false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-02-01
Sage Accounts Production Advanced 2017 - FRS
197,272
71,451
xbrli:pure
xbrli:shares
iso4217:GBP
04639028
2016-02-01
2017-01-31
04639028
2017-01-31
04639028
2016-01-31
04639028
2015-02-01
2016-01-31
04639028
2016-01-31
04639028
core:PlantMachinery
2016-02-01
2017-01-31
04639028
bus:RegisteredOffice
2016-02-01
2017-01-31
04639028
bus:LeadAgentIfApplicable
2016-02-01
2017-01-31
04639028
bus:Director1
2016-02-01
2017-01-31
04639028
bus:Director2
2016-02-01
2017-01-31
04639028
bus:Director3
2016-02-01
2017-01-31
04639028
core:WithinOneYear
2017-01-31
04639028
core:WithinOneYear
2016-01-31
04639028
core:AfterOneYear
2017-01-31
04639028
core:AfterOneYear
2016-01-31
04639028
core:RetainedEarningsAccumulatedLosses
2015-02-01
2016-01-31
04639028
core:RetainedEarningsAccumulatedLosses
2016-01-31
04639028
core:RetainedEarningsAccumulatedLosses
2015-01-31
04639028
core:RetainedEarningsAccumulatedLosses
2017-01-31
04639028
core:RetainedEarningsAccumulatedLosses
2016-01-31
04639028
core:ShareCapital
2017-01-31
04639028
core:ShareCapital
2016-01-31
04639028
bus:FRS102
2016-02-01
2017-01-31
04639028
bus:AuditExempt-NoAccountantsReport
2016-02-01
2017-01-31
04639028
bus:AbridgedAccounts
2016-02-01
2017-01-31
04639028
bus:SmallCompaniesRegimeForAccounts
2016-02-01
2017-01-31
04639028
bus:PrivateLimitedCompanyLtd
2016-02-01
2017-01-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of Lynden Tooling Services Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
04639028
Lynden Tooling Services Limited
|
|
Unaudited Abridged Financial Statements
|
|
KAIZEN CONSULTING
Chartered accountant
Suite 2 Hull Sports Centre
Chanterlands Ave North
Hull
England
HU5 4EF
Lynden Tooling Services Limited
|
|
Abridged Financial Statements
|
|
Year ended 31 January 2017
Statement of income and retained earnings
|
2
|
|
|
Abridged statement of financial position
|
3
|
|
|
Notes to the abridged financial statements
|
5
|
|
|
Lynden Tooling Services Limited
|
|
Year ended 31 January 2017
The directors present their report and the unaudited abridged financial statements of the company for the year ended
31 January 2017
.
Directors
The directors who served the company during the year were as follows:
Mr C Moy
|
|
Mr J Thompson
|
|
Mr M Burke
|
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
30 September 2017
and signed on behalf of the board by:
Registered office:
|
Unit 1 and 2
|
Main Road
|
Gilberdyke
|
East Yorkshire
|
England
|
HU15 2SW
|
|
Lynden Tooling Services Limited
|
|
Statement of Income and Retained Earnings
|
|
Year ended 31 January 2017
|
2017
|
2016
|
Note
|
£
|
£
|
Gross profit
|
1,069,270
|
1,095,417
|
|
|
|
Distribution costs
|
14,311
|
9,297
|
Administrative expenses
|
794,725
|
1,037,549
|
|
------------
|
------------
|
Operating profit
|
260,234
|
48,571
|
|
|
|
Interest payable and similar expenses
|
12,962
|
9,120
|
|
|
------------
|
------------
|
Profit before taxation
|
5
|
247,272
|
39,451
|
|
|
|
|
Tax on profit
|
50,000
|
(
32,000)
|
|
---------
|
--------
|
Profit for the financial year and total comprehensive income
|
197,272
|
71,451
|
|
---------
|
--------
|
|
|
|
Dividends paid and payable
|
–
|
(
90,000)
|
|
|
|
Retained earnings at the start of the year
|
1,126,380
|
1,144,929
|
|
------------
|
------------
|
Retained earnings at the end of the year
|
1,323,652
|
1,126,380
|
|
------------
|
------------
|
|
|
|
All the activities of the company are from continuing operations.
Lynden Tooling Services Limited
|
|
Abridged Statement of Financial Position
|
|
31 January 2017
Fixed assets
Tangible assets
|
6
|
|
930,336
|
756,572
|
|
|
|
|
|
Current assets
Stocks
|
36,200
|
|
36,200
|
Debtors
|
847,981
|
|
571,387
|
Cash at bank and in hand
|
56,430
|
|
43
|
|
---------
|
|
---------
|
|
940,611
|
|
607,630
|
|
|
|
|
Creditors: amounts falling due within one year
|
300,660
|
|
93,176
|
|
---------
|
|
---------
|
Net current assets
|
|
639,951
|
514,454
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,570,287
|
1,271,026
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
191,414
|
89,425
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
55,141
|
55,141
|
|
|
------------
|
------------
|
Net assets
|
|
1,323,732
|
1,126,460
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
80
|
80
|
Profit and loss account
|
|
1,323,652
|
1,126,380
|
|
|
------------
|
------------
|
Members funds
|
|
1,323,732
|
1,126,460
|
|
|
------------
|
------------
|
|
|
|
|
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 January 2017 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 abridged 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 abridged financial statements
.
Lynden Tooling Services Limited
|
|
Abridged Statement of Financial Position (continued)
|
|
31 January 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 September 2017
, and are signed on behalf of the board by:
Company registration number:
04639028
Lynden Tooling Services Limited
|
|
Notes to the Abridged Financial Statements
|
|
Year ended 31 January 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 and 2, Main Road, Gilberdyke, East Yorkshire, HU15 2SW, England.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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
|
-
|
10% straight line
|
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to 16 (2016: Nil).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2017
|
2016
|
|
£
|
£
|
Depreciation of tangible assets
|
86,203
|
101,508
|
|
--------
|
---------
|
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 February 2016
|
1,626,354
|
Additions
|
259,967
|
|
------------
|
At 31 January 2017
|
1,886,321
|
|
------------
|
Depreciation
|
|
At 1 February 2016
|
869,782
|
Charge for the year
|
86,203
|
|
------------
|
At 31 January 2017
|
955,985
|
|
------------
|
Carrying amount
|
|
At 31 January 2017
|
930,336
|
|
------------
|
At 31 January 2016
|
756,572
|
|
------------
|
|
|
7.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the year.