Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Oliver James Lyon 22/12/2016 Amy Rebecca Lyon 22/12/2016 20 August 2024 The principal activity of the Company during the financial year was that of the operation of a campsite. SC553245 2023-12-31 SC553245 bus:Director1 2023-12-31 SC553245 bus:Director2 2023-12-31 SC553245 2022-12-31 SC553245 core:CurrentFinancialInstruments 2023-12-31 SC553245 core:CurrentFinancialInstruments 2022-12-31 SC553245 core:Non-currentFinancialInstruments 2023-12-31 SC553245 core:Non-currentFinancialInstruments 2022-12-31 SC553245 core:ShareCapital 2023-12-31 SC553245 core:ShareCapital 2022-12-31 SC553245 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC553245 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC553245 core:Goodwill 2022-12-31 SC553245 core:Goodwill 2023-12-31 SC553245 core:LandBuildings 2022-12-31 SC553245 core:OtherPropertyPlantEquipment 2022-12-31 SC553245 core:LandBuildings 2023-12-31 SC553245 core:OtherPropertyPlantEquipment 2023-12-31 SC553245 bus:OrdinaryShareClass1 2023-12-31 SC553245 2023-01-01 2023-12-31 SC553245 bus:FilletedAccounts 2023-01-01 2023-12-31 SC553245 bus:SmallEntities 2023-01-01 2023-12-31 SC553245 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC553245 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC553245 bus:Director1 2023-01-01 2023-12-31 SC553245 bus:Director2 2023-01-01 2023-12-31 SC553245 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 SC553245 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 SC553245 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-01-01 2023-12-31 SC553245 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 SC553245 2022-01-01 2022-12-31 SC553245 core:Goodwill 2023-01-01 2023-12-31 SC553245 core:LandBuildings 2023-01-01 2023-12-31 SC553245 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC553245 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 SC553245 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC553245 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC553245 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC553245 (Scotland)

LYON & LYON PARTNERS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

LYON & LYON PARTNERS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

LYON & LYON PARTNERS LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
LYON & LYON PARTNERS LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 6,667 8,667
Tangible assets 4 1,177,005 1,079,897
1,183,672 1,088,564
Current assets
Stocks 4,750 4,750
Debtors 5 3,193 2,216
7,943 6,966
Creditors: amounts falling due within one year 6 ( 166,516) ( 148,388)
Net current liabilities (158,573) (141,422)
Total assets less current liabilities 1,025,099 947,142
Creditors: amounts falling due after more than one year 7 ( 862,665) ( 862,419)
Provision for liabilities ( 85,018) ( 63,129)
Net assets 77,416 21,594
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 77,414 21,592
Total shareholders' funds 77,416 21,594

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lyon & Lyon Partners Ltd (registered number: SC553245) were approved and authorised for issue by the Board of Directors on 20 August 2024. They were signed on its behalf by:

Oliver James Lyon
Director
LYON & LYON PARTNERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
LYON & LYON PARTNERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lyon & Lyon Partners Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lyon & Lyon Partners Ltd, Speyside Gardens Caravan Park, Aberlour, AB38 9LD, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £158,573 (2022 - £141,422). The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at last 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for caravan and camping site rentals, gas sales, caravan sales, and shop sales net of vat and trade discounts. Turnover is recognised on the accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 5 - 8 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 20,000 20,000
At 31 December 2023 20,000 20,000
Accumulated amortisation
At 01 January 2023 11,333 11,333
Charge for the financial year 2,000 2,000
At 31 December 2023 13,333 13,333
Net book value
At 31 December 2023 6,667 6,667
At 31 December 2022 8,667 8,667

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 957,039 345,656 1,302,695
Additions 19,412 167,347 186,759
At 31 December 2023 976,451 513,003 1,489,454
Accumulated depreciation
At 01 January 2023 94,441 128,357 222,798
Charge for the financial year 19,261 70,390 89,651
At 31 December 2023 113,702 198,747 312,449
Net book value
At 31 December 2023 862,749 314,256 1,177,005
At 31 December 2022 862,598 217,299 1,079,897

5. Debtors

2023 2022
£ £
Other debtors 3,193 2,216

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 58,129 73,312
Trade creditors 9,940 21,444
Accruals 4,582 4,957
Other taxation and social security 4,589 280
Obligations under finance leases and hire purchase contracts 59,615 37,151
Other creditors 29,661 11,244
166,516 148,388

The bank loan and overdraft are secured by way of standard security and a floating charge.

The company bank loan was granted under the Coronavirus Business Interruption Loan Scheme which is partly guaranteed by the UK government and also secured by way of a floating charge over the assets of the company.

The obligations under hire purchase contracts are secured over the assets which the agreement relate to.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 272,815 304,292
Amounts owed to directors 430,380 475,621
Obligations under finance leases and hire purchase contracts 159,470 82,506
862,665 862,419

The bank loan and overdraft are secured by way of standard security and a floating charge.

The company bank loan was granted under the Coronavirus Business Interruption Loan Scheme which is partly guaranteed by the UK government and also secured by way of a floating charge over the assets of the company.

The obligations under hire purchase contracts are secured over the assets which the agreement relate to.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary Shares shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Key Management Personnel 430,380 471,621

The above loan is unsecured, interest free and is included within creditors falling due more than one year after the balance sheet date.