Lincs Joinery Services Limited - Accounts to registrar (filleted) - small 22.3

Lincs Joinery Services Limited - Accounts to registrar (filleted) - small 22.3


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REGISTERED NUMBER: 05258704 (England and Wales)

















LINCS JOINERY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LINCS JOINERY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: M A Sharpe
Mrs D Sharpe
J A Hawley





SECRETARY: Mrs D Sharpe





REGISTERED OFFICE: 2 Wrights Way
Outer Circle Road
Lincoln
Lincolnshire
LN2 4JY





REGISTERED NUMBER: 05258704 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

ABRIDGED BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 92,932 95,032
92,932 95,032

CURRENT ASSETS
Debtors 346,128 244,749
Cash at bank 272,881 400,861
619,009 645,610
CREDITORS
Amounts falling due within one year 213,451 264,214
NET CURRENT ASSETS 405,558 381,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

498,490

476,428

CREDITORS
Amounts falling due after more than one year (5,874 ) (11,754 )

PROVISIONS FOR LIABILITIES (17,740 ) (18,056 )
NET ASSETS 474,876 446,618

CAPITAL AND RESERVES
Called up share capital 1,050 1,050
Retained earnings 473,826 445,568
474,876 446,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by:





Mrs D Sharpe - Director


LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Lincs Joinery Services Limited 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. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Grants relating to revenue must be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grants which become receivable as compensation for expenses or losses already incurred or the the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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.

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021
and 31 March 2022 118,952
AMORTISATION
At 1 April 2021
and 31 March 2022 118,952
NET BOOK VALUE

At 31 March 2022 -
At 31 March 2021 -

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2021 200,899
Additions 18,815
At 31 March 2022 219,714
DEPRECIATION
At 1 April 2021 105,867
Charge for year 20,915
At 31 March 2022 126,782
NET BOOK VALUE
At 31 March 2022 92,932
At 31 March 2021 95,032

LINCS JOINERY SERVICES LIMITED (REGISTERED NUMBER: 05258704)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2021 106,765
Additions 12,500
At 31 March 2022 119,265
DEPRECIATION
At 1 April 2021 40,045
Charge for year 15,844
At 31 March 2022 55,889
NET BOOK VALUE
At 31 March 2022 63,376
At 31 March 2021 66,720

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
J A Hawley
Balance outstanding at start of year 2,523 (7,328 )
Amounts advanced 88,857 52,452
Amounts repaid (82,648 ) (42,601 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,732 2,523

M A Sharpe
Balance outstanding at start of year - -
Amounts advanced 46,233 -
Amounts repaid (43,450 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,783 -

All advances made to directors are unsecured, repayable on demand and with no interest charged.