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Registration number: 05608092

Xentair International Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Xentair International Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Xentair International Limited

Company Information

Directors

Mr P R Miles

Mrs E L Miles

Mr H W Piggot

Registered office

Unit 4C
Ash Business Park
Ash Lane
Tadley
Hampshire
RG26 5FL

Accountants

ASL Accountants
15 Millers Way
Houghton Regis
Dunstable
Bedfordshire
LU5 5FH

 

Xentair International Limited

(Registration number: 05608092)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

4,075

2,704

Current assets

 

Stocks

6

27,780

7,240

Debtors

7

50,136

67,460

Cash at bank and in hand

 

229,654

291,268

 

307,570

365,968

Creditors: Amounts falling due within one year

8

(50,741)

(83,451)

Net current assets

 

256,829

282,517

Net assets

 

260,904

285,221

Capital and reserves

 

Called up share capital

100

100

Retained earnings

260,804

285,121

Shareholders' funds

 

260,904

285,221

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 April 2024 and signed on its behalf by:
 

 

Xentair International Limited

(Registration number: 05608092)
Balance Sheet as at 31 October 2023

.........................................
Mr P R Miles
Director

.........................................
Mr H W Piggot
Director

 
     
 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Unit 4C
Ash Business Park
Ash Lane
Tadley
Hampshire
RG26 5FL

These financial statements were authorised for issue by the Board on 12 April 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Coronovirus Job Retention Grants and associated covid support grants are credited to profit and loss as received.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures and fittings

10% on cost

Motor vehicles

20% on cost

Office equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

11,297

15,030

 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

24,097

29,990

1,112

55,199

Additions

3,978

-

-

3,978

At 31 October 2023

28,075

29,990

1,112

59,177

Depreciation

At 1 November 2022

21,393

29,990

1,112

52,495

Charge for the year

2,607

-

-

2,607

At 31 October 2023

24,000

29,990

1,112

55,102

Carrying amount

At 31 October 2023

4,075

-

-

4,075

At 31 October 2022

2,704

-

-

2,704

6

Stocks

2023
£

2022
£

Other inventories

27,780

7,240

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

28,390

47,369

Amounts owed by related parties

10

20,300

15,000

Other debtors

 

1,446

5,091

   

50,136

67,460

 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

28,842

53,444

Other payables

 

7,502

11,878

Accruals

 

3,100

3,100

Corporation tax liability

11,297

15,029

 

50,741

83,451

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £946 (2022 - £4,730). The company has no formal lease agreement with the landlord of the premises it occupies rent being settled on a monthly non repairing basis.

The company has future operating lease committments due within 12 months £946.

10

Related party transactions

The loans to the directors are interest free and repayable on demand.

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr P R Miles

Loan to the director

(1,004)

1,004

-

-

Mrs E L Miles

Loan to the director

1,163

-

(1,163)

-

 

Xentair International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mr P R Miles

Loan to the director

3,581

6,228

(10,813)

(1,004)

Mrs E L Miles

Loan to the director

981

182

-

1,163

Summary of transactions with entities with joint control or significant interest

The company purchased goods totalling £360 (2022 £2,638) from Eurochip Ltd of which the directors H A Piggot and P A Miles are also controlling shareholders and directors.


 

Summary of transactions with other related parties

Interest free and repayable on demand loan to Sipped Ltd
 

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

15,000

15,000

Advanced

5,300

5,300

At end of period

20,300

20,300

2022

Other related parties
£

Total
£

Advanced

15,000

15,000

At end of period

15,000

15,000