| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| LEXIS LONDON LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| LEXIS LONDON LIMITED |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| 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 |
| Chartered Accountants' Report | 8 |
| LEXIS LONDON LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2nd Floor |
| 10(b) Aldermans Hill |
| Palmers Green |
| London |
| N13 4PJ |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2024 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Lexis London Limited is a private company,limited by shares, registered in England and Wales.The company 's registered number is 06377188 and registered office address is 69 Ballards Lane, Finchley Central, London N3 1XT. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of services. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Website costs |
| Website development costs are amortised over 5 years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The directors have considered the working capital position of the company and future working capital requirements, including any impact from the ongoing conflict in Ukraine and high interest rates in the UK and are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than one year from date of approval of these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| AMORTISATION |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 6. | DEBTORS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Amounts falling due within one year: |
| Directors' current accounts | 94,655 | 51,801 |
| Prepayments |
| Amounts falling due after more than one year: |
| Other Debtors - Rent Deposit |
| Aggregate amounts |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans | 21,844 | 19,071 |
| Trade creditors | ( |
) |
| Tax |
| Social security and other taxes |
| Net Wages | 5,797 | 6,476 |
| Pension a/c | 204 | 192 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loan - HSBC | 35,173 | 37,221 |
| Finance cost | (649 | ) | (1,299 | ) |
| Other loans | 82,839 | 63,975 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Within one year |
| 10. | DIRECTOR'S LOAN |
| Included in Debtors - amounts falling due within one year is a loan of £94,655 (2023: £51,801) due from the Directors. This loan is recognised at transaction price. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2023 | ( |
) |
| Profit for the year |
| At 30 September 2024 | ( |
) |
| LEXIS LONDON LIMITED (REGISTERED NUMBER: 06377188) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest on the director's loan account was charged at the official HM Revenue & Customs rates. |
| 14. | GOING CONCERN |
| The financial statements have been prepared on a going concern basis on the assumption that the directors will continue supporting the company. As at 30 September 2024, the company had Net Liabilities of £76,367 (2023: £82,247) |
| The Company is steadily recovering from major impacts on the English language teaching industry over the last few years; such as Covid-19, the exit from the European Union and high levels of inflation in the UK and globally. |
| The industry is now stabilising with evident growth in sales and marginal changes in fixed costs for the Company.The UK is leading the way in this recovery, with 2026 expected to demonstrate significant market share increases and revenue/ profit for the Company. |
| The Company is taking all the steps it can to capitalise on this industry growth and thus protect the future of the business, the director therefore believes that it is appropriate to prepare the accounts on a going concern basis. |
| In order for the Company to reach its expansion plans, working capital investment has also been sought for sales and marketing purposes. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| LEXIS LONDON LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lexis London Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Lexis London Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lexis London Limited and state those matters that we have agreed to state to the director of Lexis London Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lexis London Limited and its director for our work or for this report. |
| It is your duty to ensure that Lexis London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lexis London Limited. You consider that Lexis London Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Lexis London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 2nd Floor |
| 10(b) Aldermans Hill |
| Palmers Green |
| London |
| N13 4PJ |