Company Registration No. 14289117 (England and Wales)
Lincs Coast Lettings Ltd
Unaudited accounts
for the year ended 31 August 2024
Lincs Coast Lettings Ltd
Unaudited accounts
Contents
Lincs Coast Lettings Ltd
Company Information
for the year ended 31 August 2024
Director
David James Morton
Company Number
14289117 (England and Wales)
Registered Office
Westlands
111 Oxford Street
Cleethorpes
N E Lincs
DN35 0BJ
England
Accountants
LRCA Limited
McCue House
70 Wilton Road
Grimsby
N E Lincs
DN36 4AW
Lincs Coast Lettings Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
128,827
124,298
Investment property
130,000
125,000
Cash at bank and in hand
9,015
7,705
Creditors: amounts falling due within one year
(83,704)
(81,477)
Net current liabilities
(70,888)
(72,173)
Total assets less current liabilities
187,939
177,125
Creditors: amounts falling due after more than one year
(178,534)
(178,433)
Provisions for liabilities
Deferred tax
(2,857)
(1,047)
Net assets/(liabilities)
6,548
(2,355)
Called up share capital
110
110
Revaluation reserve
3,756
516
Profit and loss account
2,682
(2,981)
Shareholders' funds
6,548
(2,355)
For the year ending 31 August 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 his 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 20 May 2025 and were signed on its behalf by
David James Morton
Director
Company Registration No. 14289117
Lincs Coast Lettings Ltd
Notes to the Accounts
for the year ended 31 August 2024
Lincs Coast Lettings Ltd is a private company, limited by shares, registered in England and Wales, registration number 14289117. The registered office is Westlands, 111 Oxford Street, Cleethorpes, N E Lincs, DN35 0BJ, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Land and buildings are carried at a revalued amount being their fair value at the date of revaluation less depreciation and impairment. Plant and equipment and computer equipment 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% Straight Line
Computer equipment
33.3% Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Lincs Coast Lettings Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At 1 September 2023
120,000
4,991
283
125,274
Revaluations
4,000
-
-
4,000
At 31 August 2024
124,000
6,714
283
130,997
At 1 September 2023
-
937
39
976
Charge for the year
-
1,099
95
1,194
At 31 August 2024
-
2,036
134
2,170
At 31 August 2024
124,000
4,678
149
128,827
At 31 August 2023
120,000
4,054
244
124,298
Carrying amount of land and buildings on cost basis
119,363
119,363
Land and Buildings were valued on an open market basis on 31st August 2024 by the director. Valuation was based on the sale of similar properties, in a similar condition and location.
Fair value at 1 September 2023
125,000
Net gain from fair value adjustments
5,000
Investment properties were valued on an open market basis on 31st August 2024 by the director. Valuation was based on the sale of similar property, in a similar location and condition.
Amounts falling due within one year
Accrued income and prepayments
1,099
984
Lincs Coast Lettings Ltd
Notes to the Accounts
for the year ended 31 August 2024
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
79,066
78,979
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
178,534
178,433
Aggregate of amounts that fall due for payment after five years
178,534
178,433
Loans are secured against the assets to which they relate.
9
Deferred taxation
2024
2023
Accelerated capital allowances
917
817
Revaluation of land and buildings
881
121
Revaluation of investment property
1,059
109
Provision at start of year
1,047
-
Charged to the profit and loss account
1,050
926
Charged to other comprehensive income
760
121
Provision at end of year
2,857
1,047
10
Transactions with related parties
At the end of the period the company owed £79,066 to it's director. The loan is repayable on demand and interest free.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).