REGISTERED NUMBER: 04454558 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

NORTH EAST LINCOLNSHIRE PROPERTIES

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Ramsden

M N Ramsden

REGISTERED OFFICE:

Mayrhofen

Holton Road

Tetney

GRIMSBY

DN36 5PB

REGISTERED NUMBER:

04454558 (England and Wales)

ACCOUNTANTS:

Smethurst & Co

12 Abbey Road

GRIMSBY

DN32 0HL

FIXED ASSETS

Investments

4

10

10

Investment property

5

1,938,332

1,938,332

1,938,342

1,938,342

CURRENT ASSETS

Stocks

6

1,514,026

1,215,407

Debtors

7

1,415

6,708

Cash at bank

430,642

81,192

1,946,083

1,303,307

CREDITORS

Amounts falling due within one year

8

1,025,153

730,932

NET CURRENT ASSETS

920,930

572,375

TOTAL ASSETS LESS CURRENT LIABILITIES

2,859,272

2,510,717

CREDITORS

Amounts falling due after more than one year

9

(1,200,472

)

(950,472

)

PROVISIONS FOR LIABILITIES

(170,403

)

(148,908

)

NET ASSETS

1,488,397

1,411,337

CAPITAL AND RESERVES

Allotted, called up and

fully paid share capital

6

6

Profit and loss account - undistributable

551,880

573,375

Profit and loss account

936,511

837,956

1,488,397

1,411,337

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J J Ramsden - Director

1.	STATUTORY INFORMATION

North East Lincolnshire Properties 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.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value, excluding value added tax, of rental income receivable on investment properties and of property sales measured at the point of the exchange of contracts.

Investment property

Investment properties are revalued annually and any surplus or deficit arising from changes in fair values recognised in the profit and loss account. No depreciation is is provided in respect of investment properties.

Investment in financial assets

Investments in unlisted companies are recognised at cost less impairment.

Work in progress

Work in progress is valued at the lower of cost and estimated selling price.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Debtors and creditors

Debtors and creditors with no interest rate and receivable or payable within one year are recognised at transaction price. And losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings which are basic financial instruments are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar investment.

Loans payable to a director and shareholder of the company and their close family which are basic financial instruments are recognised at transaction price in accordance with paragraph 1.15A of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

10

NET BOOK VALUE

At 31 March 2025

10

At 31 March 2024

10

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,938,332

NET BOOK VALUE

At 31 March 2025

1,938,332

At 31 March 2024

1,938,332

The investment properties were valued at fair value at 31 March 2025 by the director J J Ramsden. The historical cost of the investment properties is £1,216,049 (2024: £1,216,049).

6.

STOCKS

31.3.25

31.3.24

£

£

Work-in-progress

1,514,026

1,215,407

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

1,415

6,708

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

313,244

11,291

Social security and other taxes

57,871

13,096

Other creditors

17,333

32,871

Directors' loan accounts

133,262

158,165

Accruals and deferred income

503,443

515,509

1,025,153

730,932

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

100,472

100,472

Other loans - 1-2 years

1,100,000

850,000

1,200,472

950,472

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

100,472

100,472

The bank loans are secured by charges over 39 Winteringham Road, Grimsby and 84 Daubney Street, Cleethorpes.

11.	RELATED PARTY DISCLOSURES

Each director used a loan account with the company to record amounts owed to them. The balances at the end of the year were as follows:

J J Ramsden, included in creditors due within one year £66,931 (2024: £87,334)

M N Ramsden, included in creditors due within one year £66,331 (2024: £70,831)

Loans from shareholders were repaid during the year. The balances at 31 March 2024 were £9,000 payable to J N Ramsden and £4,000 payable to N E Ramsden.

Included in creditors due after more than one year is a loan from Retsco Limited, a company in which the directors J J Ramsden and M N Ramsden are also directors. The balance on the loan at the end of the year was £650,000 (2024: £500,000). Interest of £15,996 (2024: £12,397) was payable to Retsco Limited on a commercial basis during the year.