If you use the Lyra as an AP, it is an "extension" of your router. You can then make all the settings that your router offers.
I have a FritzBox and then a network of 4 Lyra as AP in use. You turn off the wifi on the router and your network name comes from the settings of the Lyra (so 2.4 and 5 GHz with one name). You set the shares such as Mac filters, time restrictions for children, etc. on your router.
Works perfectly and without problems for me.