IRIS Accounts Production v24.1.0.578 01799902 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false Ordinary 1.00000 Ordinary A,B,C,D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure017999022022-07-31017999022023-07-31017999022022-08-012023-07-31017999022021-07-31017999022021-08-012022-07-31017999022022-07-3101799902ns16:EnglandWales2022-08-012023-07-3101799902ns15:PoundSterling2022-08-012023-07-3101799902ns11:Director12022-08-012023-07-3101799902ns11:PrivateLimitedCompanyLtd2022-08-012023-07-3101799902ns11:SmallEntities2022-08-012023-07-3101799902ns11:AuditExempt-NoAccountantsReport2022-08-012023-07-3101799902ns11:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3101799902ns11:SmallCompaniesRegimeForAccounts2022-08-012023-07-3101799902ns11:FullAccounts2022-08-012023-07-3101799902ns11:OrdinaryShareClass12022-08-012023-07-3101799902ns11:OrdinaryShareClass22022-08-012023-07-3101799902ns11:Director22022-08-012023-07-3101799902ns11:Director32022-08-012023-07-3101799902ns11:Director42022-08-012023-07-3101799902ns11:CompanySecretary12022-08-012023-07-3101799902ns11:RegisteredOffice2022-08-012023-07-3101799902ns6:CurrentFinancialInstruments2023-07-3101799902ns6:CurrentFinancialInstruments2022-07-3101799902ns6:Non-currentFinancialInstruments2023-07-3101799902ns6:Non-currentFinancialInstruments2022-07-3101799902ns6:ShareCapital2023-07-3101799902ns6:ShareCapital2022-07-3101799902ns6:RetainedEarningsAccumulatedLosses2023-07-3101799902ns6:RetainedEarningsAccumulatedLosses2022-07-3101799902ns6:PlantMachinery2022-08-012023-07-3101799902ns6:MotorVehicles2022-08-012023-07-3101799902ns6:PlantMachinery2022-07-3101799902ns6:MotorVehicles2022-07-3101799902ns6:PlantMachinery2023-07-3101799902ns6:MotorVehicles2023-07-3101799902ns6:PlantMachinery2022-07-3101799902ns6:MotorVehicles2022-07-3101799902ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-08-012023-07-3101799902ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-08-012023-07-3101799902ns6:LeasedAssetsHeldAsLessee2022-08-012023-07-3101799902ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-07-3101799902ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-07-3101799902ns6:LeasedAssetsHeldAsLessee2023-07-3101799902ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:LeasedAssetsHeldAsLessee2022-07-3101799902ns6:WithinOneYearns6:CurrentFinancialInstruments2023-07-3101799902ns6:WithinOneYearns6:CurrentFinancialInstruments2022-07-3101799902ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-07-3101799902ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-07-3101799902ns11:OrdinaryShareClass12023-07-3101799902ns11:OrdinaryShareClass22023-07-3101799902ns6:RetainedEarningsAccumulatedLosses2022-07-3101799902ns6:RetainedEarningsAccumulatedLosses2022-08-012023-07-31
REGISTERED NUMBER: 01799902 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Lynn & Jones Storefitters Limited

Lynn & Jones Storefitters Limited (Registered number: 01799902)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lynn & Jones Storefitters Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: C A Jones
Mrs K S Jones
A S Jones
N A Jones





SECRETARY: C A Jones





REGISTERED OFFICE: Falcon House
Kenneth Street
Off Ingram Road
Holbeck
Leeds
LS11 9RF





REGISTERED NUMBER: 01799902 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Lynn & Jones Storefitters Limited (Registered number: 01799902)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 591,287 484,861

CURRENT ASSETS
Stocks 5 57,222 55,065
Debtors 6 1,649,240 1,513,357
Cash at bank and in hand 300 2,526
1,706,762 1,570,948
CREDITORS
Amounts falling due within one year 7 1,537,949 1,458,018
NET CURRENT ASSETS 168,813 112,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

760,100

597,791

CREDITORS
Amounts falling due after more than one
year

8

280,854

264,604
NET ASSETS 479,246 333,187

CAPITAL AND RESERVES
Called up share capital 10 1,004 1,002
Retained earnings 11 478,242 332,185
SHAREHOLDERS' FUNDS 479,246 333,187

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

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

Lynn & Jones Storefitters Limited (Registered number: 01799902)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





C A Jones - Director


Lynn & Jones Storefitters Limited (Registered number: 01799902)

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

1. STATUTORY INFORMATION

Lynn & Jones Storefitters 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

All tangible fixed asset categories are stated at cost or valuation, less accumulated depreciation, and accumulated impairment losses.

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 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.

Lynn & Jones Storefitters Limited (Registered number: 01799902)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

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.

Turnover and revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, net of value added tax from the ordinary activities of the business.

Where the outcome of a contract can be foreseen with reasonable certainty and can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. The stage of completion is normally measured by the proportion of contract costs incurred for work performed to date to the estimated total contract costs or the proportion of the value of work done to the total value of work under the contract, except where these would not be representative of the stage of completion. Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Amounts recoverable on contracts are stated at cost plus profit recognised to date less provision for foreseeable losses and less progress billings. Cost includes all expenditure related directly to specific contracts and an allocation of fixed and variable overheads incurred based on normal operating activity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 31 ) .

Lynn & Jones Storefitters Limited (Registered number: 01799902)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 531,735 232,398 764,133
Additions 81,025 140,258 221,283
Disposals - (32,999 ) (32,999 )
At 31 July 2023 612,760 339,657 952,417
DEPRECIATION
At 1 August 2022 206,359 72,913 279,272
Charge for year 46,126 49,613 95,739
Eliminated on disposal - (13,881 ) (13,881 )
At 31 July 2023 252,485 108,645 361,130
NET BOOK VALUE
At 31 July 2023 360,275 231,012 591,287
At 31 July 2022 325,376 159,485 484,861

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 414,539 100,727 515,266
Additions 78,000 140,258 218,258
Disposals - (32,999 ) (32,999 )
At 31 July 2023 492,539 207,986 700,525
DEPRECIATION
At 1 August 2022 126,097 23,975 150,072
Charge for year 36,035 36,930 72,965
Eliminated on disposal - (13,881 ) (13,881 )
At 31 July 2023 162,132 47,024 209,156
NET BOOK VALUE
At 31 July 2023 330,407 160,962 491,369
At 31 July 2022 288,442 76,752 365,194

5. STOCKS
31.7.23 31.7.22
£    £   
Stocks 57,222 55,065

Lynn & Jones Storefitters Limited (Registered number: 01799902)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 601,872 227,436
Amounts owed by group undertakings 497,167 680,313
Amounts recoverable on contracts 435,407 514,708
Corporation tax 83,441 73,766
Prepayments and accrued income 31,353 17,134
1,649,240 1,513,357

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Loan creditors 74,440 129,111
Hire purchase contracts 123,302 76,244
Trade creditors 810,319 619,439
Social security and other taxes 391,101 478,305
Directors' current accounts 10,123 45,249
Accrued expenses 128,664 109,670
1,537,949 1,458,018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Loan creditors 51,833 104,218
Hire purchase contracts 229,021 160,386
280,854 264,604

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 352,323 236,630

The bank overdraft is secured over the assets of the company and the assets of Lynn & Jones (Holdings) Limited by way of a debenture.

Hire purchase contracts are secured against the assets to which they relate.

Lynn & Jones Storefitters Limited (Registered number: 01799902)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1,000 Ordinary £1 1,000 1,000
4 Ordinary A,B,C,D £1 4 2
1,004 1,002

11. RESERVES
Retained
earnings
£   

At 1 August 2022 332,185
Profit for the year 300,057
Dividends (154,000 )
At 31 July 2023 478,242

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2022 - £104,000) were paid to the directors .

At 31 July 2023 the company was owed £328,787 (2022: £468,787) from Lynn & Jones (Holdings) Limited its immediate parent undertaking.

At 31 July 2023 the company was owed £168,380 (2022: £211,526) from Lynn & Jones Limited.

13. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mr C Jones and Mrs K Jones.

14. IMMEDIATE CONTROL

The company is under the immediate control of Lynn & Jones (Holdings) Limited.