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Registered Number: 07484952
England and Wales

 

 

 

LYND PRODUCTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Directors Colin Paine
Jill Paine
Registered Number 07484952
Registered Office Shalom
Main Street
Summerbridge
North Yorkshire
HG3 4JR
Accountants Best Accountancy Services Ltd
Harrogate Business Centre, Hammerain House
Hookstone Avenue
Harrogate
North Yorkshire
HG2 8ER
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,132    34,834 
3,132    34,834 
Current assets      
Stocks 4 12,746    12,139 
Debtors 5 45,664    61,145 
Cash at bank and in hand 54,705    25,019 
113,115    98,303 
Creditors: amount falling due within one year 6 (54,373)   (86,459)
Net current assets 58,742    11,844 
 
Total assets less current liabilities 61,874    46,678 
Creditors: amount falling due after more than one year 7 (7,250)   (10,223)
Net assets 54,624    36,455 
 

Capital and reserves
     
Called up share capital 150    150 
Capital Redemption Reserve 8 60    60 
Profit and loss account 54,414    36,245 
Shareholder's funds 54,624    36,455 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 November 2023 and were signed on its behalf by:


-------------------------------
Colin Paine
Director
2
General Information
Lynd Products Limited is a private company, limited by shares, registered in England and Wales, registration number 07484952, registration address Shalom, Main Street, Summerbridge, North Yorkshire, HG3 4JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20%
Plant and Machinery 25%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 March 2022 18,850    75,076    93,926 
Additions   987    987 
Disposals   (65,779)   (65,779)
At 28 February 2023 18,850    10,284    29,134 
Depreciation
At 01 March 2022 13,202    45,890    59,092 
Charge for year 3,770    8,106    11,876 
On disposals   (44,966)   (44,966)
At 28 February 2023 16,972    9,030    26,002 
Net book values
Closing balance as at 28 February 2023 1,878    1,254    3,132 
Opening balance as at 01 March 2022 5,648    29,186    34,834 


4.

Stocks

2023
£
  2022
£
Stocks 12,746    12,139 
12,746    12,139 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 35,624    50,625 
Other Debtors 10,040    10,520 
45,664    61,145 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9,147    3,382 
Bank Loans & Overdrafts 3,000    3,000 
Taxation and Social Security 38,671    32,335 
Obligations under HP/Financial Leases   45,354 
Other Creditors 3,555    2,388 
54,373    86,459 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 7,250    10,223 
7,250    10,223 

8.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 60    60 
60    60 

9.

Advances and Credits



Colin Paine
During the year ended 28th February 2023, £117,501 was advanced to the Company by the Director, and £117.094 of the outstanding loans and advances were repaid to the Director. The loans were interest free and repayable on demand.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Colin Paine(394)117,094 117,501 (801)
-394117094011750100-801
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Colin Paine3,552 122,031 125,977 (394)
3552122031012597700-394
3