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Registration number: 10728954

XFU Solutions Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2022 to 30 September 2023

 

XFU Solutions Limited

(Registration number: 10728954)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

3,939

Current assets

 

Debtors

5

138

18

Cash at bank and in hand

 

-

14,407

 

138

14,425

Creditors: Amounts falling due within one year

6

(2)

(5,215)

Net current assets

 

136

9,210

Total assets less current liabilities

 

136

13,149

Creditors: Amounts falling due after more than one year

6

-

(3,083)

Provisions for liabilities

-

(388)

Net assets

 

136

9,678

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

36

9,578

Shareholders' funds

 

136

9,678

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
Adrian Hayward-Wills
Director

 

XFU Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 September 2023

1

General information

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

The address of its registered office is:
5 Courtland Gardens
Shardlow Road
Alvaston
Derby
DE24 0LJ

These financial statements were authorised for issue by the director on 17 October 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.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

XFU Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 September 2023

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

20% reducing balance

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 2).

 

XFU Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

6,974

1,571

8,545

Disposals

(6,974)

(1,571)

(8,545)

At 30 September 2023

-

-

-

Depreciation

At 1 April 2022

4,039

566

4,605

Eliminated on disposal

(4,039)

(566)

(4,605)

At 30 September 2023

-

-

-

Carrying amount

At 30 September 2023

-

-

-

At 31 March 2022

2,934

1,005

3,939

5

debtors

Current

2023
£

2022
£

Other debtors

138

18

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

1,080

Taxation and social security

 

-

3,353

Accruals and deferred income

 

-

607

Other creditors

 

2

175

 

2

5,215

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

-

3,083

 

XFU Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 September 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

3,083

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

1,080

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100