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REGISTERED NUMBER: 05583650 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

X4 CONSTRUCTION LIMITED

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


X4 CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr L Sobol
Mrs F C Sobol
Mr M Higgs



SECRETARY: Mrs F C Sobol



REGISTERED OFFICE: The Hay Tower
Staverton
Totnes
Devon
TQ9 6AS



REGISTERED NUMBER: 05583650 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds Bank Plc
41 Courtenay Street
Newton Abbot
Devon
TQ12 2EA

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,985 25,266

CURRENT ASSETS
Stocks 5 6,000 6,000
Debtors 6 39,922 20,500
Cash at bank 173,738 130,035
219,660 156,535
CREDITORS
Amounts falling due within one year 7 184,371 120,413
NET CURRENT ASSETS 35,289 36,122
TOTAL ASSETS LESS CURRENT LIABILITIES 55,274 61,388

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (3,797 ) (4,801 )
NET ASSETS 37,310 32,420

CAPITAL AND RESERVES
Called up share capital 52 52
Share premium 3,343 -
Retained earnings 33,915 32,368
SHAREHOLDERS' FUNDS 37,310 32,420

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:




Mrs F C Sobol - Director Mr L Sobol - Director




Mr M Higgs - Director


X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

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


1. STATUTORY INFORMATION

X4 Construction 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.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 14,697 37,809 2,978 55,484
Additions - - 915 915
At 31 December 2023 14,697 37,809 3,893 56,399
DEPRECIATION
At 1 January 2023 6,057 21,517 2,644 30,218
Charge for year 1,728 4,073 395 6,196
At 31 December 2023 7,785 25,590 3,039 36,414
NET BOOK VALUE
At 31 December 2023 6,912 12,219 854 19,985
At 31 December 2022 8,640 16,292 334 25,266

5. STOCKS
2023 2022
£    £   
Stocks 6,000 6,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,321 17,097
Other debtors 3,582 2,892
Prepayments 1,019 511
39,922 20,500

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 9,756 8,855
Tax 6,557 7,974
Social security and other taxes 3,590 3,229
VAT 42,346 37,666
Other creditors 7,074 389
Directors' current accounts 97,826 46,989
Accrued expenses 7,222 5,311
184,371 120,413

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 14,167 -
Bank loans - 2-5 years - 24,167
14,167 24,167

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr L Sobol
Balance outstanding at start of year (23,494 ) (8,784 )
Amounts advanced 10,151 27,152
Amounts repaid (35,570 ) (41,862 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,913 ) (23,494 )

Mrs F C Sobol
Balance outstanding at start of year (23,494 ) (8,784 )
Amounts advanced 10,151 21,282
Amounts repaid (35,570 ) (35,992 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,913 ) (23,494 )

Mr M Higgs
Balance outstanding at start of year - -
Amounts advanced 12,900 -
Amounts repaid (12,900 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

X4 CONSTRUCTION LIMITED (REGISTERED NUMBER: 05583650)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Loans are unsecured and repayable on demand. Interest is charged at 10.00% in the year on credit loan balances.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,900 (2022 - £70,000) were paid to the directors .

11. BOUNCE BACK LOAN

The bank loan of £24,167 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to June 2026.