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Company Registration No. 12067943 (England and Wales)
CB LINCS PROPERTY LTD Unaudited accounts for the year ended 30 June 2024
CB LINCS PROPERTY LTD Unaudited accounts Contents
Page
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CB LINCS PROPERTY LTD Company Information for the year ended 30 June 2024
Directors
Charles Barrett Maria Dixon
Company Number
12067943 (England and Wales)
Registered Office
112-113 High Street LINCOLN LN5 7PY ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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CB LINCS PROPERTY LTD Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,603 
7,277 
Investment property
140,000 
140,000 
146,603 
147,277 
Current assets
Debtors
89,781 
46,137 
Cash at bank and in hand
60,380 
22,665 
150,161 
68,802 
Creditors: amounts falling due within one year
(24,210)
(12,230)
Net current assets
125,951 
56,572 
Total assets less current liabilities
272,554 
203,849 
Creditors: amounts falling due after more than one year
(119,199)
(123,068)
Net assets
153,355 
80,781 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
71,000 
71,000 
Capital contribution reserve
50,000 
8,000 
Profit and loss account
32,255 
1,681 
Shareholders' funds
153,355 
80,781 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by
Charles Barrett Director Company Registration No. 12067943
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CB LINCS PROPERTY LTD Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
CB LINCS PROPERTY LTD is a private company, limited by shares, registered in England and Wales, registration number 12067943. The registered office is 112-113 High Street, LINCOLN, LN5 7PY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing balance
Computer equipment
20% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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CB LINCS PROPERTY LTD Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
12,495 
1,545 
14,040 
Additions
- 
973 
973 
At 30 June 2024
12,495 
2,518 
15,013 
Depreciation
At 1 July 2023
5,851 
912 
6,763 
Charge for the year
1,328 
319 
1,647 
At 30 June 2024
7,179 
1,231 
8,410 
Net book value
At 30 June 2024
5,316 
1,287 
6,603 
At 30 June 2023
6,644 
633 
7,277 
5
Investment property
2024 
£ 
Fair value at 1 July 2023
140,000 
At 30 June 2024
140,000 
The property had a revaluation carried out by a qualified surveyor based on the condition and market value as at the 2021 year end. No adjustment to the valuation of the investment property has been necessary to date.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
43,644 
- 
Other debtors
- 
46,137 
43,644 
46,137 
Amounts falling due after more than one year
Other debtors
46,137 
- 
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CB LINCS PROPERTY LTD Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
VAT
11,312 
2,438 
Taxes and social security
5,298 
1,011 
Other creditors
950 
2,131 
Accruals
650 
650 
24,210 
12,230 
A BBL of some £30,000 had been obtained from the high street bank which has now matured in terms of repayment commencing in June 2021 over a 5 year period. £6,000 represents 1 year of creditor liability falling due. The loan has government support in terms of a guarantee to the banking institution. No charges are filing at companies house in relation to this liability.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
119,199 
123,068 
A BBL of some £30,000 had been obtained from the high street bank which has now matured in terms of repayment commencing in June 2021 over a 5 year period. Yr. 2 £5,500 The final payment based on the standard repayment schedule will be June 30th 2026. The loan has government support in terms of a guarantee to the banking institution. No charges are filing at companies house in relation to this liability. A further loan has been obtained to support the purchase of investment property with a security charge listed at companies house in favour of Keystone Property Finance. An early repayment provision has been included in these statements reporting the total liability as £111,568 as at the reporting date. A further loan from Bech Properties Ltd £2,131
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Capital contribution reserve
The directors have increased the capital contribution by some £42,000 in this period to support the continued growth.
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CB LINCS PROPERTY LTD Notes to the Accounts for the year ended 30 June 2024
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Charles Barrett
Unsecured Loan
46,137 
- 
- 
46,137 
46,137 
- 
- 
46,137 
This directors loan is to be repaid within 9 months.
12
Average number of employees
During the year the average number of employees was 2 (2023: 1).
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