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REGISTERED NUMBER: 07061470 (England and Wales)












STEVE LYNN BUILDING CONTRACTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


STEVE LYNN BUILDING CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: S Lynn





SECRETARY: Mrs J A Lynn





REGISTERED OFFICE: Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP





REGISTERED NUMBER: 07061470 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP

STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

ABRIDGED BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,074 27,083
Tangible assets 5 33,569 9,546
Investment property 6 98,497 98,497
156,140 135,126

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 18,528 35,002
Cash at bank 102,911 70,292
141,439 125,294
CREDITORS
Amounts falling due within one year 59,318 55,671
NET CURRENT ASSETS 82,121 69,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,261

204,749

CREDITORS
Amounts falling due after more than
one year

7

(28,519

)

(35,584

)

PROVISIONS FOR LIABILITIES (6,149 ) (1,570 )
NET ASSETS 203,593 167,595

STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 203,493 167,594
SHAREHOLDERS' FUNDS 203,593 167,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2022 and were signed by:





S Lynn - Director


STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Steve Lynn Building Contractors 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.

The financial statements are presented in Sterling (£), and all monetary values are rounded to the nearest pound.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government bounce back loan
The bank loan relates to monies obtained via the Bounce Back Loan Scheme (BBL). The Government has guaranteed 100% of the borrowings with the first 12 months of interest payments and lenders fees covered. Loans are measured at the fair value of the asset received. Interest expenses are recognised in the profit and loss for each year of the loan, including interest paid by the Government in the first year.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 4 ) .

STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021
and 31 March 2022 60,185
AMORTISATION
At 1 April 2021 33,102
Amortisation for year 3,009
At 31 March 2022 36,111
NET BOOK VALUE

At 31 March 2022 24,074
At 31 March 2021 27,083

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021 49,025
Additions 28,599
At 31 March 2022 77,624
DEPRECIATION
At 1 April 2021 39,479
Charge for year 4,576
At 31 March 2022 44,055
NET BOOK VALUE
At 31 March 2022 33,569
At 31 March 2021 9,546

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021
and 31 March 2022 98,497
NET BOOK VALUE
At 31 March 2022 98,497
At 31 March 2021 98,497

STEVE LYNN BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 07061470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2022 2021
£    £   
Repayable by instalments
Bank loans more 5 yr by instal - 3,527

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
S Lynn
Balance outstanding at start of year 30,679 (9,701 )
Amounts advanced 39,875 115,380
Amounts repaid (75,000 ) (75,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,446 ) 30,679

The advances to the director are interest free and repayable on demand.