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REGISTERED NUMBER: 04652501 (England and Wales)















Lynch & Calver Flooring Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Lynch & Calver Flooring Limited (Registered number: 04652501)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lynch & Calver Flooring Limited

Company Information
for the Year Ended 31 March 2023







Director: I Calver





Secretary: I Calver





Registered office: Unit 4 Bessemer Way
Harfreys Industrial Estate
Great Yarmouth
Norfolk
NR31 0LX





Registered number: 04652501 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Lynch & Calver Flooring Limited (Registered number: 04652501)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 74,528 237,576

Current assets
Stocks 51,057 14,359
Debtors 5 60,102 29,708
Cash at bank 134,484 43,784
245,643 87,851
Creditors
Amounts falling due within one year 6 94,346 76,570
Net current assets 151,297 11,281
Total assets less current liabilities 225,825 248,857

Creditors
Amounts falling due after more than one
year

7

-

(49,581

)

Provisions for liabilities (12,431 ) (7,640 )
Net assets 213,394 191,636

Capital and reserves
Called up share capital 1 2
Revaluation reserve 9 - 85,663
Capital redemption reserve 1 -
Retained earnings 213,392 105,971
Shareholders' funds 213,394 191,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Lynch & Calver Flooring Limited (Registered number: 04652501)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 27 September 2023 and were signed by:





I Calver - Director


Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

Lynch & Calver Flooring 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the provision of goods to customers. Revenue from goods is recognised at the point the company fulfils its commercial obligation to the customer, and revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured, which is typically upon fitting.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Tools and equipment - 20% on cost
Office equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met.Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or become receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Tangible fixed assets
Improvements
Long to Tools and
leasehold property equipment
£    £    £   
Cost
At 1 April 2022 230,000 - 19,336
Additions - 30,892 44,012
Disposals (230,000 ) - (19,336 )
At 31 March 2023 - 30,892 44,012
Depreciation
At 1 April 2022 - - 18,936
Charge for year - 3,391 3,687
Eliminated on disposal - - (19,336 )
At 31 March 2023 - 3,391 3,287
Net book value
At 31 March 2023 - 27,501 40,725
At 31 March 2022 230,000 - 400

Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. Tangible fixed assets - continued

Office Motor
equipment vehicles Totals
£    £    £   
Cost
At 1 April 2022 6,490 20,749 276,575
Additions 703 - 75,607
Disposals (5,595 ) - (254,931 )
At 31 March 2023 1,598 20,749 97,251
Depreciation
At 1 April 2022 6,490 13,573 38,999
Charge for year 141 1,436 8,655
Eliminated on disposal (5,595 ) - (24,931 )
At 31 March 2023 1,036 15,009 22,723
Net book value
At 31 March 2023 562 5,740 74,528
At 31 March 2022 - 7,176 237,576

5. Debtors
31/3/23 31/3/22
£    £   
Amounts falling due within one year:
Trade debtors 48,716 22,048
Other debtors 10,670 6,160
59,386 28,208

Amounts falling due after more than one year:
Other debtors 716 1,500

Aggregate amounts 60,102 29,708

6. Creditors: amounts falling due within one year
31/3/23 31/3/22
£    £   
Bank loans and overdrafts - 3,600
Trade creditors 45,719 40,649
Taxation and social security 43,985 29,833
Other creditors 4,642 2,488
94,346 76,570

7. Creditors: amounts falling due after more than one year
31/3/23 31/3/22
£    £   
Bank loans - 49,581

Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. Creditors: amounts falling due after more than one year - continued
31/3/23 31/3/22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 32,181

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/23 31/3/22
£    £   
Within one year 17,000 -
Between one and five years 58,522 -
75,522 -

9. Reserves
Revaluation
reserve
£   
At 1 April 2022 85,663
Transfer of recognised profit (85,663 )

At 31 March 2023 -

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
I Calver
Balance outstanding at start of year 3,016 3,178
Amounts advanced 26,400 150
Amounts repaid (26,552 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,864 3,016

A J Lynch
Balance outstanding at start of year 2,981 3,143
Amounts advanced 160 150
Amounts repaid (3,141 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,981