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Company Registration No. 00773665 (England and Wales)
H.R.Lyne & Son Limited Unaudited accounts for the year ended 31 March 2023
H.R.Lyne & Son Limited Unaudited accounts Contents
Page
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H.R.Lyne & Son Limited Company Information for the year ended 31 March 2023
Directors
Andrew Lyne Serena Lyne
Company Number
00773665 (England and Wales)
Registered Office
CHY WARTHA KESTLE MANACCAN HELSTON CORNWALL TR12 6HU UK
Accountants
Tanya Stratton 6 Malmesbury Close Redland Bristol BS6 7TR
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H.R.Lyne & Son Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
40 
40 
Investment property
15,000 
20,000 
Investments
699 
440 
15,739 
20,480 
Current assets
Inventories
38,963 
26,539 
Debtors
2,470 
15,240 
Cash at bank and in hand
6 
66 
41,439 
41,845 
Creditors: amounts falling due within one year
(48,963)
(38,686)
Net current (liabilities)/assets
(7,524)
3,159 
Total assets less current liabilities
8,215 
23,639 
Creditors: amounts falling due after more than one year
(101,901)
(401,262)
Net liabilities
(93,686)
(377,623)
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
(93,690)
(377,627)
Shareholders' funds
(93,686)
(377,623)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2023 and were signed on its behalf by
Andrew Lyne Director Company Registration No. 00773665
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H.R.Lyne & Son Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
H.R.Lyne & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 00773665. The registered office is CHY WARTHA KESTLE, MANACCAN, HELSTON, CORNWALL, TR12 6HU, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
15% straight line
Motor vehicles
20% straight line
Investment property
Investment property is the cattle production herd. Increases in the herd are valued at fair value and disposals are on a FIFO basis.
Investments
Unlisted investments are included at cost as the fair value cannot be measured reliably.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Livestock is valued at market value less 40%.
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H.R.Lyne & Son Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
71,475 
48,532 
28,163 
148,170 
At 31 March 2023
71,475 
48,532 
28,163 
148,170 
Depreciation
At 1 April 2022
71,474 
48,496 
28,160 
148,130 
At 31 March 2023
71,474 
48,496 
28,160 
148,130 
Net book value
At 31 March 2023
1 
36 
3 
40 
At 31 March 2022
1 
36 
3 
40 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
20,000 
Disposals
(5,000)
At 31 March 2023
15,000 
6
Investments
Other investments 
£ 
Valuation at 1 April 2022
440 
Additions
259 
Valuation at 31 March 2023
699 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
18 
89 
Trade debtors
1,218 
13,453 
Accrued income and prepayments
1,234 
1,698 
2,470 
15,240 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
18,051 
18,094 
Trade creditors
24,282 
15,946 
Other creditors
6,435 
4,500 
Accruals
195 
146 
48,963 
38,686 
The directors have given security based on the company's assets including stock and production herd.
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H.R.Lyne & Son Limited Notes to the Accounts for the year ended 31 March 2023
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,698 
16,320 
Other creditors
89,203 
384,942 
101,901 
401,262 
Aggregate of amounts that fall due for payment after five years
2,729 
4,026 
10
Transactions with related parties
The directors have loaned money to the company which is included in other creditors due after one year (2023 - £89,203 2022 - £384,942). The director, R Lyne, died on 18.2.2023 and his loan of £301,128 has been written back as there is insufficient funds to repay it. These loans are unsecured and interest free with no date for repayment. The directors have given the company an undertaking that they will not be repaid until other creditors have been repaid in full.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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