Links Foods Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02751899

LINKS FOODS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2021 TO 30 APRIL 2023

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

-

171,344

Investments

5

-

1,000

-

172,344

CURRENT ASSETS

Stocks

-

80,389

Debtors

6

24,851

1,235,486

Cash at bank

-

38,960

24,851

1,354,835

CREDITORS

Amounts falling due within one year

7

-

268,283

NET CURRENT ASSETS

24,851

1,086,552

TOTAL ASSETS LESS CURRENT LIABILITIES

24,851

1,258,896

CREDITORS

Amounts falling due after more than one year

8

-

(68,453

)

PROVISIONS FOR LIABILITIES

-

(18,557

)

NET ASSETS

24,851

1,171,886

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,751

1,171,786

SHAREHOLDERS' FUNDS

24,851

1,171,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:

K J Rosevere - Director

1.	STATUTORY INFORMATION

Links Foods Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number:

02751899

Registered office:

Apetito

Canal Road

Trowbridge

BA14 8RJ

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

It is intended that the company be wound up in the near future so that the going concern basis of account preparation is no longer relevant.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

Turnover 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks 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 period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only enters into basic financial instruments 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 non-puttable ordinary shares.

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 Profit and Loss Account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2021 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2021

226,831

316,935

543,766

Disposals

(226,831

)

(316,935

)

(543,766

)

At 30 April 2023

-

-

-

DEPRECIATION

At 1 November 2021

193,785

178,637

372,422

Charge for period

1,274

26,652

27,926

Eliminated on disposal

(195,059

)

(205,289

)

(400,348

)

At 30 April 2023

-

-

-

NET BOOK VALUE

At 30 April 2023

-

-

-

At 31 October 2021

33,046

138,298

171,344

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2021

150,981

Disposals

(150,981

)

At 30 April 2023

-

DEPRECIATION

At 1 November 2021

77,327

Charge for period

13,728

Eliminated on disposal

(91,055

)

At 30 April 2023

-

NET BOOK VALUE

At 30 April 2023

-

At 31 October 2021

73,654

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2021

1,000

Additions

250

Disposals

(1,250

)

At 30 April 2023

-

NET BOOK VALUE

At 30 April 2023

-

At 31 October 2021

1,000

6.

DEBTORS

2023

2021

£

£

Amounts falling due within one year:

Other debtors

24,851

31,292

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

1,204,194

Aggregate amounts

24,851

1,235,486

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2021

£

£

Hire purchase contracts (see note 9)

-

28,566

Trade creditors

-

142,528

Taxation and social security

-

84,942

Other creditors

-

12,247

-

268,283

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2021

£

£

Hire purchase contracts (see note 9)

-

68,453

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2021

£

£

Net obligations repayable:

Within one year

-

28,566

Between one and five years

-

68,453

-

97,019

Non-cancellable operating

leases

2023

2021

£

£

Within one year

-

23,800

10.	ULTIMATE CONTROLLING PARTY

Apetito Limited is regarded by the directors as being the ultimate parent company, the immediate parent company is Fairfield Capital Partners Limited.

Apetito Limited prepares financial statements and they can be obtained at the following address:

Apetito

Canal Road

Trowbridge

England

BA14 8 RJ

11.	ULTIMATE PARENT COMPANY

The ultimate parent company of Links Foods Limited is Fairfield Capital Partners Limited which is incorporated in England and Wales.

The financial statements of Fairfield Capital Partners Limited can be obtained from the following address:

Apetito

Canal Road

Trowbridge

England

BA14 8RJ

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

An unlimited composite company guarantee between the parent Fairfield Capital Partners Limited and the subsidiary company, Links Food Limited has been given to the company's bank in respect of the loan facilities.

Fairfield Capital Partners Limited is ultimately jointly controlled by Apetito.