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Company registration number:
09167157
Lincolnshire Site Services Ltd
Unaudited Filleted Financial Statements for the year ended
31 July 2024
Lincolnshire Site Services Ltd
Statement of Financial Position
31 July 2024
20242023
Note££
Fixed assets    
Tangible assets 5
3,391
 
23,226
 
Current assets    
Debtors 6
307,116
 
233,289
 
Cash at bank and in hand
113,763
 
192,265
 
420,879
 
425,554
 
Creditors: amounts falling due within one year 7
(188,161
)
(207,801
)
Net current assets
232,718
 
217,753
 
Total assets less current liabilities 236,109   240,979  
Provisions for liabilities
(848
)
(5,807
)
Net assets
235,261
 
235,172
 
Capital and reserves    
Called up share capital
110
 
110
 
Profit and loss account
235,151
 
235,062
 
Shareholders funds
235,261
 
235,172
 
For the year ending
31 July 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge 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
30 January 2025
, and are signed on behalf of the board by:
J Burton
M Crome
DirectorDirector
Company registration number:
09167157
Lincolnshire Site Services Ltd
Notes to the Financial Statements
Year ended
31 July 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
Unit 12 Westside Business Park
,
Estate Road No 2
,
Grimsby
,
North East Lincolnshire
,
DN31 2TG
, 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 and 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:
Plant and machinery
25% straight line
Office equipment
25% straight line
Motor vehicles
25% reducing balance

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.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
6.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 August 2023
91,074
 
Additions
1,650
 
Disposals
(85,500
)
At
31 July 2024
7,224
 
Depreciation  
At
1 August 2023
67,848
 
Charge
1,795
 
Disposals
(65,810
)
At
31 July 2024
3,833
 
Carrying amount  
At
31 July 2024
3,391
 
At 31 July 2023
23,226
 

6 Debtors

20242023
££
Trade debtors
186,606
 
187,614
 
Other debtors
120,510
 
45,675
 
307,116
 
233,289
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
46,654
 
56,071
 
Taxation and social security
109,988
 
108,621
 
Other creditors
31,519
 
43,109
 
188,161
 
207,801
 
Other creditors due within on year includes Hire Purchase balances of £Nil (2023: £2,833), which are secured on the assets that they relate to.

8 Operating leases

The company as lessee    
20242023
££
Later than 1 year and not later than 5 years
43,618
 
0.00