Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-302023-08-30No description of principal activity2022-09-01false2827falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11520846 2022-09-01 2023-08-30 11520846 2021-09-01 2022-08-31 11520846 2023-08-30 11520846 2022-08-31 11520846 2021-09-01 11520846 c:Director2 2022-09-01 2023-08-30 11520846 c:Director3 2022-09-01 2023-08-30 11520846 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-30 11520846 d:Buildings d:ShortLeaseholdAssets 2023-08-30 11520846 d:Buildings d:ShortLeaseholdAssets 2022-08-31 11520846 d:LandBuildings 2023-08-30 11520846 d:LandBuildings 2022-08-31 11520846 d:PlantMachinery 2022-09-01 2023-08-30 11520846 d:PlantMachinery 2023-08-30 11520846 d:PlantMachinery 2022-08-31 11520846 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-30 11520846 d:FurnitureFittings 2022-09-01 2023-08-30 11520846 d:FurnitureFittings 2023-08-30 11520846 d:FurnitureFittings 2022-08-31 11520846 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-30 11520846 d:OfficeEquipment 2022-09-01 2023-08-30 11520846 d:OfficeEquipment 2023-08-30 11520846 d:OfficeEquipment 2022-08-31 11520846 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-30 11520846 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-30 11520846 d:CurrentFinancialInstruments 2023-08-30 11520846 d:CurrentFinancialInstruments 2022-08-31 11520846 d:Non-currentFinancialInstruments 2023-08-30 11520846 d:Non-currentFinancialInstruments 2022-08-31 11520846 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-30 11520846 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11520846 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-30 11520846 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11520846 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-30 11520846 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 11520846 d:ShareCapital 2022-09-01 2023-08-30 11520846 d:ShareCapital 2023-08-30 11520846 d:ShareCapital 2021-09-01 2022-08-31 11520846 d:ShareCapital 2022-08-31 11520846 d:ShareCapital 2021-09-01 11520846 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-30 11520846 d:RetainedEarningsAccumulatedLosses 2023-08-30 11520846 d:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 11520846 d:RetainedEarningsAccumulatedLosses 2022-08-31 11520846 d:RetainedEarningsAccumulatedLosses 2021-09-01 11520846 d:AcceleratedTaxDepreciationDeferredTax 2023-08-30 11520846 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 11520846 c:FRS102 2022-09-01 2023-08-30 11520846 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-30 11520846 c:FullAccounts 2022-09-01 2023-08-30 11520846 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-30 11520846 7 2022-09-01 2023-08-30 iso4217:GBP xbrli:pure

Registered number: 11520846









TEN LINCOLN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 AUGUST 2023

 
TEN LINCOLN LIMITED
REGISTERED NUMBER: 11520846

BALANCE SHEET
AS AT 30 AUGUST 2023

30 August
31 August
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
224,133
111,430

  
224,133
111,430

Current assets
  

Stocks
 5 
34,408
33,629

Debtors: amounts falling due within one year
 6 
183,730
188,017

Cash at bank and in hand
 7 
15,353
219,623

  
233,491
441,269

Creditors: amounts falling due within one year
 8 
(258,876)
(502,803)

Net current liabilities
  
 
 
(25,385)
 
 
(61,534)

Total assets less current liabilities
  
198,748
49,896

Creditors: amounts falling due after more than one year
 9 
(28,271)
(38,179)

Provisions for liabilities
  

Deferred tax
 11 
(22,248)
(7,071)

  
 
 
(22,248)
 
 
(7,071)

Net assets
  
148,229
4,646


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
148,129
4,546

  
148,229
4,646


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
TEN LINCOLN LIMITED
REGISTERED NUMBER: 11520846
    
BALANCE SHEET (CONTINUED)
AS AT 30 AUGUST 2023


The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Neha Beriwala
................................................
Rohit Ghai
Director
Director


Date: 15 March 2024

The notes on pages 5 to 14 form part of these financial statements.

Page 2

 
TEN LINCOLN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2022
100
4,546
4,646


Comprehensive income for the period

Profit for the period

-
243,583
243,583


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
243,583
243,583


Contributions by and distributions to owners

Dividends: Equity capital
-
(100,000)
(100,000)


Total transactions with owners
-
(100,000)
(100,000)


At 30 August 2023
100
148,129
148,229


The notes on pages 5 to 14 form part of these financial statements.

Page 3

 
TEN LINCOLN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2021
100
(712,608)
(712,508)


Comprehensive income for the year

Profit for the year

-
717,154
717,154


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
717,154
717,154


Total transactions with owners
-
-
-


At 31 August 2022
100
4,546
4,646


The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

1.


General information

Ten Lincoln Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 11520846
Registered office: 16 Second Floor, Beauchamp Place, London, England, SW3 1NQ 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 6

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Plant and machinery
-
28%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

2.Accounting policies (continued)

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2023
        2022
            No.
            No.







Director
2
2



Staff
26
25

28
27

Page 9

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

4.


Tangible fixed assets







Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
118,107
27,414
53,113
22,701
221,335


Additions
45,875
72,919
30,746
4,332
153,872


Disposals
-
-
(4,000)
-
(4,000)



At 30 August 2023

163,982
100,333
79,859
27,033
371,207



Depreciation


At 1 September 2022
43,891
12,044
37,024
16,946
109,905


Charge for the period on owned assets
13,050
8,902
11,974
4,905
38,831


Disposals
-
-
(1,662)
-
(1,662)



At 30 August 2023

56,941
20,946
47,336
21,851
147,074



Net book value



At 30 August 2023
107,041
79,387
32,523
5,182
224,133



At 31 August 2022
74,216
15,370
16,089
5,755
111,430




The net book value of land and buildings may be further analysed as follows:


30 August
31 August
2023
2022
£
£

Short leasehold
107,041
74,216

107,041
74,216


Page 10

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

5.


Stocks

30 August
31 August
2023
2022
£
£

Raw materials and consumables
3,813
4,954

Finished goods and goods for resale
30,595
28,675

34,408
33,629



6.


Debtors

30 August
31 August
2023
2022
£
£


Trade debtors
5,588
7,057

Amounts owed by group undertakings
77,631
80,426

Other debtors
80,000
80,000

Prepayments and accrued income
20,511
20,534

183,730
188,017



7.


Cash and cash equivalents

30 August
31 August
2023
2022
£
£

Cash at bank and in hand
15,353
219,623

15,353
219,623


Page 11

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

8.


Creditors: Amounts falling due within one year

30 August
31 August
2023
2022
£
£

Bank loans
9,808
9,466

Other loans
-
192,330

Trade creditors
90,643
52,779

Corporation tax
40,405
-

Other taxation and social security
60,843
75,401

Other creditors
4,578
103,394

Accruals and deferred income
52,599
69,433

258,876
502,803



9.


Creditors: Amounts falling due after more than one year

30 August
31 August
2023
2022
£
£

Bank loans
28,271
38,179

28,271
38,179


Page 12

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

10.


Loans


Analysis of the maturity of loans is given below:


30 August
31 August
2023
2022
£
£

Amounts falling due within one year

Bank loans
9,808
9,466

Other loans
-
192,330


9,808
201,796


Amounts falling due 2-5 years

Bank loans
28,271
38,179


28,271
38,179


38,079
239,975



11.


Deferred taxation






2023


£






At beginning of year
(7,071)


Charged to profit or loss
(15,177)



At end of year
(22,248)

The provision for deferred taxation is made up as follows:

30 August
31 August
2023
2022
£
£


Accelerated capital allowances
(22,248)
(7,071)

(22,248)
(7,071)

Page 13

 
TEN LINCOLN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,991 (2022: £6,579).
Contributions totalling £1,520 (2022: £1,382) were payable to the fund at the reporting date

 
Page 14