Registered number
09763624
Lincoln Holdings Limited
Filleted Accounts
31 December 2023
Lincoln Holdings Limited
Registered number: 09763624
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 500,000 1,000,000
Creditors: amounts falling due within one year 4 (469,042) (469,042)
Net current liabilities (469,042) (469,042)
Total assets less current liabilities 30,958 530,958
Creditors: amounts falling due after more than one year 5 (952,536) (952,536)
Net liabilities (921,578) (421,578)
Capital and reserves
Called up share capital 120 120
Profit and loss account 6 (921,698) (421,698)
Shareholders' funds (921,578) (421,578)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ankur Prakashchandra Sutariya
Director
Approved by the board on 26 September 2024
Lincoln Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investment Property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred Taxation is provided on these gains at rates expected to apply when properties are sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 1
3 Investments 2023 2022
£
Fair value
Cost brought borward 700,000 700,000
Fair value adjustment brought borward 300,000 300,000
fairvalue adjustment -500000
At 31 December 2023 500,000 1,000,000
The Investments are shown at valuation by the directors.
4 Creditors: amounts falling due within one year 2023
£
Trade creditors 469,042
5 Creditors: amounts falling due after one year 2023
£
Directors' Loan Accounts 147,466
Other creditors 805,070
952,536
6 Distributable/Non-distributable reserves 2023 2022
£
Distributable reserves (421,663) (716,732)
Non-distributable reserves - 300,000
At 31 December 2023 (421,663) (416,732)
7 Other information
Lincoln Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
14 Goodhall Close
Stanmore
Middlesex
United Kingdom
HA7 4FR
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