit & loss |
(133,366) |
Transfer of deferred tax on fair value adjustments |
30,151 |
At 31 March 2018 |
744,719 |
Fair value reserve |
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At 1 April 2016 |
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Movement in year : |
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Transfer of fair value adjustment from profit & loss |
519,304 |
Transfer of deferred tax on fair value adjustments |
(80,625) |
At 31 March 2017 |
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Page 9
The Trade Link Company Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Related party transactions |
Transactions with directors |
2018 |
At 1 April 2017 |
Re- |
At 31 March 2018 |
W E Davis |
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Loan advance, repayable on demand |
3,703 |
( |
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2017 |
At 1 April 2016 |
Advances to directors |
At 31 March 2017 |
W E Davis |
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Loan advance, repayable on demand |
(1,498) |
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Page 10