2023-04-012024-03-312024-03-31false04605792LINCOLN MANAGEMENT (UK) LIMITED2024-09-25iso4217:GBPxbrli:pure046057922023-04-01046057922024-03-31046057922023-04-012024-03-31046057922022-04-01046057922023-03-31046057922022-04-012023-03-3104605792bus:SmallEntities2023-04-012024-03-3104605792bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3104605792bus:FullAccounts2023-04-012024-03-3104605792bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104605792core:WithinOneYear2024-03-3104605792core:AfterOneYear2024-03-3104605792core:WithinOneYear2023-03-3104605792core:AfterOneYear2023-03-3104605792core:ShareCapital2024-03-3104605792core:SharePremium2024-03-3104605792core:RevaluationReserve2024-03-3104605792core:OtherReservesSubtotal2024-03-3104605792core:RetainedEarningsAccumulatedLosses2024-03-3104605792core:ShareCapital2023-03-3104605792core:SharePremium2023-03-3104605792core:RevaluationReserve2023-03-3104605792core:OtherReservesSubtotal2023-03-3104605792core:RetainedEarningsAccumulatedLosses2023-03-3104605792core:LandBuildings2024-03-3104605792core:PlantMachinery2024-03-3104605792core:Vehicles2024-03-3104605792core:FurnitureFittings2024-03-3104605792core:OfficeEquipment2024-03-3104605792core:NetGoodwill2024-03-3104605792core:IntangibleAssetsOtherThanGoodwill2024-03-3104605792core:ListedExchangeTraded2024-03-3104605792core:UnlistedNon-exchangeTraded2024-03-3104605792core:LandBuildings2023-03-3104605792core:PlantMachinery2023-03-3104605792core:Vehicles2023-03-3104605792core:FurnitureFittings2023-03-3104605792core:OfficeEquipment2023-03-3104605792core:NetGoodwill2023-03-3104605792core:IntangibleAssetsOtherThanGoodwill2023-03-3104605792core:ListedExchangeTraded2023-03-3104605792core:UnlistedNon-exchangeTraded2023-03-3104605792core:LandBuildings2023-04-012024-03-3104605792core:PlantMachinery2023-04-012024-03-3104605792core:Vehicles2023-04-012024-03-3104605792core:FurnitureFittings2023-04-012024-03-3104605792core:OfficeEquipment2023-04-012024-03-3104605792core:NetGoodwill2023-04-012024-03-3104605792core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104605792core:ListedExchangeTraded2023-04-012024-03-3104605792core:UnlistedNon-exchangeTraded2023-04-012024-03-3104605792core:MoreThanFiveYears2023-04-012024-03-3104605792core:Non-currentFinancialInstruments2024-03-3104605792core:Non-currentFinancialInstruments2023-03-3104605792dpl:CostSales2023-04-012024-03-3104605792dpl:DistributionCosts2023-04-012024-03-3104605792core:LandBuildings2023-04-012024-03-3104605792core:PlantMachinery2023-04-012024-03-3104605792core:Vehicles2023-04-012024-03-3104605792core:FurnitureFittings2023-04-012024-03-3104605792core:OfficeEquipment2023-04-012024-03-3104605792dpl:AdministrativeExpenses2023-04-012024-03-3104605792core:NetGoodwill2023-04-012024-03-3104605792core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104605792dpl:GroupUndertakings2023-04-012024-03-3104605792dpl:ParticipatingInterests2023-04-012024-03-3104605792dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3104605792core:ListedExchangeTraded2023-04-012024-03-3104605792dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3104605792core:UnlistedNon-exchangeTraded2023-04-012024-03-3104605792dpl:CostSales2022-04-012023-03-3104605792dpl:DistributionCosts2022-04-012023-03-3104605792core:LandBuildings2022-04-012023-03-3104605792core:PlantMachinery2022-04-012023-03-3104605792core:Vehicles2022-04-012023-03-3104605792core:FurnitureFittings2022-04-012023-03-3104605792core:OfficeEquipment2022-04-012023-03-3104605792dpl:AdministrativeExpenses2022-04-012023-03-3104605792core:NetGoodwill2022-04-012023-03-3104605792core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104605792dpl:GroupUndertakings2022-04-012023-03-3104605792dpl:ParticipatingInterests2022-04-012023-03-3104605792dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3104605792core:ListedExchangeTraded2022-04-012023-03-3104605792dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3104605792core:UnlistedNon-exchangeTraded2022-04-012023-03-3104605792core:NetGoodwill2024-03-3104605792core:IntangibleAssetsOtherThanGoodwill2024-03-3104605792core:LandBuildings2024-03-3104605792core:PlantMachinery2024-03-3104605792core:Vehicles2024-03-3104605792core:FurnitureFittings2024-03-3104605792core:OfficeEquipment2024-03-3104605792core:AfterOneYear2024-03-3104605792core:WithinOneYear2024-03-3104605792core:ListedExchangeTraded2024-03-3104605792core:UnlistedNon-exchangeTraded2024-03-3104605792core:ShareCapital2024-03-3104605792core:SharePremium2024-03-3104605792core:RevaluationReserve2024-03-3104605792core:OtherReservesSubtotal2024-03-3104605792core:RetainedEarningsAccumulatedLosses2024-03-3104605792core:NetGoodwill2023-03-3104605792core:IntangibleAssetsOtherThanGoodwill2023-03-3104605792core:LandBuildings2023-03-3104605792core:PlantMachinery2023-03-3104605792core:Vehicles2023-03-3104605792core:FurnitureFittings2023-03-3104605792core:OfficeEquipment2023-03-3104605792core:AfterOneYear2023-03-3104605792core:WithinOneYear2023-03-3104605792core:ListedExch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LINCOLN MANAGEMENT (UK) LIMITED

Registered Number
04605792
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LINCOLN MANAGEMENT (UK) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Mr N D Goddard

Registered Address

George Boole House D1/D2 The Point
Weaver Road
Lincoln
LN6 3QN

Registered Number

04605792 (England and Wales)
LINCOLN MANAGEMENT (UK) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3164,849169,801
Investment property4934,553934,553
1,099,4021,104,354
Current assets
Debtors5531,284452,392
Cash at bank and on hand12,759199,256
544,043651,648
Creditors amounts falling due within one year6(534,024)(586,857)
Net current assets (liabilities)10,01964,791
Total assets less current liabilities1,109,4211,169,145
Creditors amounts falling due after one year7(404,346)(450,180)
Provisions for liabilities8(8,577)(7,370)
Net assets696,498711,595
Capital and reserves
Called up share capital1,0001,000
Profit and loss account695,498710,595
Shareholders' funds696,498711,595
The financial statements were approved and authorised for issue by the Director on 25 September 2024, and are signed on its behalf by:
Mr N D Goddard
Director
Registered Company No. 04605792
LINCOLN MANAGEMENT (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery104
Fixtures and fittings25-
Vehicles-4
Office Equipment25-
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 23192,3523,6819,99096,8123,406306,241
At 31 March 24192,3523,6819,99096,8123,406306,241
Depreciation and impairment
At 01 April 2326,2883,4589,85494,3992,441136,440
Charge for year3,8471481365802414,952
At 31 March 2430,1353,6069,99094,9792,682141,392
Net book value
At 31 March 24162,21775-1,833724164,849
At 31 March 23166,0642231362,413965169,801
4.Investment property

£
Fair value at 01 April 23934,553
At 31 March 24934,553
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables312,971434,305
Other debtors186,69515,516
Prepayments and accrued income31,6182,571
Total531,284452,392
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables55,17232,391
Bank borrowings and overdrafts45,78344,381
Taxation and social security30,36125,495
Other creditors36,76162,117
Accrued liabilities and deferred income365,947422,473
Total534,024586,857
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts404,346450,180
Total404,346450,180
Bank Borrowings A bank loan is denominated in £ with a nominal interest rate of 3.84% and the final instalment is due on 10 January 2035. The carrying amount at the year end is £388,454 (2023 - £416,934). This bank loan is secured on an investment property The bounceback loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 30 September 2030. The carrying amount at the year end is £36,762 (2023 - £41,987) The other loan is denominated in £ with a nominal interest rate of 2.18%, and the final instalment is due on 30 June 2026. The carrying amount at the year end is £24,913 (2023 - £35,640)
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,5777,370
Total8,5777,370