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REGISTERED NUMBER: 05258704 (England and Wales)

















LINCS JOINERY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LINCS JOINERY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M A Sharpe
Mrs D Sharpe
Mr J A Hawley





SECRETARY: Mrs D Sharpe





REGISTERED OFFICE: 2 Wrights Way
Outer Circle Road
Lincoln
Lincolnshire
LN2 4JY





REGISTERED NUMBER: 05258704 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 107,990 133,167
107,990 133,167

CURRENT ASSETS
Debtors 595,104 496,211
Cash at bank 43,337 118,752
638,441 614,963
CREDITORS
Amounts falling due within one year 237,997 207,408
NET CURRENT ASSETS 400,444 407,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

508,434

540,722

CREDITORS
Amounts falling due after more than one year (8,692 ) (23,891 )

PROVISIONS FOR LIABILITIES (26,998 ) (25,302 )
NET ASSETS 472,744 491,529

CAPITAL AND RESERVES
Called up share capital 1,050 1,050
Retained earnings 471,694 490,479
472,744 491,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr M A Sharpe - Director


LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Lincs Joinery 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 118,952
AMORTISATION
At 1 April 2023
and 31 March 2024 118,952
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2023 260,209
Additions 4,092
At 31 March 2024 264,301
DEPRECIATION
At 1 April 2023 127,042
Charge for year 29,269
At 31 March 2024 156,311
NET BOOK VALUE
At 31 March 2024 107,990
At 31 March 2023 133,167

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 128,915
Transfer to ownership (37,115 )
At 31 March 2024 91,800
DEPRECIATION
At 1 April 2023 34,030
Charge for year 22,176
Transfer to ownership (23,985 )
At 31 March 2024 32,221
NET BOOK VALUE
At 31 March 2024 59,579
At 31 March 2023 94,885

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J A Hawley
Balance outstanding at start of year 16,694 8,732
Amounts advanced 30,470 53,906
Amounts repaid (44,400 ) (45,944 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,764 16,694

Mr M A Sharpe
Balance outstanding at start of year 13,018 2,783
Amounts advanced 56,495 52,735
Amounts repaid (42,500 ) (42,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,013 13,018

All advances made to directors are unsecured, repayable on demand and with no interest charged.