Registration number: 03969515

Lincombe Storage Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 6

Lincombe Storage Limited

Company Information

Director

Mr RFB Gatehouse

Registered office

Lincombe Salcombe Kingsbridge Devon TQ8 8NQ

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lincombe Storage Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lincombe Storage Limited for the year ended 28 February 2023 as set out on pages 3 to 6 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Lincombe Storage Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lincombe Storage Limited and state those matters that we have agreed to state to the Board of Directors of Lincombe Storage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lincombe Storage Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lincombe Storage Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lincombe Storage Limited. You consider that Lincombe Storage 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 accounts of Lincombe Storage 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

25 September 2023

Lincombe Storage Limited

(Registration number: 03969515)
Balance Sheet as at 28 February 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	13	17
Current assets
Debtors	5	3,488	7,683
Cash at bank and in hand		12,575	4,303
		16,063	11,986
Creditors: Amounts falling due within one year	6	(3,712)	(1,618)
Net current assets		12,351	10,368
Net assets		12,364	10,385
Capital and reserves
Called up share capital		4	4
Retained earnings		12,360	10,381
Shareholders' funds		12,364	10,385

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 September 2023
 

.........................................

Mr RFB Gatehouse

Director

Lincombe Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Lincombe
Salcombe
Kingsbridge
Devon
TQ8 8NQ

2	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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 income 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Lincombe Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

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
Plant and machinery	25% reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 March 2022	1,243	1,243
At 28 February 2023	1,243	1,243
Depreciation
At 1 March 2022	1,226	1,226
Charge for the year	4	4
At 28 February 2023	1,230	1,230
Carrying amount
At 28 February 2023	13	13
At 28 February 2022	17	17

5

Debtors

	2023 £	2022 £
Other debtors	3,488	7,683
	3,488	7,683

Lincombe Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Taxation and social security	2,764	746
Accruals and deferred income	948	872
	3,712	1,618