Registered number
04251641
XANADU TEC LIMITED
Filleted Accounts
30 November 2023
XANADU TEC LIMITED
Registered number: 04251641
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,291 5,233
Current assets
Stocks - 58,939
Debtors 4 439,926 466,087
Cash at bank and in hand 282,732 290,946
722,658 815,972
Creditors: amounts falling due within one year 5 (566,473) (566,615)
Net current assets 156,185 249,357
Total assets less current liabilities 163,476 254,590
Provisions for liabilities (1,308) (1,308)
Net assets 162,168 253,282
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 161,168 252,282
Shareholder's funds 162,168 253,282
The director is 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 director acknowledges his 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.
Rohit Dhawan
Director
Approved by the board on 13 August 2024
XANADU TEC LIMITED
Notes to the Accounts
for the year ended 30 November 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 24,125
Additions 4,488
At 30 November 2023 28,613
Depreciation
At 1 December 2022 18,892
Charge for the year 2,430
At 30 November 2023 21,322
Net book value
At 30 November 2023 7,291
At 30 November 2022 5,233
4 Debtors 2023 2022
£ £
Trade debtors 286,868 315,597
Amounts owed by group undertakings and undertakings in which the company has a participating interest 56,757 64,189
Other debtors 96,301 86,301
439,926 466,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 170,934 249,718
Trade creditors 120,469 65,860
Taxation and social security costs 254,239 243,007
Other creditors 708 7,836
Director's loan account 20,123 194
566,473 566,615
6 Related party transactions 2022 2021
£ £
Rohit Dhawan
Director of the company
Dividends paid of: 550,000 1,262,000
Amount due to the director of: 20,123 194
Check An Invoice Limited
Parent company
Dividends paid of: - -
Included within balance due from ground undertakings is an amount receivable of: 56,757 -
Coreflex Solutions Limited
Common director
During the period Xanadu Tec Limited provided services of: 265,201 -
Included within trade debtor is an amount receivable of: 60,676 -
7 Controlling party
At the date of the balance sheet, the company was under the control of Check An Invoice Limited, a company incorporated in England and Wales.
8 Other information
XANADU TEC LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
91 Delamere Road
Ealing
London
W5 3JP
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