D & G Lincoln Properties Limited - Limited company accounts 16.1

REGISTERED NUMBER: 04927176 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2016

for

D & G Lincoln Properties Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

G S Jones

SM JONES

SR JONES

J JONES

SECRETARY:

SM JONES

REGISTERED OFFICE:

Orchard Cottage

Old Apley

Market Rasen

Lincolnshire

LN8 5JQ

REGISTERED NUMBER:

04927176 (England and Wales)

ACCOUNTANTS:

G & R Millett T/as G M Agencies

Orchard Cottage

Old Apley

Market Rasen

Lincolnshire

LN8 5JQ

The directors present their report with the financial statements of the company for the year ended 31 March 2016.

REVIEW OF BUSINESS

On 20 November 2013, the company issued Bonus shares of 11 ordinary shares for each existing £1.00 ordinary share in

issue. This brought the number of "A" ordinary shares up to 600 and "B" ordinary shares also up to 600.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2015 to the date of this report.

G S Jones

SM JONES

SR JONES

J JONES

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

SM JONES - Secretary

14 December 2016

TURNOVER

132,250

116,009

Cost of sales

27,479

25,927

GROSS PROFIT

104,771

90,082

Administrative expenses

5,139

1,521

99,632

88,561

Other operating income

14,030

12,255

OPERATING PROFIT

2

113,662

100,816

Amounts written off investments

3

296

-

113,366

100,816

Interest payable and similar charges

16,185

16,743

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

97,181

84,073

Tax on profit on ordinary activities

4

19,436

16,815

PROFIT FOR THE FINANCIAL YEAR

77,745

67,258

CURRENT ASSETS

Stocks

1,207,512

Debtors

6

41,670

29,382

Investments

7

725

1,021

Cash at bank

40,923

41,350

1,290,830

1,279,265

CREDITORS

Amounts falling due within one year

8

94,667

91,269

NET CURRENT ASSETS

1,196,163

1,187,996

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,196,163

1,187,996

CREDITORS

Amounts falling due after more than one
year

9

769,847

815,425

NET ASSETS

426,316

372,571

CAPITAL AND RESERVES

Called up share capital

10

1,200

Profit and loss account

11

425,116

371,371

SHAREHOLDERS' FUNDS

426,316

372,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 14 December 2016 and were signed on its behalf
by:

G S Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.16

31.3.15

£

Audit

-

250

Directors' remuneration and other benefits etc

-

3.	AMOUNTS WRITTEN OFF INVESTMENTS

31.3.16

31.3.15

£

Amounts w/o invs

296

-

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.3.16

31.3.15

£

Current tax:

UK corporation tax

19,436

16,815

Tax on profit on ordinary activities

19,436

16,815

5.

DIVIDENDS

31.3.16

31.3.15

£

A Ordinary shares shares of 1.00 each

Interim dividend - A ords

24,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Trade debtors

32,635

23,434

Other debtors

9,035

5,948

41,670

29,382

7.	CURRENT ASSET INVESTMENTS

Listed investments comprises investments listed on the London Stock Exchange, the market value of which at 31

March 2016 amounted to £725. The listed investments as valued by the company accounts at 31 March 2016

amounted to £725.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Bank loans and overdrafts

46,000

Trade creditors

(1

)

1

Tax

19,436

16,814

VAT

4,982

4,454

Directors' current accounts

24,000

Accrued expenses

250

-

94,667

91,269

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.16

31.3.15

£

Bank loans - 2-5 years

769,847

815,425

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

600

A Ordinary shares

1.00

1,200

600

B Ordinary

1.00

-

1,200

11.

RESERVES

Profit

and loss

account

£

At 1 April 2015

371,371

Profit for the year

77,745

Dividends

(24,000

)

At 31 March 2016

425,116