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REGISTERED NUMBER: 08537655 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

X1 The Gateway Limited

X1 The Gateway Limited (Registered number: 08537655)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


X1 The Gateway Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mrs L Smith





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 08537655 (England and Wales)






X1 The Gateway Limited (Registered number: 08537655)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
CURRENT ASSETS
Debtors 4 1,633,659 1,633,659

CREDITORS
Amounts falling due within one year 5 4,997,608 4,997,608
NET CURRENT LIABILITIES (3,363,949 ) (3,363,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,363,949

)

(3,363,949

)

PROVISIONS FOR LIABILITIES 5,135,121 5,135,121
NET LIABILITIES (8,499,070 ) (8,499,070 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (8,499,071 ) (8,499,071 )
SHAREHOLDERS' FUNDS (8,499,070 ) (8,499,070 )

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 14 August 2024 and were signed by:





Mrs L Smith - Director


X1 The Gateway Limited (Registered number: 08537655)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

X1 The Gateway Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed by group undertakings 296,403 296,403
Other debtors 1,337,256 1,337,256
1,633,659 1,633,659

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed to group undertakings 3,936,672 3,936,672
Taxation and social security 1,590 1,590
Other creditors 1,059,346 1,059,346
4,997,608 4,997,608

X1 The Gateway Limited (Registered number: 08537655)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.