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REGISTERED NUMBER: 05717148 (England and Wales)










Lytho Limited
Trading as
Yorkshire Fisheries

Unaudited Financial Statements

for the Year Ended 31 March 2024






Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lytho Limited
Trading as Yorkshire Fisheries

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs Maria Menelaou
Mr Pavlos Menelaou





REGISTERED OFFICE: 4 Higherfield
Langho
Blackburn
Lancashire
BB6 8HQ





REGISTERED NUMBER: 05717148 (England and Wales)






Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 18,922 23,653
Tangible assets 5 534,766 538,337
553,688 561,990

CURRENT ASSETS
Stocks 6 5,800 10,740
Debtors 7 181 2,311
Cash at bank and in hand 21,035 38,400
27,016 51,451
CREDITORS
Amounts falling due within one year 8 (134,104 ) (129,922 )
NET CURRENT LIABILITIES (107,088 ) (78,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

446,600

483,519

CREDITORS
Amounts falling due after more than one
year

9

(429,798

)

(455,148

)

PROVISIONS FOR LIABILITIES (12,441 ) (15,834 )
NET ASSETS 4,361 12,537

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,361 11,537
4,361 12,537

Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

Balance Sheet - continued
31 March 2024


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 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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:




Mrs Maria Menelaou - Director



Mr Pavlos Menelaou - Director


Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 Higherfield
Langho
Blackburn
Lancashire
BB6 8HQ

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance and 10% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance


Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

GOODWILL
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class Amortisation method and rate
Goodwill 20% Reducing balance

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

2. ACCOUNTING POLICIES - continued

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

2. ACCOUNTING POLICIES - continued

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 165,429
AMORTISATION
At 1 April 2023 141,776
Amortisation for year 4,731
At 31 March 2024 146,507
NET BOOK VALUE
At 31 March 2024 18,922
At 31 March 2023 23,653

Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 475,000 128,432 24,706 6,845 634,983
Additions 10,000 - - - 10,000
At 31 March 2024 485,000 128,432 24,706 6,845 644,983
DEPRECIATION
At 1 April 2023 - 80,346 14,164 2,136 96,646
Charge for year - 10,521 2,108 942 13,571
At 31 March 2024 - 90,867 16,272 3,078 110,217
NET BOOK VALUE
At 31 March 2024 485,000 37,565 8,434 3,767 534,766
At 31 March 2023 475,000 48,086 10,542 4,709 538,337

Included within the net book value of land and buildings above is £485,000 (2023 - £475,000) in respect of freehold land and buildings.

6. STOCKS
2024 2023
£    £   
Stock 5,800 10,740

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 181 2,311

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and borrowings (see note 10) 26,884 25,124
Hire purchase contracts 1,705 5,114
Trade creditors - 179
Amounts owed to participating interests 33,368 33,368
Corporation tax 25,022 23,877
VAT 23,145 20,630
Wages and salaries control 3,797 3,330
Pension contributions unpaid 220 57
Directors' current accounts 16,933 15,057
Accruals 3,030 3,186
134,104 129,922

Lytho Limited (Registered number: 05717148)
Trading as Yorkshire Fisheries

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 179,798 203,443
Hire purchase contracts - 1,705
Directors' loan accounts 250,000 250,000
429,798 455,148

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Loans and borrowings 10,000 10,000
Bank loan 3 - under 1yr 16,884 15,124
26,884 25,124

Amounts falling due between one and two years:
Loans and borrowings 11,667 21,667
Bank loan 3 (1-2 yrs) 168,131 181,776
179,798 203,443