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REGISTERED NUMBER: 08971856 (England and Wales)

















LINCS PREMIER HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 APRIL 2023






LINCS PREMIER HOMES LTD (REGISTERED NUMBER: 08971856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


LINCS PREMIER HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 APRIL 2023







DIRECTORS: Mr M A Sharpe
Mrs D Sharpe





SECRETARY: Mrs D Sharpe





REGISTERED OFFICE: Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB





BUSINESS ADDRESS: 5 Blackthorn Lane
Cherry Willingham
Lincoln
Lincolnshire
LN3 4FD





REGISTERED NUMBER: 08971856 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

LINCS PREMIER HOMES LTD (REGISTERED NUMBER: 08971856)

ABRIDGED BALANCE SHEET
29 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 111,849 109,634

CURRENT ASSETS
Inventories 1,356,552 886,600
Debtors 229,339 70,793
Cash at bank 33,096 29,495
1,618,987 986,888
CREDITORS
Amounts falling due within one year 1,768,359 731,182
NET CURRENT (LIABILITIES)/ASSETS (149,372 ) 255,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,523

)

365,340

CREDITORS
Amounts falling due after more than one year 31,943 355,987
NET (LIABILITIES)/ASSETS (69,466 ) 9,353

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (69,566 ) 9,253
(69,466 ) 9,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





Mr M A Sharpe - Director


LINCS PREMIER HOMES LTD (REGISTERED NUMBER: 08971856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2023


1. STATUTORY INFORMATION

Lincs Premier Homes Ltd 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 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
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
Computer equipment - 20% on reducing balance

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2 (2022 - 2 ) .

LINCS PREMIER HOMES LTD (REGISTERED NUMBER: 08971856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2023


4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 30 April 2022 154,348
Additions 21,235
At 29 April 2023 175,583
DEPRECIATION
At 30 April 2022 44,714
Charge for year 19,020
At 29 April 2023 63,734
NET BOOK VALUE
At 29 April 2023 111,849
At 29 April 2022 109,634

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

Totals
£   
COST
At 30 April 2022
and 29 April 2023 77,038
DEPRECIATION
At 30 April 2022 16,498
Charge for year 9,081
At 29 April 2023 25,579
NET BOOK VALUE
At 29 April 2023 51,459
At 29 April 2022 60,540

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 689,126 342,170

The bank loans are secured by way of a charge over the companies trade and assets.