Lynch Bain Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06177977 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Lynch Bain Consultancy Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

A Bain

REGISTERED OFFICE:

Unit 1

58 Low Friar Street

Newcastle

England

NE1 5UE

REGISTERED NUMBER:

06177977 (England and Wales)

ACCOUNTANTS:

My Accountant Friend

Suite 2

Ground Floor

70 Queensway

Hemel Hempstead

HP2 5HD

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Debtors

5

10,412

6,725

Cash at bank

4,272

11,079

14,684

17,804

CREDITORS

Amounts falling due within one year

6

14,683

21,039

NET CURRENT ASSETS/(LIABILITIES)

1

(3,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2

(3,234

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

-

(3,236

)

SHAREHOLDERS' FUNDS

2

(3,234

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 March 2020 and were signed by:

A Bain - Director

1.	STATUTORY INFORMATION

Lynch Bain Consultancy Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2018

and 30 June 2019

650

DEPRECIATION

At 1 July 2018

and 30 June 2019

649

NET BOOK VALUE

At 30 June 2019

1

At 30 June 2018

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

-

4,613

Other debtors

2,112

2,112

Directors' current accounts

8,300

-

10,412

6,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

(1

)

(1

)

Tax

8,187

13,547

Social security and other taxes

(1,267

)

(1,728

)

VAT

7,764

4,149

Directors' current accounts

-

5,072

14,683

21,039

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2019 and 30 June 2018:

30.6.19

30.6.18

£

£

A Bain

Balance outstanding at start of year

-

-

Amounts advanced

8,300

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,300

-

The loan to the director of £8,299.74 was repaid within 9 months and a day of the company year end.