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Registration number: 12328038

Lymey Antiques Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 December 2023 to 31 March 2025

 

Lymey Antiques Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Lymey Antiques Limited

Company Information

Directors

Mr Douglas Andrews

Mrs Linda Susan Peadon

Registered office

19 Staples Terrace
Lyme Regis
Dorset
DT7 3DX

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lymey Antiques Limited
for the Period Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lymey Antiques Limited for the period ended 31 March 2025 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Lymey Antiques Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lymey Antiques Limited and state those matters that we have agreed to state to the Board of Directors of Lymey Antiques Limited, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lymey Antiques Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lymey Antiques Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lymey Antiques Limited. You consider that Lymey Antiques Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Lymey Antiques Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

26 August 2025

 

Lymey Antiques Limited

(Registration number: 12328038)
Abridged Balance Sheet as at 31 March 2025

Note

2025
£

2023
£

Fixed assets

 

Intangible assets

4

6,300

7,550

Current assets

 

Stocks

5

-

4,000

Debtors

6

78

78

Cash at bank and in hand

 

42,798

112,025

 

42,876

116,103

Creditors: Amounts falling due within one year

(37,576)

(45,736)

Net current assets

 

5,300

70,367

Total assets less current liabilities

 

11,600

77,917

Accruals and deferred income

 

(336)

(990)

Net assets

 

11,264

76,927

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

11,164

76,827

Shareholders' funds

 

11,264

76,927

For the financial period 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

 

Lymey Antiques Limited

(Registration number: 12328038)
Abridged Balance Sheet as at 31 March 2025

.........................................
Mr Douglas Andrews
Director

 

Lymey Antiques Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2023 to 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
19 Staples Terrace
Lyme Regis
Dorset
DT7 3DX
England

These financial statements were authorised for issue by the Board on 26 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Lymey Antiques Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2023 to 31 March 2025

Asset class

Amortisation method and rate

Goodwill

Over ten years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2023 - 1).

 

Lymey Antiques Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2023 to 31 March 2025

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

12,500

At 31 March 2025

12,500

Amortisation

At 1 December 2023

4,950

Amortisation charge

1,250

At 31 March 2025

6,200

Carrying amount

At 31 March 2025

6,300

At 30 November 2023

7,550

5

Stocks

2025
£

2023
£

Merchandise

-

4,000

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Dividends

2025

2023

£

£

Interim dividend of £500.00 (2023 - £345.00) per ordinary share

50,000

34,500

 

 
 

Lymey Antiques Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2023 to 31 March 2025

9

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2025
£

2023
£

Remuneration

12,128

9,096