Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 12307143 Miss Zahra Tarjomani Miss Parisa Tarjomani Mr Matthew Milchard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12307143 2022-11-30 12307143 2023-11-30 12307143 2022-12-01 2023-11-30 12307143 frs-core:CurrentFinancialInstruments 2023-11-30 12307143 frs-core:Non-currentFinancialInstruments 2023-11-30 12307143 frs-core:FurnitureFittings 2023-11-30 12307143 frs-core:FurnitureFittings 2022-12-01 2023-11-30 12307143 frs-core:FurnitureFittings 2022-11-30 12307143 frs-core:ShareCapital 2023-11-30 12307143 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 12307143 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 12307143 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 12307143 frs-bus:SmallEntities 2022-12-01 2023-11-30 12307143 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 12307143 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 12307143 frs-bus:Director1 2022-12-01 2023-11-30 12307143 frs-bus:Director2 2022-12-01 2023-11-30 12307143 frs-bus:Director3 2022-12-01 2023-11-30 12307143 frs-countries:EnglandWales 2022-12-01 2023-11-30 12307143 2021-11-30 12307143 2022-11-30 12307143 2021-12-01 2022-11-30 12307143 frs-core:CurrentFinancialInstruments 2022-11-30 12307143 frs-core:Non-currentFinancialInstruments 2022-11-30 12307143 frs-core:ShareCapital 2022-11-30 12307143 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 12307143
Xmas World Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
MK Accountancy
160 Margate Road
Ramsgate
CT12 6AA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12307143
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,739 8,840
38,739 8,840
CURRENT ASSETS
Debtors 5 105,561 115,709
105,561 115,709
Creditors: Amounts Falling Due Within One Year 6 (48,196 ) (28,260 )
NET CURRENT ASSETS (LIABILITIES) 57,365 87,449
TOTAL ASSETS LESS CURRENT LIABILITIES 96,104 96,289
Creditors: Amounts Falling Due After More Than One Year 7 (7,253 ) (9,632 )
NET ASSETS 88,851 86,657
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 88,848 86,654
SHAREHOLDERS' FUNDS 88,851 86,657
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Milchard
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Xmas World Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12307143 . The registered office is Under 1 Roof Kids Thanet Ltd, Pysons Road, Ramsgate, CT12 6RL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2022 14,000
Additions 31,225
As at 30 November 2023 45,225
Depreciation
As at 1 December 2022 5,160
Provided during the period 1,326
As at 30 November 2023 6,486
Net Book Value
As at 30 November 2023 38,739
As at 1 December 2022 8,840
5. Debtors
2023 2022
£ £
Due within one year
Due after more than one year
Other debtors 105,561 115,709
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Bank loans and overdrafts 68 94
Corporation tax 20,185 10,357
Accruals and deferred income 564 8,028
Directors' loan accounts 27,380 9,781
48,196 28,260
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Government grants after one year 7,253 9,632
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
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