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REGISTERED NUMBER: 04652501 (England and Wales)















Lynch & Calver Flooring Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Lynch & Calver Flooring Limited (Registered number: 04652501)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Lynch & Calver Flooring Limited

Company Information
for the Year Ended 31 March 2024







Director: I Calver





Secretary: I Calver





Registered office: Unit 4 Bessemer Way
Harfreys Industrial Estate
Great Yarmouth
Norfolk
NR31 0LX





Registered number: 04652501 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Lynch & Calver Flooring Limited (Registered number: 04652501)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 58,288 74,528

Current assets
Stocks 50,464 51,057
Debtors 5 32,859 60,102
Cash at bank 100,879 134,484
184,202 245,643
Creditors
Amounts falling due within one year 6 51,012 94,346
Net current assets 133,190 151,297
Total assets less current liabilities 191,478 225,825

Provisions for liabilities 9,722 12,431
Net assets 181,756 213,394

Capital and reserves
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 181,754 213,392
Shareholders' funds 181,756 213,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 July 2024 and were signed by:



I Calver - Director


Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Lynch & Calver Flooring 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the provision of goods to customers. Revenue from goods is recognised at the point the company fulfils its commercial obligation to the customer, and revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured, which is typically upon fitting.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Tools and equipment - 20% on cost
Office equipment - 25% on reducing balance
Motor vehicles - 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.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
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.

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 1 (2023 - 2 ) .

4. Tangible fixed assets
Improvements
to Tools and Office Motor
property equipment equipment vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 30,892 44,012 1,598 20,749 97,251
Depreciation
At 1 April 2023 3,391 3,287 1,036 15,009 22,723
Charge for year 6,178 8,802 112 1,148 16,240
At 31 March 2024 9,569 12,089 1,148 16,157 38,963
Net book value
At 31 March 2024 21,323 31,923 450 4,592 58,288
At 31 March 2023 27,501 40,725 562 5,740 74,528

5. Debtors
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Trade debtors 24,034 48,716
Other debtors 8,825 10,670
32,859 59,386

Amounts falling due after more than one year:
Other debtors - 716

Aggregate amounts 32,859 60,102

Lynch & Calver Flooring Limited (Registered number: 04652501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. Creditors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Trade creditors 38,406 45,719
Taxation and social security 9,737 43,985
Other creditors 2,869 4,642
51,012 94,346

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/24 31/3/23
£    £   
Within one year 17,000 17,000
Between one and five years 41,522 58,522
58,522 75,522

8. Director's advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
I Calver
Balance outstanding at start of year 2,864 3,016
Amounts advanced 255 26,400
Amounts repaid (3,312 ) (26,552 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (193 ) 2,864

A J Lynch
Balance outstanding at start of year - 2,981
Amounts advanced - 160
Amounts repaid - (3,141 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -