Newlincs Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06348899 (England and Wales)

NEWLINCS PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

C R Hill

SECRETARY:

Mrs L Hill

REGISTERED OFFICE:

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

REGISTERED NUMBER:

06348899 (England and Wales)

ACCOUNTANTS:

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newlincs Properties Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Newlincs Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newlincs Properties Limited and state those matters that we have agreed to state to the director of Newlincs Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Newlincs Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newlincs Properties Limited. You consider that Newlincs Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newlincs Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

9 November 2023

FIXED ASSETS

Tangible assets

4

16,326

25,778

Investment property

5

1,517,545

1,517,545

1,533,871

1,543,323

CURRENT ASSETS

Debtors

6

13,429

14,813

Cash at bank

179,343

111,982

192,772

126,795

CREDITORS

Amounts falling due within one year

7

582,748

576,111

NET CURRENT LIABILITIES

(389,976

)

(449,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,143,895

1,094,007

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,143,795

1,093,907

SHAREHOLDERS' FUNDS

1,143,895

1,094,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 November 2023 and were signed by:

C R Hill - Director

1.	STATUTORY INFORMATION

Newlincs Properties 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

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2022

and 30 June 2023

35,990

1,816

37,806

DEPRECIATION

At 1 July 2022

11,612

416

12,028

Charge for year

8,998

454

9,452

At 30 June 2023

20,610

870

21,480

NET BOOK VALUE

At 30 June 2023

15,380

946

16,326

At 30 June 2022

24,378

1,400

25,778

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

and 30 June 2023

1,517,545

NET BOOK VALUE

At 30 June 2023

1,517,545

At 30 June 2022

1,517,545

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

13,429

14,813

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

191

Taxation and social security

35,059

24,950

Other creditors

547,689

550,970

582,748

576,111