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REGISTERED NUMBER: 08303221 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

XAK Investments Limited

XAK Investments Limited (Registered number: 08303221)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XAK Investments Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: M E Marshall





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 08303221 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

XAK Investments Limited (Registered number: 08303221)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,258,723 4,258,723

CURRENT ASSETS
Debtors 5 2,195 1,726
Cash at bank 23,411 29,156
25,606 30,882
CREDITORS
Amounts falling due within one year 6 2,202,057 2,222,637
NET CURRENT LIABILITIES (2,176,451 ) (2,191,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,082,272

2,066,968

CREDITORS
Amounts falling due after more than one
year

7

(982,563

)

(988,701

)

PROVISIONS FOR LIABILITIES 9 (177,066 ) (177,066 )
NET ASSETS 922,643 901,201

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 869,407 869,407
Retained earnings 10 53,136 31,694
SHAREHOLDERS' FUNDS 922,643 901,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

XAK Investments Limited (Registered number: 08303221)

Balance Sheet - continued
30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2024 and were signed by:





M E Marshall - Director


XAK Investments Limited (Registered number: 08303221)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

XAK Investments 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 the invoiced value of rents receivable during the period and is recognised in the period to which it relates to.

Investment property
Investment property is not depreciated but is revalued annually at its fair value in accordance with the Financial Reporting Standard 102 (Section 1A). Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred to a fair value reserve.

Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 4,258,723
NET BOOK VALUE
At 30 November 2023 4,258,723
At 30 November 2022 4,258,723

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 4,258,723

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,212,250 3,212,250
Aggregate depreciation (422,007 ) (357,766 )

Investment property was valued on a fair value basis on 30 November 2023 by the director .

XAK Investments Limited (Registered number: 08303221)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 2,195 1,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,523 7,221
Tax 2,902 -
Director's current account 2,184,312 2,204,536
Accruals and deferred income 7,320 10,880
2,202,057 2,222,637

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 7,912 7,594
Bank loans - 2-5 years 26,274 25,221
Bank loans - >5 years 207,435 214,944
Other loans - >5 years 740,942 740,942
982,563 988,701

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - >5 years 207,435 214,944
Other loans - >5 years 740,942 740,942
948,377 955,886

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 249,144 254,980
Other loans 740,942 740,942
990,086 995,922

The loans are secured by charges over the relevant properties concerned.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 177,066 177,066

XAK Investments Limited (Registered number: 08303221)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 177,066
Balance at 30 November 2023 177,066

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 31,694 869,407 901,101
Profit for the year 21,442 21,442
At 30 November 2023 53,136 869,407 922,543