2022-11-012023-10-312023-10-31false09671486LEXON (G.B.) 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LEXON (G.B.) LIMITED

Registered Number
09671486
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

LEXON (G.B.) LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Edward Garth Davis
Dominic Paul Hartley
Philip John Morris

Registered Address

6/7 Rush Drive
Pen-Y-Fan Ind Estate
Crumlin
NP11 3AA

Registered Number

09671486 (England and Wales)
LEXON (G.B.) LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets41,995,4571,891,902
Investments59,1009,100
2,004,5571,901,002
Current assets
Stocks531,853472,327
Debtors1,399,3751,509,772
Cash at bank and on hand23,5666,969
1,954,7941,989,068
Creditors amounts falling due within one year6(2,288,751)(2,200,960)
Net current assets (liabilities)(333,957)(211,892)
Total assets less current liabilities1,670,6001,689,110
Creditors amounts falling due after one year(1,032,033)(959,454)
Provisions for liabilities(192,194)(92,332)
Net assets446,373637,324
Capital and reserves
Called up share capital104104
Share premium3,9963,996
Profit and loss account442,273633,224
Shareholders' funds446,373637,324
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
Edward Garth Davis
Director
Registered Company No. 09671486
LEXON (G.B.) LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year6263
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 222,606,050
Additions400,571
Disposals(8,700)
At 31 October 232,997,921
Depreciation and impairment
At 01 November 22714,148
Charge for year288,316
At 31 October 231,002,465
Net book value
At 31 October 231,995,457
At 31 October 221,891,902
5.Fixed asset investments

Total

£
Cost or valuation
At 01 November 229,100
At 31 October 239,100
Net book value
At 31 October 239,100
At 31 October 229,100
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables777,493654,833
Bank borrowings and overdrafts9,4885,602
Taxation and social security467,412490,923
Finance lease and HP contracts140,708249,987
Other creditors891,649797,616
Accrued liabilities and deferred income2,0011,999
Total2,288,7512,200,960
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts130,125270,833
Less than one year: £140,708
8.Other commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2022: 11,546 2023: 11,546
9.Related party transactions
Pughs Colourprint Ltd - balance due to related party as at 31/10/2023: £458,235 Xilix Property Ltd - balance due to related party as at 31/10/2023: £101,941 Balance due from other related parties as at 31/10/2023: £98,576