5 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10043644 2023-04-01 2024-03-31 10043644 2024-03-31 10043644 2023-03-31 10043644 2022-04-01 2023-03-31 10043644 2023-03-31 10043644 2022-03-31 10043644 core:PlantMachinery 2023-04-01 2024-03-31 10043644 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10043644 bus:RegisteredOffice 2023-04-01 2024-03-31 10043644 bus:Director1 2023-04-01 2024-03-31 10043644 bus:Director2 2023-04-01 2024-03-31 10043644 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 10043644 core:FurnitureFittingsToolsEquipment 2023-03-31 10043644 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 10043644 core:FurnitureFittingsToolsEquipment 2024-03-31 10043644 core:WithinOneYear 2024-03-31 10043644 core:WithinOneYear 2023-03-31 10043644 core:AfterOneYear 2024-03-31 10043644 core:AfterOneYear 2023-03-31 10043644 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10043644 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10043644 core:ShareCapital 2024-03-31 10043644 core:ShareCapital 2023-03-31 10043644 core:SharePremium 2024-03-31 10043644 core:SharePremium 2023-03-31 10043644 core:RetainedEarningsAccumulatedLosses 2024-03-31 10043644 core:RetainedEarningsAccumulatedLosses 2023-03-31 10043644 core:ShareCapital 2022-03-31 10043644 core:SharePremium 2022-03-31 10043644 core:RetainedEarningsAccumulatedLosses 2022-03-31 10043644 core:PreviouslyStatedAmount core:ShareCapital 2024-03-31 10043644 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 10043644 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 10043644 core:FurnitureFittingsToolsEquipment 2023-03-31 10043644 bus:Director1 2023-03-31 10043644 bus:Director1 2024-03-31 10043644 bus:Director1 2022-03-31 10043644 bus:Director1 2023-03-31 10043644 bus:Director1 2022-04-01 2023-03-31 10043644 bus:SmallEntities 2023-04-01 2024-03-31 10043644 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10043644 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10043644 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10043644 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 10043644
Lyndsey Ingram London Limited
Unaudited filleted financial statements
31 March 2024
Lyndsey Ingram London Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Lyndsey Ingram London Limited
Directors and other information
Directors Ms. L Ingram
Mr. S Turnbull
Company number 10043644
Registered office 20 Bourdon Street
London
W1K 3PL
Lyndsey Ingram London Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 103,335 121,371
_______ _______
103,335 121,371
Current assets
Stocks 969,775 766,830
Debtors 6 518,011 306,298
Cash at bank and in hand 702,643 1,019,012
_______ _______
2,190,429 2,092,140
Creditors: amounts falling due
within one year 7 ( 598,331) ( 473,823)
_______ _______
Net current assets 1,592,098 1,618,317
_______ _______
Total assets less current liabilities 1,695,433 1,739,688
Creditors: amounts falling due
after more than one year 8 ( 200,000) ( 300,000)
Provisions for liabilities ( 1,498) ( 1,498)
_______ _______
Net assets 1,493,935 1,438,190
_______ _______
Capital and reserves
Called up share capital 10 10
Share premium account 300,000 300,000
Profit and loss account 1,193,925 1,138,180
_______ _______
Shareholders funds 1,493,935 1,438,190
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 November 2024 , and are signed on behalf of the board by:
Ms. L Ingram
Director
Company registration number: 10043644
Lyndsey Ingram London Limited
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 April 2022 10 300,000 653,503 953,513
Profit for the year 484,677 484,677
_______ _______ _______ _______
Total comprehensive income for the year - - 484,677 484,677
_______ _______ _______ _______
At 31 March 2023 and 1 April 2023 10 300,000 1,138,180 1,438,190
Profit for the year 55,745 55,745
_______ _______ _______ _______
Total comprehensive income for the year - - 55,745 55,745
_______ _______ _______ _______
At 31 March 2024 10 300,000 1,193,925 1,493,935
_______ _______ _______ _______
Lyndsey Ingram London Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Bourdon Street, London, W1K 3PL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Over the lease term
Plant and machinery - 33.33 % straight line
Fittings fixtures and equipment - 25.00 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 276,002 197,097
Social security costs 25,320 23,335
Other pension costs 2,079 1,359
_______ _______
303,401 221,791
_______ _______
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 260,298 78,543 338,841
Additions 8,712 - 8,712
_______ _______ _______
At 31 March 2024 269,010 78,543 347,553
_______ _______ _______
Depreciation
At 1 April 2023 144,168 73,302 217,470
Charge for the year 26,052 696 26,748
_______ _______ _______
At 31 March 2024 170,220 73,998 244,218
_______ _______ _______
Carrying amount
At 31 March 2024 98,790 4,545 103,335
_______ _______ _______
At 31 March 2023 116,130 5,241 121,371
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 325,540 142,722
Other debtors 192,471 163,576
_______ _______
518,011 306,298
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 115,096 100,000
Trade creditors 128,414 90,805
Corporation tax 24,019 123,674
Social security and other taxes 9,068 15,107
Other creditors 321,734 144,237
_______ _______
598,331 473,823
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 200,000 300,000
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms. L Ingram ( 18,728) 23,136 4,408
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms. L Ingram ( 19,043) 315 ( 18,728)
_______ _______ _______