2022-03-232023-03-212023-03-21false10124332LINCOLN NOTTS LIMITED2024-03-1047290iso4217:GBPxbrli:pure101243322022-03-23101243322023-03-21101243322022-03-232023-03-21101243322021-03-25101243322022-03-22101243322021-03-252022-03-2210124332bus:SmallEntities2022-03-232023-03-2110124332bus:AuditExempt-NoAccountantsReport2022-03-232023-03-2110124332bus:FullAccounts2022-03-232023-03-2110124332bus:PrivateLimitedCompanyLtd2022-03-232023-03-2110124332core:WithinOneYear2023-03-2110124332core:AfterOneYear2023-03-2110124332core:WithinOneYear2022-03-2210124332core:AfterOneYear2022-03-2210124332core:ShareCapital2023-03-2110124332core:SharePremium2023-03-2110124332core:RevaluationReserve2023-03-2110124332core:OtherReservesSubtotal2023-03-2110124332core:RetainedEarningsAccumulatedLosses2023-03-2110124332core:ShareCapital2022-03-2210124332core:SharePremium2022-03-2210124332core:RevaluationReserve2022-03-2210124332core:OtherReservesSubtotal2022-03-2210124332core:RetainedEarningsAccumulatedLosses2022-03-2210124332core:LandBuildings2023-03-2110124332core:PlantMachinery2023-03-2110124332core:Vehicles2023-03-2110124332core:FurnitureFittings2023-03-2110124332core:OfficeEquipment2023-03-2110124332core:NetGoodwill2023-03-2110124332core:IntangibleAssetsOtherThanGoodwill2023-03-2110124332core:ListedExchangeTraded2023-03-2110124332core:UnlistedNon-exchangeTraded2023-03-2110124332core:LandBuildings2022-03-2210124332core:PlantMachinery2022-03-2210124332core:Vehicles2022-03-2210124332core:FurnitureFittings2022-03-2210124332core:OfficeEquipment2022-03-2210124332core:NetGoodwill2022-03-2210124332core:IntangibleAssetsOtherThanGoodwill2022-03-2210124332core:ListedExchangeTraded2022-03-2210124332core:UnlistedNon-exchangeTraded2022-03-2210124332core:LandBuildings2022-03-232023-03-2110124332core:PlantMachinery2022-03-232023-03-2110124332core:Vehicles2022-03-232023-03-2110124332core:FurnitureFittings2022-03-232023-03-2110124332core:OfficeEquipment2022-03-232023-03-2110124332core:NetGoodwill2022-03-232023-03-2110124332core:IntangibleAssetsOtherThanGoodwill2022-03-232023-03-2110124332core:ListedExchangeTraded2022-03-232023-03-2110124332core:UnlistedNon-exchangeTraded2022-03-232023-03-2110124332core:MoreThanFiveYears2022-03-232023-03-2110124332core:Non-currentFinancialInstruments2023-03-2110124332core:Non-currentFinancialInstruments2022-03-2210124332dpl:CostSales2022-03-232023-03-2110124332dpl:DistributionCosts2022-03-232023-03-2110124332core:LandBuildings2022-03-232023-03-2110124332core:PlantMachinery2022-03-232023-03-2110124332core:Vehicles2022-03-232023-03-2110124332core:FurnitureFittings2022-03-232023-03-2110124332core:OfficeEquipment2022-03-232023-03-2110124332dpl:AdministrativeExpenses2022-03-232023-03-2110124332core:NetGoodwill2022-03-232023-03-2110124332core:IntangibleAssetsOtherThanGoodwill2022-03-232023-03-2110124332dpl:GroupUndertakings2022-03-232023-03-2110124332dpl:ParticipatingInterests2022-03-232023-03-2110124332dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-232023-03-2110124332core:ListedExchangeTraded2022-03-232023-03-2110124332dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-232023-03-2110124332core:UnlistedNon-exchangeTraded2022-03-232023-03-2110124332dpl:CostSales2021-03-252022-03-2210124332dpl:DistributionCosts2021-03-252022-03-2210124332core:LandBuildings2021-03-252022-03-2210124332core:PlantMachinery2021-03-252022-03-2210124332core:Vehicles2021-03-252022-03-2210124332core:FurnitureFittings2021-03-252022-03-2210124332core:OfficeEquipment2021-03-252022-03-2210124332dpl:AdministrativeExpenses2021-03-252022-03-2210124332core:NetGoodwill2021-03-252022-03-2210124332core:IntangibleAssetsOtherThanGoodwill2021-03-252022-03-2210124332dpl:GroupUndertakings2021-03-252022-03-2210124332dpl:ParticipatingInterests2021-03-252022-03-2210124332dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-252022-03-2210124332core:ListedExchangeTraded2021-03-252022-03-2210124332dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-252022-03-2210124332core:UnlistedNon-exchangeTraded2021-03-252022-03-2210124332core:NetGoodwill2023-03-2110124332core:IntangibleAssetsOtherThanGoodwill2023-03-2110124332core:LandBuildings2023-03-2110124332core:PlantMachinery2023-03-2110124332core:Vehicles2023-03-2110124332core:FurnitureFittings2023-03-2110124332core:OfficeEquipment2023-03-2110124332core:AfterOneYear2023-03-2110124332core:WithinOneYear2023-03-2110124332core:ListedExchangeTraded2023-03-2110124332core:UnlistedNon-exchangeTraded2023-03-2110124332core:ShareCapital2023-03-2110124332core:SharePremium2023-03-2110124332core:RevaluationReserve2023-03-2110124332core:OtherReservesSubtotal2023-03-2110124332core:RetainedEarningsAccumulatedLosses2023-03-2110124332core:NetGoodwill2022-03-2210124332core:IntangibleAssetsOtherThanGoodwill2022-03-2210124332core:LandBuildings2022-03-2210124332core:PlantMachinery2022-03-2210124332core:Vehicles2022-03-2210124332core:FurnitureFittings2022-03-2210124332core:OfficeEquipment2022-03-2210124332core:AfterOneYear2022-03-2210124332core:WithinOneYear2022-03-2210124332core:Liste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LINCOLN NOTTS LIMITED

Registered Number
10124332
(England and Wales)

Unaudited Financial Statements for the Period ended
21 March 2023

LINCOLN NOTTS LIMITED
Company Information
for the period from 23 March 2022 to 21 March 2023

Directors

PATEL, Dipak Jayanand
PATEL, Hitesh Jayanand
PATEL, Jitendra Jayanand

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

10124332 (England and Wales)
LINCOLN NOTTS LIMITED
Balance Sheet as at
21 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets619,59730,773
19,59730,773
Current assets
Stocks84,5893,755
Debtors9150,367160,725
Cash at bank and on hand44,93440,024
199,890204,504
Creditors amounts falling due within one year10(207,616)(207,265)
Net current assets (liabilities)(7,726)(2,761)
Total assets less current liabilities11,87128,012
Creditors amounts falling due after one year11(38,452)(51,771)
Net assets(26,581)(23,759)
Capital and reserves
Called up share capital100100
Profit and loss account(26,681)(23,859)
Shareholders' funds(26,581)(23,759)
The financial statements were approved and authorised for issue by the Board of Directors on 10 March 2024, and are signed on its behalf by:
PATEL, Dipak Jayanand
Director
PATEL, Hitesh Jayanand
Director
PATEL, Jitendra Jayanand
Director

Registered Company No. 10124332
LINCOLN NOTTS LIMITED
Notes to the Financial Statements
for the period ended 21 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings5
Fixtures and fittings8
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
Financial instruments Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
5.Employee information

20232022
Average number of employees during the year33
6.Property, plant and equipment

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 23 March 2248,02089,401137,421
At 21 March 2348,02089,401137,421
Depreciation and impairment
At 23 March 2248,01958,629106,648
Charge for year-11,17611,176
At 21 March 2348,01969,805117,824
Net book value
At 21 March 23119,59619,597
At 22 March 22130,77230,773
7.Directors advances, credits and guarantees
At the balance sheet date, the company owes its Directors £54,401 (2022: £54,401).
8.Stocks

2023

2022

££
Other stocks4,5893,755
Total4,5893,755
9.Debtors

2023

2022

££
Trade debtors / trade receivables1,0532,153
Amounts owed by group undertakings103,970107,132
Other debtors42,68446,752
Prepayments and accrued income2,6604,688
Total150,367160,725
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables9,03112,506
Bank borrowings and overdrafts11,56511,565
Amounts owed to related parties122,057123,429
Taxation and social security2,760-
Other creditors60,45454,401
Accrued liabilities and deferred income1,7495,364
Total207,616207,265
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts38,45251,771
Total38,45251,771