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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
Page
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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
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Lincs Coast Lettings Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
128,827 
124,298 
Investment property
130,000 
125,000 
258,827 
249,298 
Current assets
Debtors
3,801 
1,599 
Cash at bank and in hand
9,015 
7,705 
12,816 
9,304 
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)
Capital and reserves
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
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Lincs Coast Lettings Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
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.
Turnover
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
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 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.
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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 
Additions
- 
1,723 
- 
1,723 
Revaluations
4,000 
- 
- 
4,000 
At 31 August 2024
124,000 
6,714 
283 
130,997 
Depreciation
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 
Net book value
At 31 August 2024
124,000 
4,678 
149 
128,827 
At 31 August 2023
120,000 
4,054 
244 
124,298 
2024 
2023 
£ 
£ 
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.
5
Investment property
2024 
£ 
Fair value at 1 September 2023
125,000 
Net gain from fair value adjustments
5,000 
At 31 August 2024
130,000 
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.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,482 
615 
Accrued income and prepayments
1,099 
984 
Other debtors
1,220 
- 
3,801 
1,599 
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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 
£ 
£ 
Trade creditors
1,460 
944 
Loans from directors
79,066 
78,979 
Accruals
1,680 
1,554 
Deferred income
1,498 
- 
83,704 
81,477 
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 
2,857 
1,047 
2024 
2023 
£ 
£ 
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).
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