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REGISTERED NUMBER: 08774616 (England and Wales)






















Financial Statements

for the Year Ended 30 June 2024

for

Lincoln Students' Union Trading Limited

Lincoln Students' Union Trading Limited (Registered number: 08774616)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lincoln Students' Union Trading Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J A Brooks
J P Lunn
A R Hinton



SECRETARY: H Millar



REGISTERED OFFICE: The Engine Shed
Lincoln Students' Union
Brayford Pool
Lincoln
LN6 7TS



REGISTERED NUMBER: 08774616 (England and Wales)



SENIOR STATUTORY AUDITOR: James Sewell BA (Hons) FCA CTA



AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,278 297,101

CURRENT ASSETS
Stocks 89,757 58,215
Debtors 5 246,278 125,824
Cash at bank 416,332 444,884
752,367 628,923
CREDITORS
Amounts falling due within one year 6 507,955 483,190
NET CURRENT ASSETS 244,412 145,733
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,690

442,834

CREDITORS
Amounts falling due after more than one
year

7

-

19,166
NET ASSETS 458,690 423,668

CAPITAL AND RESERVES
Called up share capital 9 400,001 400,001
Retained earnings 58,689 23,667
SHAREHOLDERS' FUNDS 458,690 423,668

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 29 November 2024 and were signed on its behalf by:





J A Brooks - Director


Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lincoln Students' Union Trading 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and fittings - straight line over 3 - 15 years
Computer equipment - straight line over 3 - 15 years

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

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 28 ) .

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Furniture
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 873,784 45,328 919,112
Additions 16,845 - 16,845
At 30 June 2024 890,629 45,328 935,957
DEPRECIATION
At 1 July 2023 576,683 45,328 622,011
Charge for year 99,668 - 99,668
At 30 June 2024 676,351 45,328 721,679
NET BOOK VALUE
At 30 June 2024 214,278 - 214,278
At 30 June 2023 297,101 - 297,101

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,294 52,522
Other debtors 17,926 3,363
Prepayments and accrued income 167,058 69,939
246,278 125,824

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Trade creditors 166,491 68,753
Amounts owed to group undertakings 7,576 104,889
Social security and other taxes 8,622 10,571
VAT 59,501 -
Other creditors 156,209 52,509
Accruals & deferred income 109,556 236,468
507,955 483,190

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 19,166

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 119,985 149,947
Between one and five years 249,969 187,375
In more than five years - 82,420
369,954 419,742

Lincoln Students' Union Trading Limited (Registered number: 08774616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400,001 Ordinary £1 400,001 400,001

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

11. CONTROLLING PARTY

The controlling party is the University of Lincoln Students' Union, as they own 100% of the shares.

The registered office of the controlling party is:
The Engine Shed
Lincoln Students' Union
Brayford Pool
Lincoln
LN6 7TS