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REGISTERED NUMBER: 04431433 (England and Wales)















LINCS CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






LINCS CONSTRUCTION LIMITED (REGISTERED NUMBER: 04431433)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


LINCS CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: G R Campbell





SECRETARY: G R Campbell





REGISTERED OFFICE: 122 Roman Wharf
Lincoln
Lincolnshire
LN1 1SR





REGISTERED NUMBER: 04431433 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

LINCS CONSTRUCTION LIMITED (REGISTERED NUMBER: 04431433)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,391 25,138

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 5 217,143 279,893
Cash at bank 166 11,290
223,309 297,183
CREDITORS
Amounts falling due within one year 6 190,850 191,714
NET CURRENT ASSETS 32,459 105,469
TOTAL ASSETS LESS CURRENT LIABILITIES 60,850 130,607

CREDITORS
Amounts falling due after more than one year 7 (6,117 ) (29,836 )

PROVISIONS FOR LIABILITIES (7,068 ) (6,255 )
NET ASSETS 47,665 94,516

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 47,565 94,416
SHAREHOLDERS' FUNDS 47,665 94,516

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 10 January 2025 and were signed by:





G R Campbell - Director


LINCS CONSTRUCTION LIMITED (REGISTERED NUMBER: 04431433)

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

1. STATUTORY INFORMATION

Lincs Construction 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.

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 significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably. This is usually on handover of the goods.

Amounts Recoverable on Contract

In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

Tangible fixed assets
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 etc - 33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Work in progress and stock
Stocks on hand are measured at the lower of cost and net realisable value. Work in progress is stated at the lower of cost and estimated invoice price less costs to complete the project.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

LINCS CONSTRUCTION LIMITED (REGISTERED NUMBER: 04431433)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 38,777
Additions 23,458
Disposals (3,650 )
At 31 May 2024 58,585
DEPRECIATION
At 1 June 2023 13,639
Charge for year 17,468
Eliminated on disposal (913 )
At 31 May 2024 30,194
NET BOOK VALUE
At 31 May 2024 28,391
At 31 May 2023 25,138

The net book value of tangible fixed assets includes £ 14,048 (2023 - £ 18,731 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,692 76,115
Amounts owed by group undertakings 88,137 76,532
Amounts recoverable on contract 115,175 127,246
Other debtors 3,139 -
217,143 279,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 91,828 26,964
Hire purchase contracts 7,198 6,238
Trade creditors 48,079 100,949
Taxation and social security 26,289 37,796
Other creditors 17,456 19,767
190,850 191,714

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 16,521
Hire purchase contracts 6,117 13,315
6,117 29,836

LINCS CONSTRUCTION LIMITED (REGISTERED NUMBER: 04431433)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 68,299 19,964
Hire purchase contracts 13,315 19,553
81,614 39,517

Hire purchase contracts are secured against the asset they relate to.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The directors haveloan accounts totalling £2,715 brought forward (2023: £10,257). During the year, the directors of the company borrowed £26,900 (2023: £28,568) from the company and repaid £21,046 (2023: £21,026). The balance at the end of the year totalled £3,139 overdrawn (2023: £2,715).