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REGISTERED NUMBER: 07335118 (England and Wales)
























Financial Statements

for the Year Ended 31 December 2022

for

XD Connects UK Ltd

Previously known as
Xindao (UK) Limited

XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


XD Connects UK Ltd
previously known as Xindao (UK) Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: A Van Der Veen
H K Van Der Laan





REGISTERED OFFICE: Suites 1.08 to 1.11
iCentrum
Holt Street
Birmingham
West Midlands
B7 4BP





REGISTERED NUMBER: 07335118 (England and Wales)





AUDITORS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 1,268 2,465

CURRENT ASSETS
Debtors 6 355,194 230,915
Cash at bank 81,730 39,445
436,924 270,360
CREDITORS
Amounts falling due within one year 7 172,885 77,471
NET CURRENT ASSETS 264,039 192,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,307

195,354

PROVISIONS FOR LIABILITIES 317 -
NET ASSETS 264,990 195,354

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 264,988 195,352
SHAREHOLDERS' FUNDS 264,990 195,354

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





H K Van Der Laan - Director


XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

XD Connects UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants received are recognised as income on an accruals basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 12 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 11,246 19,208 30,454
DEPRECIATION
At 1 January 2022 9,450 18,539 27,989
Charge for year 724 473 1,197
At 31 December 2022 10,174 19,012 29,186
NET BOOK VALUE
At 31 December 2022 1,072 196 1,268
At 31 December 2021 1,796 669 2,465

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed by group undertakings 332,957 205,299
Other debtors 12,346 13,479
Prepayments and accrued income 9,891 12,137
355,194 230,915

XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 12,975 17,831
Tax 18,219 11,142
Social security and other taxes 40,335 36,445
Other creditors 6,892 7,253
Accruals and deferred income 94,464 4,800
172,885 77,471

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 41,527 25,143
Between one and five years 31,143 36,901
72,670 62,044

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
2 Ordinary £1 2 2

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

The Report of the Auditors was unqualified.

Andrew James BCom FCA (Senior Statutory Auditor)
for and on behalf of James, Stanley & Co. Limited


James, Stanley & Co. Limited - Statutory auditors

11. RELATED PARTY DISCLOSURES

In the year under review, interest income of £22,267 (2021 - £12,326) was received from the parent company in connection with the inter company balance.

In the opinion of the directors related party transactions were conducted at normal commercial rates.

XD Connects UK Ltd (Registered number: 07335118)
previously known as Xindao (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is XD Connects B.V. whose registered office is at Postbox 3083, 2280GB Rijswijk, Holland.

The company's ultimate controlling party is Rivean Capital, a company based in the Netherlands.