Lin Properties (Service) Limited Accounts

LIN PROPERTIES (SERVICE) LIMITED - Company Information






Lin Properties (Service) Limited

	Company No. 00911857
		Information for Filing with The Registrar
		31 March 2022

The Director presents his report and the accounts for the year ended 31 March 2022.

Principal activities
The principal activity of the company during the year under review was .




Director

The Director who served at any time during the year was as follows:

R. Kendle





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

R. Kendle
Director
17 May 2022

at	31 March 2022
Company No.		00911857	Notes	2022	2021
				£	£
Fixed assets


	Investment property		4	1,629,949	1,440,500

				1,629,949	1,440,500
Current assets

	Debtors		5	1,487	653

	Cash at bank and in hand			34,814	170,139
				36,301	170,792
Creditors: Amount falling due within one year			6	(26,863)	(9,062)
Net current assets				9,438	161,730
Total assets less current liabilities				1,639,387	1,602,230
Creditors: Amounts falling due after more than one year			7	(160,000)	(160,000)
Provisions for liabilities
	Deferred taxation		8	(123,881)	(123,881)

Net assets				1,355,506	1,318,349

Capital and reserves
	Called up share capital			100	100

	Revaluation reserve		9	493,377	493,377

	Profit and loss account		9	862,029	824,872

Total equity				1,355,506	1,318,349



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit 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 accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 17 May 2022
And signed on its behalf by:
R. Kendle
Director
17 May 2022

for the year ended 31 March 2022

General information

Its registered number is: 00911857

Its registered office is:

Room 2, 1st Floor

7 Blighs Walk

Sevenoaks

Kent

TN13 1DB

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	2	2

4	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 April 2021	1,440,500
		Additions	189,449


		At 31 March 2022	1,629,949

5	Debtors
			2022	2021
			£	£
		Trade debtors	341	398






		Prepayments and accrued income	1,146	255
			1,487	653

6	Creditors:
		amounts falling due within one year
			2022	2021
			£	£






		Corporation tax	8,731	6,458

		Loans from directors	15,000	-
		Other creditors	1,772	-
		Accruals and deferred income	1,360	2,604
			26,863	9,062

7	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£

		Bank loans and overdrafts	160,000	160,000






			160,000	160,000

8	Provisions for liabilities
		Deferred taxation

				Arising from revaluation	Total
				£	£
		At 1 April 2021		123,881	123,881


		At 31 March 2022		123,881	123,881



			2022		2021
			£		£


		Revaluation of land and buildings	123,881		123,881

			123,881		123,881

9	Reserves
			Revaluation Reserve	Total other reserves
			£	£
		At 1 April 2020	528,198	528,198
		Movement on revaluation reserve	(34,821)	(34,821)


		At 31 March 2021 and 1 April 2021	493,377	493,377



		At 31 March 2022	493,377	493,377

		Revaluation reserve - reflects the revaluation of property other than investment properties.


		Profit and loss account - includes all current and prior period retained profits and losses.

10	Related party disclosures
				2022
		Transactions with related parties		£

		Name of related party	Mr & Mrs Kendle


		Amount due from/(to) the related party		15,000