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REGISTERED NUMBER: 03723979 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

London & Lincoln Properties Limited

London & Lincoln Properties Limited (Registered number: 03723979)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


London & Lincoln Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J F Dean
G W Tindley





SECRETARY: Mrs P Cucksey





REGISTERED OFFICE: The Estate Office
East Mere
Bracebridge Heath
Lincoln
Lincolnshire
LN4 2HU





REGISTERED NUMBER: 03723979 (England and Wales)





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

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
London & Lincoln Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of London & Lincoln Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of London & Lincoln Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London & Lincoln Properties Limited and state those matters that we have agreed to state to the Board of Directors of London & Lincoln Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London & Lincoln Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that London & Lincoln Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of London & Lincoln Properties Limited. You consider that London & Lincoln Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of London & Lincoln Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






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


26 July 2024

London & Lincoln Properties Limited (Registered number: 03723979)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,375,000 1,375,000

CURRENT ASSETS
Debtors 5 653 -
Investments 6 423,157 380,792
Cash at bank 143,835 111,383
567,645 492,175
CREDITORS
Amounts falling due within one year 7 57,463 58,684
NET CURRENT ASSETS 510,182 433,491
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,885,182

1,808,491

PROVISIONS FOR LIABILITIES 16,020 16,020
NET ASSETS 1,869,162 1,792,471

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earning -
undistributable reserves 103,980 103,980
Retained earnings 1,765,180 1,688,489
SHAREHOLDERS' FUNDS 1,869,162 1,792,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 26 July 2024 and were signed on its behalf by:





J F Dean - Director


London & Lincoln Properties Limited (Registered number: 03723979)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

London & Lincoln Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents and service charges levied for the financial period, net of value added tax.

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.

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Current asset investments
Current asset investments are shown at market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

London & Lincoln Properties Limited (Registered number: 03723979)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,375,000
NET BOOK VALUE
At 31 March 2024 1,375,000
At 31 March 2023 1,375,000

Cost or valuation at 31 March 2024 is represented by:



Totals
£

Valuation 2004 - 2008 742,052
Valuation 2009 - 2013 (733,643 )
Valuation 2014 - 2022 (194,355 )
Valuation 2023 - 2024 12,064
Cost 1,548,882
1,375,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 1,548,882 1,555,418

The properties were valued by the Company's' directors, who are members of RICS, on an open market value basis at 31 March 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 503 -
Other debtors 150 -
653 -

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 423,157 380,792

The book cost of listed investments at 31 March 2024 - £373,776 (2023: £376,635).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19 4
Taxation and social security 18,199 18,499
Other creditors 39,245 40,181
57,463 58,684

London & Lincoln Properties Limited (Registered number: 03723979)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2