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REGISTERED NUMBER: 14030685 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LEXANY PROPERTIES LTD

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEXANY PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: N D Jennings
Mrs J Jennings





REGISTERED OFFICE: 2 West Green
West Ella
HU10 7TW





REGISTERED NUMBER: 14030685 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 990,907 990,907

CURRENT ASSETS
Cash at bank 4,333 11,619

CREDITORS
Amounts falling due within one year 5 717,489 534,717
NET CURRENT LIABILITIES (713,156 ) (523,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

277,751

467,809

CREDITORS
Amounts falling due after more than one year 6 (247,000 ) (447,000 )

PROVISIONS FOR LIABILITIES (4,750 ) (3,953 )
NET ASSETS 26,001 16,856

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 8 20,250 20,250
Retained earnings 5,747 (3,398 )
SHAREHOLDERS' FUNDS 26,001 16,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

BALANCE SHEET - continued
30 April 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 20 March 2025 and were signed on its behalf by:




N D Jennings - Director



Mrs J Jennings - Director


LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Lexany Properties Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at 2 West Green Riplingham Road, Westella, Hull, United Kingdom, HU10 7TW.

The principal activity of the company is letting owned properties.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Investment property
Investment property is included at fair value. Movement in fair value is recognised in the income statement. Deferred taxation is not provided on these gains at the rate expected to apply when the property is sold.

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.


LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 990,907
NET BOOK VALUE
At 30 April 2024 990,907
At 30 April 2023 990,907

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 25,000
Cost 965,907
990,907

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 110,000 -
Taxation and social security 1,348 -
Other creditors 606,141 534,717
717,489 534,717

LEXANY PROPERTIES LTD (REGISTERED NUMBER: 14030685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 247,000 447,000

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 247,000 447,000

The bank loan amounting to £247,000 is repayable December 2027. The loan carries interest of 2.95% above base and is secured by legal charges on the Investment Property portfolio.

8. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 20,250

9. RELATED PARTY DISCLOSURES

Included within other creditors is a loan to the company from N D Jennings Electrical Limited, a company controlled by the same shareholders. The balance outstanding at 30 April 2024 was £110,000 (2023 £Nil).

The loan was made on an interest free basis and is repayable on demand.

Included within other creditors is a loan from the directors.

At the balance sheet date, the company owed the directors £714,566 (2023: £533,216).

The current account is repayable on demand and carries no rights to interest, however the directors have confirmed that they will not seek repayment of this loan until there are sufficient available funds.

On this basis the directors have prepared the accounts on a going concern basis.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The company is controlled by the same family.