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Registered number: 14144554
LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
UNAUDITED
ANNUAL REPORT
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
COMPANY INFORMATION
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Cooper Parry Advisory Limited
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
REGISTERED NUMBER: 14144554
BALANCE SHEET
AS AT 31 OCTOBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Shareholders' funds/(deficit)
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The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the 17 month period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 6 form part of these financial statements.
Page 1
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
1.Accounting policies
Lincolnshire Commercial Enterprise Limited is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is 4brothers House, Wilsthorpe Road. Long Eaton, Nottingham, NG10 3LE.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the 17 month period ended 31 October 2025 (2024: 12 month period ended 31 May 2024).
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the the time of signing these accounts, the directors have considered the going concern position and consider that this indicates that the company will continue to trade for a period of at least 12 months from the date of signing these accounts.
On that basis, the directors have prepared these accounts on a going concern basis.
Rental income is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be reliably measured. Rental is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income is received from investment properties and is recognised on an accruals basis for the duration of the contract.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
Page 2
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
1.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the 17 month period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investment property is carried at fair value determined annually by the directors based on advice received from professional surveyors and also derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account and transferred to the investment property revaluation reserve in the statement of changes in equity.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans with related parties.
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets' carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
Page 3
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
1.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including directors, during the 17 month period was 3 (2024 12 month period: 3).
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As restated
Investment land and property
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As restated at 1 June 2024
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Prior period restatement
The prior periods fixed assets have been reclassified into investment land and property to reflect the true nature of the properties held. This has had no impact on the overall net assets, profit and loss account or shareholders' funds.
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Investment properties were valued at fair value at the year end by the directors, based on advice received from professional surveyors.
Page 4
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
4.Debtors (continued)
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Creditors: Amounts falling due within one year
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A new bank loan was drawn down during the period and is secured and supported by the following assets:
∙A legal charge over the investment property;
∙A debenture incorporating a fixed charge over all current and future assets of the company and a
negative pledge arrangement;
∙Personal guarantee of £75,000 in total (2024: £Nil) from R L Bhardwaj and P Patel.
Interest is charged at 3% over base rate and repayment is repayable in full in July 2026.
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Credited to the profit and loss account
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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Page 5
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LINCOLNSHIRE COMMERCIAL ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 17 MONTH PERIOD ENDED 31 OCTOBER 2025
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Allotted, called up and fully paid
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100 (2024: 100) Ordinary shares of £1.00 each
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Profit and loss account
The profit and loss account represents accumulated profits and losses for prior periods less dividends paid.
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Related party transactions
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Amounts due from directors
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Amounts due to companies in which a director or close family member has significant interest
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Amounts due from companies in which a director or close family member has significant interest
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Amounts due to and from the directors are interest free, unsecured and have no fixed repayment date.
The amounts due to and from companies in which a director has a significant interest are interest free, unsecured and have no fixed repayment date.
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It is considered that there is no ultimate controlling party as both shareholders own 50% of the share capital.
Page 6
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