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LYPAR (LANDSTONE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Lypar (Landstone) Limited is a Company, limited by shares, and incorporated in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP.
The financial statements are presented in sterling which is the functional currency of the Company
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis which assumes that the Company will continue in operation for the foreseeable future and remains reliant upon the ongoing support of its parent undertaking.
The directors have not had formal assurance from the parent Company, who is the Company's major creditor, that it shall continue to maintain its financial support of the Company, by deferment of the amounts due to it or by other means. However, the directors at the present time do not expect this support to be withdrawn.
The directors are therefore satisfied that the Company will have sufficient resources to enable it to continue normal trading operations for the foreseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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