LEXEFISCAL LLP - Filleted accounts

Registered number

OC400314

LEXEFISCAL LLP

Filleted Accounts

31 March 2025

LEXEFISCAL LLP
Registered number:		OC400314
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Intangible assets	3	1,850,000		1,850,000
Tangible assets	4	4,867		5,445
Investments	5	33,481		453,481
		1,888,348		2,308,926
Current assets
Investments held as current assets	6	16,445		16,445
Cash at bank and in hand		467,514		108,308
		483,959		124,753

Creditors: amounts falling due within one year	7	13,435		(154,306)

Net current assets/(liabilities)		497,394		(29,553)

Total assets less current liabilities		2,385,742		2,279,373

Creditors: amounts falling due after more than one year	8	(47,392)		(80,464)


Net assets attributable to members		2,338,350		2,198,909

Represented by:
Loans and other debts due to members	9	310,626		310,626

Members' other interests
Members' capital classified as equity		1,944,090		1,966,760
Revaluation reserve		-		-
Other reserves		83,634		(78,477)
		2,027,724		1,888,283

		2,338,350		2,198,909

Total members' interests
Loans and other debts due to members	9	310,626		310,626
		310,626		310,626
Members' other interests		2,027,724		1,888,283

		2,338,350		2,198,909

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 30 December 2025 and signed on their behalf by:


Dr C J Frank
Designated member

LEXEFISCAL LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the LLP					4		2


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							1,850,000
	Additions							-
	Disposals							-
	At 31 March 2025							1,850,000

	Amortisation
	At 1 April 2024							-
	Provided during the year							-
	On disposals							-
	At 31 March 2025							-

	Net book value
	At 31 March 2025							1,850,000
	At 31 March 2024							1,850,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Computer Equipment		Total
£			£		£		£
	Cost
	At 1 April 2024	-		16,664		-		16,664
	Additions	-		-		1,010		1,010
	Revaluation	-						-
	Disposals	-		-		-		-
	At 31 March 2025	-		16,664		1,010		17,674

	Depreciation
	At 1 April 2024	-		11,219		-		11,219
	Charge for the year	-		1,361		227		1,588
	Revaluation	-						-
	On disposals	-		-		-		-
	At 31 March 2025	-		12,580		227		12,807

	Net book value
	At 31 March 2025	-		4,084		783		4,867
	At 31 March 2024	-		5,445		-		5,445




5	Fixed asset investments
Investments in
subsidiary					Other
undertakings					investments		Total
£					£		£
	Cost
	At 1 April 2024			-		453,481		453,481
	Additions			-		-		-
	Revaluation			-		(420,000)		(420,000)
	Disposals			-		-		-

	At 31 March 2025			-		33,481		33,481

	Historical cost
	At 1 April 2024			-		-
	At 31 March 2025			-		-

	[For revalued investments, see FRS 102 paragraphs 1AC.15, 1AC.22 and 1AC.23 for disclosures]

6	Investments held as current assets					2025		2024
£							£
	Fair value
	Listed investments					-		-
	Unlisted investments					16,445		16,445
						16,445		16,445

7	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					37,815		18,017
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					2,302		28,390
	Amounts owed to group undertakings and undertakings in which the LLP has a participating interest					-		-
	Other taxes and social security costs					9,448		15,212
	Other creditors					(63,000)		92,687
						(13,435)		154,306


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					47,392		80,464
	Obligations under finance lease and hire purchase contracts					-		-
						47,392		80,464

9	Loans and other debts due to members					2025		2024
£							£

	Amounts due to members in respect of profits					310,626		310,626
						310,626		310,626

	Amounts falling due within one year					310,626		310,626
	Amounts falling due after more than one year					-		-
						310,626		310,626

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.



10	Other information

	LEXEFISCAL LLP is a limited liability partnership incorporated in England and Wales. Its registered office is:
	Suite 428b, 4th Floor
	33 Cavendish Square
	London
	England
	W1G 0PW