Links Foods Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02751899 (England and Wales)

LINKS FOODS LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

J S Sohal

G S Kalirai

REGISTERED OFFICE:

71

Knowl Piece

Wilbury Way

Hitchin

Herts

SG4 0TY

REGISTERED NUMBER:

02751899 (England and Wales)

ACCOUNTANTS:

Jones Hunt

Chartered Certified Accountants and

Chartered Tax Advisers

71 Knowl Piece

Wilbury Way

Hitchin

Herts

SG4 0TY

FIXED ASSETS

Tangible assets

4

183,775

202,306

CURRENT ASSETS

Stocks

59,536

51,202

Debtors

5

1,230,434

1,256,816

Cash at bank and in hand

166,975

133,981

1,456,945

1,441,999

CREDITORS

Amounts falling due within one year

199,936

190,854

NET CURRENT ASSETS

1,257,009

1,251,145

TOTAL ASSETS LESS CURRENT LIABILITIES

1,440,784

1,453,451

CREDITORS

Amounts falling due after more than one year

(61,279

)

(48,317

)

PROVISIONS FOR LIABILITIES

(22,433

)

(29,168

)

NET ASSETS

1,357,072

1,375,966

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,356,972

1,375,866

SHAREHOLDERS' FUNDS

1,357,072

1,375,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2017 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 19th July 2018 and were signed on its behalf by:

G S Kalirai - Director

J S Sohal - Director

1.	STATUTORY INFORMATION

Links Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

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 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.

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.

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 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 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2016

454,253

Additions

60,933

Disposals

(60,251

)

At 31st October 2017

454,935

DEPRECIATION

At 1st November 2016

251,947

Charge for year

46,206

Eliminated on disposal

(26,993

)

At 31st October 2017

271,160

NET BOOK VALUE

At 31st October 2017

183,775

At 31st October 2016

202,306

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

Totals

£

COST

At 1st November 2016

79,811

Additions

60,250

Disposals

(39,641

)

Reclassification/transfer

17,910

At 31st October 2017

118,330

DEPRECIATION

At 1st November 2016

7,659

Charge for year

24,587

Eliminated on disposal

(9,562

)

Reclassification/transfer

373

At 31st October 2017

23,057

NET BOOK VALUE

At 31st October 2017

95,273

At 31st October 2016

72,152

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

1,205,394

1,229,194

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

24,038

15,809

Between one and five years

61,279

48,317

85,317

64,126

Non-cancellable operating

leases

2017

2016

£

£

Within one year

23,800

23,800

7.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by J S Sohal and G S Kalarai.

8.	ULTIMATE PARENT COMPANY

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

and Wales.

The parent company, Fairfield Capital Partners Limited has not prepared group accounts as it is exempted from the

requirement to do so by Section 398 of the Companies Act 2006. The company meets the qualifying conditions for a small

sized group as laid down in section 398 of the Act.

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 J S Sohal and G S Kalarai.

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 Balance Sheet.

Readers are cautioned that the Abridged Income Statement 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 Links Foods Limited for the year ended 31st October 2017 which comprise the Abridged Income Statement, Abridged

Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Links Foods 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 Links Foods Limited and state those matters that we have agreed to state to the Board of Directors of Links Foods Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Links Foods 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 Links Foods Limited. You consider that Links Foods 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 Links Foods 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.

Jones Hunt

Chartered Certified Accountants and

Chartered Tax Advisers

71 Knowl Piece

Wilbury Way

Hitchin

Herts

SG4 0TY

19th July 2018