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Registered number: 00616264
Lexden Engineering Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 00616264
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,231 2,479
2,231 2,479
CURRENT ASSETS
Stocks 5 1,537 1,878
Debtors 6 488 603
Cash at bank and in hand 20,589 19,928
22,614 22,409
Creditors: Amounts Falling Due Within One Year 7 (7,763 ) (6,871 )
NET CURRENT ASSETS (LIABILITIES) 14,851 15,538
TOTAL ASSETS LESS CURRENT LIABILITIES 17,082 18,017
Creditors: Amounts Falling Due After More Than One Year 8 (4,385 ) (4,385 )
NET ASSETS 12,697 13,632
CAPITAL AND RESERVES
Called up share capital 9 4,000 4,000
Profit and Loss Account 8,697 9,632
SHAREHOLDERS' FUNDS 12,697 13,632
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gordon Law
Director
19/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lexden Engineering Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00616264 . The registered office is 277 Crescent Drive, Petts Wood, Orpington, Kent, BR5 1AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Fixtures & Fittings 10% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 23,991 10,706 34,697
As at 31 December 2023 23,991 10,706 34,697
Depreciation
As at 1 January 2023 22,198 10,020 32,218
Provided during the period 179 69 248
As at 31 December 2023 22,377 10,089 32,466
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 1,614 617 2,231
As at 1 January 2023 1,793 686 2,479
5. Stocks
2023 2022
£ £
Stock 1,537 1,878
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 488 603
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 181 251
Corporation tax 18 -
Other taxes and social security 86 242
Other creditors 7,398 6,298
Accruals and deferred income 80 80
7,763 6,871
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 4,385 4,385
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4,000 4,000
10. Directors Advances, Credits and Guarantees
Dividends paid to director
2023 2022
£ £
Mr Gordon Law 1,000 2,000
Page 4