Registered number
06889567
LYNWOOD LIMITED
Filleted Accounts
30 April 2023
LYNWOOD LIMITED
Registered number: 06889567
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,121 1,495
Current assets
Debtors 4 46,418 20,517
Cash at bank and in hand 13,383 25,043
59,801 45,560
Creditors: amounts falling due within one year 5 (41,417) (25,338)
Net current assets 18,384 20,222
Total assets less current liabilities 19,505 21,717
Creditors: amounts falling due after more than one year 6 (18,111) (20,833)
Net assets 1,394 884
Capital and reserves
Called up share capital 4 4
Profit and loss account 1,390 880
Shareholders' funds 1,394 884
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D. Fletcher
Director
Approved by the board on 15 January 2024
LYNWOOD LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
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 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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method.
Fixtures, fittings, tools and equipment 25% reducing balance method.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 4,141 17,995 22,136
At 30 April 2023 4,141 17,995 22,136
Depreciation
At 1 May 2022 3,659 16,982 20,641
Charge for the year 121 253 374
At 30 April 2023 3,780 17,235 21,015
Net book value
At 30 April 2023 361 760 1,121
At 30 April 2022 482 1,013 1,495
4 Debtors 2023 2022
£ £
Trade debtors 26,284 9,862
Other debtors 20,134 10,655
46,418 20,517
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 23,051 14,483
Corporation tax 4,307 3,416
Other taxes and social security costs 14,059 7,439
41,417 25,338
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,111 20,833
7 Other information
LYNWOOD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
LYNWOOD LIMITED 06889567 false 2022-05-01 2023-04-30 2023-04-30 VT Final Accounts April 2022 D. Fletcher No description of principal activity 06889567 2021-05-01 2022-04-30 06889567 core:WithinOneYear 2022-04-30 06889567 core:AfterOneYear 2022-04-30 06889567 core:ShareCapital 2022-04-30 06889567 core:RetainedEarningsAccumulatedLosses 2022-04-30 06889567 2022-05-01 2023-04-30 06889567 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 06889567 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 06889567 bus:Director40 2022-05-01 2023-04-30 06889567 1 2022-05-01 2023-04-30 06889567 2 2022-05-01 2023-04-30 06889567 core:PlantMachinery 2022-05-01 2023-04-30 06889567 core:Vehicles 2022-05-01 2023-04-30 06889567 countries:England 2022-05-01 2023-04-30 06889567 bus:FRS102 2022-05-01 2023-04-30 06889567 bus:FullAccounts 2022-05-01 2023-04-30 06889567 2023-04-30 06889567 core:WithinOneYear 2023-04-30 06889567 core:AfterOneYear 2023-04-30 06889567 core:ShareCapital 2023-04-30 06889567 core:RetainedEarningsAccumulatedLosses 2023-04-30 06889567 core:PlantMachinery 2023-04-30 06889567 core:Vehicles 2023-04-30 06889567 2022-04-30 06889567 core:PlantMachinery 2022-04-30 06889567 core:Vehicles 2022-04-30 iso4217:GBP xbrli:pure