1 October 2023 v2025.4.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP036407502023-10-012024-09-30036407502024-09-30036407502023-09-3003640750core:WithinOneYear2024-09-3003640750core:WithinOneYear2023-09-3003640750core:AfterOneYear2024-09-3003640750core:AfterOneYear2023-09-3003640750core:ShareCapital2024-09-3003640750core:ShareCapital2023-09-3003640750core:RetainedEarningsAccumulatedLosses2024-09-3003640750core:RetainedEarningsAccumulatedLosses2023-09-3003640750bus:Director12023-10-012024-09-3003640750bus:RegisteredOffice2023-10-012024-09-3003640750core:MotorVehicles2023-10-012024-09-3003640750core:PlantMachinery2023-10-012024-09-3003640750core:OfficeEquipment2023-10-012024-09-3003640750core:FurnitureFittings2023-10-012024-09-30036407502022-10-012023-09-3003640750core:LandBuildings2023-10-0103640750core:PlantMachinery2023-10-01036407502023-10-0103640750core:LandBuildings2024-09-3003640750core:PlantMachinery2024-09-3003640750core:LandBuildings2023-09-3003640750core:PlantMachinery2023-09-300364075012023-10-012024-09-3003640750countries:EnglandWales2023-10-012024-09-3003640750bus:AuditExemptWithAccountantsReport2023-10-012024-09-3003640750bus:PrivateLimitedCompanyLtd2023-10-012024-09-3003640750bus:SmallEntities2023-10-012024-09-3003640750bus:FullAccounts2023-10-012024-09-30
Company registration number:
03640750
Education Lincs Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2024
Education Lincs Limited
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
236,152
 
253,182
 
Current assets    
Stocks
15,551
 
5,145
 
Debtors 6
80,365
 
59,809
 
Cash at bank and in hand
91,015
 
89,259
 
186,931
 
154,213
 
Creditors: amounts falling due within one year 7
(265,846
)
(217,162
)
Net current liabilities
(78,915
)
(62,949
)
Total assets less current liabilities 157,237   190,233  
Creditors: amounts falling due after more than one year 8
(10,728
)
(20,708
)
Provisions for liabilities
(1,661
)
(4,722
)
Net assets
144,848
 
164,803
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
144,748
 
164,703
 
Shareholders funds
144,848
 
164,803
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
20 January 2025
, and are signed on behalf of the board by:
A Kiddle
Director
Company registration number:
03640750
Education Lincs Limited
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Cottage
,
191 Humberston Avenue
,
Humberston, Grimsby
,
North East Lincolnshire
,
DN36 4SZ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied or services rendered, net of discounts and Value Added Tax.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
25% reducing balance
Plant and machinery
25% reducing balance
Office equipment
25% straight line
Fixtures and fittings
15% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
7
(2023:
7
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
228,326
 
283,178
 
511,504
 
Additions -  
1,831
 
1,831
 
At
30 September 2024
228,326
 
285,009
 
513,335
 
Depreciation      
At
1 October 2023
-  
258,322
 
258,322
 
Charge -  
18,861
 
18,861
 
At
30 September 2024
-  
277,183
 
277,183
 
Carrying amount      
At
30 September 2024
228,326
 
7,826
 
236,152
 
At 30 September 2023
228,326
 
24,856
 
253,182
 

6 Debtors

20242023
££
Trade debtors
69,140
 
56,092
 
Other debtors
11,225
 
3,717
 
80,365
 
59,809
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
52,691
 
13,409
 
Taxation and social security
32,586
 
21,516
 
Other creditors
170,569
 
172,237
 
265,846
 
217,162
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
10,728
 
20,708