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REGISTERED NUMBER: 08300902 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

X3 Solutions Ltd

X3 Solutions Ltd (Registered number: 08300902)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


X3 Solutions Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D R Beswick
M A Newell





REGISTERED OFFICE: Unit 6 LDL Business Centre
Station Road West
Ash Vale
Surrey
GU12 5RT





REGISTERED NUMBER: 08300902 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

X3 Solutions Ltd (Registered number: 08300902)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 101,442 29,888

CURRENT ASSETS
Debtors 5 130,514 163,567
Cash at bank and in hand 195,911 6,255
326,425 169,822
CREDITORS
Amounts falling due within one year 6 (261,487 ) (144,351 )
NET CURRENT ASSETS 64,938 25,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,380

55,359

CREDITORS
Amounts falling due after more than one
year

7

(86,802

)

(44,703

)

PROVISIONS FOR LIABILITIES (25,715 ) (5,679 )
NET ASSETS 53,863 4,977

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 53,860 4,974
SHAREHOLDERS' FUNDS 53,863 4,977

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.

X3 Solutions Ltd (Registered number: 08300902)

Statement of Financial Position - 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 28 June 2024 and were signed on its behalf by:





M A Newell - Director


X3 Solutions Ltd (Registered number: 08300902)

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


1. STATUTORY INFORMATION

X3 Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax.

Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and as part of creditors due within one year.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33.33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

X3 Solutions Ltd (Registered number: 08300902)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Pension costs
The company contributes to privately administered pension plans and the company's pension scheme. Contributions are charged to the Income Statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 194,874 9,850 416 41,913 247,053
Additions 5,041 806 - 92,837 98,684
At 31 December 2023 199,915 10,656 416 134,750 345,737
DEPRECIATION
At 1 January 2023 179,488 5,457 416 31,804 217,165
Charge for year 9,926 1,343 - 15,861 27,130
At 31 December 2023 189,414 6,800 416 47,665 244,295
NET BOOK VALUE
At 31 December 2023 10,501 3,856 - 87,085 101,442
At 31 December 2022 15,386 4,393 - 10,109 29,888

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 11,641 26,193
Other debtors 8,843 8,843
Directors' current accounts 80,872 111,902
Prepayments and accrued income 18,233 5,704
119,589 152,642

X3 Solutions Ltd (Registered number: 08300902)

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


5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 10,925 10,925

Aggregate amounts 130,514 163,567

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans 6,720 6,320
Other loans 5,556 5,556
Hire purchase contracts (see note 8) 15,415 -
Trade creditors 155,442 48,998
Tax 46,958 41,645
Social security and other taxes 6,317 4,524
VAT 9,186 27,446
Other creditors 983 759
Credit card 14,028 8,211
Accruals and deferred income 882 892
261,487 144,351

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,334 6,720
Bank loans - 2-5 years - 2,334
Other loans - 1-2 years 5,556 5,556
Other loans - 2-5 years 24,537 16,667
Other loans over 5 years - 13,426
Hire purchase contracts (see note 8) 54,375 -
86,802 44,703

Amounts falling due in more than five years:

Repayable by instalments
Other loans over 5 years - 13,426

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 15,415 -
Between one and five years 54,375 -
69,790 -

X3 Solutions Ltd (Registered number: 08300902)

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


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 51,300 35,625
Between one and five years 218,025 -
269,325 35,625

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 69,790 -

The hire purchase contracts are secured on the assets held under these contracts.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D R Beswick
Balance outstanding at start of year 55,980 13,618
Amounts advanced 62,459 80,174
Amounts repaid (77,971 ) (37,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,468 55,980

M A Newell
Balance outstanding at start of year 55,922 13,593
Amounts advanced 62,455 80,141
Amounts repaid (77,973 ) (37,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,404 55,922

Loans to the directors in excess of £10,000 are subject to interest at HMRC's approved rate. All loans are unsecured and repayable on demand.