1 April 2024 v2025.43.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP110284222024-04-012025-03-31110284222025-03-31110284222024-03-3111028422core:WithinOneYear2025-03-3111028422core:WithinOneYear2024-03-3111028422core:AfterOneYear2025-03-3111028422core:AfterOneYear2024-03-3111028422core:ShareCapital2025-03-3111028422core:ShareCapital2024-03-3111028422core:RevaluationReserve2025-03-3111028422core:RevaluationReserve2024-03-3111028422core:RetainedEarningsAccumulatedLosses2025-03-3111028422core:RetainedEarningsAccumulatedLosses2024-03-3111028422bus:Director12024-04-012025-03-3111028422bus:Director22024-04-012025-03-3111028422bus:RegisteredOffice2024-04-012025-03-3111028422core:LandBuildings2024-04-0111028422core:LandBuildings2024-04-012025-03-3111028422core:LandBuildings2025-03-3111028422core:LandBuildings2024-03-31110284222024-04-011102842212024-04-012025-03-31110284222023-04-012024-03-3111028422countries:EnglandWales2024-04-012025-03-3111028422bus:AuditExemptWithAccountantsReport2024-04-012025-03-3111028422bus:PrivateLimitedCompanyLtd2024-04-012025-03-3111028422bus:SmallEntities2024-04-012025-03-3111028422bus:FullAccounts2024-04-012025-03-31
Company registration number:
11028422
Lynn'S Lets Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2025
Lynn'S Lets Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Lynn'S Lets Limited
Year ended
31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Lynn'S Lets Limited
for the year ended
31 March 2025
which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Lynn'S Lets Limited
, as a body, in accordance with the terms of my engagement letter dated 24 January 2025. My work has been undertaken solely to prepare for your approval the
financial statements
of
Lynn'S Lets Limited
and state those matters that I have agreed to state to the Board of Directors of
Lynn'S Lets Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Lynn'S Lets Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Lynn'S Lets Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Lynn'S Lets Limited
. You consider that
Lynn'S Lets Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Lynn'S Lets Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
West Bridgford Accountancy Limited
Chartered Accountant
43 Edward Road
West Bridgford
Nottingham
Nottinghamshire
NG2 5GE
United Kingdom
Date:
3 July 2025
Lynn'S Lets Limited
Statement of Financial Position
31 March 2025
20252024
as restated
Note££
Fixed assets    
Tangible assets 5
1,845,784
 
1,695,284
 
Current assets    
Cash at bank and in hand
7,658
 
595
 
Creditors: amounts falling due within one year 6
(31,571
)
(29,329
)
Net current liabilities
(23,913
)
(28,734
)
Total assets less current liabilities 1,821,871   1,666,550  
Creditors: amounts falling due after more than one year 7
(1,322,863
)
(1,368,251
)
Provisions for liabilities
(96,327
)
(56,445
)
Net assets
402,681
 
241,854
 
Capital and reserves    
Called up share capital
2
 
2
 
Revaluation reserve
267,173
 
156,555
 
Profit and loss account
135,506
 
85,297
 
Shareholders funds
402,681
 
241,854
 
For the year ending
31 March 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
3 July 2025
, and are signed on behalf of the board by:
D Parker
L Parker
DirectorDirector
Company registration number:
11028422
Lynn'S Lets Limited
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
6 Gleneagles Court
,
Edwalton
,
Nottingham
,
NG12 4DN
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland' and with the Companies Act 2006.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2023. Details of how FRS 102 has affected the reported financial position and financial performance is given in the transition to FRS 102 note.

Current tax

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.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2024: Nil).

5 Tangible assets

Land and buildings
£
Cost or valuation  
At
1 April 2024
as restated
1,695,284
 
Revaluations
150,500
 
At
31 March 2025
1,845,784
 
Depreciation  
At
1 April 2024
and
31 March 2025
-  
Carrying amount  
At
31 March 2025
1,845,784
 
At 31 March 2024
1,695,284
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20252024
as restated
££
Aggregate historical cost 1,482,284   1,482,284  
Carrying amount 1,482,284   1,482,284  
The properties were revalued by the directors.

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2025
£
Carrying amount at
1 April 2024
1,695,284
 
Fair value adjustments
150,500
 
Carrying amount at
31 March 2025
1,845,784
 

6 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
17,820
 
19,545
 
Taxation and social security
13,001
 
8,984
 
Other creditors
750
 
800
 
31,571
 
29,329
 

7 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
433,794
 
522,250
 
Other creditors
889,069
 
846,001
 
1,322,863
 
1,368,251
 
The bank loans are secured on the property to which they relate.

8 Prior period errors

The financial statements have been restated to take account of the revaluation of the investment properties.

9 Controlling party

The company is under control of the directors.