Company Registration No. 06353268 (England and Wales)
Lexxic Limited
Unaudited accounts
for the year ended 31 March 2019
Lexxic Limited
Unaudited accounts
Contents
Lexxic Limited
Statement of financial position
as at 31 March 2019
Tangible assets
30,749
45,193
Cash at bank and in hand
115,384
133,696
Creditors: amounts falling due within one year
(171,109)
(198,008)
Net current assets
180,822
244,527
Total assets less current liabilities
211,571
289,720
Creditors: amounts falling due after more than one year
(546)
(47,508)
Net assets
211,025
242,212
Called up share capital
1
1
Profit and loss account
211,024
242,211
Shareholders' funds
211,025
242,212
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 1 March 2019.
N James
Director
Company Registration No. 06353268
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2019
Lexxic Limited is a private company, limited by shares, registered in England and Wales, registration number 06353268. The registered office is Unit CH 3.20, Kennington Park, 1 - 3 Brixton Road, London , SW9 6DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2019
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Tangible fixed assets
Plant & machinery
Charge for the year
32,372
Trade debtors
184,212
227,209
Accrued income and prepayments
25,359
-
Other debtors
26,976
81,630
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Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
-
24,524
Obligations under finance leases and hire purchase contracts
16,411
-
Trade creditors
37,622
6,252
Taxes and social security
107,014
140,473
Other creditors
10,062
26,759
The bank loans are secured by a fixed and floating charge.
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2019
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
546
30,356
The bank loans are secured by a fixed and floating charge.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest charged at an official rate
63,401
52,878
101,148
15,131
63,401
52,878
101,148
15,131
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Average number of employees
During the year the average number of employees was 10 (2018: 9).
