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Company Registration No. 10841531 (England and Wales)
Lincolnshire Drylining Limited Unaudited accounts for the year ended 30 June 2024
Lincolnshire Drylining Limited Unaudited accounts Contents
Page
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Lincolnshire Drylining Limited Company Information for the year ended 30 June 2024
Director
Lisa Walker
Company Number
10841531 (England and Wales)
Registered Office
97 Bunkers Hill Lincoln Lincolnshire LN2 4QT United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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Lincolnshire Drylining Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,413 
117,321 
Current assets
Debtors
40,407 
29,494 
Cash at bank and in hand
29,617 
23,554 
70,024 
53,048 
Creditors: amounts falling due within one year
(72,098)
(37,174)
Net current (liabilities)/assets
(2,074)
15,874 
Total assets less current liabilities
110,339 
133,195 
Creditors: amounts falling due after more than one year
(54,730)
(74,968)
Provisions for liabilities
Deferred tax
(19,166)
(18,163)
Net assets
36,443 
40,064 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
36,343 
39,964 
Shareholders' funds
36,443 
40,064 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 March 2025 and were signed on its behalf by
Lisa Walker Director Company Registration No. 10841531
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Lincolnshire Drylining Limited is a private company, limited by shares, registered in England and Wales, registration number 10841531. The registered office is 97 Bunkers Hill, Lincoln, Lincolnshire, LN2 4QT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
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 goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
75,757 
123,523 
199,280 
Additions
- 
31,888 
31,888 
Disposals
- 
(13,585)
(13,585)
At 30 June 2024
75,757 
141,826 
217,583 
Depreciation
At 1 July 2023
20,302 
61,657 
81,959 
Charge for the year
11,091 
17,011 
28,102 
On disposals
- 
(4,891)
(4,891)
At 30 June 2024
31,393 
73,777 
105,170 
Net book value
At 30 June 2024
44,364 
68,049 
112,413 
At 30 June 2023
55,455 
61,866 
117,321 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
46,631 
41,647 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,112 
1,198 
Trade debtors
9,552 
- 
Other debtors
29,743 
28,296 
40,407 
29,494 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
Obligations under finance leases and hire purchase contracts
15,299 
8,975 
Trade creditors
6,272 
- 
Taxes and social security
12,780 
395 
Loans from directors
1,254 
21,054 
Accruals
750 
750 
Deferred income
29,743 
- 
72,098 
37,174 
A BB Loan of some £30,000 secured by way of a government guarantee is in place. £30,000 term of 5yrs. £30,000 divided by 5yrs = £6,000 due within 12mths included in current liabilities
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Lincolnshire Drylining Limited Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,500 
14,000 
Obligations under finance leases and hire purchase contracts
44,835 
32,672 
Taxes and social security
395 
- 
Deferred income
- 
28,296 
54,730 
74,968 
A BB Loan of £30,000 term 5yrs less £6,000 due year 1. 16 months liability remaining after 12 months Yr 2. £6,000 Yr 3. £3,500 HP Liability due after 12 months £44,835 Corporation tax due year 2023 £395
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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