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REGISTERED NUMBER: 09343425 (England and Wales)
















Lyn Michel Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Lyn Michel Limited (Registered number: 09343425)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lyn Michel Limited

Company Information
for the Year Ended 31st March 2024







Directors: Ms. C Harris
Mr. C F H Michel
Mr T H M Buisson





Registered office: 46 Elsworthy Road
London
London
NW3 3BU





Registered number: 09343425 (England and Wales)





Accountants: AN Accountancy
Accountants
4th Floor
100 Fenchurch Street
London
United Kingdom
EC3M 5JD

Lyn Michel Limited (Registered number: 09343425)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 22,514 24,349
Tangible assets 5 228,982 121,876
Investments 6 15,138 4,182
266,634 150,407

Current assets
Stocks 286,587 141,150
Debtors 7 1,271,374 621,177
Cash at bank and in hand 267,420 78,458
1,825,381 840,785
Creditors
Amounts falling due within one year 8 487,319 281,093
Net current assets 1,338,062 559,692
Total assets less current liabilities 1,604,696 710,099

Creditors
Amounts falling due after more than one
year

9

13,091

23,274
Net assets 1,591,605 686,825

Capital and reserves
Called up share capital 10 8,099 325
Share premium 1,720,077 756,708
Retained earnings (136,571 ) (70,208 )
Shareholders' funds 1,591,605 686,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Lyn Michel Limited (Registered number: 09343425)

Statement of Financial Position - continued
31st 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 19th October 2024 and were signed on its behalf by:





Mr. C F H Michel - Director


Lyn Michel Limited (Registered number: 09343425)

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

1. Statutory information

Lyn Michel 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition
Turnover 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 rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

Development costs are being amortised evenly over their estimated useful life of three 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 property - Over the useful life of 10 years
Fixtures and fittings - 25% reducing balance
Equipment - 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 stock to its present location and condition.


Lyn Michel Limited (Registered number: 09343425)

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

2. Accounting policies - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. Employees and directors

The average number of employees during the year was 25 (2023 - 20 ) .

4. Intangible fixed assets
Patents
and Development
licences costs Totals
£    £    £   
Cost
At 1st April 2023 13,908 55,538 69,446
Additions 765 5,700 6,465
At 31st March 2024 14,673 61,238 75,911
Amortisation
At 1st April 2023 2,905 42,192 45,097
Amortisation for year 1,646 6,654 8,300
At 31st March 2024 4,551 48,846 53,397
Net book value
At 31st March 2024 10,122 12,392 22,514
At 31st March 2023 11,003 13,346 24,349

Lyn Michel Limited (Registered number: 09343425)

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

5. Tangible fixed assets
Long Fixtures
leasehold and
property Website fittings Equipment Totals
£    £    £    £    £   
Cost
At 1st April 2023 107,660 30,736 42,538 88,680 269,614
Additions 136,297 - - 15,129 151,426
At 31st March 2024 243,957 30,736 42,538 103,809 421,040
Depreciation
At 1st April 2023 45,566 19,628 34,969 47,575 147,738
Charge for year 21,582 6,774 1,893 14,071 44,320
At 31st March 2024 67,148 26,402 36,862 61,646 192,058
Net book value
At 31st March 2024 176,809 4,334 5,676 42,163 228,982
At 31st March 2023 62,094 11,108 7,569 41,105 121,876

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1st April 2023 4,182
Additions 10,956
At 31st March 2024 15,138
Net book value
At 31st March 2024 15,138
At 31st March 2023 4,182

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Perfumer H France
Registered office: Registered in France
Nature of business: Perfumer
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (574,584 ) (271,071 )
Loss for the year (303,513 ) (266,646 )

Lyn Michel Limited (Registered number: 09343425)

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

6. Fixed asset investments - continued

Perfumer H Japan K.K.
Registered office: Japan
Nature of business: Perfumer
%
Class of shares: holding
Ordinary 100.00
2024
£   
Aggregate capital and reserves 24,578
Profit for the year 14,106

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 635,468 342,274
Other debtors 635,906 278,903
1,271,374 621,177

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,183 9,932
Trade creditors 427,719 205,301
Taxation and social security 25,412 49,191
Other creditors 24,005 16,669
487,319 281,093

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 13,091 23,274

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
24,000 Ordinary .01 240 240
1,000 Ordinary 'B' .01 10 10
7,527 Preferred Shares .01 7,849 75
8,099 325

On 15th May 2023, 7774 Preferred shares were issued at a price of £128.63 per share. These shares ranked pari-pasu with shares in existance of the same class.