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REGISTERED NUMBER: 05397220 (England and Wales)















LINCS ELECTRICAL SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024






LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


LINCS ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: P Connor-West
J Burchell





SECRETARY: E K Connor-West





REGISTERED OFFICE: 14 - 16 Wellowgate
Grimsby
N E. Lincolnshire
DN32 0RA





REGISTERED NUMBER: 05397220 (England and Wales)

LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)

BALANCE SHEET
30TH APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,678 88,450

CURRENT ASSETS
Stocks 5 46,101 159,799
Debtors 6 911,452 951,560
Cash at bank and in hand 1,461,235 960,513
2,418,788 2,071,872
CREDITORS
Amounts falling due within one year 7 988,898 958,976
NET CURRENT ASSETS 1,429,890 1,112,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,506,568

1,201,346

CREDITORS
Amounts falling due after more than one year 8 (3,121 ) (15,606 )

PROVISIONS FOR LIABILITIES (19,170 ) (16,806 )
NET ASSETS 1,484,277 1,168,934

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,484,177 1,168,834
SHAREHOLDERS' FUNDS 1,484,277 1,168,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)

BALANCE SHEET - continued
30TH APRIL 2024


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 9th September 2024 and were signed on its behalf by:




J Burchell - Director



P Connor-West - Director


LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Lincs Electrical Services 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.

Turnover
Turnover represents net invoiced services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tools and equipment - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 44 ) .

LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Tools and and Motor Office
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 25,897 61,611 228,235 80,774 396,517
Additions 8,250 - - 5,230 13,480
At 30th April 2024 34,147 61,611 228,235 86,004 409,997
DEPRECIATION
At 1st May 2023 22,018 61,611 182,759 41,679 308,067
Charge for year 1,597 - 16,721 6,934 25,252
At 30th April 2024 23,615 61,611 199,480 48,613 333,319
NET BOOK VALUE
At 30th April 2024 10,532 - 28,755 37,391 76,678
At 30th April 2023 3,879 - 45,476 39,095 88,450

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st May 2023
and 30th April 2024 53,837
DEPRECIATION
At 1st May 2023 24,669
Charge for year 13,459
At 30th April 2024 38,128
NET BOOK VALUE
At 30th April 2024 15,709
At 30th April 2023 29,168

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 12,000 12,000
Work-in-progress 34,101 147,799
46,101 159,799

LINCS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05397220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 878,729 923,862
Other debtors 290 -
Prepayments 32,433 27,698
911,452 951,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 12,485 12,485
Trade creditors 448,554 482,755
Current Corporation tax 174,818 152,885
Social security and other taxes 25,763 26,915
VAT 111,204 96,307
Other creditors 120,310 19,802
Accruals and deferred income 95,764 167,827
988,898 958,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 3,121 15,606

9. ULTIMATE CONTROLLING PARTY

The directors control the company.