Company Registration No. 13224509 (England and Wales)
XD Properties Limited
Unaudited accounts
for the year ended 31 March 2024
XD Properties Limited
Unaudited accounts
Contents
XD Properties Limited
Company Information
for the year ended 31 March 2024
Directors
Mr Dawid Gorny
Mrs Xiaowen Pan
Company Number
13224509 (England and Wales)
Registered Office
30 Granby Way
Wootton
Bedford
Bedfordshire
MK43 9FP
Accountants
Advanced Tax Solutions Ltd t/a Tax Made Easy
Unit 24, King Street Buildings
Enderby
Leicester
Leicestershire
LE19 4NT
XD Properties Limited
Statement of financial position
as at 31 March 2024
Investment property
173,795
173,795
Cash at bank and in hand
4,578
1,762
Creditors: amounts falling due within one year
(58,022)
(55,143)
Net current liabilities
(51,435)
(52,448)
Total assets less current liabilities
122,360
121,347
Creditors: amounts falling due after more than one year
(129,739)
(124,980)
Net liabilities
(7,379)
(3,633)
Called up share capital
100
100
Profit and loss account
(7,479)
(3,733)
Shareholders' funds
(7,379)
(3,633)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by
Mr Dawid Gorny
Director
Company Registration No. 13224509
XD Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
XD Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 13224509. The registered office is 30 Granby Way, Wootton, Bedford, Bedfordshire, MK43 9FP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The directors have a reasonable expectation that the company has adequate resources to continue is operational existence for the foreseeable future. Thus they adopt the going concern basis in the preparation of the annual financial statements.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 April 2023
173,795
XD Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Deferred tax asset
1,805
933
Amounts falling due after more than one year
Accrued income and prepayments
204
-
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
57,522
54,643
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
129,739
124,980
Aggregate of amounts that fall due for payment after five years
-
124,980
There is a mortgage of £124,980 secure on the investment property.
8
Deferred taxation
2024
2023
Tax losses carried forward
(1,805)
(933)
Provision at start of year
(933)
-
Credited to the profit and loss account
(872)
(933)
Provision at end of year
(1,805)
(933)
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).