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REGISTERED NUMBER: 01043025 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LYNCRAFT BUILDERS MERCHANTS LIMITED

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LYNCRAFT BUILDERS MERCHANTS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: Andrew Malcolm Lowe
Mrs Sarita Martett Lowe Tapper



SECRETARY: Andrew Malcolm Lowe



REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB



REGISTERED NUMBER: 01043025 (England and Wales)



ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB



SOLICITORS: LDJ Solicitors
29 Dugdale Street
Nuneaton
Warwickshire
CV11 5QN

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 600 900
Tangible assets 5 439,419 451,043
440,019 451,943

CURRENT ASSETS
Stocks 116,984 92,420
Debtors 6 1,250 2,080
Cash at bank and in hand 368,800 397,243
487,034 491,743
CREDITORS
Amounts falling due within one year 7 62,071 75,434
NET CURRENT ASSETS 424,963 416,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,982

868,252

PROVISIONS FOR LIABILITIES 3,829 3,505
NET ASSETS 861,153 864,747

CAPITAL AND RESERVES
Called up share capital 2,400 2,400
Retained earnings 858,753 862,347
SHAREHOLDERS' FUNDS 861,153 864,747

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

BALANCE SHEET - continued
31 January 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 authorised for issue by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:




Andrew Malcolm Lowe - Director



Mrs Sarita Martett Lowe Tapper - Director


LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Lyncraft Builders Merchants 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold land has not been depreciated as the directors are of the opinion that the residual value is at least that stated in the accounts and as such depreciation is not material.

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

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instrumements are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expense

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.

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 9 (2022 - 9 ) .

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2022
and 31 January 2023 1,500
AMORTISATION
At 1 February 2022 600
Amortisation for year 300
At 31 January 2023 900
NET BOOK VALUE
At 31 January 2023 600
At 31 January 2022 900

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2022 490,780 44,579 9,815 545,174
Additions - 1,137 - 1,137
At 31 January 2023 490,780 45,716 9,815 546,311
DEPRECIATION
At 1 February 2022 59,675 25,056 9,400 94,131
Charge for year 8,525 4,132 104 12,761
At 31 January 2023 68,200 29,188 9,504 106,892
NET BOOK VALUE
At 31 January 2023 422,580 16,528 311 439,419
At 31 January 2022 431,105 19,523 415 451,043

Included in cost or valuation of land and buildings is freehold land of £ 64,500 (2022 - £ 64,500 ) which is not depreciated.

LYNCRAFT BUILDERS MERCHANTS LIMITED (REGISTERED NUMBER: 01043025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2023 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2015 490,780 - - 490,780
Cost - 45,716 9,815 55,531
490,780 45,716 9,815 546,311

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 147,678 147,678

Value of land in freehold land and buildings 64,500 64,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,250 2,080

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,178 10,450
Taxation and social security 10,466 11,236
Other creditors 38,427 53,748
62,071 75,434

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed a former director and shareholder £27,329 (2022: £47,328). No interest is charged on the amount outstanding.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A M Lowe & Mrs S Tapper.