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Registered number: 02304685
Lydonford Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02304685
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 85,100 85,100
Tangible Assets 5 362,984 362,348
Investment Properties 6 303,593 -
Investments 7 31,500 31,500
783,177 478,948
CURRENT ASSETS
Stocks 3,156,928 4,169,561
Debtors 8 1,766,746 2,088,249
Cash at bank and in hand 2,785,876 1,327,632
7,709,550 7,585,442
Creditors: Amounts Falling Due Within One Year 9 (1,522,311 ) (1,272,057 )
NET CURRENT ASSETS (LIABILITIES) 6,187,239 6,313,385
TOTAL ASSETS LESS CURRENT LIABILITIES 6,970,416 6,792,333
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,257 ) -
NET ASSETS 6,963,159 6,792,333
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 6,962,959 6,792,133
SHAREHOLDERS' FUNDS 6,963,159 6,792,333
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G H Briers
Director
23 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lydonford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02304685 . The registered office is Unit 1 Spring Lane, Short Heath, Willenhall, Westmidlands, WV12 4HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets consists of computer software which is fully amortised and a brand which is not being amortised on the basis that the value can be maintained indefinitely.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Leasehold 25% reducing balance
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing baalnce
Computer Equipment 33.33% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 35)
28 35
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 154,925
As at 31 March 2024 154,925
Amortisation
As at 1 April 2023 69,825
As at 31 March 2024 69,825
Net Book Value
As at 31 March 2024 85,100
As at 1 April 2023 85,100
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5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 April 2023 540,018 121,761 661,779
Additions - 19,200 19,200
Disposals - (12,200 ) (12,200 )
As at 31 March 2024 540,018 128,761 668,779
Depreciation
As at 1 April 2023 196,352 103,079 299,431
Provided during the period 9,709 7,903 17,612
Disposals - (11,248 ) (11,248 )
As at 31 March 2024 206,061 99,734 305,795
Net Book Value
As at 31 March 2024 333,957 29,027 362,984
As at 1 April 2023 343,666 18,682 362,348
6. Investment Property
2024
£
Fair Value
As at 1 April 2023 -
Additions 303,593
As at 31 March 2024 303,593
7. Investments
Unlisted
£
Cost
As at 1 April 2023 31,500
As at 31 March 2024 31,500
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 31,500
As at 1 April 2023 31,500
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,633,648 1,925,318
Other debtors 133,098 162,931
1,766,746 2,088,249
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 491,051 142,833
Amounts owed to participating interests 19,599 19,599
Other creditors 678,144 811,658
Taxation and social security 333,517 297,967
1,522,311 1,272,057
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Shares consist of 100 * Ordinary £1 shares and 100 * Ordinary 'B' shares. Ordinary 'B' shares do not carry voting rights, do not carry and general right to dividends although a dividend may be payable at the discretion of the directors.
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 106,660 103,743
Later than one year and not later than five years 356,987 105,222
Later than five years 13,875 550
477,522 209,515
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