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REGISTERED NUMBER: 03162472 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LOXIT LIMITED

LOXIT LIMITED (REGISTERED NUMBER: 03162472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


LOXIT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M H Whittle
Mrs J F Whittle
A J Whittle
J A Whittle





SECRETARY: Mrs J F Whittle





REGISTERED OFFICE: First Avenue
Poynton Industrial Estate
Poynton
Cheshire
SK12 1YJ





REGISTERED NUMBER: 03162472 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

LOXIT LIMITED (REGISTERED NUMBER: 03162472)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 133,122 157,959
133,122 157,959

CURRENT ASSETS
Stocks 944,731 704,796
Debtors 6 208,668 271,926
Cash at bank and in hand 195,210 334,622
1,348,609 1,311,344
CREDITORS
Amounts falling due within one year 7 545,430 458,745
NET CURRENT ASSETS 803,179 852,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

936,301

1,010,558

CREDITORS
Amounts falling due after more than one
year

8

(100,000

)

(180,000

)

PROVISIONS FOR LIABILITIES 9 (31,564 ) (37,586 )
NET ASSETS 804,737 792,972

CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Retained earnings 799,737 787,972
SHAREHOLDERS' FUNDS 804,737 792,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

LOXIT LIMITED (REGISTERED NUMBER: 03162472)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:




M H Whittle - Director A J Whittle - Director




J A Whittle - Director


LOXIT LIMITED (REGISTERED NUMBER: 03162472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Loxit 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 20% on cost and 2% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


LOXIT LIMITED (REGISTERED NUMBER: 03162472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 36,855
AMORTISATION
At 1 January 2024
and 31 December 2024 36,855
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 411,421
Additions 6,565
At 31 December 2024 417,986
DEPRECIATION
At 1 January 2024 253,462
Charge for year 31,402
At 31 December 2024 284,864
NET BOOK VALUE
At 31 December 2024 133,122
At 31 December 2023 157,959

LOXIT LIMITED (REGISTERED NUMBER: 03162472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 187,171 243,048
Other debtors 21,497 28,878
208,668 271,926

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 80,000 80,000
Trade creditors 122,926 202,719
Amounts owed to group undertakings 163,186 63,647
Taxation and social security 81,361 74,144
Other creditors 97,957 38,235
545,430 458,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Bank loans 100,000 180,000

9. PROVISIONS FOR LIABILITIES
31/12/24 31/12/23
£    £   
Deferred tax 31,564 37,586

Deferred
tax
£   
Balance at 1 January 2024 37,586
Credit to Statement of Income and Retained Earnings during year (6,022 )
Balance at 31 December 2024 31,564

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31/12/24 31/12/23
value: £    £   
5,000 Ordinary £1 5,000 5,000

11. ULTIMATE CONTROLLING PARTY

The controlling party is Galene Holdings Limited.

This company is controlled by the directors.