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REGISTERED NUMBER: 01366821 (England and Wales)















Financial Statements

For The Year Ended 31 March 2024

for

LINCOLN HOUSE (BASIL STREET) LIMITED

LINCOLN HOUSE (BASIL STREET) LIMITED (REGISTERED NUMBER: 01366821)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LINCOLN HOUSE (BASIL STREET) LIMITED

Company Information
For The Year Ended 31 March 2024







DIRECTORS: M A C Gill
J H Lorimer



SECRETARY: Broadway Secretaries Limited



REGISTERED OFFICE: One, Bartholomew Close
London
EC1A 7BL



REGISTERED NUMBER: 01366821 (England and Wales)



SENIOR STATUTORY AUDITOR: Lewis Gary Lees-Buckley F.C.A



AUDITORS: LBCo Ltd
T/A Lees-Buckley & Co
16 Northfields Prospect
Putney Bridge Road
London
SW18 1PE

LINCOLN HOUSE (BASIL STREET) LIMITED (REGISTERED NUMBER: 01366821)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 915,700 803,258

CREDITORS
Amounts falling due within one year 5 915,700 803,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-


RESERVES - -

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 25 July 2024 and were signed on its behalf by:





J H Lorimer - Director


LINCOLN HOUSE (BASIL STREET) LIMITED (REGISTERED NUMBER: 01366821)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lincoln House (Basil Street) Limited is a private company, limited by guarantee , 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 27,743 19,022
Funds held by managing agents 670,422 500,630
Prepayments 13,934 14,361
Due from lessees 203,553 252,152
Excess Service Charge Balance
Due (Note 3) 48 17,093
915,700 803,258

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 348 -
Service Charge Reserve
Fund (Note 10) 548,114 400,991
Income tax 3,056 341
Other creditors 2,249 10,333
Service charges in advance 337,487 333,237
Accrued expenses 24,446 58,356
915,700 803,258

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lewis Gary Lees-Buckley F.C.A (Senior Statutory Auditor)
for and on behalf of LBCo Ltd

7. RELATED PARTY DISCLOSURES

J H Lorimer and M A C Gill are also directors of Lincoln House Freehold Limited the company which holds, as nominee, the freehold property known as Lincoln House Basil Street SW3.

Other creditors includes £2,203 (2023 £10,287 credit) due from Lincoln House Freehold Limited.

LINCOLN HOUSE (BASIL STREET) LIMITED (REGISTERED NUMBER: 01366821)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9. LIMITED BY GUARANTEE

The company is limited by guarantee, and consequently has no share capital. The liability of each member is limited to the sum of £1 in the event that the company is wound up.

10. SERVICE CHARGE RESERVE FUND


£
Balance at 1st April 2023 400,991
Service charge deficit brought forward funded from reserves (17,093 )
Transfer from current year demands 153,161
Interest received net of tax 11,055
Balance at 31st March 2024 548,114