| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| FOR |
| XUPER LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| FOR |
| XUPER LIMITED |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| XUPER LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| 10 Stadium Business Court |
| Millennium Way |
| Pride Park |
| Derby |
| DE24 8HP |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| STATEMENT OF FINANCIAL POSITION |
| 31 DECEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) |
| Net (liabilities)/assets | ( |
) |
| Capital and reserves |
| Called up share capital | 11 |
| Retained earnings | 12 | ( |
) |
| Shareholders' funds | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 DECEMBER 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| Xuper Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
| The financial statements are prepared in sterling, which is the functional currency of the entity. |
| Judgements and keysources of estimation uncertainty. |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Significant judgements |
| The judgements that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
| Intangible assets - software |
| Management have determined that when licencing, software and internal labour costs associated with the data configuration, set up, testing of software platforms and new business systems meet the following conditions; they are capitalised and amortised over the period of which the asset is expected to generate an economic benefit. i) When there is a clearly defined project ii) The expenditure is separately identifiable iii) The outcome of the software project is commercially viable and technically feasible iv) The software project is expected to generate future economic benefit. |
| Prepaid licencing and certification costs |
| Where the company is required to hold specific licencing and certification in order to meet full supplier status for its customer base, then those costs associated with obtaining the relevant licences and certificates are prepaid and released in the period in which the income is generated. |
| Revenue recognition |
| Where turnover is derived from a combination of goods and services provided to the customer management make due consideration in determining the split of income relating to goods and services provided. Goods provided are considered separable, and turnover separately recognised, from services provided where: i) the goods have a stand-alone value to the customer and ii) the fair value of the item can be reasonably calculated. |
| Turnover |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
| When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. The rendering of support contracts are recognised on a straight line basis over the terms of the contract. |
| Intangible assets |
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: |
| Patents, trademarks, licences and software - 25% straight line |
| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Equipment | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Investment in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents, |
| trademarks, |
| licences & |
| software |
| £ |
| Cost |
| At 1 January 2022 |
| and 31 December 2022 |
| Amortisation |
| At 1 January 2022 |
| Amortisation for year |
| At 31 December 2022 |
| Net book value |
| At 31 December 2022 |
| At 31 December 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2022 |
| Depreciation |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2022 |
| Net book value |
| At 31 December 2022 |
| At 31 December 2021 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| Cost |
| Additions |
| At 31 December 2022 |
| Net book value |
| At 31 December 2022 |
| The company owns 100% of the share capital of Xuper Inc Limited, Xuper Germany Limited and Xuper Pte Limited. All of which are held at cost. |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts recoverable |
| on contracts |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT |
| Other creditors |
| The bank loans are secured by virtue of an all asset charge including future contracted revenue. |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 2-5 years |
| Preference shares | 190,000 | 190,000 |
| Hire purchase contracts (see note 10) |
| The bank loans are secured by virtue of an all asset charge including future contracted revenue. |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| XUPER LIMITED (REGISTERED NUMBER: 01722490) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2022 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 20,010 | 20,010 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2022 |
| Deficit for the year | ( |
) |
| At 31 December 2022 | ( |
) |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 | December 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year: | 261,868 | 118,116 |
| Amounts advanced: | 123,226 | 143,752 |
| Amounts repaid: | 0 | 0 |
| Amounts transferred: | 0 | 0 |
| Balance outstanding at end of year: | 385,095 | 261,868 |
| The bank overdraft is also secured by a personal guarantee from a director. |
| The directors are considered to be the only key management personnel. |