Lymath & Moys Limited 05204283 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the trade of plumbing and heating engineering. Digita Accounts Production Advanced 6.30.9574.0 true 05204283 2022-04-01 2023-03-31 05204283 2023-03-31 05204283 core:RetainedEarningsAccumulatedLosses 2023-03-31 05204283 core:ShareCapital 2023-03-31 05204283 core:CurrentFinancialInstruments 2023-03-31 05204283 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05204283 core:Goodwill 2023-03-31 05204283 core:MotorVehicles 2023-03-31 05204283 core:OfficeEquipment 2023-03-31 05204283 core:PlantMachinery 2023-03-31 05204283 bus:SmallEntities 2022-04-01 2023-03-31 05204283 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05204283 bus:FullAccounts 2022-04-01 2023-03-31 05204283 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05204283 bus:RegisteredOffice 2022-04-01 2023-03-31 05204283 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 05204283 bus:Director4 2022-04-01 2023-03-31 05204283 bus:Director4 1 2022-04-01 2023-03-31 05204283 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05204283 core:Goodwill 2022-04-01 2023-03-31 05204283 core:MotorVehicles 2022-04-01 2023-03-31 05204283 core:OfficeEquipment 2022-04-01 2023-03-31 05204283 core:PlantMachinery 2022-04-01 2023-03-31 05204283 countries:England 2022-04-01 2023-03-31 05204283 2022-03-31 05204283 bus:Director4 1 2022-03-31 05204283 core:Goodwill 2022-03-31 05204283 core:MotorVehicles 2022-03-31 05204283 core:OfficeEquipment 2022-03-31 05204283 core:PlantMachinery 2022-03-31 05204283 2021-04-01 2022-03-31 05204283 2022-03-31 05204283 core:RetainedEarningsAccumulatedLosses 2022-03-31 05204283 core:ShareCapital 2022-03-31 05204283 core:CurrentFinancialInstruments 2022-03-31 05204283 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05204283 core:MotorVehicles 2022-03-31 05204283 core:OfficeEquipment 2022-03-31 05204283 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05204283

Lymath & Moys Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 March 2023

 

Lymath & Moys Limited

(Registration number: 05204283)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

30,925

38,635

Current assets

 

Stocks

34,956

24,966

Debtors

6

16,930

26,009

Investments

45

45

Cash at bank and in hand

 

125,195

94,336

 

177,126

145,356

Creditors: Amounts falling due within one year

7

(68,832)

(45,659)

Net current assets

 

108,294

99,697

Total assets less current liabilities

 

139,219

138,332

Provisions for liabilities

(7,731)

(7,341)

Net assets

 

131,488

130,991

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

130,488

129,991

Shareholders' funds

 

131,488

130,991

 

Lymath & Moys Limited

(Registration number: 05204283)
Balance Sheet as at 31 March 2023

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the Board on 18 October 2023 and signed on its behalf by:
 


D Moys

Company secretary and director

 

Lymath & Moys Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Holmans Park
Sheepwash
BEAWORTHY
Devon
EX21 5NF

These financial statements were authorised for issue by the Board on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below and have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS 102).

Basis of preparation

These financial statements have been prepared under the historical cost convention and on a going concern basis.

Revenue recognition

Turnover represents amounts receivable, net of Value Added Tax, for the sale of goods and services to customers and includes unbilled work where recovery was reasonably certain at the year end.

Works in hand at the year end are estimated by the director based on net realisable value, the valuation being calculated to reflect the proportion of the total contract work carried out at the year end. Stage invoices are deducted in arriving at the valuation of works in hand. Such works are then included in turnover and shown under debtors as amounts recoverable on contracts. Stage invoices rendered in excess of amounts recoverable for the stage work in hand has reached at the year end are included in creditors. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date. It is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

 

Lymath & Moys Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance basis

Office equipment

33% reducing balance basis

Motor vehicles

20% reducing balance basis

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and in previous years was amortised on a straight line basis over its original estimated useful economic life. Following an impairment review at the end of the 2015 financial year it was felt that there could be no certainty that the carrying value would be recoverable and the remaining balance was therefore fully amortised in those financial statements.

Stocks

Stocks are estimated by the director and valued at the lower of cost incurred in bringing each
product to its present location and condition and net realisable value, after due regard for obsolete
and slow moving items. Net realisable value is based on selling price less anticipated costs to
completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed
and variable overheads.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like bank deposits, debtors and creditors.

3

Staff numbers

The average number of persons employed by the company (including directors under service contract) during the year, was 2 (2022 - 3).

 

Lymath & Moys Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

52,000

52,000

At 31 March 2023

52,000

52,000

Amortisation

At 1 April 2022

52,000

52,000

At 31 March 2023

52,000

52,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

5,923

6,032

76,128

88,083

Additions

743

-

-

743

Disposals

(1,231)

(117)

-

(1,348)

At 31 March 2023

5,435

5,915

76,128

87,478

Depreciation

At 1 April 2022

1,962

4,415

43,071

49,448

Charge for the year

422

534

6,611

7,567

Eliminated on disposal

(403)

(59)

-

(462)

At 31 March 2023

1,981

4,890

49,682

56,553

Carrying amount

At 31 March 2023

3,454

1,025

26,446

30,925

At 31 March 2022

3,961

1,617

33,057

38,635

 

Lymath & Moys Limited

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

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

12,623

20,098

Amounts owed by related parties

8

-

1,700

Prepayments

 

4,307

4,211

   

16,930

26,009

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Director's current account

33,882

26,959

Trade creditors

 

7,109

3,087

Taxation and social security

 

9,226

9,155

Other creditors

 

18,615

6,458

 

68,832

45,659

8

Related party transactions

The company uses premises owned by Mr D Moys for its registered office. The amount of rental charges payable by the company in the year was £1,037 (2022 - £1,007) relating to storage of materials and tools and office use at the director's residence.

Transactions with directors

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

T Moys

Interest free loan

1,700

(1,700)