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Registration number: 14464887

XCO Investments Ltd

Unaudited Financial Statements

for the Period from 7 November 2022 to 30 November 2023

 

XCO Investments Ltd

(Registration number: 14464887)
Balance Sheet as at 30 November 2023

Note

2023
£

Fixed assets

 

Investments

4

101

Current assets

 

Debtors

5

219,910

Creditors: Amounts falling due within one year

6

(690)

Net current assets

 

219,220

Total assets less current liabilities

 

219,321

Creditors: Amounts falling due after more than one year

6

(1)

Provisions for liabilities

131

Net assets

 

219,451

Capital and reserves

 

Called up share capital

10

Retained earnings

219,441

Shareholders' funds

 

219,451

For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 December 2023
 

 

XCO Investments Ltd

(Registration number: 14464887)
Balance Sheet as at 30 November 2023

.........................................
Mr M J Donlevey
Company secretary and director

 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 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:
128 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the director on 17 December 2023.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure of long or short period

This is the first period of trading since incorporation and covers an extended period from incorporation on 7.11.22 to the year end 30.11.23.

Going concern

The financial statements have been prepared on a going concern basis.

 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 2023

Trade debtors

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

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investments

2023
£

Investments in subsidiaries

101

Subsidiaries

£

Cost or valuation

Additions

101

Provision

Carrying amount

At 30 November 2023

101

 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

Subsidiary undertakings

Dumont Capital Ltd

128 City Road, London, United Kingdom, EC1V 2NX

United Kingdom

Ordinary

100%

Photon Trading Ltd

128 City Road, London, United Kingdom, EC1V 2NX

United Kingdom

Ordinary

100%

5

Debtors

Current

Note

2023
£

Amounts owed by related parties

9

219,900

Other debtors

 

10

   

219,910

 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

690

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Other non-current financial liabilities

1

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £0.01 each

1,000

10.00

     

8

Dividends

2023

£

Interim dividend of £603.00 per ordinary share

603,000

 
 

XCO Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 7 November 2022 to 30 November 2023

9

Related party transactions

At the balance sheet date the company was owed £219,900 by Dumont Capital Ltd, a wholly owned subsidary. The loan is interest free and repayable on demand.

At the balance sheet date the company owed £1 to Photon trading Ltd a wholly owned subsidary. The loan is interest free and repayable on demand.

At the balance sheet date the Director owed the company £10 . The loan is interest free and repayable on demand and was repaid within 9 months of the year end.

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr M J Donlevey, by virtue of his shareholding.