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REGISTERED NUMBER: 11164881 (England and Wales)















IXC UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






IXC UK LIMITED (REGISTERED NUMBER: 11164881)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


IXC UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs C T Bishop
T Staniland
Dr R Hamilton



REGISTERED OFFICE: 4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR



REGISTERED NUMBER: 11164881 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Lloyds Bank Plc
1 Legg St
Chelmsford
Essex
CM1 1JS

IXC UK LIMITED (REGISTERED NUMBER: 11164881)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,751 79,298
Tangible assets 5 - 487
36,751 79,785

CURRENT ASSETS
Debtors 6 24,461 15,176
Cash at bank 15,094 15,236
39,555 30,412
CREDITORS
Amounts falling due within one year 7 25,822 44,722
NET CURRENT ASSETS/(LIABILITIES) 13,733 (14,310 )
TOTAL ASSETS LESS CURRENT LIABILITIES 50,484 65,475

CREDITORS
Amounts falling due after more than one year 8 21,237 25,317
NET ASSETS 29,247 40,158

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Retained earnings 9,247 20,158
SHAREHOLDERS' FUNDS 29,247 40,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:




T Staniland - Director


IXC UK LIMITED (REGISTERED NUMBER: 11164881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

IXC UK Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Patents and licences will be amortised evenly over their estimated useful life of five years once they are brought into use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Tangible assets are held at cost less depreciation.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


IXC UK LIMITED (REGISTERED NUMBER: 11164881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 17,000 166,756 183,756
AMORTISATION
At 1 April 2023 8,747 95,711 104,458
Charge for year 4,853 37,694 42,547
At 31 March 2024 13,600 133,405 147,005
NET BOOK VALUE
At 31 March 2024 3,400 33,351 36,751
At 31 March 2023 8,253 71,045 79,298

IXC UK LIMITED (REGISTERED NUMBER: 11164881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 799
DEPRECIATION
At 1 April 2023 312
Charge for year 487
At 31 March 2024 799
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 487

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 23,966 14,573
Other debtors 495 603
24,461 15,176

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,401 358
Trade creditors 181 3,311
Taxation and social security 9,225 6,945
Other creditors 12,015 34,108
25,822 44,722

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 21,237 25,317

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
20,000 Ordinary £1 20,000 20,000

10. RELATED PARTY DISCLOSURES

The director has provided the business with an interest free loan totalling £4,990 (2023: £4,990)