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Company Registration No. 10841531 (England and Wales)
Lincolnshire Drylining Limited Unaudited accounts for the year ended 30 June 2023
Lincolnshire Drylining Limited Unaudited accounts Contents
Page
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Lincolnshire Drylining Limited Company Information for the year ended 30 June 2023
Director
Lisa Walker
Company Number
10841531 (England and Wales)
Registered Office
97 Bunkers Hill Lincoln Lincolnshire LN2 4QT United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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Lincolnshire Drylining Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
117,321 
82,551 
Current assets
Debtors
29,494 
54,947 
Cash at bank and in hand
23,554 
64,663 
53,048 
119,610 
Creditors: amounts falling due within one year
(37,174)
(37,063)
Net current assets
15,874 
82,547 
Total assets less current liabilities
133,195 
165,098 
Creditors: amounts falling due after more than one year
(74,968)
(126,469)
Provisions for liabilities
Deferred tax
(18,163)
(10,579)
Net assets
40,064 
28,050 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
39,964 
27,950 
Shareholders' funds
40,064 
28,050 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2023 and were signed on its behalf by
Lisa Walker Director Company Registration No. 10841531
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Lincolnshire Drylining Limited is a private company, limited by shares, registered in England and Wales, registration number 10841531. The registered office is 97 Bunkers Hill, Lincoln, Lincolnshire, LN2 4QT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
11,657 
123,523 
135,180 
Additions
64,100 
- 
64,100 
At 30 June 2023
75,757 
123,523 
199,280 
Depreciation
At 1 July 2022
6,438 
46,191 
52,629 
Charge for the year
13,864 
15,466 
29,330 
At 30 June 2023
20,302 
61,657 
81,959 
Net book value
At 30 June 2023
55,455 
61,866 
117,321 
At 30 June 2022
5,219 
77,332 
82,551 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
41,647 
48,620 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,198 
9,764 
Trade debtors
- 
36,557 
Other debtors
28,296 
8,626 
29,494 
54,947 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
Obligations under finance leases and hire purchase contracts
8,975 
8,975 
Trade creditors
- 
21,209 
Taxes and social security
395 
109 
Loans from directors
21,054 
20 
Accruals
750 
750 
37,174 
37,063 
A BB Loan of some £30,000 secured by way of a government guarantee is in place. £30,000 term of 5yrs. £30,000 divided by 5yrs = £6,000 due within 12mths included in current liabilities
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,000 
18,376 
Obligations under finance leases and hire purchase contracts
32,672 
39,645 
Other creditors
- 
59,822 
Deferred income
28,296 
8,626 
74,968 
126,469 
A BB Loan of £30,000 term 5yrs less £6,000 due year 1. 28 months liability remaining after 12 months Yr 2. £6,000 Yr 3. £6,000 Yr 4. £2,000
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
18,163 
10,579 
2023 
2022 
£ 
£ 
Provision at start of year
10,579 
5,059 
Charged to the profit and loss account
7,584 
5,520 
Provision at end of year
18,163 
10,579 
Deferred taxation is due to accelerated capital allowances of some £18,163 to date. These reserves will reverse in future periods and create a tax liability at the prevailing rate on the day.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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