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REGISTERED NUMBER: 10156727 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

LX Properties Limited

LX Properties Limited (Registered number: 10156727)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LX Properties Limited

Company Information
for the Year Ended 30 September 2024







Directors: X F J Pennington
L S M Bates





Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB





Registered number: 10156727 (England and Wales)





Accountants: Wilson Sandford Limited
Chartered accountants
85 Church Road
Hove
East Sussex
BN3 2BB

LX Properties Limited (Registered number: 10156727)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible fixed assets 4 4,070 655
Investment property 5 150,000 137,500
154,070 138,155

Current assets
Debtors 6 81,200 22,859

Creditors: amounts falling due within
one year

7

246,901

232,684
Net current liabilities (165,701 ) (209,825 )
Total assets less current liabilities (11,631 ) (71,670 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings (11,731 ) (71,770 )
Shareholders' funds (11,631 ) (71,670 )

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

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

LX Properties Limited (Registered number: 10156727)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





X F J Pennington - Director


LX Properties Limited (Registered number: 10156727)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. Statutory information

LX 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.

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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 and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Property sales are recognised at the date of completion and are stated gross of any costs of disposal.

Rental income is recognised gross of commissions and fees.

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

Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

LX Properties Limited (Registered number: 10156727)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. Accounting policies - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. Employees and directors

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

LX Properties Limited (Registered number: 10156727)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 October 2023 1,198
Additions 4,270
At 30 September 2024 5,468
Depreciation
At 1 October 2023 543
Charge for year 855
At 30 September 2024 1,398
Net book value
At 30 September 2024 4,070
At 30 September 2023 655

5. Investment property
Total
£   
Fair value
At 1 October 2023 137,500
Revaluations 12,500
At 30 September 2024 150,000
Net book value
At 30 September 2024 150,000
At 30 September 2023 137,500

The investment property fair value of £137,500 (2022 - £137,500) was determined by the directors based on the market value of similar properties in the area.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 39,200 720
Amounts owed by group undertakings 42,000 22,139
81,200 22,859

LX Properties Limited (Registered number: 10156727)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 102,234 88,813
Trade creditors 974 1,366
Amounts owed to group undertakings 134,317 134,999
Taxation and social security 7,383 1,626
Other creditors 1,993 5,880
246,901 232,684

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 13,421 -
Bank loans 88,813 88,813
102,234 88,813

Bank loans are secured against the assets to which they relate.

9. Called up share capital

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

10. Related party disclosures

Within creditors are amounts owed to group undertakings less than 100% owned of £5,000 (2023 - £5,000).
Within debtors are amounts owed from group undertakings less than 100% owned of £11,206 (2023 - £10,411).