REGISTERED NUMBER: 07985513 (England and Wales)

Unaudited Financial Statements

for the Period

6 April 2025 to 31 March 2026

for

Lincoln Commercial Bodies Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S P Knaggs

Mrs N Knaggs

REGISTERED OFFICE:

LCB House

Crofton Close

Lincoln

LN3 4NT

REGISTERED NUMBER:

07985513 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

5

1,873,174

1,860,194

CURRENT ASSETS

Stocks

796,775

1,080,326

Debtors

6

892,098

1,238,404

Cash at bank

3,042,596

2,548,537

4,731,469

4,867,267

CREDITORS

Amounts falling due within one year

7

983,589

1,332,286

NET CURRENT ASSETS

3,747,880

3,534,981

TOTAL ASSETS LESS CURRENT LIABILITIES

5,621,054

5,395,175

CREDITORS

Amounts falling due after more than one year

8

(80,759

)

(146,498

)

PROVISIONS FOR LIABILITIES

(78,398

)

(87,465

)

NET ASSETS

5,461,897

5,161,212

CAPITAL AND RESERVES

Called up share capital

10

10

10

Retained earnings

5,461,887

5,161,202

SHAREHOLDERS' FUNDS

5,461,897

5,161,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

S P Knaggs - Director

1.	STATUTORY INFORMATION

Lincoln Commercial Bodies Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

3.1 Basis of preparing the financial statements

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

3.2 Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors are of the opinion that the Company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.3 Significant judgements and estimates

Judgements

In preparing the financial statements, management is required to apply judgement and make estimates and assumptions that impact the reported figures. These judgements and estimates are reviewed on an ongoing basis and are based on past experience and other relevant factors, including expectations of future events considered reasonable in the circumstances. Actual results may differ from these estimates where different assumptions are applied or conditions change. During the year, no material judgements were made by management in applying the company’s accounting policies, other than those involving estimation.

Key sources of estimation uncertainty

Estimates and underlying assumptions are based on expectations of future events and, by their nature, may not match actual outcomes. The following are the principal areas of estimation uncertainty that carry a significant risk of resulting in a material adjustment to the carrying values of assets and liabilities within the next financial year:

Depreciation Charges

Depreciation is calculated based on estimates of the useful economic lives and residual values of tangible fixed assets. These estimates are subject to periodic review by the directors to ensure they remain appropriate, taking into account both internal considerations and external market factors.

Work in progress Valuation

Work in progress is valued based on the stage of completion of individual projects that are ongoing at the year end. The level of completion is determined through inspections at relevant stages of each project, together with the application of judgement by the directors.

3.4 Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the customer. This typically occurs at the point the goods are delivered and accepted, evidenced by customer receipt confirmation.

Rendering of services

Turnover from the provision of services is recognised by reference to the stage of completion of the contract. The stage of completion is determined by comparing costs incurred to date with the total estimated costs of the contract. Where the outcome of a contract cannot be measured reliably, turnover is recognised only to the extent of costs incurred that are expected to be recoverable.

3.5 Tangible fixed assets

Tangible fixed assets are stated at cost, less accumulated depreciation and any impairment losses.

Depreciation is charged so as to allocate the cost of assets, net of estimated residual value, over their anticipated useful economic lives, using the following rates and methods:

Freehold

1% Straight Line

Plant & Machinery

20% Straight Line

Motor Vehicles

20% Straight Line

Fixtures & Fittings

20% Straight Line

Computer Equipment

20% Straight Line

3.6 Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

3.7 Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.8 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 period 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.

3.9 Hire purchase and leasing commitments

Assets held under finance leases are recognised as tangible fixed assets at the commencement of the lease. Such assets are depreciated over the shorter of the lease term and their estimated useful economic lives. Assets acquired under hire purchase agreements are depreciated over their useful lives.

Finance leases are those arrangements where substantially all of the risks and rewards of ownership are transferred to the company. The related obligations are included within creditors, net of finance charges allocated to future periods. The finance element of lease payments is recognised in the profit and loss account so as to achieve a constant periodic rate of interest on the outstanding liability.

Lease payments under operating leases, where the risks and rewards of ownership remain with the lessor, are recognised in the profit and loss account on a straight-line basis over the term of the lease.

3.10 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.

3.11 Employee benefits

The costs of short-term employee benefits are recognised as an expense and a corresponding liability as the employees provide their services, unless those costs are required to be included in the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are rendered.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to either terminate the employment of an employee or provide termination benefits.

3.12 Trade debtors

Trade debtors represent amounts due from customers for goods supplied or services rendered in the normal course of business.

Trade debtors are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. An impairment provision is recognised where there is objective evidence that the company will be unable to collect all amounts due in accordance with the original terms of the receivables.

3.13 Trade Creditors

Trade creditors are amounts owed for goods or services purchased in the ordinary course of business from suppliers.

Trade creditors are classified as current liabilities where the company does not have an unconditional right at the reporting date to defer settlement for at least twelve months. Where such a right exists, they are presented as non-current liabilities.

Trade creditors are initially recognised at the transaction price and subsequently measured at amortised cost using the effective interest method.

3.14 Borrowings

Interest-bearing borrowings are initially recognised at fair value, net of directly attributable transaction costs. They are subsequently measured at amortised cost, with any difference between the net proceeds and the amount repayable recognised in the profit and loss account over the term of the borrowing.

Interest expense is recognised using the effective interest method and is included within interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement for at least twelve months after the reporting date.

3.15 Share capital

Ordinary shares are classified as equity.

Equity instruments are measured at the fair value of the proceeds received or receivable, net of the direct costs associated with their issue. Where payment is deferred and the impact of the time value of money is material, the initial measurement is based on present value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 45 (2025 - 43 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Buildings

machinery

fittings

£

£

£

COST

At 6 April 2025

1,609,252

261,273

18,139

Additions

16,346

50,637

531

Disposals

-

(46,477

)

(371

)

At 31 March 2026

1,625,598

265,433

18,299

DEPRECIATION

At 6 April 2025

125,384

151,647

11,943

Charge for period

16,250

43,214

2,388

Eliminated on disposal

-

(37,935

)

(245

)

At 31 March 2026

141,634

156,926

14,086

NET BOOK VALUE

At 31 March 2026

1,483,964

108,507

4,213

At 5 April 2025

1,483,868

109,626

6,196

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 6 April 2025

346,088

18,677

2,253,429

Additions

94,175

6,901

168,590

Disposals

-

(4,179

)

(51,027

)

At 31 March 2026

440,263

21,399

2,370,992

DEPRECIATION

At 6 April 2025

92,181

12,080

393,235

Charge for period

81,382

3,267

146,501

Eliminated on disposal

-

(3,738

)

(41,918

)

At 31 March 2026

173,563

11,609

497,818

NET BOOK VALUE

At 31 March 2026

266,700

9,790

1,873,174

At 5 April 2025

253,907

6,597

1,860,194

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

424,381

920,017

Other debtors

467,717

318,387

892,098

1,238,404

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

103,210

Hire purchase contracts (see note 9)

55,333

4,208

Trade creditors

547,726

592,115

Taxation and social security

254,989

462,381

Other creditors

125,541

170,372

983,589

1,332,286

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

69,766

Hire purchase contracts (see note 9)

80,759

76,732

80,759

146,498

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2026

2025

£

£

Net obligations repayable:

Within one year

55,333

4,208

Between one and five years

80,759

76,732

136,092

80,940

Hire purchase is denominated in £ with a nominal interest rate of market rate, and the final instalment is due in July 2029.

The carrying amount at year end is £136,092 (2025 - £80,940).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

10

Ordinary Shares

£1

10

10

11.	RELATED PARTY DISCLOSURES

Associated company transactions

At the year end the company is due £310,070 (2025: £310,028) from Lincoln Commercial Bodies Property Ltd. During the year rent has been expensed for associated services provided by Lincoln Commercial Bodies Property Ltd.

At the year end the company is due £56,804 (2025: owed £23,196) from SKWR Management Limited.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is S P Knaggs.