1 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04653868 2022-02-01 2023-01-31 04653868 2023-01-31 04653868 2022-01-31 04653868 2021-02-01 2022-01-31 04653868 2022-01-31 04653868 core:FurnitureFittings 2022-02-01 2023-01-31 04653868 core:MotorVehicles 2022-02-01 2023-01-31 04653868 bus:Director1 2022-02-01 2023-01-31 04653868 core:FurnitureFittings 2022-01-31 04653868 core:FurnitureFittings 2023-01-31 04653868 core:WithinOneYear 2023-01-31 04653868 core:WithinOneYear 2022-01-31 04653868 core:ShareCapital 2023-01-31 04653868 core:ShareCapital 2022-01-31 04653868 core:RetainedEarningsAccumulatedLosses 2023-01-31 04653868 core:RetainedEarningsAccumulatedLosses 2022-01-31 04653868 core:FurnitureFittings 2022-01-31 04653868 bus:SmallEntities 2022-02-01 2023-01-31 04653868 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 04653868 bus:FullAccounts 2022-02-01 2023-01-31 04653868 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 04653868 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 04653868 core:OfficeEquipment 2022-02-01 2023-01-31 04653868 core:OfficeEquipment 2023-01-31 04653868 core:OfficeEquipment 2022-01-31 04653868 core:AllAssociates 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 04653868
IXI 518 Limited
Filleted Unaudited Financial Statements
31 January 2023
IXI 518 Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,958
2,610
Current assets
Debtors
6
1,424
35,046
Cash at bank and in hand
189,570
97,592
---------
---------
190,994
132,638
Creditors: amounts falling due within one year
7
52,633
14,448
---------
---------
Net current assets
138,361
118,190
---------
---------
Total assets less current liabilities
140,319
120,800
---------
---------
Net assets
140,319
120,800
---------
---------
Capital and reserves
Called up share capital
110
110
Profit and loss account
140,209
120,690
---------
---------
Shareholder funds
140,319
120,800
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
IXI 518 Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:
Mrs A Sheppard
Director
Company registration number: 04653868
IXI 518 Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, Lumiere, Elstree Way, Borehamwood, WD6 1JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
4,420
11,683
16,103
-------
--------
--------
Depreciation
At 1 February 2022
2,999
10,494
13,493
Charge for the year
355
297
652
-------
--------
--------
At 31 January 2023
3,354
10,791
14,145
-------
--------
--------
Carrying amount
At 31 January 2023
1,066
892
1,958
-------
--------
--------
At 31 January 2022
1,421
1,189
2,610
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
120
Other debtors
1,424
34,926
-------
--------
1,424
35,046
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
48
269
Corporation tax
12,894
3,099
Social security and other taxes
7,199
9,290
Other creditors
32,492
1,790
--------
--------
52,633
14,448
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
9. Related party transactions
The company was under the control of Mrs A Sheppard throughout the current and previous year. Mrs A Sheppard is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS 102 (Section 1A).