Company Registration No. 00773665 (England and Wales)
H.R.Lyne & Son Limited
Unaudited accounts
for the year ended 30 April 2019
H.R.Lyne & Son Limited
Unaudited accounts
Contents
H.R.Lyne & Son Limited
Company Information
for the year ended 30 April 2019
Directors
Raymond Lyne
Andrew Lyne
Company Number
00773665 (England and Wales)
Registered Office
CHY WARTHA KESTLE
MANACCAN
HELSTON
CORNWALL
TR12 6HU
UK
Accountants
Tanya Stratton
6 Malmesbury Close
Redland
Bristol
BS6 7TR
H.R.Lyne & Son Limited
Statement of financial position
as at 30 April 2019
Investment property
20,500
23,500
Cash at bank and in hand
97
61
Creditors: amounts falling due within one year
(27,122)
(18,060)
Net current assets
2,579
13,387
Total assets less current liabilities
23,661
38,340
Creditors: amounts falling due after more than one year
(383,449)
(380,146)
Net liabilities
(359,788)
(341,806)
Called up share capital
4
4
Profit and loss account
(359,792)
(341,810)
Shareholders' funds
(359,788)
(341,806)
For the year ending 30 April 2019 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 December 2019.
Andrew Lyne
Director
Company Registration No. 00773665
H.R.Lyne & Son Limited
Notes to the Accounts
for the year ended 30 April 2019
H.R.Lyne & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 00773665. The registered office is CHY WARTHA KESTLE, MANACCAN, HELSTON, CORNWALL, TR12 6HU, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
15% straight line
Motor vehicles
20% straight line
Investment property is the cattle production herd. Increases in the herd are valued at fair value and disposals are on a FIFO basis.
Unlisted investments are included at cost as the fair value cannot be measured reliably.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Livestock is valued at market value less 40%.
H.R.Lyne & Son Limited
Notes to the Accounts
for the year ended 30 April 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2018
71,475
48,532
28,163
148,170
At 30 April 2019
71,475
48,532
28,163
148,170
At 1 May 2018
71,474
47,523
28,160
147,157
Charge for the year
-
871
-
871
At 30 April 2019
71,474
48,394
28,160
148,028
At 30 April 2019
1
138
3
142
At 30 April 2018
1
1,009
3
1,013
Fair value at 1 May 2018
23,500
6
Investments
Other investments
Valuation at 1 May 2018
440
Valuation at 30 April 2019
440
Raw materials
27,095
29,684
H.R.Lyne & Son Limited
Notes to the Accounts
for the year ended 30 April 2019
9
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
14,806
8,317
Trade creditors
11,976
9,392
The directors have given security based on the company's assets including stock and production herd.
10
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
371,205
366,675
Aggregate of amounts that fall due for payment after five years
7,844
9,071
11
Transactions with related parties
The directors have loaned money to the company which is included in other creditors due after one year (2019 - £371,205, 2018 - £366,675). These loans are unsecured and interest free with no date for repayment. The directors have given the company an undertaking that they will not be repaid until other creditors have bee repaid in full.
12
Average number of employees
During the year the average number of employees was 1 (2018: 1).
