Silverfin false 31/03/2023 01/04/2022 31/03/2023 Malcolm Lyus 06/04/1995 Stephen Lyus 06/04/1995 David Lyus 06/04/1995 31 August 2023 The principal activity of the Company during the financial year was that of a holding company. 01112574 2023-03-31 01112574 bus:Director1 2023-03-31 01112574 bus:Director2 2023-03-31 01112574 bus:Director3 2023-03-31 01112574 2022-03-31 01112574 core:CurrentFinancialInstruments 2023-03-31 01112574 core:CurrentFinancialInstruments 2022-03-31 01112574 core:ShareCapital 2023-03-31 01112574 core:ShareCapital 2022-03-31 01112574 core:CapitalRedemptionReserve 2023-03-31 01112574 core:CapitalRedemptionReserve 2022-03-31 01112574 core:RetainedEarningsAccumulatedLosses 2023-03-31 01112574 core:RetainedEarningsAccumulatedLosses 2022-03-31 01112574 core:CostValuation 2022-03-31 01112574 core:CostValuation 2023-03-31 01112574 core:ProvisionsForImpairmentInvestments 2022-03-31 01112574 core:ProvisionsForImpairmentInvestments 2023-03-31 01112574 core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 01112574 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 01112574 core:ShareCapital 2021-03-31 01112574 core:FurtherSpecificReserve1ComponentTotalEquity 2021-03-31 01112574 core:CapitalRedemptionReserve 2021-03-31 01112574 core:WithinOneYear 2023-03-31 01112574 core:WithinOneYear 2022-03-31 01112574 core:BetweenOneFiveYears 2023-03-31 01112574 core:BetweenOneFiveYears 2022-03-31 01112574 2022-04-01 2023-03-31 01112574 bus:FullAccounts 2022-04-01 2023-03-31 01112574 bus:SmallEntities 2022-04-01 2023-03-31 01112574 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01112574 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01112574 bus:Director1 2022-04-01 2023-03-31 01112574 bus:Director2 2022-04-01 2023-03-31 01112574 bus:Director3 2022-04-01 2023-03-31 01112574 2021-04-01 2022-03-31 01112574 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 01112574 core:ShareCapital 1 2021-04-01 2022-03-31 01112574 core:FurtherSpecificReserve1ComponentTotalEquity 1 2021-04-01 2022-03-31 01112574 core:ShareCapital 2021-04-01 2022-03-31 01112574 core:FurtherSpecificReserve1ComponentTotalEquity 2021-04-01 2022-03-31 01112574 core:CapitalRedemptionReserve 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Company No: 01112574 (England and Wales)

LYBROOK HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

LYBROOK HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

LYBROOK HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2023
LYBROOK HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 9 9
9 9
Current assets
Debtors 4 308,576 372,405
Cash at bank and in hand 358,610 424,202
667,186 796,607
Creditors: amounts falling due within one year 5 ( 441,992) ( 447,489)
Net current assets 225,194 349,118
Total assets less current liabilities 225,203 349,127
Provision for liabilities 6 0 ( 1,242)
Net assets 225,203 347,885
Capital and reserves
Called-up share capital 7 810 810
Capital redemption reserve 7 690 690
Profit and loss account 223,703 346,385
Total shareholders' funds 225,203 347,885

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lybrook Holdings Limited (registered number: 01112574) were approved and authorised for issue by the Director on 31 August 2023. They were signed on its behalf by:

Stephen Lyus
Director
LYBROOK HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
LYBROOK HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lybrook Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is D L Group Building, George Smith Way, Yeovil, BA22 8QR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Management charges receivable are recognised in other operating income at the fair value of the consideration received or receivable for services provided in the period to which they relate. Accrued income for management charges are included within other debtors on the balance sheet.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Business Combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2022 9 9
At 31 March 2023 9 9
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 9 9
Carrying value at 31 March 2022 9 9

4. Debtors

2023 2022
£ £
Trade debtors 317 317
Other debtors 308,259 372,088
308,576 372,405

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,550 5,046
Amounts owed to Group undertakings 389,731 400,000
Taxation and social security 45,911 40,743
Other creditors 1,800 1,700
441,992 447,489

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Provision for liabilities

2023 2022
£ £
Deferred tax 0 1,242

7. Changes in equity

Called-up share capital Fair value reserve Capital redemption reserve
£ £ £
At 01 April 2022 810 0 690
At 31 March 2023 810 0 690
At 01 April 2021 810 273,299 690
Transfer of fair value realised gains/losses to profit and loss account 0 ( 273,299)
Total comprehensive income 0 ( 273,299) 0
At 31 March 2022 810 0 690

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 57,600 57,600
between one and five years 43,200 100,800
100,800 158,400

The commitment above is in relation to a non-cancellable operating lease in respect of a commercial rental property.

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemptions provided from disclosing transactions with its wholly owned subsidiaries.

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022, the balance owed by Stephen Lyus, a director of the company, was £35,598. During the year £121,009 was advanced and £138,909 was repaid. At 31 March 2023, the balance owed by Stephen Lyus was £17,698.

At 1 April 2021, the balance owed by Stephen Lyus, a director of the company, was £35,598. During the year £155,264 was advanced and £155,264 was repaid. At 31 March 2022, the balance owed by Stephen Lyus was £35,598.

At 1 April 2022, the balance owed by David Lyus, a director of the company, was £35,598. During the year £120,534 was advanced and £139,904 was repaid. At 31 March 2023, the balance owed by David Lyus was £16,228.

At 1 April 2021, the balance owed by David Lyus, a director of the company, was £35,598. During the year £155,264 was advanced and £155,264 was repaid. At 31 March 2022, the balance owed by David Lyus was £35,598.

At 1 April 2022, the balance owed by Malcolm Lyus, a director of the company, was £35,598. During the year £63,000 was advanced and £94,598 was repaid. At 31 March 2023, the balance owed by Malcolm Lyus was £4,000.

At 1 April 2021, the balance owed by Malcolm Lyus, a director of the company, was £35,598. During the year £64,000 was advanced and £64,000 was repaid. At 31 March 2022, the balance owed by Malcolm Lyus was £35,598.