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REGISTERED NUMBER: 07761792 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

X-Vat Ltd

X-Vat Ltd (Registered number: 07761792)






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


X-Vat Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr M C Kaney





REGISTERED OFFICE: C/O Haines Watts Chester
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 07761792 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

X-Vat Ltd (Registered number: 07761792)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,452 -

CURRENT ASSETS
Debtors 5 61,454 55,072
Cash at bank 2,337 4,974
63,791 60,046
CREDITORS
Amounts falling due within one year 6 57,516 48,574
NET CURRENT ASSETS 6,275 11,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,727

11,472

CREDITORS
Amounts falling due after more than one
year

7

6,488

10,888
NET ASSETS 1,239 584

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,139 484
SHAREHOLDERS' FUNDS 1,239 584

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 director acknowledges his 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.

X-Vat Ltd (Registered number: 07761792)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr M C Kaney - Director


X-Vat Ltd (Registered number: 07761792)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

X-Vat 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue 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.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

X-Vat Ltd (Registered number: 07761792)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
Additions 2,167
At 31 December 2023 2,167
DEPRECIATION
Charge for year 715
At 31 December 2023 715
NET BOOK VALUE
At 31 December 2023 1,452

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 14,385 2,340
Other debtors 47,069 52,732
61,454 55,072

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 17,562 4,400
Trade creditors 584 -
Taxation and social security 38,870 43,674
Other creditors 500 500
57,516 48,574

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 6,488 10,888

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
IWOCA 13,162 -

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £30,500 (2022 - £29,000) were paid to the director .

X-Vat Ltd (Registered number: 07761792)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES - continued

As at 31 December 2023 a director of the company owed £39,274 (2022 - £45,596) to the company in respect of an interest free loan, which is repayable on demand.