Xlio Ventures Limited |
Registered number: |
12138615 |
Balance Sheet |
as at 31 August 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,396 |
|
|
2,793 |
|
Current assets |
Debtors |
4 |
|
1,384,946 |
|
|
818,735 |
Cash at bank and in hand |
|
|
182,570 |
|
|
498,184 |
|
|
|
1,567,516 |
|
|
1,316,919 |
|
Creditors: amounts falling due within one year |
5 |
|
(16,478) |
|
|
(12,523) |
|
Net current assets |
|
|
|
1,551,038 |
|
|
1,304,396 |
|
Total assets less current liabilities |
|
|
|
1,552,434 |
|
|
1,307,189 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(3,343,604) |
|
|
(2,878,722) |
|
|
|
Net liabilities |
|
|
|
(1,791,170) |
|
|
(1,571,533) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(1,791,171) |
|
|
(1,571,534) |
|
Shareholder's funds |
|
|
|
(1,791,170) |
|
|
(1,571,533) |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
|
|
|
|
Gary N Berg |
Director |
Approved by the board on 19 August 2024 |
|
Xlio Ventures Limited |
Notes to the Accounts |
for the year ended 31 August 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). |
|
|
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 3 years |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 September 2022 |
4,190 |
|
At 31 August 2023 |
4,190 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2022 |
1,397 |
|
Charge for the year |
1,397 |
|
At 31 August 2023 |
2,794 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2023 |
1,396 |
|
At 31 August 2022 |
2,793 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Prepayments |
|
|
|
|
27,996 |
|
27,283 |
|
Other debtors |
1,356,950 |
|
791,452 |
|
|
|
|
|
|
1,384,946 |
|
818,735 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Trade creditors |
6,079 |
|
1,046 |
|
Taxation and social security costs |
- |
|
1,027 |
|
Other creditors |
10,399 |
|
10,450 |
|
|
|
|
|
|
16,478 |
|
12,523 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Loans from related companies |
|
3,343,604 |
|
2,878,722 |
|
|
|
|
|
|
|
|
|
|
7 |
Going Concern |
|
|
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existance for the forseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements. |
|
|
8 |
Related party transactions |
|
|
At the balance sheet date there is a balance due to the shareholder Whisper Creek Limited Partnership of £3,343,604 (2022:£2,878722). Interest is charged on the loan principal based on the U.S long-term federal rate. |
|
|
9 |
Other information |
|
|
Xlio Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
167 - 169 Great Portland Street |
|
London |
|
England |
|
W1W 5PF |