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Company registration number:
11119310
Ole Ole Lincoln Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2025
Total Lincoln Limited
The Garden House, 6 Salisbury Close, Saxilby, Lincoln, Lincolnshire, LN1 2FS, United Kingdom
Ole Ole Lincoln Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Ole Ole Lincoln Limited
Year ended
31 December 2025
As described on the statement of financial position, the Board of Directors of
Ole Ole Lincoln Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2025
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Total Lincoln Limited
The Garden House, 6 Salisbury Close
Saxilby
Lincoln
Lincolnshire
LN1 2FS
United Kingdom
Date:
14 September 2026
Ole Ole Lincoln Limited
Statement of Financial Position
31 December 2025
20252024
Note££
Fixed assets    
Tangible assets 5
177,240
 
193,561
 
Current assets    
Stocks
19,680
 
19,495
 
Debtors 6
55,400
 
15,422
 
Cash at bank and in hand
137,992
 
95,530
 
213,072
 
130,447
 
Creditors: amounts falling due within one year 7
26,167
 
(110,968
 )
Net current assets
239,239
 
19,479
 
Total assets less current liabilities 416,479   213,040  
Capital and reserves    
Called up share capital
400
 
400
 
Profit and loss account
416,079
 
212,640
 
Shareholders funds
416,479
 
213,040
 
For the year ending
31 December 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
14 September 2026
, and are signed on behalf of the board by:
A Mills
Director
Company registration number:
11119310
Ole Ole Lincoln Limited
Notes to the Financial Statements
Year ended
31 December 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3 Inglemans Place
,
The Lawn, Union Road
,
Lincoln
,
LN1 3BU
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Transition to FRS 102

With effect from 1 January 2025, the company has prepared its financial statements in accordance with FRS 102 Section 1A, having previously prepared its financial statements in accordance with FRS 105.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Reducing Balance - 20%
Plant and machinery
Reducing Balance - 20%
Fixtures and fittings
Reducing Balance - 20%
Office equipment
Reducing Balance - 20%
Motor vehicles
Reducing Balance - 20%

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
45
(2024:
42.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2025
5,930
 
309,003
 
314,933
 
Additions -  
40,055
 
40,055
 
Disposals -  
(30,270
 )
(30,270
 )
At
31 December 2025
5,930
 
318,788
 
324,718
 
Depreciation      
At
1 January 2025
3,112
 
118,260
 
121,372
 
Charge
564
 
42,802
 
43,366
 
Disposals -  
(17,260
 )
(17,260
 )
At
31 December 2025
3,676
 
143,802
 
147,478
 
Carrying amount      
At
31 December 2025
2,254
 
174,986
 
177,240
 
At 31 December 2024
2,818
 
190,743
 
193,561
 

6 Debtors

20252024
££
Trade debtors
1,169
 
2,250
 
Other debtors
54,231
 
13,172
 
55,400
 
15,422
 

7 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
196,703
 
76,681
 
Trade creditors
81,844
 
42,606
 
Taxation and social security
170,228
 
157,039
 
Other creditors
(474,942
 )
(165,358
 )
(26,167
 )
110,968
 

8 Operating leases

The company as lessee    
20252024
££
Not later than 1 year
43,800
 
0.00
 
Later than 1 year and not later than 5 years
175,200
 
0.00
 
Later than 5 years
119,888
 
0.00
 
338,888
 - 

10 Alison Mills a director of this company, is also a director of Ole Ole Tapas Bar and Restaurant Ltd.

11 Alison Mills, a director and shareholder of the company, and Coralia, Luis and Amador Jr, shareholders of the company, are related parties. During the year, transactions took place between the company and these related parties.