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Company Registration No. 11969394 (England and Wales)
Xcap Ecosystem Ltd Unaudited accounts for the year ended 31 December 2023
Xcap Ecosystem Ltd Unaudited accounts Contents
Page
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Xcap Ecosystem Ltd Company Information for the year ended 31 December 2023
Directors
Amihay Ben David Alon Aviad Goren Rami Kasterstein Scott Andrew Lucas Nadav Zohar Itay Tuchman Kai Kresten Sakstrup
Company Number
11969394 (England and Wales)
Accountants
CFPro Limited 330 High Holborn Holborn Gate London WC1V 7QH
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Xcap Ecosystem Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,989 
3,483 
Investments
5 
5 
7,994 
3,488 
Current assets
Debtors
301,160 
525,426 
Cash at bank and in hand
9,411,874 
10,730,782 
9,713,034 
11,256,208 
Creditors: amounts falling due within one year
(399,808)
(93,771)
Net current assets
9,313,226 
11,162,437 
Net assets
9,321,220 
11,165,925 
Capital and reserves
Called up share capital
3 
2 
Share premium
18,103,352 
14,780,579 
Profit and loss account
(8,782,135)
(3,614,656)
Shareholders' funds
9,321,220 
11,165,925 
For the year ending 31 December 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2024 and were signed on its behalf by
Amihay Ben David Director Company Registration No. 11969394
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Xcap Ecosystem Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Xcap Ecosystem Ltd is a private company, limited by shares, registered in England and Wales, registration number 11969394.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% straight line
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fixed asset investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The Company has therefore not prepared group accounts.
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Xcap Ecosystem Ltd Notes to the Accounts for the year ended 31 December 2023
Research and development
Expenditure on research is written off in the year in which it is incurred and expenditure on development that meets the criteria for recognition as an asset is capitalised.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
3,725 
Additions
5,837 
At 31 December 2023
9,562 
Depreciation
At 1 January 2023
242 
Charge for the year
1,331 
At 31 December 2023
1,573 
Net book value
At 31 December 2023
7,989 
At 31 December 2022
3,483 
5
Transactions with related parties
The Company has taken advantage of the exemption available under paragraph 33.1A of Financial Reporting Standard 102 not to disclose transactions with other wholly owned members of the group.
6
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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