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Company No: 04851965 (England and Wales)

M A LYNE MOTORS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

M A LYNE MOTORS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

M A LYNE MOTORS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
M A LYNE MOTORS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR Christian Lyne
REGISTERED OFFICE Great Horringer Hall
Horringer
Bury St. Edmunds
Suffolk
IP29 5PJ
United Kingdom
COMPANY NUMBER 04851965 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
M A LYNE MOTORS LIMITED

BALANCE SHEET

As at 30 June 2024
M A LYNE MOTORS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 222,165 222,887
222,165 222,887
Current assets
Stocks 4 21,246 21,246
Cash at bank and in hand 914 11,103
22,160 32,349
Creditors: amounts falling due within one year 5 ( 59,477) ( 63,033)
Net current liabilities (37,317) (30,684)
Total assets less current liabilities 184,848 192,203
Creditors: amounts falling due after more than one year 6 ( 9,234) ( 19,243)
Net assets 175,614 172,960
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 175,613 172,959
Total shareholder's funds 175,614 172,960

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of M A Lyne Motors Limited (registered number: 04851965) were approved and authorised for issue by the Director on 19 September 2024. They were signed on its behalf by:

Christian Lyne
Director
M A LYNE MOTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
M A LYNE MOTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
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

M A Lyne Motors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Great Horringer Hall, Horringer, Bury St. Edmunds, Suffolk, IP29 5PJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 223,465 223,465
At 30 June 2024 223,465 223,465
Accumulated depreciation
At 01 July 2023 578 578
Charge for the financial year 722 722
At 30 June 2024 1,300 1,300
Net book value
At 30 June 2024 222,165 222,165
At 30 June 2023 222,887 222,887

4. Stocks

2024 2023
£ £
Stocks 21,246 21,246

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,648 56,536
Taxation and social security 855 3,018
Other creditors 47,974 3,479
59,477 63,033

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

2024 2023
£ £
Bank loans 9,234 19,243

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1