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COMPANY REGISTRATION NUMBER: 09935998
Xpert Resourcing Limited
Unaudited financial statements
31 January 2024
Xpert Resourcing Limited
Statement of financial position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,798
3,110
Current assets
Debtors
6
49,343
28,820
Cash at bank and in hand
90,673
73,498
---------
---------
140,016
102,318
Creditors: Amounts falling due within one year
7
( 96,018)
( 63,123)
---------
---------
Net current assets
43,998
39,195
-------
-------
Total assets less current liabilities
46,796
42,305
Creditors: Amounts falling due after more than one year
8
( 13,333)
( 21,333)
Provisions
Taxation including deferred tax
( 679)
( 636)
-------
-------
Net assets
32,784
20,336
-------
-------
Capital and reserves
Called up share capital
4
4
Profit and loss account
32,780
20,332
-------
-------
Shareholders funds
32,784
20,336
-------
-------
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 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have 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 .
Xpert Resourcing Limited
Statement of financial position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 8 March 2024 , and are signed on behalf of the board by:
P A Smith
E L Smith
Director
Director
Company registration number: 09935998
Xpert Resourcing Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Lynn Road, Ely, Cambridgeshire, CB7 4EG, United Kingdom.
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 services rendered, net of discounts and of Value Added Tax.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
Office equipment
-
25% straight line
Computer equipment
-
25% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 10 (2023: 9 ).
5. Tangible assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 1 February 2023
2,864
2,834
5,698
Additions
167
856
1,023
------
------
------
At 31 January 2024
3,031
3,690
6,721
------
------
------
Depreciation
At 1 February 2023
1,296
1,292
2,588
Charge for the year
680
655
1,335
------
------
------
At 31 January 2024
1,976
1,947
3,923
------
------
------
Carrying amount
At 31 January 2024
1,055
1,743
2,798
------
------
------
At 31 January 2023
1,568
1,542
3,110
------
------
------
6. Debtors
2024
2023
£
£
Trade debtors
45,983
25,328
Other debtors
3,360
3,492
-------
-------
49,343
28,820
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,000
8,000
Trade creditors
654
1,275
Social security and other taxes
83,522
47,360
Other creditors
3,842
6,488
-------
-------
96,018
63,123
-------
-------
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,333
21,333
-------
-------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
1,350
1,350
------
------