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LINCOLNSHIRE EVENTS LIMITED

Registered Number
08039858
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LINCOLNSHIRE EVENTS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

KIRKE, Charles William Henry
KIRKE, Rupert Peter James

Registered Address

Cabourne Parva Riby Road
Cabourne
Market Rasen
LN7 6DR

Registered Number

08039858 (England and Wales)
LINCOLNSHIRE EVENTS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets416,27924,279
16,27924,279
Current assets
Stocks-21,100
Debtors8,7509,009
Cash at bank and on hand155-
8,90530,109
Creditors amounts falling due within one year5(45,643)(45,568)
Net current assets (liabilities)(36,738)(15,459)
Total assets less current liabilities(20,459)8,820
Provisions for liabilities6-(3,844)
Net assets(20,459)4,976
Capital and reserves
Called up share capital33
Profit and loss account(20,462)4,973
Shareholders' funds(20,459)4,976
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
KIRKE, Rupert Peter James
Director
Registered Company No. 08039858
LINCOLNSHIRE EVENTS LIMITED
Notes to the Financial Statements
for the year ended 30 April 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. The financial statements have been prepared under the historical cost convention.
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). Financial Instruments Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Current or deferred taxation assets and liabilities are not discounted.
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Straight line (years)
Plant and machinery5
Vehicles5
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 year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 May 2351,0952,64553,740
Disposals(11,095)(1,250)(12,345)
At 30 April 2440,0001,39541,395
Depreciation and impairment
At 01 May 2327,0952,36629,461
Charge for year8,000-8,000
On disposals(11,095)(1,250)(12,345)
At 30 April 2424,0001,11625,116
Net book value
At 30 April 2416,00027916,279
At 30 April 2324,00027924,279
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-384
Bank borrowings and overdrafts3,9304,046
Amounts owed to related parties40,86340,863
Accrued liabilities and deferred income850275
Total45,64345,568
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-3,844
Total-3,844