Registered number
13500760
X Consulting Engineers Limited
Unaudited Filleted Accounts
31 July 2023
X Consulting Engineers Limited
Registered number: 13500760
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,156 5,450
Current assets
Debtors 4 188,301 130,889
Cash at bank and in hand 210,264 124,103
398,565 254,992
Creditors: amounts falling due within one year 5 (97,386) (75,550)
Net current assets 301,179 179,442
Total assets less current liabilities 326,335 184,892
Provisions for liabilities (6,290) (1,036)
Net assets 320,045 183,856
Capital and reserves
Called up share capital 3 3
Profit and loss account 320,042 183,853
Shareholders' funds 320,045 183,856
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrew Oliver
Director
Approved by the board on 2 April 2024
X Consulting Engineers Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight line
Motor Vehicles 20% Straight line
Debtors and creditors receivable/payable within one year
Debtors and Creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 7,267 - 7,267
Additions 20,716 7,483 28,199
At 31 July 2023 27,983 7,483 35,466
Depreciation
At 1 August 2022 1,817 - 1,817
Charge for the year 6,996 1,497 8,493
At 31 July 2023 8,813 1,497 10,310
Net book value
At 31 July 2023 19,170 5,986 25,156
At 31 July 2022 5,450 - 5,450
4 Debtors 2023 2022
£ £
Trade debtors 57,396 41,557
Other debtors 130,905 89,332
188,301 130,889
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,477 426
Taxation and social security costs 94,925 73,997
Other creditors 984 1,127
97,386 75,550
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest charged at HMRC's official rate, repayable on demand (31,792) (30,599) 34,758 (27,633)
Director
Interest charged at HMRC's official rate, repayable on demand (20,386) (40,307) 40,987 (19,706)
Director
Interest charged at HMRC's official rate, repayable on demand (34,401) (81,798) 39,369 (76,830)
(86,579) (152,704) 115,114 (124,169)
7 Other information
X Consulting Engineers Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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