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REGISTERED NUMBER: 09627623 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

XAPSYS LIMITED

XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XAPSYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P J Cox
Mr NN Cox
Mr T L J Geraghty





REGISTERED OFFICE: 17 Boston Road
Gorse Hill Industrial Estate
Leicester
Leicestershire
LE4 1AW





REGISTERED NUMBER: 09627623 (England and Wales)

XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 70,606 49,436

CURRENT ASSETS
Debtors 5 52,661 88,476
Cash in hand 1,000 1,000
53,661 89,476
CREDITORS
Amounts falling due within one year 6 305,419 170,498
NET CURRENT LIABILITIES (251,758 ) (81,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(181,152

)

(31,586

)

CREDITORS
Amounts falling due after more than one
year

7

11,221

16,196
NET LIABILITIES (192,373 ) (47,782 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (193,373 ) (48,782 )
SHAREHOLDERS' FUNDS (192,373 ) (47,782 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

BALANCE SHEET - continued
31 MARCH 2023


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 19 October 2023 and were signed on its behalf by:





Mr P J Cox - Director


XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Xapsys 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going Concern
The company is supported by the directors and shareholders of the company, who will continue to support the company for the foreseeable future. On this basis, the directors considers it appropriate to prepare the financial statements on the going concern basis.

Turnover
Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of services, except in respect of service contracts where revenue is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful life.

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.

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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022 50,812
Additions 27,440
At 31 March 2023 78,252
AMORTISATION
At 1 April 2022 1,376
Charge for year 6,270
At 31 March 2023 7,646
NET BOOK VALUE
At 31 March 2023 70,606
At 31 March 2022 49,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46,009 63,132
Other debtors 6,652 25,344
52,661 88,476

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,312 14,620
Trade creditors 25,539 15,287
Taxation and social security 61,938 70,576
Other creditors 203,630 70,015
305,419 170,498

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,221 16,196

XAPSYS LIMITED (REGISTERED NUMBER: 09627623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. RELATED PARTY DISCLOSURES

At the end of the period an amount of £120,455 (2022 - £62,671) was owed to other related parties.

No interest was charged on the above balance.