REGISTERED NUMBER: 07324974 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LYNCHPIN PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J P De Haan

REGISTERED OFFICE:

The Workshop

32-40 Tontine Street

Folkestone

Kent

CT20 1JU

REGISTERED NUMBER:

07324974 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Invicta Business Centre

Monument Way

Orbital Park

Ashford

Kent

TN24 0HB

FIXED ASSETS

Tangible assets

5

-

-

Investment property

6

2,904,000

2,904,000

2,904,000

2,904,000

CURRENT ASSETS

Debtors

7

1,270,753

1,225,347

Cash at bank

37,826

70,703

1,308,579

1,296,050

CREDITORS

Amounts falling due within one year

8

3,894,499

3,898,610

NET CURRENT LIABILITIES

(2,585,920

)

(2,602,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

318,080

301,440

CREDITORS

Amounts falling due after more than one year

9

2,937

9,555

NET ASSETS

315,143

291,885

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

315,043

291,785

315,143

291,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2025 and were signed by:

J P De Haan - Director

1.	STATUTORY INFORMATION

Lynchpin Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on a straight line basis

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

Despite the difficult trading conditions the director is still of the opinion that the company remains a going concern. Therefore the accounts have been prepared on the going concern basis. It should also be noted that it is not the present intention of the company's main lender, the director, to demand repayment of the outstanding loan of £3.86 million within a period of 12 months from the date of these accounts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

140,678

DEPRECIATION

At 1 January 2024

and 31 December 2024

140,678

NET BOOK VALUE

At 31 December 2024

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

2,904,000

NET BOOK VALUE

At 31 December 2024

2,904,000

At 31 December 2023

2,904,000

Included in fair value of investment property is freehold land of £ 592,384 (2023 - £ 592,384 ) which is not depreciated.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2016

(1,469,275

)

Valuation in 2018

109,000

Cost

4,264,275

2,904,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

4,264,275

4,264,275

The property was valued on an open market basis on 21 May 2019 by Smith Wooley, Chartered Surveyors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

486,557

443,416

Other debtors

784,196

781,931

1,270,753

1,225,347

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,964

7,132

Trade creditors

7,450

10,278

Taxation and social security

652

-

Other creditors

3,879,433

3,881,200

3,894,499

3,898,610

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

2,937

9,555