Lincoln Holland Holdings Limited
Lincoln Holland Holdings Limited
Registered number: 04350728
Unaudited Financial Statements
For The Year Ended
31 January 2024
Shore Accounting Ltd
4 Mason's Yard
177 Westbourne Street
Hove
BN3 5FB
Lincoln Holland Holdings Limited
Unaudited Financial Statements
For The Year Ended
31 January 2024
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Lincoln Holland Holdings Limited
Balance Sheet
As At
31 January 2024
Balance Sheet
Registered number:
04350728
For the year ending 31 January 2024 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2024 | 2023 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Fair Value Reserve | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 26,557,696 | 25,995,402 | |||
Lincoln Holland Holdings Limited
Balance Sheet (continued)
As At
31 January 2024
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Lincoln Holland Holdings Limited
Notes to the Financial Statements
For The Year Ended
31 January 2024
Notes to the Financial Statements
1.
General Information
Lincoln Holland Holdings Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04350728
. The registered office is 4 Mason's Yard, 177 Westbourne Street, Hove, East Sussex, BN3 5FB.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rental income and other associated income received.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Fixtures & Fittings |
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2.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5.
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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
Lincoln Holland Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2024
4.
Tangible Assets
| Land & Property | |||
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| Freehold | Fixtures & Fittings | Total | |
| £ | £ | £ | |
| Cost | |||
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Debtors
| 2024 | 2023 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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| Amounts owed by associates |
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6.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to associates |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2024 | 2023 | ||
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| £ | £ | ||
| Bank loans |
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Lincoln Holland Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2024
8.
Deferred Taxation
The provision for deferred taxation is in respect of the revaluation and statement at fair value of property. Although the fair value has not changed in the year, as the rate of corporation tax has changed, the provision has been amended to account for this.
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 2,615,155 | 1,991,112 | |
10.
Reserves
| Fair Value Reserve | |
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| As at
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11.
Related Party Transactions
During the year, the company granted loans to various other companies. These loans are unsecured, interest free and repayable on demand, unless other conditions are stated below. The balances outstanding at the year end were as follows:
Loans to companies in which the shareholders of Lincoln Holland Holdings Ltd are the only shareholders:
£304,646 (2023: £1,948,389)
Loans to companies in which the shareholders of Lincoln Holland Holdings Ltd own 50% or more of the shares:
£5,810,513 (2023: £2,607,242)
Loans to companies in which the shareholders of Lincoln Holland Holdings Ltd are minority shareholders but hold significant influence:
£5,036,807 (2023: £5,668,317)
During the year, the company received loans from various other companies. These loans are unsecured, interest free and repayable on demand. The balances outstanding at the year end were as follows:
Loans from companies in which the shareholders of Lincoln Holland Holdings Ltd are the only shareholders:
£3,084,939 (2023: £3,088,439)
Loans from companies in which the shareholders of Lincoln Holland Holdings Ltd own 50% or more of the shares:
£1,604,000 (2023: £1,604,000)
Loans from companies in which the shareholders of Lincoln Holland Holdings Ltd are minority shareholders but hold significant influence:
£1,765,000 (2023: £1,736,000)