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REGISTERED NUMBER: 05021629 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

LIXMERE PROPERTIES LIMITED

LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIXMERE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mrs S Shah
Mrs Anya Shah-Spellward





SECRETARY: Mrs Anya Shah-Spellward





REGISTERED OFFICE: 211 Kenton Road
Harrow
Middlesex
HA3 0HD





REGISTERED NUMBER: 05021629 (England and Wales)






LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 12,502
Tangible assets 5 313,608 324,610
Investments 6 194,781 207,436
Investment property 7 2,603,222 2,100,000
3,111,613 2,644,548

CURRENT ASSETS
Debtors 8 3,083,358 2,901,848
Cash at bank 779,683 1,230,591
3,863,041 4,132,439
CREDITORS
Amounts falling due within one year 9 3,080,776 3,006,508
NET CURRENT ASSETS 782,265 1,125,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,893,878

3,770,479

CREDITORS
Amounts falling due after more than one year 10 (300,000 ) (357,225 )

PROVISIONS FOR LIABILITIES (16,445 ) (12,500 )
NET ASSETS 3,577,433 3,400,754

CAPITAL AND RESERVES
Called up share capital 12 100 100
Share premium 14,902 14,902
Fair value reserve 579,620 579,620
Retained earnings 2,982,811 2,806,132
SHAREHOLDERS' FUNDS 3,577,433 3,400,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

BALANCE SHEET - continued
31ST MARCH 2024


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 28th August 2024 and were signed on its behalf by:




Mrs S Shah - Director



Mrs Anya Shah-Spellward - Director


LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Lixmere Properties Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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 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 1 (2023 - 2 ) .

LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 250,002
AMORTISATION
At 1st April 2023 237,500
Charge for year 12,500
At 31st March 2024 250,000
NET BOOK VALUE
At 31st March 2024 2
At 31st March 2023 12,502

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 438,216 85,084 523,300
Additions - 916 916
At 31st March 2024 438,216 86,000 524,216
DEPRECIATION
At 1st April 2023 128,460 70,230 198,690
Charge for year 8,764 3,154 11,918
At 31st March 2024 137,224 73,384 210,608
NET BOOK VALUE
At 31st March 2024 300,992 12,616 313,608
At 31st March 2023 309,756 14,854 324,610

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023 207,436
Disposals (12,655 )
At 31st March 2024 194,781
NET BOOK VALUE
At 31st March 2024 194,781
At 31st March 2023 207,436

There are fixed charges on one of the unlisted investments in favour of Oaknorth Bank plc. The fixed charges are on the distributions from and the interest in the unlisted investment.

LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,100,000
Additions 503,222
At 31st March 2024 2,603,222
NET BOOK VALUE
At 31st March 2024 2,603,222
At 31st March 2023 2,100,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2011 (214,181 )
Valuation in 2012 (35,000 )
Valuation in 2013 29,752
Valuation in 2015 30,000
Valuation in 2016 471,394
Valuation in 2017 (15,000 )
Valuation in 2018 170,000
Valuation in 2019 (40,000 )
Valuation in 2022 60,000
Valuation in 2023 (270,000 )
Cost 2,416,257
2,603,222

The investment properties were valued by the directors at their market values.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 142,550 160,868
Other debtors 2,940,808 2,740,980
3,083,358 2,901,848

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,078 4,465
Taxation and social security 75,027 49,563
Other creditors 3,002,671 2,952,480
3,080,776 3,006,508

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 300,000 357,225

LIXMERE PROPERTIES LIMITED (REGISTERED NUMBER: 05021629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other creditors 410,000 410,000

This loan is provided by a director and is secured against certain investment properties.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
Mrs Anya Shah-Spellward
Balance outstanding at start of year 16,429 (880 )
Amounts advanced 67,494 66,894
Amounts repaid (67,121 ) (49,585 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,802 16,429

The outstanding amount was settled after the year end.

14. RELATED PARTY DISCLOSURES

The company owed a net balance of £483,003 to the directors at the year-end (2023: £513,936).

During the year, Lixmere Properties Limited undertook the following transactions with another company with common shareholders and directors:

2024 2023
£    £   
Loan balance receivable 300,000 300,000
Interest received on related party loan 27,076 28,349
Overhead recharges paid to related party (55,000 ) (55,000 )
Amount due from/(to) related party at the balance sheet date 321,491 273,349

A director has provided a loan of £410,000 (2023:£410,000) plus interest to the company which is secured on certain investment properties.

15. ULTIMATE CONTROLLING PARTY

During the current and previous year, the company was controlled by the directors, who are also shareholders of the company.