LYE AND SONS LIMITED

LYE AND SONS LIMITED

LYE AND SONS LIMITED - Company Information

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LYE AND SONS LIMITED

Company Registration Number:
00293382 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2018

Period of accounts

Start date: 01 October 2017

End date: 30 September 2018

LYE AND SONS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2018

Balance sheet
Notes

LYE AND SONS LIMITED

Balance sheet

As at 30 September 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 2 2,450,398 1,095,145
Investments: 3 643,499 643,499
Total fixed assets: 3,093,897 1,738,644
Current assets
Debtors:   2,797,808 2,787,546
Total current assets: 2,797,808 2,787,546
Creditors: amounts falling due within one year:   (78,578) (85,576)
Net current assets (liabilities): 2,719,230 2,701,970
Total assets less current liabilities: 5,813,127 4,440,614
Provision for liabilities: (150,387) 0
Total net assets (liabilities): 5,662,740 4,440,614
Capital and reserves
Called up share capital: 198,434 198,434
Profit and loss account: 5,464,306 4,242,180
Shareholders funds: 5,662,740 4,440,614

The notes form part of these financial statements

LYE AND SONS LIMITED

Balance sheet statements

For the year ending 30 September 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 May 2019
and signed on behalf of the board by:

Name: M D Mosselson
Status: Director

The notes form part of these financial statements

LYE AND SONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Other accounting policies

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

LYE AND SONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

2. Tangible Assets

Total
Cost £
At 01 October 2017 1,122,236
Revaluations 1,355,323
At 30 September 2018 2,477,559
Depreciation
At 01 October 2017 27,091
Charge for year 70
At 30 September 2018 27,161
Net book value
At 30 September 2018 2,450,398
At 30 September 2017 1,095,145

LYE AND SONS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

3. Fixed investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.