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Registered Number: 07484952
England and Wales

 

 

 

LYND PRODUCTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Directors Colin Paine
Jill Paine
Registered Number 07484952
Registered Office Shalom
Main Street
Summerbridge
North Yorkshire
HG3 4JR
Accountants Best Accountancy Services Ltd
Harrogate Business Centre, Hammerain House
Hookstone Avenue
Harrogate
North Yorkshire
HG2 8ER
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 31,286    3,132 
31,286    3,132 
Current assets      
Stocks 4 13,383    12,746 
Debtors 5 64,083    45,664 
Cash at bank and in hand 64,216    54,705 
141,682    113,115 
Creditors: amount falling due within one year 6 (65,603)   (52,620)
Net current assets 76,079    60,495 
 
Total assets less current liabilities 107,365    63,627 
Creditors: amount falling due after more than one year 7 (10,846)   (7,250)
Provisions for liabilities 8 (1,754)   (1,753)
Net assets 94,765    54,624 
 

Capital and reserves
     
Called up share capital 150    150 
Capital Redemption Reserve 9 60    60 
Profit and loss account 94,555    54,414 
Shareholders' funds 94,765    54,624 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 October 2024 and were signed on its behalf by:


-------------------------------
Colin Paine
Director
2
General Information
Lynd Products Limited is a private company, limited by shares, registered in England and Wales, registration number 07484952, registration address Shalom, Main Street, Summerbridge, North Yorkshire, HG3 4JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20%
Plant and Machinery 25%
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 March 2023 18,849    1,588    20,437 
Additions   49,442    49,442 
Disposals    
At 29 February 2024 18,849    51,030    69,879 
Depreciation
At 01 March 2023 16,972    9,030    26,002 
Charge for year 1,877    10,714    12,591 
On disposals    
At 29 February 2024 18,849    19,744    38,593 
Net book values
Closing balance as at 29 February 2024   31,286    31,286 
Opening balance as at 01 March 2023 1,878    1,254    3,132 

The net book value of Motor Vehicles includes £ 30,375 in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stocks 13,383    12,746 
13,383    12,746 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 58,927    35,624 
Other Debtors 5,156    10,040 
64,083    45,664 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 9,609    9,147 
Bank Loans & Overdrafts 3,000    3,000 
Taxation and Social Security 47,010    38,671 
Obligations under HP/Financial Leases 4,522   
Other Creditors 1,462    1,802 
65,603    52,620 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 4,243    7,250 
Obligations under HP/Financial Leases 6,603   
10,846    7,250 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,754    1,753 
1,754    1,753 

9.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 60    60 
60    60 

10.

Advances and Credits



Colin Paine
During the year ended 29th February 2024, £90,229 was advanced to the Company by the Director, and £90,660 of the outstanding loans and advances were repaid to the Director. The loans were interest free and repayable on demand.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Colin Paine(801)90,660 90,229 (370)
-8019066009022900-370
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Colin Paine(394)117,094 117,501 (801)
-394117094011750100-801
3