Lexus Investments Ltd - Period Ending 2015-04-30

Registration number: 8980858

Lexus Investments Ltd

Unaudited Abbreviated Accounts

for the Period from 7 April 2014 to 30 April 2015

 

Lexus Investments Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lexus Investments Ltd
for the Period Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lexus Investments Ltd for the period ended 30 April 2015 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Lexus Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lexus Investments Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lexus Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lexus Investments Ltd 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 Lexus Investments Ltd. You consider that Lexus Investments Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Lexus Investments Ltd. 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.

......................................

A-spire Business Partners
Chartered Accountants
32 Byron Hill Road
Harrow on the Hill
Middlesex
HA2 0HY

6 January 2016

Page 1

Lexus Investments Ltd
(Registration number: 8980858)
Abbreviated Balance Sheet at 30 April 2015

		Note			30 April 2015 £
Fixed assets
Tangible fixed assets					568,214
Current assets
Cash at bank and in hand					777
Creditors: Amounts falling due within one year					(354,348)
Net current liabilities					(353,571)
Total assets less current liabilities					214,643
Creditors: Amounts falling due after more than one year					(223,880)
Net liabilities					(9,237)
Capital and reserves
Called up share capital		4			1
Profit and loss account					(9,238)
Shareholders' deficit					(9,237)

For the year ending 30 April 2015 the company was entitled to exemption 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 6 January 2016

.........................................
Mr Richard Lewis
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Lexus Investments Ltd
Notes to the Abbreviated Accounts for the Period from 7 April 2014 to 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	no depreciation

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: (i) No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. (ii) No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Lexus Investments Ltd
Notes to the Abbreviated Accounts for the Period from 7 April 2014 to 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		568,214			568,214
At 30 April 2015		568,214			568,214
Depreciation
At 30 April 2015		-			-
Net book value
At 30 April 2015		568,214			568,214

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		30 April 2015 £
After more than five years by instalments		112,836

4	Share capital

Allotted, called up and fully paid shares

	30 April 2015
		No.			£
Ordinary shares of £1 each		1			1

New shares allotted

During the period 1 Ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

Page 4