REGISTERED NUMBER: 10998392 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

LNC Property Development Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Collingham

L Collingham

REGISTERED OFFICE:

Unit 2 Lindrick Way

Barlborough

Chesterfield

S43 4XE

REGISTERED NUMBER:

10998392 (England and Wales)

FIXED ASSETS

Tangible assets

4

486,130

182,435

CURRENT ASSETS

Stocks

2,650,000

819,788

Debtors

5

2,844,058

1,901,100

Cash at bank

1,313,164

1,785,568

6,807,222

4,506,456

CREDITORS

Amounts falling due within one year

6

4,892,589

3,354,256

NET CURRENT ASSETS

1,914,633

1,152,200

TOTAL ASSETS LESS CURRENT LIABILITIES

2,400,763

1,334,635

CREDITORS

Amounts falling due after more than one year

7

(1,297,238

)

(653,422

)

PROVISIONS FOR LIABILITIES

(84,395

)

(43,071

)

NET ASSETS

1,019,130

638,142

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,019,030

638,042

1,019,130

638,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

L Collingham - Director

1.	STATUTORY INFORMATION

LNC Property Development 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

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

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Amounts recoverable on contracts

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. The Company uses the 'percentage of completion method' to determine the appropriate amount to recognise in a given period. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be based on the expected total contract revenues and costs to be estimated based on the current progress of the contract. If a contract is expected to be loss-making, a provision is recognised for the entire 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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

266,219

Additions

398,895

Disposals

(19,989

)

At 31 March 2025

645,125

DEPRECIATION

At 1 April 2024

83,784

Charge for year

86,202

Eliminated on disposal

(10,991

)

At 31 March 2025

158,995

NET BOOK VALUE

At 31 March 2025

486,130

At 31 March 2024

182,435

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,512,784

1,821,515

Other debtors

331,274

79,585

2,844,058

1,901,100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

135,565

339,341

Hire purchase contracts

72,631

43,903

Trade creditors

3,112,270

1,897,418

Taxation and social security

225,609

145,544

Other creditors

1,346,514

928,050

4,892,589

3,354,256

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,095,489

631,169

Hire purchase contracts

201,749

22,253

1,297,238

653,422

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

452,029

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

274,380

66,156

The hire purchase contracts are secured over the assets to which they relate.