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REGISTERED NUMBER: 13393687 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2023

for

Student Tribe (Lincoln) Limited

Student Tribe (Lincoln) Limited (Registered number: 13393687)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Student Tribe (Lincoln) Limited

Company Information
for the Year Ended 30th June 2023







DIRECTOR: C N F MacInnes





REGISTERED OFFICE: 34-35 Clarges Street
Mayfair
London
W1J 7EJ





REGISTERED NUMBER: 13393687 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Student Tribe (Lincoln) Limited (Registered number: 13393687)

Balance Sheet
30th June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 63,962 60,872
Investment property 5 5,300,944 3,742,131
5,364,906 3,803,003

CURRENT ASSETS
Debtors 6 1,194 17,750
Prepayments and accrued income 9,834 9,253
Cash at bank 29,545 7,928
40,573 34,931
CREDITORS
Amounts falling due within one year 7 3,070,735 2,180,193
NET CURRENT LIABILITIES (3,030,162 ) (2,145,262 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,334,744 1,657,741

CREDITORS
Amounts falling due after more than one year 8 (2,454,000 ) (1,665,900 )

ACCRUALS AND DEFERRED INCOME (28,195 ) (65,322 )
NET LIABILITIES (147,451 ) (73,481 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (147,452 ) (73,482 )
SHAREHOLDERS' FUNDS (147,451 ) (73,481 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 11th March 2024 and were signed by:




C N F MacInnes - Director


Student Tribe (Lincoln) Limited (Registered number: 13393687)

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

1. STATUTORY INFORMATION

Student Tribe (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Transaction costs are amortised evenly over the life of the transaction.

Investment property
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised through profit or loss as other operating income.

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.

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.

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 know amounts of cash with insignificant risk of change in value.

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.

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.


Student Tribe (Lincoln) Limited (Registered number: 13393687)

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

2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st July 2022 71,614
Additions 20,895
At 30th June 2023 92,509
AMORTISATION
At 1st July 2022 10,742
Charge for year 17,805
At 30th June 2023 28,547
NET BOOK VALUE
At 30th June 2023 63,962
At 30th June 2022 60,872

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022 3,742,131
Additions 1,558,813
At 30th June 2023 5,300,944
NET BOOK VALUE
At 30th June 2023 5,300,944
At 30th June 2022 3,742,131

Investment property was valued by Calum MacInnes on 12 October 2023. The valuation takes future market rate rental income figures into account.

******If investment property had not been revalued it would have been held at historical cost less accumulated depreciation of £5,300,944.******

Student Tribe (Lincoln) Limited (Registered number: 13393687)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 1,050 2,500
Other debtors 144 15,250
1,194 17,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade creditors 49,362 5,260
Other creditors 3,001,716 2,165,524
Deposits 3,300 3,506
Rent in advance 16,357 5,903
3,070,735 2,180,193

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/06/22
£   
Creditors: amounts falling due after more than one year, less than five years2,454,000
Creditors: amounts falling due after more than five years -
2,454,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Mortgages 2,454,000 1,665,900

Amounts included within non-current creditors relate to mortgages secured against the Investment Properties held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
1 Ordinary 1 1 1

Student Tribe (Lincoln) Limited (Registered number: 13393687)

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

11. RELATED PARTY DISCLOSURES

Student Tribe Management Company Ltd is a related party of Student Tribe Investment Company Ltd because Calum MacInnes is a director of each company..

During the period, Student Tribe Management Company Ltd invoiced the company for services to the value of £107,147 (2022 - £94,535). At the balance sheet date £1,920 (2022 - £496) remained outstanding.

Student Tribe Investment Company Ltd owns 100% of the share capital of Student Tribe (Lincoln) Ltd. At the balance sheet date, included in other creditors, Student Tribe Investment Company Ltd were owed £3,001,716 (2022 - £2,165,524) in respect of monies lent and expenses paid on the company's behalf. Student Tribe Investment Company Ltd invoiced the company for reimbursed expenses to the value of £3,001 (2022 - £3,377) of which £nil (2022 - £nil) remained outstanding at the balance sheet date.

All of the above transactions were at arm's length.