Registered number
11470081
XB SG EA LIMITED
Filleted Accounts
31 July 2023
XB SG EA LIMITED
Registered number: 11470081
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 425,250 425,250
Current assets
Cash at bank and in hand 10,523 2,303
Creditors: amounts falling due within one year 4 (16,089) (17,439)
Net current liabilities (5,566) (15,136)
Total assets less current liabilities 419,684 410,114
Creditors: amounts falling due after more than one year 5 (397,892) (389,378)
Net assets 21,792 20,736
Capital and reserves
Called up share capital 1 1
Profit and loss account 21,791 20,735
Shareholders' funds 21,792 20,736
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.
Angela Dzifah Ocloo-Adeleye
Director
Approved by the board on 6 April 2024
XB SG EA 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rental of the property.
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:
Freehold buildings 0%
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 425,250
At 31 July 2023 425,250
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 425,250
At 31 July 2022 425,250
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 13,800 13,800
Taxation and social security costs 248 1,207
Other creditors 2,041 2,432
16,089 17,439
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 397,892 389,378
6 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of her ownership, together with associates, of the company’s entire issued share capital.
7 Other information
XB SG EA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
155a West Green Road
London
N15 5EA
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