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COMPANY REGISTRATION NUMBER: 07485821
Lincolnshire Energy Development Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Lincolnshire Energy Development Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
90,191
100,220
Current assets
Debtors
5
56,772
10,755
Cash at bank and in hand
34,196
140,086
---------
----------
90,968
150,841
Creditors: amounts falling due within one year
6
34
69,936
---------
----------
Net current assets
90,934
80,905
----------
----------
Total assets less current liabilities
181,125
181,125
----------
----------
Capital and reserves
Called up share capital
150
150
Share premium account
149,850
149,850
Profit and loss account
31,125
31,125
----------
----------
Shareholders funds
181,125
181,125
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 January 2025 , and are signed on behalf of the board by:
A H Price
Director
Company registration number: 07485821
Lincolnshire Energy Development Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, Lincolnshire, LN1 1XW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
4% straight line
Equipment
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
164,288
13,944
178,232
----------
---------
----------
Depreciation
At 1 October 2023
74,526
3,486
78,012
Charge for the year
6,543
3,486
10,029
----------
---------
----------
At 30 September 2024
81,069
6,972
88,041
----------
---------
----------
Carrying amount
At 30 September 2024
83,219
6,972
90,191
----------
---------
----------
At 30 September 2023
89,762
10,458
100,220
----------
---------
----------
5. Debtors
2024
2023
£
£
Trade debtors
15,096
6,968
Amounts owed by group undertakings and undertakings in which the company has a participating interest
37,867
Other debtors
3,809
3,787
---------
---------
56,772
10,755
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34
Amounts owed to group undertakings and undertakings in which the company has a participating interest
69,936
----
---------
34
69,936
----
---------