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Registration number: 12033999

Xenonbay Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Xenonbay Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

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

76 Canterbury Road
Croydon
Surrey
CR0 3HA

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Surrey
Croydon
CR0 3HA

 

Xenonbay Limited

(Registration number: 12033999)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

19,604

29,406

Other financial assets

5

-

2,510,673

 

19,604

2,540,079

Current assets

 

Debtors

6

22,028

100

Cash at bank and in hand

 

2,542,568

86,141

 

2,564,596

86,241

Creditors: Amounts falling due within one year

7

(19,746)

(23,818)

Net current assets

 

2,544,850

62,423

Total assets less current liabilities

 

2,564,454

2,602,502

Provisions for liabilities

(3,725)

(23,232)

Net assets

 

2,560,729

2,579,270

Capital and reserves

 

Called up share capital

100

100

Other reserves

-

(75,223)

Profit and Loss account

2,560,629

2,654,393

Shareholders' funds

 

2,560,729

2,579,270

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 29 August 2024 and signed on its behalf by:
 

 

Xenonbay Limited

(Registration number: 12033999)
Balance Sheet as at 30 November 2023

.........................................
Mr J Lewis
Director

 

Xenonbay Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
76 Canterbury Road
Croydon
Surrey
CR0 3HA
England

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

49,010

49,010

At 30 November 2023

49,010

49,010

Depreciation

At 1 December 2022

19,604

19,604

Charge for the year

9,802

9,802

At 30 November 2023

29,406

29,406

Carrying amount

At 30 November 2023

19,604

19,604

At 30 November 2022

29,406

29,406

5

Other financial assets

Listed investments
£

Total
£

Non-current financial assets

Cost or valuation

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

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

6

Debtors

2023
£

2022
£

Accrued income

21,928

-

Other debtors

100

100

22,028

100

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

1,080

Taxation and social security

15

950

Accruals and deferred income

2,880

2,880

Other creditors

1,993

4,050

Directors current account

14,858

14,858

19,746

23,818

8

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)