Company Registration No. 2884942 (England and Wales)
Lexus International Limited
Unaudited accounts
for the year ended 31 December 2016
Lexus International Limited
Unaudited accounts
Contents
Lexus International Limited
Company Information
for the year ended 31 December 2016
Company Number
2884942 (England and Wales)
Registered Office
182-185 DUDLEY ROAD
WOLVERHAMPTON
WEST MIDLANDS
WV2 3DR
Accountants
TAXX LIMITED
257 Lichfield Road
Sutton Coldfield
West Midlands
B74 2XD
Lexus International Limited
Statement of financial position
as at 31 December 2016
Tangible assets
411,709
431,427
Inventories
174,110
128,190
Creditors: amounts falling due within one year
(446,669)
(439,134)
Net current liabilities
(263,958)
(304,113)
Net assets
147,751
127,314
Called up share capital
30,000
30,000
Profit and loss account
117,751
97,314
Shareholders' funds
147,751
127,314
For the year ending 31 December 2016 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 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 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 5 May 2017.
S S SOUTHI
Director
Company Registration No. 2884942
Lexus International Limited
Notes to the Accounts
for the year ended 31 December 2016
Lexus International Limited is a private company, limited by shares, registered in England and Wales, registration number 2884942. The registered office and principal place of business is 182-185 DUDLEY ROAD, WOLVERHAMPTON, WEST MIDLANDS, WV2 3DR.
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.
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
10% on the reducing balance
Motor vehicles
25% on the reducing balance
Lexus International Limited
Notes to the Accounts
for the year ended 31 December 2016
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2016
478,624
214,108
40,506
733,238
At 31 December 2016
478,624
214,108
40,506
733,238
At 1 January 2016
119,399
161,418
20,994
301,811
Charge for the year
9,571
5,269
4,878
19,718
At 31 December 2016
128,970
166,687
25,872
321,529
At 31 December 2016
349,654
47,421
14,634
411,709
At 31 December 2015
359,225
52,690
19,512
431,427
Finished goods
174,110
128,190
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Creditors: amounts falling due within one year
2016
2015
Bank loans and overdrafts
7,068
3,078
Obligations under finance leases and hire purchase contracts
16,998
21,283
Trade creditors
19,124
12,584
Other taxes and social security costs
3,378
649
Other creditors
237,422
278,761
Loans from directors
157,525
122,779
Allotted, called up and fully paid:
30,000 Ordinary shares of £1 each
30,000
30,000
Lexus International Limited
Notes to the Accounts
for the year ended 31 December 2016
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
122,779
34,746
-
157,525
10
Average number of employees
During the year the average number of employees was 3 (2015: 4).
