Company registration number 05423107 (England and Wales)
LINT (REDINGTON ROAD) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LINT (REDINGTON ROAD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LINT (REDINGTON ROAD) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
7,100,000
7,100,000
Current assets
Debtors
4
91,146
79,716
Cash at bank and in hand
158,124
141,583
249,270
221,299
Creditors: amounts falling due within one year
5
(10,770,501)
(5,759,868)
Net current liabilities
(10,521,231)
(5,538,569)
Total assets less current liabilities
(3,421,231)
1,561,431
Creditors: amounts falling due after more than one year
6
-
(4,848,000)
Provisions for liabilities
(87,500)
(87,500)
Net liabilities
(3,508,731)
(3,374,069)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(3,508,732)
(3,374,070)
Total equity
(3,508,731)
(3,374,069)
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 24 July 2025 and are signed on its behalf by:
Mr T Chand
Director
Company registration number 05423107 (England and Wales)
LINT (REDINGTON ROAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Lint (Redington Road) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gabrielle House, 332-336 Perth Road, Ilford, Essex, United Kingdom, IG2 6FF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The financial statements of the company are consolidated in the financial statements of Lint Group Limited. These consolidated financial statements are available from its registered office, Gabrielle House, 332-336 Perth Road, Ilford, United Kingdom, IG2 6FF.
1.2
Going concern
For the year endedtrue 30 September 2024, the company generated loss of £134,663 (2023: £396,376 profit). The net current liabilities were £5,673,231 (2023: £5,538,569) and net liabilities were £3,508,731 (2023: £3,374,069). The financial statements have been prepared on a going concern basis, the validity of which depends upon the financial support from the directors and a fellow subsidiary company. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents rents receivable from tenants. Turnover is recognised in the profit and loss account in the period it relates to.
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
LINT (REDINGTON ROAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Other operating income represents insurance claim recievable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
7,100,000
Investment property comprises of residential units. The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.
LINT (REDINGTON ROAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
90
Other debtors
91,146
79,626
91,146
79,716
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,848,000
Trade creditors
11,769
4,770
Amounts owed to group undertakings
5,893,973
5,725,580
Corporation tax
10,402
14,031
Other creditors
6,357
15,487
10,770,501
5,759,868
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,848,000
Banks loans are secured by fixed and floating charge over the assets of the company. In addition, the directors have provided additional personal guarantees.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Ghulam Alahi
Statutory Auditor:
Vision Consulting Accountants Limited
Date of audit report:
5 August 2025
LINT (REDINGTON ROAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
8
Related party transactions
During the year the company entered into the following transactions with related parties:
The company paid management fee £nil (2023: £20,000) to a director of the company.