Registered number
04110819
XL DESIGNS LIMITED
Filleted Accounts
30 November 2023
XL DESIGNS LIMITED
Registered number: 04110819
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 918 229
Current assets
Debtors 4 2,808 -
Cash at bank and in hand 19,926 23,223
22,734 23,223
Creditors: amounts falling due within one year 5 (10,182) (10,237)
Net current assets 12,552 12,986
Total assets less current liabilities 13,470 13,215
Creditors: amounts falling due after more than one year 6 (5,265) (7,705)
Net assets 8,205 5,510
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,105 5,410
Shareholder's funds 8,205 5,510
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vanya Ivanova
Director
Approved by the board on 31 July 2024
XL DESIGNS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 9,401
Additions 918
At 30 November 2023 10,319
Depreciation
At 1 December 2022 9,172
Charge for the year 229
At 30 November 2023 9,401
Net book value
At 30 November 2023 918
At 30 November 2022 229
4 Debtors 2023 2022
£ £
Trade debtors 2,808 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,440 2,440
Taxation and social security costs 471 870
Other creditors 7,271 6,927
10,182 10,237
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,265 7,705
7 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of her ownership of the company’s entire issued share capital.
8 Other information
XL DESIGNS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
30 Wendling Road
Sutton
Surrey
SM1 3ND
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