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REGISTERED NUMBER: 14030685 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

6 APRIL 2022 TO 30 APRIL 2023

FOR

LEXANY PROPERTIES LTD

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 6 April 2022 to 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEXANY PROPERTIES LTD

COMPANY INFORMATION
for the Period 6 April 2022 to 30 April 2023







DIRECTORS: N D Jennings
Mrs J Jennings





REGISTERED OFFICE: 2 West Green
Riplingham Road
Westella
Hull
HU10 7TW





REGISTERED NUMBER: 14030685 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

BALANCE SHEET
30 April 2023

Notes £    £   
FIXED ASSETS
Investment property 4 990,907

CURRENT ASSETS
Cash at bank 11,619

CREDITORS
Amounts falling due within one year 5 534,717
NET CURRENT LIABILITIES (523,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,809

CREDITORS
Amounts falling due after more than one year 6 (447,000 )

PROVISIONS FOR LIABILITIES (3,953 )
NET ASSETS 16,856

CAPITAL AND RESERVES
Called up share capital 4
Revaluation reserve 8 20,250
Retained earnings (3,398 )
SHAREHOLDERS' FUNDS 16,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 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.

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

BALANCE SHEET - continued
30 April 2023


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 1 February 2024 and were signed on its behalf by:




N D Jennings - Director



Mrs J Jennings - Director


LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 6 April 2022 to 30 April 2023


1. STATUTORY INFORMATION

Lexany Properties Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at 2 West Green Riplingham Road, Westella, Hull, United Kingdom, HU10 7TW.

The principal activity of the company is letting owned properties.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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 period 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 period was 2 .

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 6 April 2022 to 30 April 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 965,907
Revaluations 25,000
At 30 April 2023 990,907
NET BOOK VALUE
At 30 April 2023 990,907

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 25,000
Cost 965,907
990,907

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 534,717

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 447,000

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 447,000

The bank loan amounting to £447,000 is not repayable within 5 years from December 2022. The loan carries interest of 2.95% above base and is secured on the Investment Property portfolio.

8. RESERVES
Revaluation
reserve
£   
Investment properties 20,250

At 30 April 2023 20,250

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 6 April 2022 to 30 April 2023


9. RELATED PARTY DISCLOSURES

Included within other creditors is a loan from the directors.

At the balance sheet date, the company owed the directors £533,216 (2022: nil).

The current account is repayable on demand and carries no rights to interest ,however the directors have confirmed that they will not seek repayment of this loan until there are sufficient available funds.

On this basis the directors have prepared the accounts on a going concern basis.

The company purchased during the year properties previously owned by the directors personally . The properties were purchased at full market value based on a professional third party valuation amounting to £745,000.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The company is controlled by thesame family.