| REGISTERED NUMBER: |
| Lexitron Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| Lexitron Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| Lexitron Limited (Registered number: 01202649) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company information | 1 |
| Chartered accountants' report | 2 |
| Statement of financial position | 3 |
| Notes to the financial statements | 5 |
| Lexitron Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| Directors: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| Monica House |
| St Augustines Road |
| Wisbech |
| Cambridgeshire |
| PE13 3AD |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Lexitron Limited |
| The following reproduces the text of the report prepared for the directors 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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 Lexitron Limited for the year ended 31 December 2024 which comprise the Income statement, Statement of financial position, 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 Board of Directors of Lexitron Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lexitron Limited and state those matters that we have agreed to state to the Board of Directors of Lexitron Limited, as a body, 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 Lexitron Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Lexitron 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 Lexitron Limited. You consider that Lexitron 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 Lexitron 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. |
| Monica House |
| St Augustines Road |
| Wisbech |
| Cambridgeshire |
| PE13 3AD |
| Lexitron Limited (Registered number: 01202649) |
| Statement of Financial Position |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Non-distributable reserves | ( |
) | ( |
) |
| Retained earnings |
| Shareholders' funds |
| 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. |
| Lexitron Limited (Registered number: 01202649) |
| Statement of Financial Position - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Lexitron Limited (Registered number: 01202649) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | Statutory information |
| Lexitron Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis under the historical cost |
| convention, modified to include certain items at fair value. |
| Turnover |
| Revenue is measured at the fair value of the consideration received for net invoiced rent and other services, excluding value added tax. Revenue is recognised as it accrues. |
| Tangible fixed assets |
| Investment property | - | Not depreciated |
| Motor vehicles | - | 5 years straight line |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the |
| contractual arrangements entered into. An equity instrument is any contract that evidences a |
| residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent |
| to a similar debt instrument, those financial instruments are classed as financial liabilities. |
| Financial liabilities are presented as such in the balance sheet. Finance costs and gains or |
| losses relating to financial liabilities are included in the profit and loss account. Finance costs are |
| calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a |
| financial liability then this is classed as an equity instrument. Dividends and distributions relating |
| to equity instruments are debited direct to equity. |
| Lexitron Limited (Registered number: 01202649) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | Accounting policies - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Investment property |
| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
| If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. |
| Turnover |
| Revenue is measured at the fair value of the consideration received for net invoiced rent and other services, excluding value added tax. Revenue is recognised as it accrues. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| Lexitron Limited (Registered number: 01202649) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | Tangible fixed assets |
| Assets |
| Investment | under | Motor |
| properties | construction | vehicles | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| Revaluations |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| and 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| Revaluations were carried out in 2021 by Eddisons, 150 High Street, Huntingdon, Cambridgeshire, PE29 3YH on various properties owned by the company. Eddisons are RICS registered valuers and the open market valuations were carried out at various points in 2021. |
| On an ongoing annual basis, the directors have updated the valuations by making reference to CBRE, commercial property and real estate UK property index. |
| Tangible assets held at valuation |
| If investment property had not been revalued it would have been included at a historical cost of |
| £22,824,034 (2023: 17,009,413). |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors | 43,937 | 3,780 |
| Deferred tax asset |
| Prepayments and accrued income |
| Lexitron Limited (Registered number: 01202649) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| VAT | 88,498 | 78,233 |
| Other creditors |
| Accruals and deferred income |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Preference shares | 31,298 | 31,298 |
| 9. | Secured debts |
| Svenska Handelsbanken Ab (Publ) hold various fixed and floating charges over company property. |
| 10. | Capital commitments |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| As at 31 December 2024 the company had entered into a construction contract amounting to £226,747 |
| 11. | Controlling party |
| The parent company is Flocklynn Limited which is registered in the UK. The registered address is James Hall, Parsons Green, St Ives, Cambridgeshire, United Kingdom, PE27 4AA |