Registration number:
XCR Tech Ltd
for the Period from 15 July 2022 to 31 July 2023
XCR Tech Ltd
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
XCR Tech Ltd
Company Information
Directors |
Leo Kellgren-Parker Roberta Pichiorri Xiaoxin Chen |
Registered Number: |
14236637 |
Registered office |
|
Accountants |
|
XCR Tech Ltd
(Registration number: 14236637)
Balance Sheet as at 31 July 2023
Note |
2023 |
|
Fixed assets |
||
Tangible assets |
|
|
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current assets |
|
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
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 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
......................................... |
XCR Tech Ltd
Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
XCR Tech Ltd
Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023
Tangible assets |
Office equipment |
Total |
|
Cost or valuation |
||
Additions |
|
|
At 31 July 2023 |
|
|
Depreciation |
||
Charge for the period |
|
|
At 31 July 2023 |
|
|
Carrying amount |
||
At 31 July 2023 |
|
|
Debtors |
Note |
2023 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
Prepayments |
|
|
Other debtors |
6,400 |
|
VAT Control account |
839 |
|
|
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 |
|
|
XCR Tech Ltd
Notes to the Unaudited Financial Statements for the Period from 15 July 2022 to 31 July 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
||
No. |
£ |
|
|
|
334 |
Related party transactions |
Loans to related parties
2023 |
Parent |
Total |
Advanced |
|
|
At end of period |
|
|
|
Terms of loans to related parties
Parent and ultimate parent undertaking |
The company's immediate parent is