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Company Registration No. 13587670 (England and Wales)
Lincoln Capital Ltd Unaudited accounts for the year ended 31 August 2024
Lincoln Capital Ltd Unaudited accounts Contents
Page
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Lincoln Capital Ltd Company Information for the year ended 31 August 2024
Directors
Joseph Fredrick Sherwood Good Scott Gregory
Company Number
13587670 (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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Lincoln Capital Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Called up share capital not paid
100 
100 
Fixed assets
Tangible assets
68,638 
80,750 
Investment property
625,000 
625,000 
693,638 
705,750 
Current assets
Cash at bank and in hand
41,487 
4,199 
Creditors: amounts falling due within one year
(233,150)
(150,727)
Net current liabilities
(191,663)
(146,528)
Total assets less current liabilities
502,075 
559,322 
Creditors: amounts falling due after more than one year
(68,000)
(101,000)
Net assets
434,075 
458,322 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
475,000 
475,000 
Profit and loss account
(41,025)
(16,778)
Shareholders' funds
434,075 
458,322 
For the year ending 31 August 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 24 October 2024 and were signed on its behalf by
Joseph Fredrick Sherwood Good Director Company Registration No. 13587670
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Lincoln Capital Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Lincoln Capital Ltd is a private company, limited by shares, registered in England and Wales, registration number 13587670. 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.
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:
Fixtures & fittings
15% 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.
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.
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Lincoln Capital Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2023
95,000 
At 31 August 2024
95,000 
Depreciation
At 1 September 2023
14,250 
Charge for the year
12,112 
At 31 August 2024
26,362 
Net book value
At 31 August 2024
68,638 
At 31 August 2023
80,750 
5
Investment property
2024 
£ 
Fair value at 1 September 2023
625,000 
At 31 August 2024
625,000 
(Appraisers UK - Licenced Valuer's), Bristol. Avon. The investment property valuation was carried out by the above company and as at the statement date has a market value of some £625,000
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
232,000 
150,000 
Accruals
1,150 
727 
233,150 
150,727 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
68,000 
101,000 
The company has a legal charge registered in favour of the investor at companies house over the property 271A High Street, Lincoln, Lincolnshire. This loan has an agreed term of 3 years and can be extended if so requested by the borrower. The whole of the land and property demised by the lease dated 8 march 2022. The title number is to be allocated upon registration of the lease
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Lincoln Capital Ltd Notes to the Accounts for the year ended 31 August 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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