Xlent Marketing & Procurement Ltd 7032552 false 2021-10-01 2022-09-30 2022-09-30 The principal activity of the company is food wholesale and consultancy Digita Accounts Production Advanced 6.30.9574.0 true true 7032552 2021-10-01 2022-09-30 7032552 2022-09-30 7032552 bus:Director1 1 2022-09-30 7032552 bus:Director2 1 2022-09-30 7032552 bus:OrdinaryShareClass1 2022-09-30 7032552 core:CurrentFinancialInstruments 2022-09-30 7032552 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 7032552 core:FurnitureFittingsToolsEquipment 2022-09-30 7032552 core:MotorVehicles 2022-09-30 7032552 bus:SmallEntities 2021-10-01 2022-09-30 7032552 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 7032552 bus:FullAccounts 2021-10-01 2022-09-30 7032552 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 7032552 bus:RegisteredOffice 2021-10-01 2022-09-30 7032552 bus:Director1 2021-10-01 2022-09-30 7032552 bus:Director1 1 2021-10-01 2022-09-30 7032552 bus:Director2 2021-10-01 2022-09-30 7032552 bus:Director2 1 2021-10-01 2022-09-30 7032552 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 7032552 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 7032552 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 7032552 core:MotorVehicles 2021-10-01 2022-09-30 7032552 core:OfficeEquipment 2021-10-01 2022-09-30 7032552 countries:EnglandWales 2021-10-01 2022-09-30 7032552 2021-09-30 7032552 bus:Director1 1 2021-09-30 7032552 bus:Director2 1 2021-09-30 7032552 core:FurnitureFittingsToolsEquipment 2021-09-30 7032552 core:MotorVehicles 2021-09-30 7032552 2020-10-01 2021-09-30 7032552 2021-09-30 7032552 bus:Director1 1 2021-09-30 7032552 bus:Director2 1 2021-09-30 7032552 bus:OrdinaryShareClass1 2021-09-30 7032552 core:CurrentFinancialInstruments 2021-09-30 7032552 core:CurrentFinancialInstruments core:WithinOneYear 2021-09-30 7032552 core:FurnitureFittingsToolsEquipment 2021-09-30 7032552 core:MotorVehicles 2021-09-30 7032552 bus:Director1 1 2020-10-01 2021-09-30 7032552 bus:Director2 1 2020-10-01 2021-09-30 7032552 bus:Director1 1 2020-09-30 7032552 bus:Director2 1 2020-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 7032552

Xlent Marketing & Procurement Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2022

 

Xlent Marketing & Procurement Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Xlent Marketing & Procurement Ltd

Company Information

Directors

Mr Christopher Bearne

Mr David Bearne

Registered office

33 Redburn Road
Paignton
Devon
TQ3 2JZ

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Xlent Marketing & Procurement Ltd

(Registration number: 7032552)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

623

832

Current assets

 

Debtors

5

300,066

282,985

Cash at bank and in hand

 

137

137

 

300,203

283,122

Creditors: Amounts falling due within one year

6

(298,088)

(283,542)

Net current assets/(liabilities)

 

2,115

(420)

Total assets less current liabilities

 

2,738

412

Provisions for liabilities

(355)

(355)

Net assets

 

2,383

57

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

2,381

55

Shareholders' funds

 

2,383

57

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
Mr David Bearne
Director

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
33 Redburn Road
Paignton
Devon
TQ3 2JZ

These financial statements were authorised for issue by the Board on 29 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Office equipment

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2021

7,475

19,921

27,396

At 30 September 2022

7,475

19,921

27,396

Depreciation

At 1 October 2021

7,234

19,330

26,564

Charge for the year

61

148

209

At 30 September 2022

7,295

19,478

26,773

Carrying amount

At 30 September 2022

180

443

623

At 30 September 2021

241

591

832

5

Debtors

Current

2022
£

2021
£

Other debtors

300,066

282,985

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

7,118

6,980

Taxation and social security

28,085

23,070

Accruals and deferred income

250

(225)

Other creditors

262,635

253,717

298,088

283,542

7

Share capital

Allotted, called up and fully paid shares

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £Nil (2021 - £4,000.00) per ordinary share

 

-

 

8,000

         

9

Related party transactions

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Transactions with directors

2022

At 1 October 2021
£

Repayments by director
£

At 30 September 2022
£

Mr David Bearne

Director loan

9,140

(13,906)

(4,766)

       
     

Mr Christopher Bearne

Director loan

9,779

(13,936)

(4,157)

       
     

 

2021

At 1 October 2020
£

Advances to director
£

Repayments by director
£

At 30 September 2021
£

Mr David Bearne

Director loan

(50)

28,000

(18,810)

9,140

         
       

Mr Christopher Bearne

Director loan

552

28,000

(18,773)

9,779

         
       

 

 

Xlent Marketing & Procurement Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

22,170

10,553

Dividends paid to directors

   

2022
£

 

2021
£

Mr David Bearne

       

Interim dividend

 

-

 

4,000

         

Mr Christopher Bearne

       

Interim dividend

 

-

 

4,000