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Registration number: 13965519

ipXchange.tech Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

ipXchange.tech Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

ipXchange.tech Limited

Company Information

Director

Mr J G Forster

Registered office

4 Lucastes Mews
Paddockhall Road
Haywards Heath
West Sussex
RH16 1HE

 

ipXchange.tech Limited

(Registration number: 13965519)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

5,346

7,128

Tangible assets

5

3,170

250

 

8,516

7,378

Current assets

 

Debtors

6

1,000

1,000

Cash at bank and in hand

 

200

5,000

 

1,200

6,000

Creditors: Amounts falling due within one year

7

(256,875)

(86,299)

Net current liabilities

 

(255,675)

(80,299)

Net liabilities

 

(247,159)

(72,921)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(248,159)

(73,921)

Shareholders' deficit

 

(247,159)

(72,921)

 

ipXchange.tech Limited

(Registration number: 13965519)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 March 2024
 

.........................................
Mr J G Forster
Director

 

ipXchange.tech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
4 Lucastes Mews
Paddockhall Road
Haywards Heath
West Sussex
RH16 1HE

These financial statements were authorised for issue by the director on 12 March 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 financial statements have been prepared on a going concern basis.

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

3 Years straight line

 

ipXchange.tech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible asset

5 Years straight line

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

ipXchange.tech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2022

8,910

8,910

At 30 September 2023

8,910

8,910

Amortisation

At 1 October 2022

1,782

1,782

Amortisation charge

1,782

1,782

At 30 September 2023

3,564

3,564

Carrying amount

At 30 September 2023

5,346

5,346

At 30 September 2022

7,128

7,128

 

ipXchange.tech Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2022

375

375

Additions

4,568

4,568

At 30 September 2023

4,943

4,943

Depreciation

At 1 October 2022

125

125

Charge for the year

1,648

1,648

At 30 September 2023

1,773

1,773

Carrying amount

At 30 September 2023

3,170

3,170

At 30 September 2022

250

250

6

Debtors

Current

2023
£

2022
£

Other debtors

1,000

1,000

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

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

8

256,875

86,299

8

Parent and ultimate parent undertaking

The company’s ultimate parent is The Edge Marketing Solutions Limited, incorporated in England and Wales.