Registration number:
Xenonbay Limited
for the Year Ended 30 November 2023
Xenonbay Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Xenonbay Limited
Company Information
Directors |
Miss M K M Lewis Mr M E B Lewis Miss G J B Lewis Mrs K Lewis Mr J Lewis |
Company secretary |
Mr M E B Lewis |
Registered office |
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Accountants |
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Xenonbay Limited
(Registration number: 12033999)
Balance Sheet as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
- |
2,510,673 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
- |
( |
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Profit and Loss account |
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Shareholders' funds |
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For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Xenonbay Limited
(Registration number: 12033999)
Balance Sheet as at 30 November 2023
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Xenonbay Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Pound Sterling, which is the functional currency of the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the
ordinary course of the company’s activities.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Xenonbay Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised
as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
20% Straight line |
Investments
Investments are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairement until a reliable measure of fair value becomes available.
If a reliable measure of fair is no longer available, the equity instrument's fair value on the last date the instrument was reliably measured is treated as the cost of the instrument.
Interest income in debt securities, where applicable, is recognised in income when receivable. Dividends on equity securities are recognised in income when receivable.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Xenonbay Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Other financial assets |
Listed investments |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 December 2022 |
2,510,673 |
2,510,673 |
Additions |
44,232 |
44,232 |
Fair value adjustments |
82,630 |
82,630 |
Disposals |
(2,637,535) |
(2,637,535) |
At 30 November 2023 |
- |
- |
Carrying amount |
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At 30 November 2023 |
- |
- |
The historic cost of the listed investments is £Nil (2022 - £2,603,540)
Xenonbay Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Debtors |
2023 |
2022 |
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Accrued income |
21,928 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Directors current account |
14,858 |
14,858 |
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Related party transactions |
Other transactions with directors |
Mr J Lewis (Director)
The amount owed to the director above is interest free and has been included within the Director current account balance.
At the balance sheet date the amount due to the director was £14,858 (2022 - £14,858)