Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseThe principal activity of the company during the year continued to be that of the provision of recruitment and consultancy services.22truefalse 05174018 2023-01-01 2023-12-31 05174018 2022-01-01 2022-12-31 05174018 2023-12-31 05174018 2022-12-31 05174018 c:Director1 2023-01-01 2023-12-31 05174018 c:Director2 2023-01-01 2023-12-31 05174018 d:FurnitureFittings 2023-01-01 2023-12-31 05174018 d:FurnitureFittings 2023-12-31 05174018 d:FurnitureFittings 2022-12-31 05174018 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05174018 d:ComputerEquipment 2023-01-01 2023-12-31 05174018 d:ComputerEquipment 2023-12-31 05174018 d:ComputerEquipment 2022-12-31 05174018 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05174018 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05174018 d:CurrentFinancialInstruments 2023-12-31 05174018 d:CurrentFinancialInstruments 2022-12-31 05174018 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05174018 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05174018 d:ShareCapital 2023-12-31 05174018 d:ShareCapital 2022-12-31 05174018 d:RetainedEarningsAccumulatedLosses 2023-12-31 05174018 d:RetainedEarningsAccumulatedLosses 2022-12-31 05174018 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05174018 c:OrdinaryShareClass1 2023-12-31 05174018 c:FRS102 2023-01-01 2023-12-31 05174018 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05174018 c:FullAccounts 2023-01-01 2023-12-31 05174018 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05174018 2 2023-01-01 2023-12-31 05174018 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05174018









LEXINGTON RESOURCES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LEXINGTON RESOURCES LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 6


 
LEXINGTON RESOURCES LIMITED
REGISTERED NUMBER: 05174018

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,702
1,394

Current assets
  

Debtors: amounts falling due within one year
 5 
1,318
210

Cash at bank and in hand
  
7,759
157

  
9,077
367

Creditors: amounts falling due within one year
 6 
(35,267)
(40,246)

Net current liabilities
  
 
 
(26,190)
 
 
(39,879)

Net liabilities
  
(24,488)
(38,485)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(24,588)
(38,585)

  
(24,488)
(38,485)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Aguado
J Aguado
Director
Director


Date: 11 August 2024


The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
LEXINGTON RESOURCES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Lexington Resources Limited is a private limited company, limited by shares, and registered in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4BH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is dependent upon continuing financial support being made available to it by one of its directors, to enable the company normal trading operations as a going concern and meet its liabilities as they fall due for payment. She has confirmed that she will continue to maintain her financial support of the company,  by deferment of the amounts due to her or by other means.
In view of the above confirmation the directors are confident that the company will have sufficient resources to enable it to continue in operation for the foreseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
LEXINGTON RESOURCES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the
Page 3

 
LEXINGTON RESOURCES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short term creditors are measured at the transaction price. 

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
LEXINGTON RESOURCES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Taxation

Tax is recognised in Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 January 2023
1,481
1,735
3,216


Additions
-
1,050
1,050


Disposals
(958)
(341)
(1,299)



At 31 December 2023

523
2,444
2,967



Depreciation


At 1 January 2023
1,219
602
1,821


Charge for the year on owned assets
132
611
743


Disposals
(958)
(341)
(1,299)



At 31 December 2023

393
872
1,265



Net book value



At 31 December 2023
130
1,572
1,702



At 31 December 2022
262
1,132
1,394

Page 5

 
LEXINGTON RESOURCES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,318
-

Other debtors
-
210

1,318
210



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,659
1,065

Other taxation and social security
1,242
-

Other creditors
31,132
38,305

Accruals and deferred income
1,234
876

35,267
40,246





7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1
100
100



8.


Related party transactions

At the balance sheet date the amounts due to related parties were as follows:


2023
2022
£
£

Directors
31,132
38,305


Page 6