Lexington North Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06573928 (England and Wales)

LEXINGTON NORTH LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

P Boyfield

M A Craven

I Kennedy

SECRETARY:

I Kennedy

REGISTERED OFFICE:

c/o Leigh Saxton Green LLP

Mutual House

70 Conduit Street

London

W1S 2GF

REGISTERED NUMBER:

06573928 (England and Wales)

AUDITORS:

Sheppards

Chartered Accountants and Statutory Auditors

Suite A, 2nd Floor

Kennedy House

31 Stamford Street

Altrincham

Cheshire

WA14 1ES

FIXED ASSETS

Tangible assets

4

67,865

98,772

CURRENT ASSETS

Debtors

5

598,003

674,363

Cash at bank

585,207

542,990

1,183,210

1,217,353

CREDITORS

Amounts falling due within one year

6

338,617

334,809

NET CURRENT ASSETS

844,593

882,544

TOTAL ASSETS LESS CURRENT LIABILITIES

912,458

981,316

PROVISIONS FOR LIABILITIES

4,510

6,789

NET ASSETS

907,948

974,527

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

907,848

974,427

SHAREHOLDERS' FUNDS

907,948

974,527

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th April 2021 and were signed on its behalf by:

P Boyfield - Director

1.	STATUTORY INFORMATION

Lexington North Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2019 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st November 2019

156,490

Additions

1,841

At 31st October 2020

158,331

DEPRECIATION

At 1st November 2019

57,718

Charge for year

32,748

At 31st October 2020

90,466

NET BOOK VALUE

At 31st October 2020

67,865

At 31st October 2019

98,772

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

555,063

619,807

Other debtors

42,940

54,556

598,003

674,363

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

49,696

87,461

Taxation and social security

196,072

155,498

Other creditors

92,849

91,850

338,617

334,809

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Between one and five years

129,040

201,891

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Levine BA FCA (Senior Statutory Auditor)

for and on behalf of Sheppards

9.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.