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REGISTERED NUMBER: 00655803 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Lincolnshire Coast Light Railway Company
Limited

Lincolnshire Coast Light Railway Company
Limited (Registered number: 00655803)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lincolnshire Coast Light Railway Company
Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: W A A Evison
J R Chappell
I F Ellis





REGISTERED OFFICE: 55 Burgh Road
Skegness
Lincolnshire
PE25 2RJ





REGISTERED NUMBER: 00655803 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Lincolnshire Coast Light Railway Company
Limited (Registered number: 00655803)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,508 14,094

CURRENT ASSETS
Stocks 1,569 2,092
Debtors 5 - 93
Cash at bank and in hand 11,666 10,993
13,235 13,178
CREDITORS
Amounts falling due within one year 6 18,324 18,324
NET CURRENT LIABILITIES (5,089 ) (5,146 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,419

8,948

CAPITAL AND RESERVES
Called up share capital 7 2,100 2,100
Revaluation reserve 8 10,000 10,000
Retained earnings (3,681 ) (3,152 )
SHAREHOLDERS' FUNDS 8,419 8,948

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





J R Chappell - Director


Lincolnshire Coast Light Railway Company
Limited (Registered number: 00655803)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Lincolnshire Coast Light Railway Company 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.

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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - not provided
Plant and machinery - 25% on reducing balance

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.

Going concern
As at 31 October 2024 the company's net liabilities exceeded it's assets by £5,089 (2023: £5,146).

The directors have agreed that they will continue to financially support the company's cash flow as necessary.

On the basis described above, the directors consider it appropriate to prepare these financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

Lincolnshire Coast Light Railway Company
Limited (Registered number: 00655803)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Land and Plant and
Buildings machinery Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 1,250 16,574 17,824
DEPRECIATION
At 1 November 2023 - 3,730 3,730
Charge for year - 586 586
At 31 October 2024 - 4,316 4,316
NET BOOK VALUE
At 31 October 2024 1,250 12,258 13,508
At 31 October 2023 1,250 12,844 14,094

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 93

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 18,324 18,324

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,100 Ordinary £1 2,100 2,100

8. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 10,000

9. ULTIMATE CONTROLLING PARTY

The company was under the control of the executors of F W J Ellis, W Woolhouse and W A A Evison during the year.