Registered number
08876518
Xtech Electrical Ltd
Filleted Accounts
29 February 2024
Xtech Electrical Ltd
Registered number: 08876518
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 339 466
Current assets
Debtors 4 12,129 9,349
Cash at bank and in hand 30,848 19,996
42,977 29,345
Creditors: amounts falling due within one year 5 (9,252) (8,504)
Net current assets 33,725 20,841
Total assets less current liabilities 34,064 21,307
Provisions for liabilities (65) (89)
Net assets 33,999 21,218
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,899 21,118
Shareholders' funds 33,999 21,218
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Radoslaw Pyzik
Director
Approved by the board on 27 August 2024
Xtech Electrical Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
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. 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. Current and deferred tax 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 10,645
At 29 February 2024 10,645
Depreciation
At 1 March 2023 10,179
Charge for the year 127
At 29 February 2024 10,306
Net book value
At 29 February 2024 339
At 28 February 2023 466
4 Debtors 2024 2023
£ £
Trade debtors 2,268 586
Other debtors, excess recoverable CIS 9,861 8,763
12,129 9,349
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,234 1,265
Taxation and social security costs 8,018 7,239
9,252 8,504
6 Other information
Xtech Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
41 Trewenna Drive
Potters Bar
Hertfordshire
EN6 5JW
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