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REGISTERED NUMBER: 07418327 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

XCD HR Limited

XCD HR Limited (Registered number: 07418327)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XCD HR Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P D Gibson
Ms V Murria
W R Gresty
A Bray





REGISTERED OFFICE: Castlemead
Lower Castle Street
Bristol
BS1 3AG





REGISTERED NUMBER: 07418327 (England and Wales)





ACCOUNTANTS: Norton Accountancy Ltd
7 Soundwell Road
Staple Hill
Bristol
BS16 4QG

XCD HR Limited (Registered number: 07418327)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,321 26,263
Investments 6 2,288,086 2,288,086
2,307,407 2,314,349

CURRENT ASSETS
Debtors 7 1,109,537 763,029
Cash at bank 1,131,593 2,638,815
2,241,130 3,401,844
CREDITORS
Amounts falling due within one year 8 1,651,107 1,765,656
NET CURRENT ASSETS 590,023 1,636,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,897,430

3,950,537

PROVISIONS FOR LIABILITIES 4,830 6,566
NET ASSETS 2,892,600 3,943,971

CAPITAL AND RESERVES
Called up share capital 360 360
Share premium 7,828,496 7,827,018
Retained earnings (4,936,256 ) (3,883,407 )
2,892,600 3,943,971

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

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

XCD HR Limited (Registered number: 07418327)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2024 and were signed on its behalf by:





A Bray - Director


XCD HR Limited (Registered number: 07418327)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

XCD HR 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
Revenue represents the invoiced value for services completed in the year. Services include the design and research and development of an online human resources database and revenue is recognised once the work has been completed. All revenues are recognised net of credit notes and VAT.

Any amounts relating to services provided post year end are treated as deferred income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


XCD HR Limited (Registered number: 07418327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 30,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

XCD HR Limited (Registered number: 07418327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 35,999 3,519 77,396 116,914
Additions - - 10,407 10,407
At 31 March 2023 35,999 3,519 87,803 127,321
DEPRECIATION
At 1 April 2022 28,799 3,519 58,333 90,651
Charge for year 7,200 - 10,149 17,349
At 31 March 2023 35,999 3,519 68,482 108,000
NET BOOK VALUE
At 31 March 2023 - - 19,321 19,321
At 31 March 2022 7,200 - 19,063 26,263

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 2,288,086
NET BOOK VALUE
At 31 March 2023 2,288,086
At 31 March 2022 2,288,086

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 490,363 413,150
Amounts owed by group undertakings 29,681 -
Other debtors 496,053 233,681
Prepayments and accrued income 93,440 116,198
1,109,537 763,029

XCD HR Limited (Registered number: 07418327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 133,099 154,599
Social security and other taxes 62,134 55,363
Pension control 20,846 18,961
VAT 61,626 47,815
Other creditors 14,300 8,273
Amounts owed to group undertak - 57,630
Deferred income 1,225,818 1,183,537
Accrued expenses 133,284 239,478
1,651,107 1,765,656