Registered number
07168250
LEXUS VENTURES LIMITED
Filleted Accounts
31 May 2024
LEXUS VENTURES LIMITED
Registered number: 07168250
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 - 1,721
Cash at bank and in hand 828 8,977
828 10,698
Creditors: amounts falling due within one year 4 (590) (16,234)
Net current assets/(liabilities) 238 (5,536)
Net assets/(liabilities) 238 (5,536)
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account (19,762) (25,536)
Shareholder's funds 238 (5,536)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Narcisa Ciorba
Director
Approved by the board on 21 February 2025
LEXUS VENTURES LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Debtors 2024 2023
£ £
Trade debtors - 1,721
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 50
Other creditors 590 16,184
590 16,234
5 Other information
LEXUS VENTURES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Sinckot House
211 Station Road
Harrow
England
HA1 2TP
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