Linstock Castle AD Limited


Directors	WANNOP, Alistair George Milne
	WANNOP, Julie Christine


Registered Address	Linstock Castle
	Linstock
	Carlisle
	CA6 4PZ


Registered Number	07291844 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Assets held under finance leases are depreciated in the same manner as owned assets. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Assets held under finance leases are depreciated in the same manner as owned assets.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	5	25
Vehicles	15	-
Office Equipment	15	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. 

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other 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.

Trade and other 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.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 24	-	3,965,138	11,193	3,271	3,979,602
Additions	464,480	134,000	-	-	598,480
Disposals	-	(2,863)	-	-	(2,863)
At 31 December 24	464,480	4,096,275	11,193	3,271	4,575,219
Depreciation and impairment
At 01 January 24	-	1,254,328	5,350	1,482	1,261,160
Charge for year	1,549	146,097	877	268	148,791
On disposals	-	(863)	-	-	(863)
At 31 December 24	1,549	1,399,562	6,227	1,750	1,409,088
Net book value
At 31 December 24	462,931	2,696,713	4,966	1,521	3,166,131
At 31 December 23	-	2,710,810	5,843	1,789	2,718,442

4.	Stocks

	2024	2023
	£	£
Raw materials and consumables	250,000	250,000
Total	250,000	250,000

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	248,664	337,570
Amounts owed by group undertakings	2,149,982	-
Other debtors	153,816	1,977,715
Prepayments and accrued income	57,138	47,936
Total	2,609,600	2,363,221

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	270,258	365,513
Bank borrowings and overdrafts	459,986	340,153
Finance lease and HP contracts	126,830	226,434
Other creditors	177,657	41,374
Accrued liabilities and deferred income	3,389	3,135
Total	1,038,120	976,609


	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. The bank loan and overdraft are secured upon property personally owned by the directors as well as by a floating charge over the company's assets. The net obligations under hire purchase contracts are secured by the company on the assets to which the agreement relate.

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.  

The bank loan and overdraft are secured upon property personally owned by the directors as well as by a floating charge over the company's assets.

The net obligations under hire purchase contracts are secured by the company on the assets to which the agreement relate.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	1,588,267	1,783,000
Other creditors	1,061,252	479,127
Total	2,649,519	2,262,127


	The bank loan is secured upon property personally owned by the directors as well as by a floating charge over the company's assets. The net obligations under hire purchase contracts are secured by the company on the assets to which the agreements relate.

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	589,252		705,561

9.	Provisions for liabilities
	The provision for deferred tax is made up of £726,398 in respect of accelerated capital allowances and £33,108 in respect of tax losses.

	2024	2023
	£	£
Net deferred tax liability (asset)	693,289	609,141
Total	693,289	609,141

10.	Operating lease commitments
	At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £Nil (2023 – £1,560).

11.	Related party transactions
	The bank loan is secured upon property personally owned by the directors as well as by a floating charge over the company's assets. The company has met the expenses of first-time registration of directors' personal property at the Land Registry. During the year the directors had a joint loan account with the company. At 1 January 2024 the balance owed to the directors was £97,047. During the year the directors made repayments of £357,969 and received advances of £260,922. At 31 December 2024 the balance owing by the directors was £Nil.

11.

Related party transactions

The bank loan is secured upon property personally owned by the directors as well as by a floating charge over the company's assets. The company has met the expenses of first-time registration of directors' personal property at the Land Registry.

During the year the directors had a joint loan account with the company. At 1 January 2024 the balance owed to the directors was £97,047. During the year the directors made repayments of £357,969 and received advances of £260,922. At 31 December 2024 the balance owing by the directors was £Nil.

12.	Parent-subsidiary relationships
	Linstock Castle AD Limited is a wholly owned subsidiary of Linstock Castle Estates Limited. The registered office of Linstock Castle Estates Limited is Linstock Castle, Linstock, Carlisle, Cumbria, CA6 4PZ. As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		3,166,131		2,718,442
			3,166,131		2,718,442
Current assets
Stocks	4	250,000		250,000
Debtors	5	2,609,600		2,363,221
Cash at bank and on hand		-		14,963
		2,859,600		2,628,184
Creditors amounts falling due within one year	6	(1,038,120)		(976,609)
Net current assets (liabilities)			1,821,480		1,651,575
Total assets less current liabilities			4,987,611		4,370,017
Creditors amounts falling due after one year	7		(2,649,519)		(2,262,127)
Provisions for liabilities	9		(693,289)		(609,141)
Net assets			1,644,803		1,498,749
Capital and reserves
Called up share capital			2		2
Profit and loss account			1,644,801		1,498,747
Shareholders' funds			1,644,803		1,498,749