Lyndhurst Support Limited - Period Ending 2019-03-31

Lyndhurst Support Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2019

Registration number: 06942075

Lyndhurst Support Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Lyndhurst Support Limited

Company Information

Director

Mr P Dalzell

Registered office

Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Torquay Devon TQ2 7FF

Page 1

Lyndhurst Support Limited

Balance Sheet

31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	430	1,019
Current assets
Debtors	5	4,322	6,550
Cash at bank and in hand		160	571
		4,482	7,121
Creditors: Amounts falling due within one year	6	(48,376)	(46,754)
Net current liabilities		(43,894)	(39,633)
Total assets less current liabilities		(43,464)	(38,614)
Creditors: Amounts falling due after more than one year	6	(13,767)	(18,040)
Net liabilities		(57,231)	(56,654)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(57,331)	(56,754)
Total equity		(57,231)	(56,654)

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Lyndhurst Support Limited

Balance Sheet

31 March 2019

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 10 June 2019
 

......................................... Mr P Dalzell Director

Company Registration Number: 06942075

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Lyndhurst Support Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1	General information

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

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

The principal place of business is:
39 St Matthews Road
Torquay
Devon
TQ2 6JA

These financial statements were authorised for issue by the director on 10 June 2019.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' , including Section 1A and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These 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.

Going concern

The financial statements have been prepared on a going concern basis. At the balance sheet date the company has net current liabilities of £44,644 (2018: £39,633). The company is dependent on the support of it's director who has confirmed this will continue for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services under contracts with customers to the extent that there is a right to consideration.

The company recognises revenue when the value of services provided to date can be reliably measured.

Page 4

Lyndhurst Support Limited

Notes to the Financial Statements

Year Ended 31 March 2019

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% straight line
Equipment	25% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

Page 5

Lyndhurst Support Limited

Notes to the Financial Statements

Year Ended 31 March 2019

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2018 - 8).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2018	8,252	2,900	11,152
At 31 March 2019	8,252	2,900	11,152
Depreciation
At 1 April 2018	7,233	2,900	10,133
Charge for the year	589	-	589
At 31 March 2019	7,822	2,900	10,722
Carrying amount
At 31 March 2019	430	-	430
At 31 March 2018	1,019	-	1,019

5

Debtors

	2019  £	2018  £
Trade debtors	3,997	6,500
Other debtors	325	50
	4,322	6,550

Page 6

Lyndhurst Support Limited

Notes to the Financial Statements

Year Ended 31 March 2019

6

Creditors

Creditors: amounts falling due within one year

	Note	2019  £	2018  £
Due within one year
Loans and borrowings	7	4,273	4,127
Social security and other taxes		116	236
Other creditors		40,715	37,187
Accrued expenses		3,272	5,204
		48,376	46,754

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings	7	13,767	18,040

7	Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Bank borrowings	4,273	4,127

	2019 £	2018 £
Loans and borrowings due after one year
Bank borrowings	13,767	18,040

Security is given for bank loans by a charge held over the company's assets.

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Page 7