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REGISTERED NUMBER: 03910258 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

XADON LTD

XADON LTD (REGISTERED NUMBER: 03910258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XADON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: L R Abbott-Fryer
M F Shier





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 03910258 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

XADON LTD (REGISTERED NUMBER: 03910258)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,031 1,308
1,031 1,308

CURRENT ASSETS
Debtors 6 186,820 109,770
Cash at bank 5,144 9,780
191,964 119,550
CREDITORS
Amounts falling due within one year 7 571,036 477,109
NET CURRENT LIABILITIES (379,072 ) (357,559 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(378,041

)

(356,251

)

CREDITORS
Amounts falling due after more than one
year

8

281,000

305,000
NET LIABILITIES (659,041 ) (661,251 )

CAPITAL AND RESERVES
Called up share capital 14,600 14,600
Retained earnings (673,641 ) (675,851 )
SHAREHOLDERS' FUNDS (659,041 ) (661,251 )

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

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

XADON LTD (REGISTERED NUMBER: 03910258)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





L R Abbott-Fryer - Director


XADON LTD (REGISTERED NUMBER: 03910258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Xadon Ltd 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.

The company's financial statements have been prepared on the basis that the company is, and continues to be, a going concern. The directors are the main providers of the company's working capital and have indicated that they will continue to support the company for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten 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 each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Computer equipment - 33% on cost

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


XADON LTD (REGISTERED NUMBER: 03910258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 281,530
AMORTISATION
At 1 August 2022
and 31 July 2023 281,530
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

XADON LTD (REGISTERED NUMBER: 03910258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 35,820 897 36,717
DEPRECIATION
At 1 August 2022 34,871 538 35,409
Charge for year 232 45 277
At 31 July 2023 35,103 583 35,686
NET BOOK VALUE
At 31 July 2023 717 314 1,031
At 31 July 2022 949 359 1,308

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 179,217 109,381
Other debtors 7,603 389
186,820 109,770

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 61,309 128,484
Amounts owed to group undertakings 30,000 2,727
Taxation and social security 30,283 25,591
Other creditors 449,444 320,307
571,036 477,109

XADON LTD (REGISTERED NUMBER: 03910258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

20212020
££
Other creditors-96,110
Directors' loan accounts - 1-2 years48,00048,000
Directors' loan accounts - 2-5 years144,000144,000
Directors' loan accounts more 5 yr by instalments161,000209,000
353,000497,110

Amounts falling due in more than five years:

Repayable by instalments
Directors' loan accounts more 5 yr by instalments161,000209,000

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Preference shares 215,050 215,050

10. CONTINGENT LIABILITIES

The company is part of a VAT group and the following liabilities were outstanding at the balance sheet date:

2023 2022
£    £   
Opus UK Binding & Foiling Limited 21,156 16,920
Dayfold Limited 9,676 -

XADON LTD (REGISTERED NUMBER: 03910258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


11. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH DIRECTORS

Non interest bearing loans repayable by instalments. The amount due to the directors at the balance sheet date amounted to £353,000 (2022 - £401,000).

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to group companies at the balance sheet date amounted to £30,000 (2022 - £2,727).

12. ULTIMATE PARENT COMPANY

In the opinion of the directors, Dayfold Presentation Limited (Company number 04479519 registered in England & Wales) has been the company's parent and ultimate parent company since 3 April 2019.