REGISTERED NUMBER: 06210129 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Linkx Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Hayward

D J Reilly

REGISTERED OFFICE:

Anson House

Anson Way

Ellough

Beccles

Suffolk

NR34 7TJ

REGISTERED NUMBER:

06210129 (England and Wales)

ACCOUNTANTS:

FWD Accounts Limited

7 Forbes Business Centre

Kempson Way

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Intangible assets

4

355,085

350,867

Tangible assets

5

32,333

38,734

387,418

389,601

CURRENT ASSETS

Stocks

193,997

246,376

Debtors

6

710,076

700,842

Cash at bank and in hand

440,068

92,246

1,344,141

1,039,464

CREDITORS

Amounts falling due within one year

7

1,278,581

890,334

NET CURRENT ASSETS

65,560

149,130

TOTAL ASSETS LESS CURRENT LIABILITIES

452,978

538,731

CREDITORS

Amounts falling due after more than one year

8

149,763

467,691

NET ASSETS

303,215

71,040

CAPITAL AND RESERVES

Called up share capital

10

200

200

Retained earnings

11

303,015

70,840

SHAREHOLDERS' FUNDS

303,215

71,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 June 2018 and were signed on its behalf by:

D J Reilly - Director

D S Hayward - Director

1.	STATUTORY INFORMATION

Linkx Systems 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.

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.

Turnover

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

value added tax and other sales taxes.

Research and development costs

Development costs have been capitalised and are being amortised over the useful life of 5 years on a straight

line basis.

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.

Short leasehold

-

15% on cost

Plant and machinery

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2017 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 May 2017

1,385,726

Additions

179,455

At 30 April 2018

1,565,181

AMORTISATION

At 1 May 2017

1,034,859

Amortisation for year

175,237

At 30 April 2018

1,210,096

NET BOOK VALUE

At 30 April 2018

355,085

At 30 April 2017

350,867

Intangible assets represent research and development design costs. These designs have now been crystallised

into products that are selling and these sales will represent significant returns on the capital employed and costs

capitalised to date.

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 May 2017

5,118

103,361

45,081

153,560

Additions

-

6,417

-

6,417

Disposals

-

-

(15,200

)

(15,200

)

At 30 April 2018

5,118

109,778

29,881

144,777

DEPRECIATION

At 1 May 2017

1,364

86,151

27,311

114,826

Charge for year

341

4,993

3,160

8,494

Eliminated on disposal

-

-

(10,876

)

(10,876

)

At 30 April 2018

1,705

91,144

19,595

112,444

NET BOOK VALUE

At 30 April 2018

3,413

18,634

10,286

32,333

At 30 April 2017

3,754

17,210

17,770

38,734

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

Motor

vehicles

£

COST

At 1 May 2017

and 30 April 2018

29,881

DEPRECIATION

At 1 May 2017

and 30 April 2018

11,954

NET BOOK VALUE

At 30 April 2018

17,927

At 30 April 2017

17,927

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/18

30/4/17

£

£

Trade debtors

211,202

171,607

Amounts recoverable on contract

415,943

258,899

Other debtors

-

158,174

Directors' current accounts

-

24,056

Tax

7,323

28,493

Deferred tax asset

33,179

31,434

Prepayments

42,429

28,179

710,076

700,842

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/18

30/4/17

£

£

Bank loans and overdrafts

66,739

203,805

Hire purchase contracts

1,133

1,133

Payments on account

600,457

91,218

Trade creditors

334,263

400,485

Tax

5,089

5,089

Social security and other taxes

24,022

50,650

VAT

144,780

41,536

Other creditors

2,357

6,271

Directors' current accounts

-

2,135

Accrued expenses

99,741

88,012

1,278,581

890,334

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/4/18

30/4/17

£

£

Bank loans - 1-2 years

66,739

156,250

Bank loans - 2-5 years

80,081

305,997

Hire purchase contracts

2,943

5,444

149,763

467,691

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/4/18

30/4/17

£

£

Bank loans

213,559

666,052

Hire purchase contracts

4,076

6,577

217,635

672,629

By means of a personal guarantee given by the directors.

HP and finance lease creditors are secured on the assets to which they relate

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/18

30/4/17

value:

£

£

200

Ordinary

£1

200

200

11.

RESERVES

Retained

earnings

£

At 1 May 2017

70,840

Profit for the year

336,175

Dividends

(104,000

)

At 30 April 2018

303,015

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2018 and

30 April 2017:

30/4/18

30/4/17

£

£

D S Hayward

Balance outstanding at start of year

24,056

8,398

Amounts advanced

-

40,739

Amounts repaid

(24,056

)

(25,081

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

24,056

13.	ULTIMATE CONTROLLING PARTY

Mr D Hayward and Mr D Reilly are deemed to be the ultimate controlling parties by virtue of their shareholdings.