| LexiQA Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of LexiQA Limited for the year ended 28 February 2026 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LexiQA Limited for the year ended 28 February 2026 which comprise of the Profit and Loss Account, the Balance Sheet, the 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/ members/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of LexiQA Limited, as a body, in accordance with the terms of our engagement letter dated 2 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of LexiQA Limited and state those matters that we have agreed to state to the Board of Directors of LexiQA Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LexiQA Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that LexiQA Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LexiQA Limited. You consider that LexiQA 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 accounts of LexiQA 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 accounts. |
|
| Keith Graham |
| Chartered Accountants |
| Suite 2 Wesley Chambers |
| Queens Road |
| Aldershot |
| Hampshire |
| GU11 3JD |
|
| 15 June 2026 |
|
| LexiQA Limited |
| Notes to the Accounts |
| for the year ended 28 February 2026 |
|
|
| 1 |
Accounting policies |
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|
Basis of preparation |
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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). |
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|
Turnover |
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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 IT software and from the rendering of services. Turnover from the sale of goods is recognised when the software is 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. |
|
|
Tangible fixed assets |
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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: |
|
|
Computer equipment |
25% straight line |
|
|
Debtors |
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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. |
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|
Creditors |
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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. |
|
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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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. |
|
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Foreign currency translation |
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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. |
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computer equipment |
| £ |
|
Cost |
|
At 1 March 2025 |
9,278 |
|
Additions |
3,853 |
|
At 28 February 2026 |
13,131 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2025 |
7,908 |
|
Charge for the year |
1,535 |
|
At 28 February 2026 |
9,443 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2026 |
3,688 |
|
At 28 February 2025 |
1,370 |
|
|
| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Other debtors |
19,822 |
|
22,522 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Taxation and social security costs |
2,308 |
|
1,758 |
|
Other creditors |
8,390 |
|
7,845 |
|
|
|
|
|
|
10,698 |
|
9,603 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr V Korkas |
|
Director's current account |
3,869 |
|
1,491 |
|
- |
|
5,360 |
|
|
|
3,869 |
|
1,491 |
|
- |
|
5,360 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
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|
LexiQA Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Suite 2, Wesley Chambers |
|
Queens Road |
|
Aldershot |
|
Hampshire |
|
GU11 3JD |
|
|
The functional currency for these accounts is sterling. |