IRIS Accounts Production v24.3.0.553 02132710 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021327102023-03-31021327102024-03-31021327102023-04-012024-03-31021327102022-03-31021327102022-04-012023-03-31021327102023-03-3102132710ns15:EnglandWales2023-04-012024-03-3102132710ns14:PoundSterling2023-04-012024-03-3102132710ns10:Director12023-04-012024-03-3102132710ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102132710ns10:SmallEntities2023-04-012024-03-3102132710ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102132710ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102132710ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102132710ns10:FullAccounts2023-04-012024-03-310213271012023-04-012024-03-3102132710ns10:Director22023-04-012024-03-3102132710ns10:Director32023-04-012024-03-3102132710ns10:CompanySecretary12023-04-012024-03-3102132710ns10:RegisteredOffice2023-04-012024-03-3102132710ns5:CurrentFinancialInstruments2024-03-3102132710ns5:CurrentFinancialInstruments2023-03-3102132710ns5:ShareCapital2024-03-3102132710ns5:ShareCapital2023-03-3102132710ns5:RetainedEarningsAccumulatedLosses2024-03-3102132710ns5:RetainedEarningsAccumulatedLosses2023-03-3102132710ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3102132710ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3102132710ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3102132710ns5:FurnitureFittings2023-04-012024-03-3102132710ns5:MotorVehicles2023-04-012024-03-3102132710ns5:ComputerEquipment2023-04-012024-03-3102132710ns5:IntangibleAssetsOtherThanGoodwill2023-03-3102132710ns5:IntangibleAssetsOtherThanGoodwill2024-03-3102132710ns5:IntangibleAssetsOtherThanGoodwill2023-03-3102132710ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3102132710ns5:FurnitureFittings2023-03-3102132710ns5:MotorVehicles2023-03-3102132710ns5:ComputerEquipment2023-03-3102132710ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3102132710ns5:FurnitureFittings2024-03-3102132710ns5:MotorVehicles2024-03-3102132710ns5:ComputerEquipment2024-03-3102132710ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3102132710ns5:FurnitureFittings2023-03-3102132710ns5:MotorVehicles2023-03-3102132710ns5:ComputerEquipment2023-03-3102132710ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3102132710ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3102132710ns5:WithinOneYear2024-03-3102132710ns5:WithinOneYear2023-03-3102132710ns5:BetweenOneFiveYears2024-03-3102132710ns5:BetweenOneFiveYears2023-03-3102132710ns5:AllPeriods2024-03-3102132710ns5:AllPeriods2023-03-31021327101ns10:Director12023-03-31021327101ns10:Director12022-03-31021327101ns10:Director12023-04-012024-03-31021327101ns10:Director12022-04-012023-03-31021327101ns10:Director12024-03-31021327101ns10:Director12023-03-31
REGISTERED NUMBER: 02132710 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Lindy Electronics Limited

Lindy Electronics Limited (Registered number: 02132710)






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


Lindy Electronics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D N Casey
Mrs C E Casey
Mrs L J Gray





SECRETARY: D N Casey





REGISTERED OFFICE: Unit 103 Sadler Forster Way
Teesside Industrial Estate
Thornaby
Stockton-on-Tees
TS17 9JY





REGISTERED NUMBER: 02132710 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Lindy Electronics Limited (Registered number: 02132710)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,573,653 1,593,592
1,573,653 1,593,592

CURRENT ASSETS
Stocks 2,079,487 2,318,638
Debtors 6 603,549 1,099,286
Investments 7 730,247 742,523
Cash at bank and in hand 997,295 431,716
4,410,578 4,592,163
CREDITORS
Amounts falling due within one year 8 374,379 646,812
NET CURRENT ASSETS 4,036,199 3,945,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,609,852

5,538,943

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 5,604,852 5,533,943
5,609,852 5,538,943

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.

Lindy Electronics Limited (Registered number: 02132710)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





D N Casey - Director


Lindy Electronics Limited (Registered number: 02132710)

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

1. STATUTORY INFORMATION

Lindy Electronics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 2% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Lindy Electronics Limited (Registered number: 02132710)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
The company holds investments in both investment bonds and unlisted shares.

Investment bonds are priced daily and publicly traded. Fair value at the balance sheet date is determined according to the valuation provided by the professional fund managers.

Unlisted shares are valued at cost due to the absence of a reliable fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 1,000
AMORTISATION
At 1 April 2023
and 31 March 2024 1,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Lindy Electronics Limited (Registered number: 02132710)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,457,468 433,416 321,636 164,189 2,376,709
Additions - 1,837 53,740 5,734 61,311
Disposals - - (92,566 ) (54,393 ) (146,959 )
At 31 March 2024 1,457,468 435,253 282,810 115,530 2,291,061
DEPRECIATION
At 1 April 2023 147,943 288,347 195,842 150,985 783,117
Charge for year 29,584 11,041 33,237 7,388 81,250
Eliminated on disposal - - (92,566 ) (54,393 ) (146,959 )
At 31 March 2024 177,527 299,388 136,513 103,980 717,408
NET BOOK VALUE
At 31 March 2024 1,279,941 135,865 146,297 11,550 1,573,653
At 31 March 2023 1,309,525 145,069 125,794 13,204 1,593,592

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 551,997 783,375
Other debtors 51,552 315,911
603,549 1,099,286

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 60,019 40,951
Other 670,228 701,572
730,247 742,523

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 144,113 319,687
Taxation and social security 136,397 179,104
Other creditors 93,869 148,021
374,379 646,812

Lindy Electronics Limited (Registered number: 02132710)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 23,614 37,752
Between one and five years - 22,223
23,614 59,975

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
D N Casey
Balance outstanding at start of year - 11,159
Amounts advanced - 87
Amounts repaid - (11,246 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -