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REGISTERED NUMBER: 12489243 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

LYBE LIMITED

LYBE LIMITED (REGISTERED NUMBER: 12489243)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LYBE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P Lyons
N S Colquhoun





REGISTERED OFFICE: 323 Smithdown Road
Liverpool
Merseyside
L15 3JA





REGISTERED NUMBER: 12489243 (England and Wales)





ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL

LYBE LIMITED (REGISTERED NUMBER: 12489243)

ABRIDGED BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,513,669 2,513,669

CURRENT ASSETS
Debtors 2,348 1,349
Cash at bank and in hand 31,305 18,496
33,653 19,845
CREDITORS
Amounts falling due within one year 642,359 671,265
NET CURRENT LIABILITIES (608,706 ) (651,420 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,904,963

1,862,249

CREDITORS
Amounts falling due after more than one
year

5

1,604,658

1,626,791
NET ASSETS 300,305 235,458

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 762,639 762,639
Retained earnings (462,434 ) (527,281 )
SHAREHOLDERS' FUNDS 300,305 235,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

LYBE LIMITED (REGISTERED NUMBER: 12489243)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 November 2024 and were signed on its behalf by:




N S Colquhoun - Director



P Lyons - Director


LYBE LIMITED (REGISTERED NUMBER: 12489243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Lybe 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Investment properties are included at open market value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 2,513,669
NET BOOK VALUE
At 30 June 2024 2,513,669
At 30 June 2023 2,513,669

LYBE LIMITED (REGISTERED NUMBER: 12489243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Totals
£   
Valuation in 2022 762,639
Cost 1,751,030
2,513,669

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30/6/24 30/6/23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,518,630 1,543,271

6. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 762,639

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a loan of £300,000 (2023: £300,000) from director, P Lyons. Also an amount of £320,000 from director, N Colquhoun (2023: £350,000). These are both interest free with no set repayment terms.

8. CONTROLLING PARTY

The company is under the joint control of P Lyons, M J Lyons and N Colquhoun.