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REGISTERED NUMBER: 01355617 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Lynx Fabrics Limited

Lynx Fabrics Limited (Registered number: 01355617)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Lynx Fabrics Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: L M Myers
N Louis





SECRETARY: N Louis





REGISTERED OFFICE: 4 Progress Works
Parkwood Street
Keighley
West Yorkshire
BD21 4NX





REGISTERED NUMBER: 01355617 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Lynx Fabrics Limited (Registered number: 01355617)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 18,760 21,260
Tangible assets 5 43,289 54,198
62,049 75,458

CURRENT ASSETS
Stocks 120,000 360,667
Debtors 6 249,346 410,114
Cash at bank 39,352 155,916
408,698 926,697
CREDITORS
Amounts falling due within one year 7 (280,349 ) (724,106 )
NET CURRENT ASSETS 128,349 202,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,398

278,049

PROVISIONS FOR LIABILITIES (3,818 ) (5,503 )
NET ASSETS 186,580 272,546

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 2,709 2,709
Retained earnings 183,771 269,737
SHAREHOLDERS' FUNDS 186,580 272,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income and Retained Earnings has not been delivered.

Lynx Fabrics Limited (Registered number: 01355617)

Statement of Financial Position - continued
30 June 2023



The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





N Louis - Director


Lynx Fabrics Limited (Registered number: 01355617)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Lynx Fabrics 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.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Lynx Fabrics Limited (Registered number: 01355617)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 25,000
AMORTISATION
At 1 July 2022 3,740
Charge for year 2,500
At 30 June 2023 6,240
NET BOOK VALUE
At 30 June 2023 18,760
At 30 June 2022 21,260

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 4,000 70,811 544
Additions - - -
At 30 June 2023 4,000 70,811 544
DEPRECIATION
At 1 July 2022 4,000 32,273 152
Charge for year - 7,707 78
At 30 June 2023 4,000 39,980 230
NET BOOK VALUE
At 30 June 2023 - 30,831 314
At 30 June 2022 - 38,538 392

Lynx Fabrics Limited (Registered number: 01355617)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 41,663 16,252 133,270
Additions - 853 853
At 30 June 2023 41,663 17,105 134,123
DEPRECIATION
At 1 July 2022 34,295 8,352 79,072
Charge for year 1,788 2,189 11,762
At 30 June 2023 36,083 10,541 90,834
NET BOOK VALUE
At 30 June 2023 5,580 6,564 43,289
At 30 June 2022 7,368 7,900 54,198

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 231,066 393,093
Other debtors 1,461 1,461
Prepayments and accrued income 16,819 15,560
249,346 410,114

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 130,757 565,452
Tax 27,161 92,339
Social security and other taxes 1,109 992
VAT 25,131 62,940
Other creditors 904 1,333
Directors' current accounts 75,145 -
Accrued expenses 20,142 1,050
280,349 724,106

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lynx Fabrics Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lynx Fabrics Limited for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lynx Fabrics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lynx Fabrics Limited and state those matters that we have agreed to state to the Board of Directors of Lynx Fabrics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lynx Fabrics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lynx Fabrics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lynx Fabrics Limited. You consider that Lynx Fabrics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lynx Fabrics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


30 January 2024