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REGISTERED NUMBER: 11866514 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Illsley Holdings (Lincoln) Limited

Illsley Holdings (Lincoln) Limited (Registered number: 11866514)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Illsley Holdings (Lincoln) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C P Illsley
Mrs J K Illsley
J J Illsley





REGISTERED OFFICE: Jubilee House
11-13 Whisby Way
Lincoln
Lincolnshire
LN6 3LQ





REGISTERED NUMBER: 11866514 (England and Wales)





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

Illsley Holdings (Lincoln) Limited (Registered number: 11866514)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,908,485 1,908,485
Investment property 5 763,904 763,904
2,672,389 2,672,389

CURRENT ASSETS
Debtors 6 13,573 55,744
Cash at bank 882,206 435,263
895,779 491,007
CREDITORS
Amounts falling due within one year 7 255,853 89,562
NET CURRENT ASSETS 639,926 401,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,312,315

3,073,834

CREDITORS
Amounts falling due after more than one
year

8

1,926,587

2,864,244
NET ASSETS 1,385,728 209,590

CAPITAL AND RESERVES
Called up share capital 10 500 500
Retained earnings 1,385,228 209,090
SHAREHOLDERS' FUNDS 1,385,728 209,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 6 March 2024 and were signed on its behalf by:





C P Illsley - Director


Illsley Holdings (Lincoln) Limited (Registered number: 11866514)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Illsley Holdings (Lincoln) 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,908,485
NET BOOK VALUE
At 31 December 2023 1,908,485
At 31 December 2022 1,908,485

Illsley Holdings (Lincoln) Limited (Registered number: 11866514)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 763,904
NET BOOK VALUE
At 31 December 2023 763,904
At 31 December 2022 763,904

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 13,573 55,744

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 212,725 71,890
Taxation and social security 17,046 15,597
Other creditors 26,082 2,075
255,853 89,562

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 212,732
Amounts owed to group undertakings 1,926,587 2,651,512
1,926,587 2,864,244

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 212,725 284,622

The bank loans are secured over the Investment Property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500 Ordinary £1 500 500

Illsley Holdings (Lincoln) Limited (Registered number: 11866514)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
C P Illsley
Balance outstanding at start of year (47,279 ) (16,510 )
Amounts advanced 262,505 137,091
Amounts repaid (203,311 ) (167,860 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,915 (47,279 )

Mrs J K Illsley
Balance outstanding at start of year (7,966 ) 29,837
Amounts advanced 290,900 90,900
Amounts repaid (271,018 ) (128,703 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,916 (7,966 )

J J Illsley
Balance outstanding at start of year - 53,331
Amounts advanced 105,844 89,900
Amounts repaid (105,844 ) (143,231 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -