IRIS Accounts Production v24.3.2.46 03860813 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038608132023-12-31038608132024-12-31038608132024-01-012024-12-31038608132022-12-31038608132023-01-012023-12-31038608132023-12-3103860813ns15:EnglandWales2024-01-012024-12-3103860813ns14:PoundSterling2024-01-012024-12-3103860813ns10:Director12024-01-012024-12-3103860813ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103860813ns10:SmallEntities2024-01-012024-12-3103860813ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3103860813ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103860813ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103860813ns10:AbridgedAccounts2024-01-012024-12-310386081312024-01-012024-12-3103860813ns10:Director22024-01-012024-12-3103860813ns10:RegisteredOffice2024-01-012024-12-3103860813ns5:CurrentFinancialInstruments2024-12-3103860813ns5:CurrentFinancialInstruments2023-12-3103860813ns5:Non-currentFinancialInstruments2024-12-3103860813ns5:Non-currentFinancialInstruments2023-12-3103860813ns5:ShareCapital2024-12-3103860813ns5:ShareCapital2023-12-3103860813ns5:RetainedEarningsAccumulatedLosses2024-12-3103860813ns5:RetainedEarningsAccumulatedLosses2023-12-3103860813ns5:NetGoodwill2024-01-012024-12-3103860813ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3103860813ns5:LeaseholdImprovements2024-01-012024-12-3103860813ns5:PlantMachinery2024-01-012024-12-3103860813ns5:FurnitureFittings2024-01-012024-12-3103860813ns5:MotorVehicles2024-01-012024-12-3103860813ns5:ComputerEquipment2024-01-012024-12-3103860813ns5:Secured2024-12-3103860813ns5:Secured2023-12-31
REGISTERED NUMBER: 03860813 (England and Wales)













Financial Statements

for the Year Ended 31 December 2024

for

Lynx AC Limited

Lynx AC Limited (Registered number: 03860813)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Lynx AC Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr R J Pygott
Mrs R D Pygott





REGISTERED OFFICE: Unit 25 Lincoln Enterprise Park
Newark Road
Aubourn
LINCOLN
Lincolnshire
LN5 9FP





REGISTERED NUMBER: 03860813 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Lynx AC Limited (Registered number: 03860813)

Abridged Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,250 21,000
Tangible assets 5 242,492 248,403
259,742 269,403

CURRENT ASSETS
Stocks 27,935 41,419
Debtors 455,206 255,716
Cash at bank and in hand 654,625 698,097
1,137,766 995,232
CREDITORS
Amounts falling due within one year 592,502 588,401
NET CURRENT ASSETS 545,264 406,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,006

676,234

CREDITORS
Amounts falling due after more than
one year

(46,166

)

(72,048

)

PROVISIONS FOR LIABILITIES (50,786 ) (47,587 )
NET ASSETS 708,054 556,599

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 707,954 556,499
SHAREHOLDERS' FUNDS 708,054 556,599

Lynx AC Limited (Registered number: 03860813)

Abridged Statement of Financial Position - continued
31 December 2024


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

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

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 Statement of Financial Position for the year ended 31 December 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 11 April 2025 and were signed on its behalf by:





Mr R J Pygott - Director


Lynx AC Limited (Registered number: 03860813)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Lynx AC 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.

Preparation of consolidated financial statements
The financial statements contain information about Lynx AC Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost and 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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.

Lynx AC Limited (Registered number: 03860813)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument

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.

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 money purchase pension scheme. Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate.

Lynx AC Limited (Registered number: 03860813)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 39,850
AMORTISATION
At 1 January 2024 18,850
Amortisation for year 3,750
At 31 December 2024 22,600
NET BOOK VALUE

At 31 December 2024 17,250
At 31 December 2023 21,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 476,436
Additions 47,180
At 31 December 2024 523,616
DEPRECIATION
At 1 January 2024 228,033
Charge for year 53,091
At 31 December 2024 281,124
NET BOOK VALUE
At 31 December 2024 242,492
At 31 December 2023 248,403

6. LEASING AGREEMENTS

The minimum lease payments under non-cancellable operating leases fall due as follows £56,875 (2023 £89,375).

Lynx AC Limited (Registered number: 03860813)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
HP within 1 year 25,703 29,081
HP over 1 year 26,089 46,649
51,792 75,730

Hire Purchase arrangements are fixed term and secured over the assets to which they relate.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The loan is unsecured and interest was charged on any overdrawn director's loan account balance that arose during the period at the rate of 2.0%.

9. RELATED PARTY DISCLOSURES

Included in creditors due within one year is Mr R J Pygott's directors loan account balance of £13,481 (2023: £26,879) unsecured and interest free.

During the year dividends amounting to £145,000 (2023: £318,000) were paid to the holding company,

Lynx AC (Holdings) Ltd

The above company is a 100% shareholder of Lynx AC Ltd. Included in debtors is a balance of £12,155 (2023: £12,155).