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REGISTERED NUMBER: 01664929 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Lyn Oakes Limited

Lyn Oakes Limited (Registered number: 01664929)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


Lyn Oakes Limited (Registered number: 01664929)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,713 84,610

CURRENT ASSETS
Stocks 425,026 390,426
Debtors 5 359,790 384,701
Cash in hand 213 1,025
785,029 776,152
CREDITORS
Amounts falling due within one year 6 592,880 588,025
NET CURRENT ASSETS 192,149 188,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,862

272,737

CREDITORS
Amounts falling due after more than one year 7 44,454 53,754
NET ASSETS 239,408 218,983

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 229,408 208,983
SHAREHOLDERS' FUNDS 239,408 218,983

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 7 August 2024 and were signed on its behalf by:





S L R Oakes - Director


Lyn Oakes Limited (Registered number: 01664929)

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

1. STATUTORY INFORMATION

Lyn Oakes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01664929

Registered office: Central Building
Worcester Road
Stourport on Severn
Worcestershire
DY13 9AS

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.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results in the future could differ from those estimates. Management consider that certain accounting assumptions relating to revenue, goodwill, taxation and provisions are its critical accounting policies.

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

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 etc - 33% on cost, 25% on cost and at varying rates on cost

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 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.

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.

Lyn Oakes Limited (Registered number: 01664929)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 235,394
Additions 38,188
At 31 December 2023 273,582
DEPRECIATION
At 1 January 2023 150,784
Charge for year 31,085
At 31 December 2023 181,869
NET BOOK VALUE
At 31 December 2023 91,713
At 31 December 2022 84,610

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 315,540 360,031
Other debtors 44,250 24,670
359,790 384,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 198,640 166,959
Hire purchase contracts (see note 8) 31,066 25,070
Trade creditors 269,682 287,962
Amounts owed to group undertakings 101 101
Taxation and social security 68,522 68,422
Other creditors 24,869 39,511
592,880 588,025

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,167 23,754
Hire purchase contracts (see note 8) 30,287 30,000
44,454 53,754

Lyn Oakes Limited (Registered number: 01664929)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 31,066 25,070
Between one and five years 30,287 30,000
61,353 55,070

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year - 6,604
Between one and five years - 10,918
- 17,522

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 188,640 156,546
Bank loans 24,167 34,167
Hire purchase contracts 61,353 55,070
274,160 245,783