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Company registration number: 02686537
Lynx Auto Centre Limited
Unaudited filleted financial statements
31 January 2025
Lynx Auto Centre Limited
Contents
Statement of financial position
Notes to the financial statements
Lynx Auto Centre Limited
Statement of financial position
31 January 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 5 | 6,554 |  |  |  | 8,329 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 6,554 |  |  |  | 8,329
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 13,600 |  |  |  | 10,541 |  |
Debtors |  | 6 | 55,835 |  |  |  | 64,175 |  |
Cash at bank and in hand |  |  | 500 |  |  |  | 500 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 69,935 |  |  |  | 75,216 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 7 | ( 95,871) |  |  |  | ( 71,664) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current (liabilities)/assets |  |  |  |  | ( 25,936) |  |  |  | 3,552
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | ( 19,382) |  |  |  | 11,881
|  |  |  |  | _______ |  |  |  | _______
Net (liabilities)/assets |  |  |  |  | ( 19,382) |  |  |  | 11,881
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 40,100 |  |  |  | 40,100
Profit and loss account |  |  |  |  | ( 59,482) |  |  |  | ( 28,219)
|  |  |  |  | _______ |  |  |  | _______
Shareholders (deficit)/funds |  |  |  |  | ( 19,382) |  |  |  | 11,881
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 January 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 May 2026 , and are signed on behalf of the board by:
Rashpal S Bedi
Director
Company registration number: 02686537
Lynx Auto Centre Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Scottish Provident House, 3rd Floor, 76-80 College Road, Harrow, Middlesex, HA1 1BQ. The principal activity of the company is that of selling and fitting tyres, motor vehicle repairs, MOT and selling of accessories.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102,Section 1A,'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have considered the company's financial position, including the renewal of its bank overdraft facility on 19 March 2026 for a further 12 months and a written confirmation of financial support from the shareholders. Trading has stabilised since the year end, and the company continues to manage its creditor balances in the normal course of business. On this basis, the directors consider the going concern basis to be appropriate.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fittings fixtures and equipment | - | 20 % | reducing balance
| Motor vehicles | - | 20 % | straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2024: 6 ).
This includes directors.
5. Tangible assets

|  | Fixtures, fittings and equipment | Motor vehicles | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 February 2024 and 31 January 2025 | 80,982 | 1,360 | 82,342 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 February 2024 | 73,469 | 544 | 74,013 |  |  |  |
| Charge for the year | 1,503 | 272 | 1,775 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 January 2025 | 74,972 | 816 | 75,788 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 January 2025 | 6,010 | 544 | 6,554 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 January 2024 | 7,513 | 816 | 8,329 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

6. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Trade debtors |  | 8,967 | 15,926
| Other debtors |  | 46,868 | 48,249
|  |  | _______ | _______
|  |  | 55,835 | 64,175
|  |  | _______ | _______

Included in other debtors are amounts owed : (a) by a connected company of £8,314 (2024 - £8,314), which are unsecured, interest free and repayable on demand. (b) by another connected company of £20,000 (2024 - £20,000) plus accrued interest. These are unsecured and repayable on demand .
7. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank overdrafts |  | 9,850 | 5,286
| Trade creditors |  | 36,790 | 26,994
| Corporation tax |  | 888 | 888
| Social security and other taxes |  | 24,119 | 12,918
| Other creditors |  | 24,224 | 25,578
|  |  | _______ | _______
|  |  | 95,871 | 71,664
|  |  | _______ | _______

Bank overdraft is secured by a debenture over all the company's assets.
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:

| £ | £
Not later than 1 year | - | 19,890
| _______ | _______

9. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2025 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Rashpal S Bedi | ( 8,622) | 3,713 | ( 4,909) |  |  |
| Ranjit S Bedi | 1,474 | ( 1,474) | - |  |  |
| Avtar S Bedi | - | - | - |  |  |
|  | _______ | _______ | _______ |  |  |
|  | ( 7,148) | 2,239 | ( 4,909) |  |  |
|  | _______ | _______ | _______ |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Rashpal S Bedi | 7,364 | ( 15,986) | ( 8,622) |  |  |
| Ranjit S Bedi | 2,980 | ( 1,506) | 1,474 |  |  |
| Avtar S Bedi | 856 | ( 856) | - |  |  |
|  | _______ | _______ | _______ |  |  |
|  | 11,200 | ( 18,348) | ( 7,148) |  |  |
|  | _______ | _______ | _______ |  |  |

10. Related Party
The company paid rent of £30,000 (2024 - £30,000) to directors and shareholders.
11. Controlling party
Mr Rashpal S Bedi is the controlling party.