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Registration number: 13510536

Lincolnshire Pond Plants Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Lincolnshire Pond Plants Management Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Lincolnshire Pond Plants Management Limited

(Registration number: 13510536)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

578,910

582,910

Investments

5

1,000

1,000

 

579,910

583,910

Current assets

 

Debtors

6

3,803

455

Cash at bank and in hand

 

489

-

 

4,292

455

Creditors: Amounts falling due within one year

7

(16,089)

(104,276)

Net current liabilities

 

(11,797)

(103,821)

Total assets less current liabilities

 

568,113

480,089

Creditors: Amounts falling due after more than one year

7

(460,000)

(460,000)

Net assets

 

108,113

20,089

Capital and reserves

 

Called up share capital

8

2,000

2,000

Retained earnings

106,113

18,089

Shareholders' funds

 

108,113

20,089

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

 

Lincolnshire Pond Plants Management Limited

(Registration number: 13510536)
Balance Sheet as at 31 December 2023

.........................................
D Reynolds
Director

.........................................
K Reynolds
Director

.........................................
D Fisher
Director

 

Lincolnshire Pond Plants Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and the company registration number is 13510536.

The address of its registered office is:
Building 139e
Brookenby Business Park
Brookenby
LN8 6HF

These financial statements were authorised for issue by the Board on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lincolnshire Pond Plants Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

50 years

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2022 - 3).

 

Lincolnshire Pond Plants Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

586,910

586,910

At 31 December 2023

586,910

586,910

Depreciation

At 1 January 2023

4,000

4,000

Charge for the year

4,000

4,000

At 31 December 2023

8,000

8,000

Carrying amount

At 31 December 2023

578,910

578,910

At 31 December 2022

582,910

582,910

Included within the net book value of land and buildings above is £578,910 (2022 - £582,910) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,000

Provision

Carrying amount

At 31 December 2023

1,000

At 31 December 2022

1,000

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

455

Amounts owed by related parties

11

2,650

-

Other debtors

 

1,153

-

   

3,803

455

 

Lincolnshire Pond Plants Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

11

-

98,951

Taxation and social security

 

1,594

1,962

Accruals and deferred income

 

3,855

3,084

Other creditors

 

10,640

279

 

16,089

104,276

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

460,000

460,000

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £460,000. (2022 - £460,000)

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

1,010

1,010

1,010

1,010

Ordinary B shares of £1 each

400

400

400

400

Ordinary C shares of £1 each

100

100

100

100

Ordinary D shares of £1 each

490

490

490

490

 

2,000

2,000

2,000

2,000

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

460,000

460,000

 

Lincolnshire Pond Plants Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are contingencies of £460,000 (2022 - £460,000). Borrowings are secured by a cross guarantee from Lincolnshire Pond Plants Limited.

11

Related party transactions

Transactions with Directors

2023

At 1 January 2023
£

Advances to Director
£

Repayments by Director
£

At 31 December 2023
£

Loan to the directors - (the official rate of interest is charged on advances of more than £10,000)

-

23,422

(22,560)

862