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REGISTERED NUMBER: 08774616 (England and Wales)






















Financial Statements

for the Year Ended 30 June 2023

for

Lincoln Students' Union Trading Limited

Lincoln Students' Union Trading Limited (Registered number: 08774616)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lincoln Students' Union Trading Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: J A Brooks
S A Hagger
J P Lunn
H M Clarke



SECRETARY: H Millar



REGISTERED OFFICE: The Mary Stuart Student Hub
The Gateway
Ruston Way
Lincoln
LN6 7GQ



REGISTERED NUMBER: 08774616 (England and Wales)



SENIOR STATUTORY AUDITOR: Paul Colcomb FCCA



AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 297,101 211,619

CURRENT ASSETS
Stocks 58,215 41,255
Debtors 5 125,824 87,158
Cash at bank and in hand 444,884 982,676
628,923 1,111,089
CREDITORS
Amounts falling due within one year 6 483,190 679,300
NET CURRENT ASSETS 145,733 431,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

442,834

643,408

CREDITORS
Amounts falling due after more than one year 7 19,166 231,485
NET ASSETS 423,668 411,923

CAPITAL AND RESERVES
Called up share capital 9 400,001 400,001
Retained earnings 23,667 11,922
SHAREHOLDERS' FUNDS 423,668 411,923

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





J A Brooks - Director


Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Lincoln Students' Union Trading 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 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
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.
Furniture and fittings - straight line over 3 - 15 years
Computer equipment - straight line over 3 - 15 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
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 28 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Furniture
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 971,730 45,328 1,017,058
Additions 197,299 - 197,299
Disposals (295,245 ) - (295,245 )
At 30 June 2023 873,784 45,328 919,112
DEPRECIATION
At 1 July 2022 760,111 45,328 805,439
Charge for year 108,460 - 108,460
Eliminated on disposal (291,888 ) - (291,888 )
At 30 June 2023 576,683 45,328 622,011
NET BOOK VALUE
At 30 June 2023 297,101 - 297,101
At 30 June 2022 211,619 - 211,619

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,522 43,372
Other debtors 3,363 3,323
Prepayments and accrued income 69,939 40,463
125,824 87,158

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 68,753 295,900
Amounts owed to group undertakings 104,889 75,416
Social security and other taxes 10,571 24,663
Other creditors 52,509 56,258
Accruals & deferred income 236,468 217,063
483,190 679,300

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,166 29,166
Other loans - 202,319
19,166 231,485

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 131,635 132,323
Between one and five years 132,440 225,850
In more than five years 18,329 56,553
282,404 414,726

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
400,001 Ordinary £1 400,001 400,001

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

11. RELATED PARTY DISCLOSURES

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.

12. CONTROLLING PARTY

The controlling party is the University of Lincoln Students' Union, as they own 100% of the shares.

The registered office of the controlling party is:
The Mary Stuart Student Hub
The Gateway
Ruston Way
Lincoln
LN6 7GQ