Company Registration No. 06353268 (England and Wales)
Lexxic Limited
Unaudited accounts
for the year ended 31 March 2021
Lexxic Limited
Unaudited accounts
Contents
Lexxic Limited
Statement of financial position
as at 31 March 2021
Tangible assets
12,372
11,523
Cash at bank and in hand
280,210
290,345
Creditors: amounts falling due within one year
(409,676)
(382,807)
Net current assets
366,919
310,489
Net assets
379,291
322,012
Called up share capital
1
1
Profit and loss account
379,290
322,011
Shareholders' funds
379,291
322,012
For the year ending 31 March 2021 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2021 and were signed on its behalf by
N James
Director
Company Registration No. 06353268
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2021
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.
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.
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Plant & machinery
Charge for the year
13,346
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
271,599
201,725
Accrued income and prepayments
195,446
170,357
Other debtors
29,340
30,869
6
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
-
655
Trade creditors
235,838
225,543
Taxes and social security
62,834
94,714
Other creditors
1,470
11,557
Loans from directors
10,737
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Current Account - interest charged at an official rate
29,315
100,025
100,000
29,340
29,315
100,025
100,000
29,340
8
Transactions with related parties
During the year total dividend paid to a director amounted to £100,000 (2020 : £95,000).
Lexxic Limited
Notes to the Accounts
for the year ended 31 March 2021
9
Average number of employees
During the year the average number of employees was 24 (2020: 19).
