Registered number
08832340
Lincoln Solicitors Limited
Filleted Accounts
31 March 2025
Lincoln Solicitors Limited
Registered number: 08832340
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 18,011 18,851
Current assets
Stocks 7,500 3,725
Debtors 5 462 276
Cash at bank and in hand 14,889 26,825
22,851 30,826
Creditors: amounts falling due within one year 6 (22,107) (32,017)
Net current assets/(liabilities) 744 (1,191)
Total assets less current liabilities 18,755 17,660
Provisions for liabilities (570) (649)
Net assets 18,185 17,011
Capital and reserves
Called up share capital 1 1
Profit and loss account 18,184 17,010
Shareholder's funds 18,185 17,011
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Muhammad Athar Nadeem
Director
Approved by the board on 19 May 2025
Lincoln Solicitors Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of legal services.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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvement 0%
Plant and machinery 25% reducing balance
Fixtures and fittings 15% reducing balance
Stock and work-in-progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 50,000
At 31 March 2025 50,000
Amortisation
At 1 April 2024 50,000
At 31 March 2025 50,000
Net book value
At 31 March 2025 -
Goddwill represents the purchased value of previous self-employed business of " Lincoln Solicitores" and is carried in accounts at its historic value at 31 March 2014.Goodwill is being written off in equal annual instalments over its estimated economic life of 8 years.
4 Tangible fixed assets
Fixture & Fittings Plant and machinery etc Leasehold improvments Total
£ £ £ £
Cost
At 1 April 2024 11,059 7,813 14,176 33,048
At 31 March 2025 11,059 7,813 14,176 33,048
Depreciation
At 1 April 2024 7,768 6,429 - 14,197
Charge for the year 494 346 - 840
At 31 March 2025 8,262 6,775 - 15,037
Net book value
At 31 March 2025 2,797 1,038 14,176 18,011
At 31 March 2024 3,291 1,384 14,176 18,851
5 Debtors 2025 2024
£ £
Other debtors 462 276
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 2,317 4,826
Corporation tax 386 250
Director`s loan account 9,052 6,676
Taxation and social security costs - 485
Accruals and deferred income 754 733
Other creditors 9,598 19,047
22,107 32,017
7 Trading name
The company has traded throughout the current and previous period under the trading name of " Lincoln Solicitors".
8 Controlling party
The company was controlled throughout the current and previous period by its sole director, Mr Muhammad Athar Nadeem, by virtue of his 100% holding of the issued ordinary share capital of the company.
9 Other information
Lincoln Solicitors Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Alma Road
Manchester
M19 3NW
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