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REGISTERED NUMBER: 04949317 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Lynton Projects Limited

Lynton Projects Limited (Registered number: 04949317)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lynton Projects Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs A T Ellis
Mr G D G Ellis





SECRETARY: Mrs A T Ellis





REGISTERED OFFICE: 56 Queens Road
Bury St Edmunds
Suffolk
IP33 3EW





REGISTERED NUMBER: 04949317 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Lynton Projects Limited (Registered number: 04949317)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,895 3,619
Investment property 5 2,435,000 2,416,212
2,437,895 2,419,831

CURRENT ASSETS
Debtors 6 1,930 2,110
Cash at bank 21,525 41,441
23,455 43,551
CREDITORS
Amounts falling due within one year 7 56,780 143,579
NET CURRENT LIABILITIES (33,325 ) (100,028 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,404,570

2,319,803

CREDITORS
Amounts falling due after more than one
year

8

(497,142

)

(647,000

)

PROVISIONS FOR LIABILITIES (225,426 ) (226,369 )
NET ASSETS 1,682,002 1,446,434

CAPITAL AND RESERVES
Called up share capital 9 100 100
Non distributable reserve 10 676,277 679,107
Retained earnings 1,005,625 767,227
SHAREHOLDERS' FUNDS 1,682,002 1,446,434

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Lynton Projects Limited (Registered number: 04949317)

Balance Sheet - continued
31 March 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:




Mrs A T Ellis - Director



Mr G D G Ellis - Director


Lynton Projects Limited (Registered number: 04949317)

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

1. STATUTORY INFORMATION

Lynton Projects 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any surplus or deficit is dealt with via the fair value
reserve. No depreciation is provided in respect of investment properties.

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 2 (2022 - 2 ) .

Lynton Projects Limited (Registered number: 04949317)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 12,312
DEPRECIATION
At 1 April 2022 8,693
Charge for year 724
At 31 March 2023 9,417
NET BOOK VALUE
At 31 March 2023 2,895
At 31 March 2022 3,619

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,416,212
Additions 22,561
Revaluations (3,773 )
At 31 March 2023 2,435,000
NET BOOK VALUE
At 31 March 2023 2,435,000
At 31 March 2022 2,416,212

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 2,435,000

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

2023 2022
£    £   
Cost 1,533,297 1,510,737

Investment property was valued on an open market basis on 31 March 2023 by the director, Mrs A T Ellis .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT - 318
Prepayments and accrued income 1,930 1,792
1,930 2,110

Lynton Projects Limited (Registered number: 04949317)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,858 -
Trade creditors 55 24
Tax 10,211 9,548
VAT 1,893 -
Merrifields Limited
intercompany loan - 100,000
Other creditors - 8,315
Directors' current accounts 10,971 20,470
Accruals and deferred income 5,792 5,222
56,780 143,579

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 32,387 647,000
Bank loans - 2-5 years 464,755 -
497,142 647,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Non
distributable
reserve
£   
At 1 April 2022 679,107
Unrealised surplus on revaluations of
investment properties

(2,830

)


At 31 March 2023 676,277

11. RELATED PARTY TRANSACTION

Interest free loans owing to companies with common directors and under common control amounted to £nil as at 31st March 2023 (2022 - £100,000).