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Company Registration No. 11102872 (England and Wales)
Xnav Electrical Ltd Unaudited accounts for the year ended 31 December 2023
Xnav Electrical Ltd Unaudited accounts Contents
Page
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Xnav Electrical Ltd Company Information for the year ended 31 December 2023
Director
Scott Waldern
Company Number
11102872 (England and Wales)
Registered Office
314 Milton Road Waterlooville PO8 8JR
Accountants
Clare Weeks Accounting 18 Drift Road Wallington Fareham Hampshire PO16 8SY
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Xnav Electrical Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,544 
23,317 
Current assets
Inventories
650 
650 
Debtors
22,396 
13,104 
Cash at bank and in hand
43 
1,507 
23,089 
15,261 
Creditors: amounts falling due within one year
(10,589)
(6,885)
Net current assets
12,500 
8,376 
Total assets less current liabilities
28,044 
31,693 
Creditors: amounts falling due after more than one year
(9,706)
(13,519)
Net assets
18,338 
18,174 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
18,238 
18,074 
Shareholders' funds
18,338 
18,174 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2024 and were signed on its behalf by
Scott Waldern Director Company Registration No. 11102872
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Xnav Electrical Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Xnav Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 11102872. The registered office is 314 Milton Road, Waterlooville, PO8 8JR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
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Xnav Electrical Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 January 2023
31,089 
At 31 December 2023
31,089 
Depreciation
At 1 January 2023
7,772 
Charge for the year
7,773 
At 31 December 2023
15,545 
Net book value
At 31 December 2023
15,544 
At 31 December 2022
23,317 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
15,545 
23,317 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,023 
563 
Trade debtors
12,416 
5,647 
Other debtors
5,957 
6,894 
22,396 
13,104 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
4,160 
4,160 
Taxes and social security
4,549 
1,460 
Loans from directors
1,880 
1,265 
10,589 
6,885 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
9,706 
13,519 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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