Lexington North Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06573928 (England and Wales)

LEXINGTON NORTH LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2017

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

5,862

5,081

CURRENT ASSETS

Debtors

5

561,770

532,040

Cash at bank

276,996

144,672

838,766

676,712

CREDITORS

Amounts falling due within one year

6

274,346

201,541

NET CURRENT ASSETS

564,420

475,171

TOTAL ASSETS LESS CURRENT LIABILITIES

570,282

480,252

PROVISIONS FOR LIABILITIES

1,172

1,016

NET ASSETS

569,110

479,236

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

569,010

479,136

SHAREHOLDERS' FUNDS

569,110

479,236

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27th June 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31st October 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1st November 2015.

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

-

33% on cost and 25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 14 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st November 2016

21,981

Additions

3,731

At 31st October 2017

25,712

DEPRECIATION

At 1st November 2016

16,900

Charge for year

2,950

At 31st October 2017

19,850

NET BOOK VALUE

At 31st October 2017

5,862

At 31st October 2016

5,081

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

526,361

481,802

Other debtors

35,409

50,238

561,770

532,040

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

57,286

38,161

Taxation and social security

161,077

132,387

Other creditors

55,983

30,993

274,346

201,541

7.	LEASING AGREEMENTS

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

2017

2016

£

£

Between one and five years

78,875

57,068

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.	APB 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.

10.	TRANSITIONAL ADJUSTMENT TO FRS102

The transition to FRS102 did not give rise to any adjustments.