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REGISTERED NUMBER: 09981618 (England and Wales)









Unaudited Financial Statements

for the Year Ended 28 February 2023

for

XBLADES RACING LIMITED

XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XBLADES RACING LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTOR: R J D De-Aragues





REGISTERED OFFICE: The Old Workshop
1 Ecclesall Road South
Sheffield
S11 9PA





REGISTERED NUMBER: 09981618 (England and Wales)





ACCOUNTANTS: Brown McLeod Limited
Chartered Accountants
The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA

XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,800 21,975

CURRENT ASSETS
Stocks - 2,990
Debtors 5 5,525 37,370
Cash at bank 24,272 16,979
29,797 57,339
CREDITORS
Amounts falling due within one year 6 59,614 11,654
NET CURRENT (LIABILITIES)/ASSETS (29,817 ) 45,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,017

)

67,660

CREDITORS
Amounts falling due after more than one
year

7

40,743

60,744
NET (LIABILITIES)/ASSETS (65,760 ) 6,916

CAPITAL AND RESERVES
Called up share capital 1,001 1,000
Retained earnings (66,761 ) 5,916
(65,760 ) 6,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)

Balance Sheet - continued
28 February 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 director and authorised for issue on 27 November 2023 and were signed by:





R J D De-Aragues - Director


XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Xblades Racing 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 financial statements. 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 March 2022 63,565
Disposals (58,765 )
At 28 February 2023 4,800
DEPRECIATION
At 1 March 2022 41,590
Charge for year 1,698
Eliminated on disposal (43,286 )
Revaluation adjustments (2 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 4,800
At 28 February 2022 21,975

Cost or valuation at 28 February 2023 is represented by:

**ERROR**
£   

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
FIXTURES AND FITTINGS

'COST' ACCOUNT TOTAL
Cost/valuation b/f 28,555
Disposals (26,905 )
1,650

CLIENT SCREEN TOTAL = -


** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
COMPUTER EQUIPMENT

'COST' ACCOUNT TOTAL
Cost/valuation b/f 35,010
Disposals (31,860 )
3,150

CLIENT SCREEN TOTAL = -


XBLADES RACING LIMITED (REGISTERED NUMBER: 09981618)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 8,200
Other debtors 5,525 29,170
5,525 37,370

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors - 1,878
Taxation and social security - 6,958
Other creditors 49,614 2,818
59,614 11,654

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 40,743 17,411
Other creditors - 43,333
40,743 60,744

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 17,410 17,411