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REGISTERED NUMBER: 04279310















Financial Statements for the Year Ended 31st December 2024

for

Lincs Ironmasters Limited

Lincs Ironmasters Limited (Registered number: 04279310)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lincs Ironmasters Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: R A Davidson
Mrs T Davidson





REGISTERED OFFICE: 22 Rothbury Road
Scunthorpe
North Lincolnshire
DN17 1EY





REGISTERED NUMBER: 04279310





ACCOUNTANTS: Peter R Burton Accountants
43 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PN

Lincs Ironmasters Limited (Registered number: 04279310)

Balance Sheet
31st December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,480 42,640
36,480 42,640

CURRENT ASSETS
Stocks 11,045 6,711
Debtors 6 135,920 94,672
Cash at bank 186,688 164,389
333,653 265,772
CREDITORS
Amounts falling due within one year 7 130,139 128,961
NET CURRENT ASSETS 203,514 136,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,994

179,451

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings 9 237,994 177,451
SHAREHOLDERS' FUNDS 239,994 179,451

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Lincs Ironmasters Limited (Registered number: 04279310)

Balance Sheet - continued
31st December 2024


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 26th February 2025 and were signed on its behalf by:





Mrs T Davidson - Director


Lincs Ironmasters Limited (Registered number: 04279310)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Lincs Ironmasters Limited is a private company, limited by shares , registered in Not specified/Other. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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 balance sheet date.


Lincs Ironmasters Limited (Registered number: 04279310)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 5,000
AMORTISATION
At 1st January 2024
and 31st December 2024 5,000
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

Lincs Ironmasters Limited (Registered number: 04279310)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2024 12,849 33,491 10,517 9,699 66,556
Additions - - 981 7,000 7,981
Disposals - - (1,156 ) (9,699 ) (10,855 )
At 31st December
2024

12,849

33,491

10,342

7,000

63,682
DEPRECIATION
At 1st January 2024 - 18,422 4,686 808 23,916
Charge for year - 2,376 876 4,175 7,427
Eliminated on disposal - - (908 ) (3,233 ) (4,141 )
At 31st December
2024

-

20,798

4,654

1,750

27,202
NET BOOK VALUE
At 31st December
2024

12,849

12,693

5,688

5,250

36,480
At 31st December
2023

12,849

15,069

5,831

8,891

42,640

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 130,311 89,151
Prepayments 5,609 5,521
135,920 94,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 56,235 56,504
Tax 31,206 13,550
Social security and other taxes 735 750
VAT 7,726 43,546
Directors' current accounts 22,357 2,625
Accrued expenses 11,880 11,986
130,139 128,961

Lincs Ironmasters Limited (Registered number: 04279310)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. RESERVES
Retained
earnings
£   

At 1st January 2024 177,451
Profit for the year 94,543
Dividends (34,000 )
At 31st December 2024 237,994