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Registration number: 14236637

XCR Tech Ltd

Unaudited Filleted Financial Statements

for the Period from 15 July 2022 to 31 July 2023

 

XCR Tech Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

XCR Tech Ltd

Company Information

Directors

Leo Kellgren-Parker

Roberta Pichiorri

Xiaoxin Chen

Registered Number:

14236637

Registered office

127 Mortimer Road
London
NW10 5TN

Accountants

Ashton Allsop Limited
Chartered Accountants
Thorncroft Manor
Thorncroft Drive
Leatherhead
Surrey
KT22 8JB

 

XCR Tech Ltd

(Registration number: 14236637)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

2,834

Current assets

 

Debtors

7,786

Cash at bank and in hand

 

345,948

 

353,734

Creditors: Amounts falling due within one year

(4,406)

Net current assets

 

349,328

Net assets

 

352,162

Capital and reserves

 

Called up share capital

7

334

Share premium reserve

399,999

Retained earnings

(48,171)

Shareholders' funds

 

352,162

For the financial period ending 31 July 2023 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 April 2024 and signed on its behalf by:
 

.........................................
Leo Kellgren-Parker
Director

 

XCR Tech Ltd

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
127 Mortimer Road
London
NW10 5TN
United Kingdom

These financial statements were authorised for issue by the Board on 5 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors believe that the company is well placed to manage its financing and other business risks satisfactorily, and have a reasonable expectation that the company will have adequate resources to continues in operation for 12 months from the signing date of these financial statements. The directors have not identified any material uncertainties to the company's ability to continue as a going concern. They therefore consider it appropriate to adopt the going conern basis of accounting in preparing the financial statements.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line basis 25%

 

XCR Tech Ltd

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

XCR Tech Ltd

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

3,023

3,023

At 31 July 2023

3,023

3,023

Depreciation

Charge for the period

189

189

At 31 July 2023

189

189

Carrying amount

At 31 July 2023

2,834

2,834

5

Debtors

Note

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

217

Prepayments

 

330

Other debtors

 

6,400

VAT Control account

 

839

 

7,786

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

1,228

Other related parties

149

PAYE and NIC

1,929

Accruals and deferred income

1,100

4,406

 

XCR Tech Ltd

Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £0.001 each

334,333

334

     

8

Related party transactions

Loans to related parties

2023

Parent
£

Total
£

Advanced

217

217

At end of period

217

217

Terms of loans to related parties

The balance owed by the parent company is non interest bearing and repayable on demand.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is LIVR Limited, incorporated in England and Wales.