Lincoln Finance Shop Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03103554

Lincoln Finance Shop Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Lincoln Finance Shop Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4	265,000	265,000
Investments	5	50,000	50,000
		---------	---------
		315,000	315,000

Current assets

Debtors	6	431,312	435,313
Investments	7	424,799	417,242
Cash at bank and in hand		87,342	97,940
		---------	---------
		943,453	950,495

Creditors: amounts falling due within one year	8	1,063		3,859
		---------		---------
Net current assets			942,390	946,636
			------------	------------
Total assets less current liabilities			1,257,390	1,261,636

Provisions

Taxation including deferred tax	55,835	55,459
	------------	------------
Net assets	1,201,555	1,206,177
	------------	------------

Capital and reserves

Called up share capital	5,000	5,000
Capital redemption reserve	3,850	3,850
Profit and loss account	1,192,705	1,197,327
	------------	------------
Shareholders funds	1,201,555	1,206,177
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lincoln Finance Shop Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

P F Tutin

Director

Company registration number: 03103554

Lincoln Finance Shop Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. These accounts contain information relating to this company only and not the group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Investment properties
	£
Cost or valuation
At 1 April 2024 and 31 March 2025	265,000
	---------
Depreciation
At 1 April 2024 and 31 March 2025	–
	---------
Carrying amount
At 31 March 2025	265,000
	---------
At 31 March 2024	265,000
	---------

Tangible assets held at valuation

On 5 August 2024 the investment property was valued at an open market value of £265,000 by Scotts Property LLP, RICS registered valuers. The directors consider the open market value is subsequently unchanged.

5. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	50,000
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	50,000
	--------
At 31 March 2024	50,000
	--------

The company owns 100% of the issued share capital in Streets Financial Consulting Plc, a financial services company incorporated in England.

6. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	426,000	430,000
Other debtors	5,312	5,313
	---------	---------
	431,312	435,313
	---------	---------

7. Investments

	2025	2024
	£	£
Listed investments	424,799	417,242
	---------	---------

Current asset available-for-sale investments are included at market value at the balance sheet date.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	1,063	3,859
	-------	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	55,835	55,459
	--------	--------

The directors have recognised a £20,793 (2024: £20,793) deferred tax liability in respect of corporation tax that would be payable had the company sold its freehold investment property at open market value at the reporting date. The directors have recognised a £35,042 (2024: £34,666) deferred tax liability in respect of corporation tax that would be payable had the company sold its current asset investment portfolio at the reporting date.

10. Contingencies

A guarantee is in place between the company and certain other Streets entities in respect of any debts and liabilities of all parties to National Westminster Bank plc.

11. Related party transactions

The company is controlled by the partners of Streets Management Services, a professional practice partnership. The partners of Streets Management Services also control a number of limited liability partnerships and limited companies. During the reporting period, the directors of Lincoln Finance Shop Limited have agreed to discharge and release its subsidiary, Streets Financial Consulting Limited, from any obligation to repay £34,000 of the intercompany debt. The balance owing to the company by Streets Financial Consulting Limited as at 31 March 2025 was £426,000 (2024: £430,000).