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REGISTERED NUMBER: 08763587 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S R Matthews
L Walters





REGISTERED OFFICE: Audley House
13 Palace street
London
London
SW1E 5HX





REGISTERED NUMBER: 08763587 (England and Wales)





ACCOUNTANTS: Gynch Shaw Maurice & Co
Chartered Certified Accountants
Rear of No 2
SPM House
Glenthorne Road
Friern Barnet
London
N11 3HT

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,897 2,318

CURRENT ASSETS
Debtors 5 167,614 140,585
Cash at bank 768,868 516,002
936,482 656,587
CREDITORS
Amounts falling due within one year 6 343,768 244,605
NET CURRENT ASSETS 592,714 411,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,611

414,300

CAPITAL AND RESERVES
Called up share capital 2,867 2,867
Capital redemption reserve 186 186
Retained earnings 591,558 411,247
SHAREHOLDERS' FUNDS 594,611 414,300

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

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

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)

Balance Sheet - continued
31 December 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 15 April 2024 and were signed on its behalf by:




S R Matthews - Director



L Walters - Director


XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)

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

1. STATUTORY INFORMATION

Xpansion Financial Technology Services 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
Turnover represent fees received from technology consultancy and software development net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer & Equipment -50% reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 17,923
Additions 1,477
At 31 December 2023 19,400
DEPRECIATION
At 1 January 2023 15,605
Charge for year 1,898
At 31 December 2023 17,503
NET BOOK VALUE
At 31 December 2023 1,897
At 31 December 2022 2,318

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 123,182 97,929
Other debtors 44,432 42,656
167,614 140,585

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 18,939 2,871
Other creditors 324,829 241,734
343,768 244,605

7. CONTINGENT LIABILITIES

There were no contingent liabilities at balance sheet date.

8. OTHER FINANCIAL COMMITMENTS

There were no other financial commitments as at balance sheet date.

XPANSION FINANCIAL TECHNOLOGY SERVICES
LIMITED (REGISTERED NUMBER: 08763587)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan accounts were as follows:

2023 2022
(£) (£)

Mr C. Plouvier (542) 996

Mr A. Zoghbi (542) 960


Above are amounts owed by the directors as at year end.

10. RELATED PARTY DISCLOSURES

Dividend of, £120,000 were paid to the shareholders holding the Class B ordinary shares.

11. POST BALANCE SHEET EVENTS

There were no post balance sheet events as at balance sheet date.