Lincolnshire Energy Development Limited Filleted accounts for Companies House (small and micro)

LINCOLNSHIRE ENERGY DEVELOPMENT LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2019-10-01 Sage Accounts Production Advanced 2020 - FRS102_2019 164,288 48,352 6,544 54,896 109,392 xbrli:pure xbrli:shares iso4217:GBP 07485821 2019-10-01 2020-09-30 07485821 2020-09-30 07485821 2019-09-30 07485821 2019-09-30 07485821 bus:Director1 2019-10-01 2020-09-30 07485821 core:PlantMachinery 2019-09-30 07485821 core:PlantMachinery 2020-09-30 07485821 core:WithinOneYear 2020-09-30 07485821 core:WithinOneYear 2019-09-30 07485821 core:ShareCapital 2020-09-30 07485821 core:ShareCapital 2019-09-30 07485821 core:SharePremium 2020-09-30 07485821 core:SharePremium 2019-09-30 07485821 core:RetainedEarningsAccumulatedLosses 2020-09-30 07485821 core:RetainedEarningsAccumulatedLosses 2019-09-30 07485821 core:PlantMachinery 2019-10-01 2020-09-30 07485821 core:PlantMachinery 2019-09-30 07485821 bus:SmallEntities 2019-10-01 2020-09-30 07485821 bus:AuditExempt-NoAccountantsReport 2019-10-01 2020-09-30 07485821 bus:FullAccounts 2019-10-01 2020-09-30 07485821 bus:SmallCompaniesRegimeForAccounts 2019-10-01 2020-09-30 07485821 bus:PrivateLimitedCompanyLtd 2019-10-01 2020-09-30

COMPANY REGISTRATION NUMBER: 07485821

Lincolnshire Energy Development Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2020

Lincolnshire Energy Development Limited

Statement of Financial Position

30 September 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	4		109,392	115,935

Current assets

Debtors	5	56,333	28,320
Cash at bank and in hand		15,964	52,266
		---------	---------
		72,297	80,586

Creditors: amounts falling due within one year	6	564		4,465
		---------		---------
Net current assets			71,733	76,121
			----------	----------
Total assets less current liabilities			181,125	192,056

Provisions

Taxation including deferred tax	–	13,694
	----------	----------
Net assets	181,125	178,362
	----------	----------

Capital and reserves

Called up share capital	150	150
Share premium account	149,850	149,850
Profit and loss account	31,125	28,362
	----------	----------
Shareholders funds	181,125	178,362
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lincolnshire Energy Development Limited

Statement of Financial Position (continued)

30 September 2020

These financial statements were approved by the board of directors and authorised for issue on 25 February 2021 , and are signed on behalf of the board by:

A H Price

Director

Company registration number: 07485821

Lincolnshire Energy Development Limited

Notes to the Financial Statements

Year ended 30 September 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, Lincolnshire, LN1 1XW, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & Machinery	-	4% and 33% Straight Line

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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 October 2019 and 30 September 2020	164,288	164,288
	----------	----------
Depreciation
At 1 October 2019	48,352	48,352
Charge for the year	6,544	6,544
	----------	----------
At 30 September 2020	54,896	54,896
	----------	----------
Carrying amount
At 30 September 2020	109,392	109,392
	----------	----------
At 30 September 2019	115,936	115,936
	----------	----------

5. Debtors

	2020	2019
	£	£
Trade debtors	12,911	28,027
Amounts owed by group undertakings and undertakings in which the company has a participating interest	43,422	–
Other debtors	–	293
	---------	---------
	56,333	28,320
	---------	---------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	–	3,600
Social security and other taxes	564	640
Other creditors	–	225
	----	-------
	564	4,465
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