Registration number:
Lynton Services Mayfair (1994) Limited
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Lynton Services Mayfair (1994) Limited
Statement of Financial Position as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
59,788 |
109,272 |
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Shareholders' funds |
59,790 |
109,274 |
For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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G H Garland
Director
Company registration number: 02898214
Lynton Services Mayfair (1994) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of building services
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company had net assets at 30 April 2023 amounting to £59,790 including cash at bank of £54,710.
Having made enquires the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue based upon the contractual stage of completion of the building services.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Lynton Services Mayfair (1994) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
4 years straight line |
Plant and equipment |
4 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company during the year was
Lynton Services Mayfair (1994) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Furniture, fittings and equipment |
Plant and Equipment |
Total |
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Cost or valuation |
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At 1 May 2022 |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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Stocks |
2023 |
2022 |
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Work in progress |
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Debtors |
2023 |
2022 |
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Trade debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Transactions with directors |
During the year there were advances of £46,118 to the director, and repayments of £46,118. Interest of £513 (2022: £NIL) has been charged at a rate of 2% pa. There are no agreed terms in place.