Lynch Ayerst Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08703916 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2021

FOR

LYNCH AYERST CONSULTING LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

2,701

2,804

CURRENT ASSETS

Debtors

6

43,412

23,097

Cash at bank

55,916

70,952

99,328

94,049

CREDITORS

Amounts falling due within one year

7

57,440

53,942

NET CURRENT ASSETS

41,888

40,107

TOTAL ASSETS LESS CURRENT LIABILITIES

44,589

42,911

CREDITORS

Amounts falling due after more than one year

8

(33,543

)

(42,000

)

PROVISIONS FOR LIABILITIES

9

(358

)

(344

)

NET ASSETS

10,688

567

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

10,588

467

SHAREHOLDERS' FUNDS

10,688

567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2022 and were signed on its behalf by:

Mr. T Ayerst - Director

Dr. P A Lynch - Director

1.	STATUTORY INFORMATION

Lynch Ayerst Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08703916

Registered office:

48 St Leonards Road

Bexhill on Sea

East Sussex

TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company has prepared these accounts on a going concern basis, although there are material uncertainties in respect of COVID-19. The management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in the future.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced in the year, exclusive of Value Added Tax, together with amounts accrued but un-billed at the balance sheet date.

Tangible fixed assets

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

Equip -ment

-

25% on cost

All fixed assets are initially recorded at cost.

Government grants

The entity has adopted the use of the accruals model in respect of grants received.

Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in 'Other income', in the period to which it relates.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Equip

-ment

£

COST

At 1 October 2020

11,924

Additions

1,726

At 30 September 2021

13,650

DEPRECIATION

At 1 October 2020

9,120

Charge for year

1,829

At 30 September 2021

10,949

NET BOOK VALUE

At 30 September 2021

2,701

At 30 September 2020

2,804

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

10,799

-

Directors' current accounts

13,862

21,510

Prepayments and accrued income

18,751

1,587

43,412

23,097

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,629

3,000

Trade creditors

-

60

Corporation tax

26,284

37,061

PAYE and social security

345

345

VAT

13,308

8,250

Other creditors

3,830

1,054

Accruals and deferred income

5,044

4,172

57,440

53,942

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

8,847

9,000

Bank loans - 2-5 years

24,696

27,000

Bank loans over 5 years

-

6,000

33,543

42,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

-

6,000

9.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

Accelerated capital allowances

358

344

Deferred

tax

£

Balance at 1 October 2020

344

Provided during year

14

Balance at 30 September 2021

358

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

60

Ordinary A

£1

60

60

20

Ordinary B

£1

20

20

10

Ordinary C

£1

10

10

10

Ordinary D

£1

10

10

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2021 and 30 September 2020:

2021

2020

£

£

Mr. T Ayerst and Dr. P A Lynch

Balance outstanding at start of year

21,510

-

Amounts advanced

13,862

21,510

Amounts repaid

(21,510

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,862

21,510

Advances to directors are repayable on demand and interest was charged at 2.25% per annum to March 2021 and 2% thereafter on balances exceeding £10,000 per director. The interest charged for the year amounted to £469 (2020: £263).