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REGISTERED NUMBER: 01202649 (England and Wales)














Lexitron Limited

Audited Financial Statements

for the Year Ended 31 December 2023






Lexitron Limited (Registered number: 01202649)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3


Lexitron Limited

Company Information
for the Year Ended 31 December 2023







Directors: M A Smith
S J Smith





Registered office: James Hall
Parsons Green
St. Ives
Cambs
PE27 4AA





Registered number: 01202649 (England and Wales)





Auditors: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Lexitron Limited (Registered number: 01202649)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 13,736,333 13,642,402

Current assets
Debtors 6 2,478,594 1,860,295
Cash at bank 5,051,278 4,671,679
7,529,872 6,531,974
Creditors
Amounts falling due within one year 7 6,981,055 5,621,746
Net current assets 548,817 910,228
Total assets less current liabilities 14,285,150 14,552,630

Creditors
Amounts falling due after more than one
year

8

(31,298

)

(31,298

)

Provisions for liabilities (800,219 ) (796,696 )
Net assets 13,453,633 13,724,636

Capital and reserves
Called up share capital 250,000 250,000
Non-distributable reserves (3,134,740 ) (2,729,005 )
Retained earnings 16,338,373 16,203,641
Shareholders' funds 13,453,633 13,724,636

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 19 September 2024 and were signed on its behalf by:





M A Smith - Director


Lexitron Limited (Registered number: 01202649)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

Lexitron 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.

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost
convention, modified to include certain items at fair value.

Turnover
Revenue is measured at the fair value of the consideration received for net invoiced rent and other services, excluding value added tax. Revenue is recognised as it accrues.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property-Not depreciated
Motor vehicles-5 years straight line

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

Where the contractual obligations of financial instruments (including share capital) are equivalent
to a similar debt instrument, those financial instruments are classed as financial liabilities.
Financial liabilities are presented as such in the balance sheet. Finance costs and gains or
losses relating to financial liabilities are included in the profit and loss account. Finance costs are
calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a
financial liability then this is classed as an equity instrument. Dividends and distributions relating
to equity instruments are debited direct to equity.

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 statement of financial position date.


Lexitron Limited (Registered number: 01202649)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Flocklynn Group Limited which can be obtained from Registrar of Companies, Companies House, Cardiff, CF14 4UZ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) Disclosures in respect of share-based payments have not been presented.
(e) No disclosure has been given for the aggregate remuneration of key management personnel.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Turnover
Revenue is measured at the fair value of the consideration received for net invoiced rent and other services, excluding value added tax. Revenue is recognised as it accrues.

4. Employees and directors

The average number of employees during the year was 4 (2022 - 3 ) .

Lexitron Limited (Registered number: 01202649)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. Tangible fixed assets
Assets
Investment under Motor
properties construction vehicles Totals
£    £    £    £   
Cost
At 1 January 2023 13,642,402 - 49,288 13,691,690
Additions 603,978 34,030 - 638,008
Revaluations (544,077 ) - - (544,077 )
At 31 December 2023 13,702,303 34,030 49,288 13,785,621
Depreciation
At 1 January 2023
and 31 December 2023 - - 49,288 49,288
Net book value
At 31 December 2023 13,702,303 34,030 - 13,736,333
At 31 December 2022 13,642,402 - - 13,642,402

Revaluations were carried out in 2021 by Eddisons, 150 High Street, Huntingdon, Cambridgeshire, PE29 3YH on various properties owned by the company. Eddisons are RICS registered valuers and the open market valuations were carried out at various points in 2021.

On an ongoing annual basis, the directors have updated the valuations by making reference to CBRE, commercial property and real estate UK property index.

Tangible assets held at valuation

If investment property had not been revalued it would have been included at a historical cost of
£17,009,413 (2022: 16,371,405).

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 683,189 301,875
Other debtors 3,780 -
Deferred tax asset 1,667,418 1,526,006
Prepayments and accrued income 124,207 32,414
2,478,594 1,860,295

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 71,583 84,808
Amounts owed to group undertakings 6,215,072 4,506,820
Corporation tax 187,701 463,745
Social security and other taxes 7,322 6,548
VAT 78,233 74,562
Directors' current accounts - 200,000
Accruals and deferred income 421,144 285,263
6,981,055 5,621,746

Lexitron Limited (Registered number: 01202649)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Preference shares 31,298 31,298

9. Secured debts

Svenska Handelsbanken Ab (Publ) hold various fixed and floating charges over company property.

10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Christopher Wright FCA CTA (Senior Statutory Auditor)
for and on behalf of Moore Thompson

11. Capital commitments
2023 2022
£    £   
Contracted but not provided for in the
financial statements 1,027,773 -

As at 31 December 2023 the company had entered into a construction contract amounting to £1,027,773.

12. Controlling party

The parent company is Flocklynn Limited which is registered in the UK. The registered address is James Hall, Parsons Green, St Ives, Cambridgeshire, United Kingdom, PE27 4AA