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REGISTERED NUMBER: 11592523 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LYNEAL GROUP LTD

LYNEAL GROUP LTD (REGISTERED NUMBER: 11592523)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LYNEAL GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M D Jones
D A Cartlidge





REGISTERED OFFICE: 2 Charlesworth Court
Knights Way
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AB





REGISTERED NUMBER: 11592523 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. (Audit) Limited
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

LYNEAL GROUP LTD (REGISTERED NUMBER: 11592523)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 5 135,857 136,772

CURRENT ASSETS
Debtors 6 10,555 933,470
Cash at bank 144 6,146
10,699 939,616
CREDITORS
Amounts falling due within one year 7 136,342 500,745
NET CURRENT (LIABILITIES)/ASSETS (125,643 ) 438,871
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,214

575,643

CAPITAL AND RESERVES
Called up share capital 8 668 668
Capital redemption reserve 9 27 27
Retained earnings 9 9,519 574,948
SHAREHOLDERS' FUNDS 10,214 575,643

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

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





M D Jones - Director


LYNEAL GROUP LTD (REGISTERED NUMBER: 11592523)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Lyneal Group Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

At the balance sheet date the company had net current liabilities of £125,643 (2022: net current assets of £438,871). As shown in the creditors due within one year note, amounts owed to group companies total £120,424 (2022: £486,705). The directors have reviewed the support of group companies and fully expect it to continue for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Lyneal Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including amounts owed by group undertakings and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

(ii) Financial liabilities

Basic financial liabilities, including amounts owed to group undertakings, are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


LYNEAL GROUP LTD (REGISTERED NUMBER: 11592523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 100,698 36,074 136,772
Additions - 728 728
Revaluations - (1,643 ) (1,643 )
At 31 December 2023 100,698 35,159 135,857
NET BOOK VALUE
At 31 December 2023 100,698 35,159 135,857
At 31 December 2022 100,698 36,074 136,772

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2020 - 27,128 27,128
Valuation in 2021 - 11,684 11,684
Valuation in 2022 - (44,759 ) (44,759 )
Valuation in 2023 - (1,648 ) (1,648 )
Cost 100,698 42,754 143,452
100,698 35,159 135,857

LYNEAL GROUP LTD (REGISTERED NUMBER: 11592523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 10,555 933,470

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 126 -
Amounts owed to group undertakings 120,424 486,705
Tax 11,020 12,168
Accruals and deferred income 4,772 1,872
136,342 500,745

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
66,842 Ordinary £0.01 668 668

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 574,948 27 574,975
Profit for the year 980,857 980,857
Contribution to Lyneal Group EOT (1,546,286 ) - (1,546,286 )
At 31 December 2023 9,519 27 9,546

The contribution to Lyneal Group EOT represents contributions paid to the Employee Ownership Trust to enable it to fund the deferred consideration in respect of the share purchase.

10. CONTINGENT LIABILITIES

The company is committed to funding regular annual contributions to cover deferred consideration and accrued interest to former shareholders. As at 31 December 2023 the amount of deferred consideration due was c£6.9m plus interest accrued.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Lyneal Group Employee Ownership Trust by virtue of a controlling shareholding in Lyneal Group Limited.