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W & N LYNCH PROPERTIES LTD

Registered Number
SC760665
(Scotland)

Unaudited Financial Statements for the Period ended
31 August 2024

W & N LYNCH PROPERTIES LTD
Company Information
for the period from 1 March 2023 to 31 August 2024

Directors

Nicola Lynch
Wayne Lynch

Registered Address

97 Barry Road
Kirkcaldy
KY2 6JL

Registered Number

SC760665 (Scotland)
W & N LYNCH PROPERTIES LTD
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Fixed assets
Investment property3122,280
122,280
Current assets
Debtors4780
Cash at bank and on hand5,643
6,423
Creditors amounts falling due within one year5(6,131)
Net current assets (liabilities)292
Total assets less current liabilities122,572
Creditors amounts falling due after one year6(119,536)
Net assets3,036
Capital and reserves
Called up share capital10
Profit and loss account3,026
Shareholders' funds3,036
The financial statements were approved and authorised for issue by the Board of Directors on 7 November 2024, and are signed on its behalf by:
Wayne Lynch
Director
Registered Company No. SC760665
W & N LYNCH PROPERTIES LTD
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Income represents rents receivable in the year.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

2024
Average number of employees during the year2
3.Investment property

£
Additions122,280
At 31 August 24122,280
4.Debtors: amounts due after one year

2024

£
Other debtors780
Total780
5.Creditors: amounts due within one year

2024

£
Bank borrowings and overdrafts4,017
Taxation and social security745
Other creditors350
Accrued liabilities and deferred income1,019
Total6,131
6.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts68,506
Other creditors51,030
Total119,536
Aldermore Bank hold a charge over the investment property.