1 December 2023 false No description of principal activity Taxfiler 2024.6 13003046business:PrivateLimitedCompanyLtd2023-12-012024-11-30 130030462023-11-30 130030462023-12-012024-11-30 13003046business:AuditExemptWithAccountantsReport2023-12-012024-11-30 13003046business:FilletedAccounts2023-12-012024-11-30 130030462024-11-30 13003046business:Director12023-12-012024-11-30 13003046business:Director22023-12-012024-11-30 13003046business:RegisteredOffice2023-12-012024-11-30 130030462023-11-30 13003046core:WithinOneYear2024-11-30 13003046core:WithinOneYear2023-11-30 13003046core:AfterOneYear2024-11-30 13003046core:AfterOneYear2023-11-30 13003046core:ShareCapitalcore:PreviouslyStatedAmount2024-11-30 13003046core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 13003046core:RevaluationReservecore:PreviouslyStatedAmount2024-11-30 13003046core:RevaluationReservecore:PreviouslyStatedAmount2023-11-30 13003046core:CapitalContributionReservecore:PreviouslyStatedAmount2024-11-30 13003046core:CapitalContributionReservecore:PreviouslyStatedAmount2023-11-30 13003046core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-11-30 13003046core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 13003046core:PreviouslyStatedAmount2024-11-30 13003046core:PreviouslyStatedAmount2023-11-30 13003046business:SmallEntities2023-12-012024-11-30 13003046countries:EnglandWales2023-12-012024-11-30 13003046core:MotorVehicles2023-12-012024-11-30 13003046core:MotorVehicles2023-11-30 13003046core:MotorVehicles2024-11-30 13003046core:AfterOneYear2023-12-012024-11-30 13003046business:OrdinaryShareClass12023-12-012024-11-30 13003046business:OrdinaryShareClass12022-12-012023-11-30 130030462022-12-012023-11-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 13003046 (England and Wales)
LINCOLN DEVELOPMENTS LTD Unaudited accounts for the year ended 30 November 2024
LINCOLN DEVELOPMENTS LTD Unaudited accounts Contents
Page
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LINCOLN DEVELOPMENTS LTD Company Information for the year ended 30 November 2024
Directors
Scott Gregory Joe Good
Company Number
13003046 (England and Wales)
Registered Office
112 -113 High Street LINCOLN LN5 7PY ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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LINCOLN DEVELOPMENTS LTD Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,200 
- 
Investment property
200,000 
200,000 
203,200 
200,000 
Current assets
Inventories
415,061 
347,433 
Debtors
150,000 
195,868 
Cash at bank and in hand
6,200 
258,558 
571,261 
801,859 
Creditors: amounts falling due within one year
(22,257)
(9,745)
Net current assets
549,004 
792,114 
Total assets less current liabilities
752,204 
992,114 
Creditors: amounts falling due after more than one year
(490,000)
(813,167)
Net assets
262,204 
178,947 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
50,000 
50,000 
Capital contribution reserve
260,000 
399,899 
Profit and loss account
(47,896)
(271,052)
Shareholders' funds
262,204 
178,947 
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 31 August 2025 and were signed on its behalf by
Joe Good Director Company Registration No. 13003046
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LINCOLN DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
LINCOLN DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 13003046. The registered office is 112 -113 High Street, LINCOLN, LN5 7PY, 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.
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets 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:
Motor vehicles
20% Reducing balance
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LINCOLN DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 December 2023
- 
Additions
4,000 
At 30 November 2024
4,000 
Depreciation
Charge for the year
800 
At 30 November 2024
800 
Net book value
At 30 November 2024
3,200 
5
Investment property
2024 
£ 
Fair value at 1 December 2023
200,000 
At 30 November 2024
200,000 
(Appraisers UK - Licenced Valuer's), Bristol. Avon. The investment property valuation was carried out by the above company and as at November 2022 had a market value of some £200,000 No revaluation has been carried out since November 2022, therefore the property value remains the same in these current financial statements to November 2024.
6
Inventories
2024 
2023 
£ 
£ 
Raw materials
- 
163,000 
Work in progress
415,061 
184,433 
415,061 
347,433 
W.I.P. The remaining Work in Progress at the Fiskerton site comprise of: Plot 3. Plot 9. the cost to date £415,061
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
45,868 
Amounts falling due after more than one year
150,000 
150,000 
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LINCOLN DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,313 
- 
Taxes and social security
14,544 
4,345 
Other creditors
4,500 
4,500 
Accruals
900 
900 
22,257 
9,745 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
490,000 
813,167 
The company has a legal charge registered in favour of the investor at companies house over the property under land titles LL21791 & LL22725 This loan has an agreed term of 3 years and can be extended if so requested by the borrower. This investor has a charge registered at companies house in relation to land title LL313642 The loan has a repayment term of 3 years which can be extended, based on 1/3 plus interest to be remitted on the completion and sale of each phase of the project.
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Capital contribution reserve
The capital contribution as at November 30th 2024 comprises of the following: Joe Good (personal) Investment £30,000 S&C Letting & Developments Ltd £30,000 Scott Gregory (personal) investment £200,000 Total of contributions as at the Y.E. £260,000
12
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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