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Company Registration No. 08858901 (England and Wales)
CONTEMPORARY LYNX LIMITED Unaudited accounts for the year ended 31 January 2024
CONTEMPORARY LYNX LIMITED Unaudited accounts Contents
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CONTEMPORARY LYNX LIMITED Company Information for the year ended 31 January 2024
Directors
Sylwia Krason-Kozdras Dobromila Blaszczyk
Company Number
08858901 (England and Wales)
Registered Office
Flat 6 1 Prince Edward Road London E9 5NP United Kingdom
Accountants
Taxacc Solutions Ltd 117A St. Johns Hill Sevenoaks Kent TN13 3PE
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CONTEMPORARY LYNX LIMITED Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
1,870 
2,335 
Cash at bank and in hand
11,510 
8,689 
13,380 
11,024 
Creditors: amounts falling due within one year
(9,313)
(14,042)
Net current assets/(liabilities)
4,067 
(3,018)
Net assets/(liabilities)
4,067 
(3,018)
Reserves
Profit and loss account
4,067 
(3,018)
Members' funds
4,067 
(3,018)
For the year ending 31 January 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2024 and were signed on its behalf by
Sylwia Krason-Kozdras Director Company Registration No. 08858901
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CONTEMPORARY LYNX LIMITED Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
CONTEMPORARY LYNX LIMITED is a private company, limited by guarantee, registered in England and Wales, registration number 08858901. The registered office is Flat 6, 1 Prince Edward Road, London, E9 5NP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of land and buildings and certain financial assets and liabilities measured at fair value through profit or loss.
Functional and presentation currency
The company’s functional and presentation currency is the pound sterling.
Foreign exchange
Foreign currency transactions are translated into functional currency using the spot exchange rates at the dates of the transactions. At each period-end foreign currency, monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account except where deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings are presented in the profit and loss account within ‘finance (expense) / income’. All other foreign exchange gains and losses are presented in the profit and loss account within ‘other operating (losses) / gains’.
Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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CONTEMPORARY LYNX LIMITED Notes to the Accounts for the year ended 31 January 2024
Going concern
The company meets its day-to-day working capital requirements through its bank facilities. The current economic conditions continue to create uncertainty over (a) the level of demand for the company’s products. (b) the availability of bank finance for the foreseeable future. The current and future financial position of the Company, its cash flows and liquidity position has been reviewed by the directors. These have been prepared with a very prudent view of the likely gradual recovery in each of the Company's operating locations and have been stress tested to ensure that cash flows and liquidity are sufficiently robust to allow the Company to continue to trade during this period. The company’s forecasts and projections, taking into account a severe but plausible change in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
1,870 
2,335 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
2,311 
- 
Taxes and social security
140 
- 
Other creditors
- 
(298)
Loans from directors
6,862 
14,340 
9,313 
14,042 
6
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7
Transactions with related parties
Sylwia Krason and Dobromila Blaszczyk (Directors) were owed £9,066 (2022: £8,330) and £2,846 (2022: £3,708) respectively at the year end. This is due to expenses and loan paid by both directors on behalf of the company during the year. No interest has been changed by the Directors on the amount outstanding. In addition to this £2,427 (2022: £3,235) is owed at the year end by the company to Sylwia Krason for directors salaries.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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