Company Registration No. 03665193 (England and Wales)
X-Static Services Limited
Unaudited accounts
for the year ended 30 November 2022
X-Static Services Limited
Unaudited accounts
Contents
X-Static Services Limited
Company Information
for the year ended 30 November 2022
Directors
Mr J Demetriou
Mrs S Demetriou
Company Number
03665193 (England and Wales)
Registered Office
Unit 10 Gateway Mews
Bounds Green Industrial Estate
London
N11 2UT
Accountants
Loizou Associates Limited
Chancerygate Business Centre
Unit 1g, Tewin Court
Welwyn Garden City
Hertfordshire
AL7 1AU
X-Static Services Limited
Statement of financial position
as at 30 November 2022
Cash at bank and in hand
25,966
69,994
Creditors: amounts falling due within one year
(6,076)
(7,481)
Net current assets
28,808
74,348
Called up share capital
2
2
Profit and loss account
29,072
74,702
Shareholders' funds
29,074
74,704
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by
Mr J Demetriou
Director
Company Registration No. 03665193
X-Static Services Limited
Notes to the Accounts
for the year ended 30 November 2022
X-Static Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03665193. The registered office is Unit 10 Gateway Mews, Bounds Green Industrial Estate, London, N11 2UT.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparing the accounts
These accounts 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 accounts have been prepared under the historical cost convention.
The presentation currency of the accounts is the Pound Sterling (£).
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
X-Static Services Limited
Notes to the Accounts
for the year ended 30 November 2022
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 the accounts. 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.
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2021
10,605
578
11,183
At 30 November 2022
10,605
578
11,183
At 1 December 2021
10,253
574
10,827
Charge for the year
88
2
90
At 30 November 2022
10,341
576
10,917
At 30 November 2022
264
2
266
At 30 November 2021
352
4
356
Amounts falling due within one year
Accrued income and prepayments
-
1,652
5
Creditors: amounts falling due within one year
2022
2021
Trade creditors
1,999
2,662
Taxes and social security
1,314
943
Loans from directors
773
445
X-Static Services Limited
Notes to the Accounts
for the year ended 30 November 2022
6
Transactions with related parties
The company operates from premises owned by the directors. During the year the rent paid by the company to the directors was nil (2021: £9,000).
The directors' current account comprises of £773 (2021: £445) owed to Mr D Demetriou and Mrs S Demetriou and is interest free.
7
Average number of employees
During the year the average number of employees was 0 (2021: 0).