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LYNCHCO LIMITED

Registered Number
10223335
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

LYNCHCO LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Daniel Matthew Lynch
Keisha Faye Lynch

Registered Address

22b Highgate West Hill
London
N6 6NP

Registered Number

10223335 (England and Wales)
LYNCHCO LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets78,8412,125
8,8412,125
Current assets
Debtors1026,90082,490
Cash at bank and on hand114,89254,662
141,792137,152
Creditors amounts falling due within one year11(48,745)(56,551)
Net current assets (liabilities)93,04780,601
Total assets less current liabilities101,88882,726
Net assets101,88882,726
Capital and reserves
Called up share capital22
Profit and loss account101,88682,724
Shareholders' funds101,88882,726
The financial statements were approved and authorised for issue by the Board of Directors on 1 November 2023, and are signed on its behalf by:
Daniel Matthew Lynch
Director
Keisha Faye Lynch
Director

Registered Company No. 10223335
LYNCHCO LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is that of management consultancy activities other than financial management.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is not provided on land and buildings. Depreciation is provided on all other tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
5.Critical estimates and judgements
In the application of the company's accounting policies, the directors are required to make judgment, estimates and assumptions about the carrying amount of assets and liabilities that are readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
6.Employee information

20232022
Average number of employees during the year44
7.Property, plant and equipment

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 July 22-7,9357,935
Additions7,9024008,302
At 30 June 237,9028,33516,237
Depreciation and impairment
At 01 July 22-5,8105,810
Charge for year-1,5861,586
At 30 June 23-7,3967,396
Net book value
At 30 June 237,9029398,841
At 30 June 22-2,1252,125
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Daniel Matthew Lynch337,50907,542
Keisha Faye Lynch(4,312)11,50007,188
(4,279)19,009014,730
9.Dividends proposed and payable

2023

2022

££
Dividends Paid60,00067,000
Total60,00067,000
10.Debtors

2023

2022

££
Trade debtors / trade receivables4,97781,570
Other debtors21,52233
Prepayments and accrued income401887
Total26,90082,490
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,5435,447
Bank borrowings and overdrafts15,37324,558
Taxation and social security31,82926,086
Accrued liabilities and deferred income-460
Total48,74556,551
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.