Lexsynergy Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Lexsynergy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05992211 . The registered office is 925 Finchley Road, London, NW11 7PE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Trademarks. It is amortised to income statement over its estimated economic life of 10 years.

Trade Marks Straight Line Method

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	33% on reducing balance
Computer Equipment	33% on reducing balance

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Lexsynergy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Investments in Associated Companies

Investments in associates are recorded at cost less any impairment. The company does not apply the equity method under FRS 102 Section 14 due to size and complexity considerations. Investments are reviewed for impairment annually.'

3. Average Number of Employees

Average number of employees, including directors, during the year was: 23 (2024: 16)

4. Intangible Assets

	Other
	£
Cost
As at 1 December 2024	9,254

As at 30 November 2025	9,254

Amortisation
As at 1 December 2024	8,098
Provided during the period	128

As at 30 November 2025	8,226

Net Book Value
As at 30 November 2025	1,028

As at 1 December 2024	1,156

Trademarks

The above recorded intangible assets are Trademarks.

Software Development Costs

The company is in the process of developing bespoke internal-use software. Although certain expenditure qualifies for R&D tax credits, the directors have assessed the project against the capitalisation criteria outlined in FRS 102 Section 18.8.

As of the reporting date, the company has not yet met the recognition threshold of a demonstrable intention to complete the development for use in the business. Until this intention can be clearly evidenced—along with sufficient certainty over technical feasibility and future economic benefit—the associated costs will continue to be expensed as incurred.

The directors consider the project to be of potential strategic importance and will reassess capitalisation in future periods as development progresses and the intention to complete is confirmed.

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Lexsynergy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 December 2024	31,068	43,712	74,780
Additions	3,910	18,153	22,063
Disposals	(11,987 )	(14,166 )	(26,153 )

As at 30 November 2025	22,991	47,699	70,690

Depreciation
As at 1 December 2024	21,460	26,808	48,268
Provided during the period	3,586	7,930	11,516
Disposals	(11,359 )	(11,290 )	(22,649 )

As at 30 November 2025	13,687	23,448	37,135

Net Book Value
As at 30 November 2025	9,304	24,251	33,555

As at 1 December 2024	9,608	16,904	26,512

6. Investments

	Associates	Unlisted	Total
	£	£	£
Cost or Valuation
As at 1 December 2024	11,894	-	11,894
Other	-	1,296	1,296

As at 30 November 2025	11,894	1,296	13,190

Provision
As at 1 December 2024	-	-	-

As at 30 November 2025	-	-	-

Net Book Value
As at 30 November 2025	11,894	1,296	13,190

As at 1 December 2024	11,894	-	11,894

Investments in Associates

Lexsynergy Limited holds a 49% shareholding in Lexreg (Pty) Limited, a company incorporated in South Africa.

In accordance with FRS 102 Section 14, the investment is measured at cost less any provision for impairment, as the company has chosen not to apply the equity method.

The associate Lexreg (Pty) Limited facilitates payments for south african clients and support relating there too. At the reporting date, the directors have reviewed the carrying value of the investment and confirm that there is no indication of impairment.'

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Lexsynergy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	545,229	670,110
Other debtors	65,814	69,008

	611,043	739,118

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	(6,739 )	144,325
Corporation tax	-	15,477
Other taxes and social security	37,850	31,855
VAT	27,100	27,465
Other creditors	51,662	11,613
Accruals and deferred income	84,866	104,042

	194,739	334,777

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,028		1,156
Tangible Assets	5		33,555		26,512
Investments	6		13,190		11,894

			47,773		39,562
CURRENT ASSETS
Debtors	7	611,043		739,118
Cash at bank and in hand		402,908		341,936

		1,013,951		1,081,054
Creditors: Amounts Falling Due Within One Year	8	(194,739 )		(334,777 )

NET CURRENT ASSETS (LIABILITIES)			819,212		746,277

TOTAL ASSETS LESS CURRENT LIABILITIES			866,985		785,839

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,684 )		(1,778 )

NET ASSETS			859,301		784,061

CAPITAL AND RESERVES
Called up share capital	9		100		100
Income Statement			859,201		783,961

SHAREHOLDERS' FUNDS			859,301		784,061