Lyons Watson Associates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09850821 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Lyons Watson Associates Ltd

Trading as

Lyons Watson Accountants

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTOR:

Mr N J Lyons

REGISTERED OFFICE:

Business Central

2 Union Square

Central Park

Darlington

Co. Durham

DL1 1GL

REGISTERED NUMBER:

09850821 (England and Wales)

ACCOUNTANTS:

Lyons Watson

Accountants & Business Advisers

Business Central

2 Union Square

Darlington

Co. Durham

DL1 1GL

FIXED ASSETS

Tangible assets

4

3,130

4,968

CURRENT ASSETS

Debtors

84,516

64,733

Cash at bank and in hand

264,831

182,264

349,347

246,997

CREDITORS

Amounts falling due within one year

127,396

88,885

NET CURRENT ASSETS

221,951

158,112

TOTAL ASSETS LESS CURRENT LIABILITIES

225,081

163,080

CREDITORS

Amounts falling due after more than one year

(21,750

)

(30,750

)

PROVISIONS FOR LIABILITIES

(595

)

(944

)

NET ASSETS

202,736

131,386

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

202,536

131,186

202,736

131,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 1 June 2023 and were signed by:

Mr N J Lyons - Director

1.	STATUTORY INFORMATION

Lyons Watson Associates Ltd 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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover

Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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 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.

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 7 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

21,097

Additions

2,206

Disposals

(6,983

)

At 31 December 2022

16,320

DEPRECIATION

At 1 January 2022

16,129

Charge for year

3,973

Eliminated on disposal

(6,912

)

At 31 December 2022

13,190

NET BOOK VALUE

At 31 December 2022

3,130

At 31 December 2021

4,968

The following reproduces the text of the report prepared for the director 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 Abridged Income Statement and certain other primary statements and the Report of the Director 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 Lyons Watson Associates Ltd for the year ended 31 December 2022 which comprise the Abridged Income Statement, Abridged 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 director of Lyons Watson Associates Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lyons Watson Associates Ltd and state those matters that we have agreed to state to the director of Lyons Watson Associates Ltd 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 director for our work or for this report.

It is your duty to ensure that Lyons Watson Associates Ltd 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 Lyons Watson Associates Ltd. You consider that Lyons Watson Associates Ltd 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 Lyons Watson Associates Ltd. 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.

Lyons Watson

Accountants & Business Advisers

Business Central

2 Union Square

Darlington

Co. Durham

DL1 1GL

1 June 2023