Lynvale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06006717 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

Lynvale Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

S Baxendale

Mrs J C E Baxendale

SECRETARY:

Mrs J C E Baxendale

REGISTERED OFFICE:

4A De Grey Square

De Grey Road

Colchester

Essex

CO4 5YQ

REGISTERED NUMBER:

06006717 (England and Wales)

ACCOUNTANTS:

RBS Accountancy Ltd

4A De Grey Square

De Grey Road

Colchester

Essex

CO4 5YQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

302,625

205,314

302,625

205,314

CURRENT ASSETS

Stocks

183,687

155,833

Debtors

6

281,429

234,946

Cash at bank and in hand

510,133

294,280

975,249

685,059

CREDITORS

Amounts falling due within one year

7

448,233

337,575

NET CURRENT ASSETS

527,016

347,484

TOTAL ASSETS LESS CURRENT LIABILITIES

829,641

552,798

PROVISIONS FOR LIABILITIES

28,730

9,847

NET ASSETS

800,911

542,951

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

800,711

542,751

SHAREHOLDERS' FUNDS

800,911

542,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 January 2021 and were signed on its behalf by:

S Baxendale - Director

Mrs J C E Baxendale - Director

1.	STATUTORY INFORMATION

Lynvale 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

13,397

AMORTISATION

At 1 December 2019

and 30 November 2020

13,397

NET BOOK VALUE

At 30 November 2020

-

At 30 November 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2019

599,695

10,284

27,701

637,680

Additions

71,674

79,497

-

151,171

At 30 November 2020

671,369

89,781

27,701

788,851

DEPRECIATION

At 1 December 2019

408,369

4,049

19,948

432,366

Charge for year

39,450

12,860

1,550

53,860

At 30 November 2020

447,819

16,909

21,498

486,226

NET BOOK VALUE

At 30 November 2020

223,550

72,872

6,203

302,625

At 30 November 2019

191,326

6,235

7,753

205,314

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade debtors

281,224

234,741

Other debtors

205

205

281,429

234,946

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Hire purchase contracts

-

5,981

Trade creditors

259,237

155,839

Taxation and social security

183,536

170,295

Other creditors

5,460

5,460

448,233

337,575

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.20

30.11.19

£

£

Hire purchase contracts

-

5,981

The Hire Purchase liabilities are secured against the assets for which they were created.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S Baxendale.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lynvale Limited for the year ended 30 November 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Lynvale Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lynvale Limited and state those matters that we have agreed to state to the Board of Directors of Lynvale Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lynvale Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lynvale Limited. You consider that Lynvale Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lynvale Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

RBS Accountancy Ltd

4A De Grey Square

De Grey Road

Colchester

Essex

CO4 5YQ

11 January 2021