2023-04-012024-03-312024-03-31false04617254M C S (LINCOLN) LIMITED2024-11-06iso4217:GBPxbrli:pure046172542023-04-01046172542024-03-31046172542023-04-012024-03-31046172542022-04-01046172542023-03-31046172542022-04-012023-03-3104617254bus:SmallEntities2023-04-012024-03-3104617254bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3104617254bus:FullAccounts2023-04-012024-03-3104617254bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104617254core:WithinOneYear2024-03-3104617254core:AfterOneYear2024-03-3104617254core:WithinOneYear2023-03-3104617254core:AfterOneYear2023-03-3104617254core:ShareCapital2024-03-3104617254core:SharePremium2024-03-3104617254core:RevaluationReserve2024-03-3104617254core:OtherReservesSubtotal2024-03-3104617254core:RetainedEarningsAccumulatedLosses2024-03-3104617254core:ShareCapital2023-03-3104617254core:SharePremium2023-03-3104617254core:RevaluationReserve2023-03-3104617254core:OtherReservesSubtotal2023-03-3104617254core:RetainedEarningsAccumulatedLosses2023-03-3104617254core:LandBuildings2024-03-3104617254core:PlantMachinery2024-03-3104617254core:Vehicles2024-03-3104617254core:FurnitureFittings2024-03-3104617254core:OfficeEquipment2024-03-3104617254core:NetGoodwill2024-03-3104617254core:IntangibleAssetsOtherThanGoodwill2024-03-3104617254core:ListedExchangeTraded2024-03-3104617254core:UnlistedNon-exchangeTraded2024-03-3104617254core:LandBuildings2023-03-3104617254core:PlantMachinery2023-03-3104617254core:Vehicles2023-03-3104617254core:FurnitureFittings2023-03-3104617254core:OfficeEquipment2023-03-3104617254core:NetGoodwill2023-03-3104617254core:IntangibleAssetsOtherThanGoodwill2023-03-3104617254core:ListedExchangeTraded2023-03-3104617254core:UnlistedNon-exchangeTraded2023-03-3104617254core:LandBuildings2023-04-012024-03-3104617254core:PlantMachinery2023-04-012024-03-3104617254core:Vehicles2023-04-012024-03-3104617254core:FurnitureFittings2023-04-012024-03-3104617254core:OfficeEquipment2023-04-012024-03-3104617254core:NetGoodwill2023-04-012024-03-3104617254core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104617254core:ListedExchangeTraded2023-04-012024-03-3104617254core:UnlistedNon-exchangeTraded2023-04-012024-03-3104617254core:MoreThanFiveYears2023-04-012024-03-3104617254core:Non-currentFinancialInstruments2024-03-3104617254core:Non-currentFinancialInstruments2023-03-3104617254dpl:CostSales2023-04-012024-03-3104617254dpl:DistributionCosts2023-04-012024-03-3104617254core:LandBuildings2023-04-012024-03-3104617254core:PlantMachinery2023-04-012024-03-3104617254core:Vehicles2023-04-012024-03-3104617254core:FurnitureFittings2023-04-012024-03-3104617254core:OfficeEquipment2023-04-012024-03-3104617254dpl:AdministrativeExpenses2023-04-012024-03-3104617254core:NetGoodwill2023-04-012024-03-3104617254core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104617254dpl:GroupUndertakings2023-04-012024-03-3104617254dpl:ParticipatingInterests2023-04-012024-03-3104617254dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3104617254core:ListedExchangeTraded2023-04-012024-03-3104617254dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3104617254core:UnlistedNon-exchangeTraded2023-04-012024-03-3104617254dpl:CostSales2022-04-012023-03-3104617254dpl:DistributionCosts2022-04-012023-03-3104617254core:LandBuildings2022-04-012023-03-3104617254core:PlantMachinery2022-04-012023-03-3104617254core:Vehicles2022-04-012023-03-3104617254core:FurnitureFittings2022-04-012023-03-3104617254core:OfficeEquipment2022-04-012023-03-3104617254dpl:AdministrativeExpenses2022-04-012023-03-3104617254core:NetGoodwill2022-04-012023-03-3104617254core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104617254dpl:GroupUndertakings2022-04-012023-03-3104617254dpl:ParticipatingInterests2022-04-012023-03-3104617254dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3104617254core:ListedExchangeTraded2022-04-012023-03-3104617254dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3104617254core:UnlistedNon-exchangeTraded2022-04-012023-03-3104617254core:NetGoodwill2024-03-3104617254core:IntangibleAssetsOtherThanGoodwill2024-03-3104617254core:LandBuildings2024-03-3104617254core:PlantMachinery2024-03-3104617254core:Vehicles2024-03-3104617254core:FurnitureFittings2024-03-3104617254core:OfficeEquipment2024-03-3104617254core:AfterOneYear2024-03-3104617254core:WithinOneYear2024-03-3104617254core:ListedExchangeTraded2024-03-3104617254core:UnlistedNon-exchangeTraded2024-03-3104617254core:ShareCapital2024-03-3104617254core:SharePremium2024-03-3104617254core:RevaluationReserve2024-03-3104617254core:OtherReservesSubtotal2024-03-3104617254core:RetainedEarningsAccumulatedLosses2024-03-3104617254core:NetGoodwill2023-03-3104617254core:IntangibleAssetsOtherThanGoodwill2023-03-3104617254core:LandBuildings2023-03-3104617254core:PlantMachinery2023-03-3104617254core:Vehicles2023-03-3104617254core:FurnitureFittings2023-03-3104617254core:OfficeEquipment2023-03-3104617254core:AfterOneYear2023-03-3104617254core:WithinOneYear2023-03-3104617254core:ListedExch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M C S (LINCOLN) LIMITED

Registered Number
04617254
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

M C S (LINCOLN) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr A S Frost
Mrs A E Frost

Company Secretary

Mr A S Frost

Registered Address

12 Tentercroft Street
Lincoln
LN5 7DB

Place of Business

6 Clifton Street

Lincoln

LN5 8LQ


Registered Number

04617254 (England and Wales)
M C S (LINCOLN) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3191,280201,713
191,280201,713
Current assets
Stocks413,84215,429
Debtors596,306135,514
Cash at bank and on hand504,098433,100
614,246584,043
Creditors amounts falling due within one year6(90,152)(96,224)
Net current assets (liabilities)524,094487,819
Total assets less current liabilities715,374689,532
Creditors amounts falling due after one year7(49,017)(58,972)
Provisions for liabilities8(7,112)(9,720)
Net assets659,245620,840
Capital and reserves
Called up share capital500500
Other reserves500500
Profit and loss account658,245619,840
Shareholders' funds659,245620,840
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2024, and are signed on its behalf by:
Mr A S Frost
Director
Registered Company No. 04617254
M C S (LINCOLN) 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings153
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
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 year78
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 23162,83318,08775,44618,137274,503
Disposals--(14,191)-(14,191)
At 31 March 24162,83318,08761,25518,137260,312
Depreciation and impairment
At 01 April 23-15,68241,69415,41472,790
Charge for year-3618,2059369,502
On disposals--(13,260)-(13,260)
At 31 March 24-16,04336,63916,35069,032
Net book value
At 31 March 24162,8332,04424,6161,787191,280
At 31 March 23162,8332,40533,7522,723201,713
4.Stocks

2024

2023

££
Other stocks13,84215,429
Total13,84215,429
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables91,924128,171
Other debtors1,6724,633
Prepayments and accrued income2,7102,710
Total96,306135,514
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28,50860,028
Bank borrowings and overdrafts9,9569,459
Taxation and social security35,32410,637
Other creditors16,36416,100
Total90,15296,224
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts49,01758,972
Total49,01758,972
Bank loan is denominated in £ with a nominal interest rate of 1.33%, and the final instalment is due on 11 June 2029. The carrying amount at year end is £58,973 (2023 - £68,431). The loan is secured over the related asset. Included in the loans and borrowings are the following amounts due after more than five years: Bank loan repaid by instalments 2024 £nil (2023 £16,597).
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,1129,720
Total7,1129,720