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REGISTERED NUMBER: 03274123 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

GXI Ltd

GXI Ltd (Registered number: 03274123)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GXI Ltd

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr A L Halai
Mr J Vekaria





SECRETARY: Mr J Vekaria





REGISTERED OFFICE: Maple House
382 Kenton Road
Kenton
Harrow
Middlesex
HA3 9DP





REGISTERED NUMBER: 03274123 (England and Wales)





ACCOUNTANTS: KBMD Limited
Chartered Certified Accountants
Maple House
382 Kenton Road
Harrow
Middlesex
HA3 9DP

GXI Ltd (Registered number: 03274123)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
FIXED ASSETS
Tangible assets 4 15,302 15,398

CURRENT ASSETS
Stocks 5 13,800 12,750
Debtors 6 58,803 66,681
Cash at bank 503,121 531,567
575,724 610,998
CREDITORS
Amounts falling due within one year 7 (312,711 ) (314,528 )
NET CURRENT ASSETS 263,013 296,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,315

311,868

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 277,315 310,868
SHAREHOLDERS' FUNDS 278,315 311,868

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.

GXI Ltd (Registered number: 03274123)

Balance Sheet - 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 12 July 2024 and were signed on its behalf by:




Mr J Vekaria - Director



Mr A L Halai - Director


GXI Ltd (Registered number: 03274123)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

GXI 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GXI Ltd (Registered number: 03274123)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 January 2023 109,326 60,179 169,505
Additions 1,777 1,416 3,193
At 31 December 2023 111,103 61,595 172,698
DEPRECIATION
At 1 January 2023 97,514 56,593 154,107
Charge for year 2,038 1,251 3,289
At 31 December 2023 99,552 57,844 157,396
NET BOOK VALUE
At 31 December 2023 11,551 3,751 15,302
At 31 December 2022 11,812 3,586 15,398

5. STOCKS
31.12.23 31.12.22
£ £
Work-in-progress 13,800 12,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 45,928 64,968
Other loans 11,202 1,202
Prepayments 1,673 511
58,803 66,681

GXI Ltd (Registered number: 03274123)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade creditors 212,265 207,906
Tax 11,648 12,772
Social security and other taxes 6,883 1,848
VAT 61,729 70,774
Credit cards 15,647 11,666
Directors' current accounts 4,539 9,562
312,711 314,528