15 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 10,000 8,167 1,833 10,000 1,833 xbrli:pure xbrli:shares iso4217:GBP 05152313 2023-01-01 2023-12-31 05152313 2023-12-31 05152313 2022-12-31 05152313 2022-01-01 2022-12-31 05152313 2022-12-31 05152313 core:PlantMachinery 2023-01-01 2023-12-31 05152313 bus:Director3 2023-01-01 2023-12-31 05152313 core:PlantMachinery 2022-12-31 05152313 core:PlantMachinery 2023-12-31 05152313 core:WithinOneYear 2023-12-31 05152313 core:WithinOneYear 2022-12-31 05152313 core:AfterOneYear 2023-12-31 05152313 core:AfterOneYear 2022-12-31 05152313 core:ShareCapital 2023-12-31 05152313 core:ShareCapital 2022-12-31 05152313 core:SharePremium 2023-12-31 05152313 core:SharePremium 2022-12-31 05152313 core:RetainedEarningsAccumulatedLosses 2023-12-31 05152313 core:RetainedEarningsAccumulatedLosses 2022-12-31 05152313 core:PlantMachinery 2022-12-31 05152313 bus:SmallEntities 2023-01-01 2023-12-31 05152313 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05152313 bus:FullAccounts 2023-01-01 2023-12-31 05152313 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05152313 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05152313 core:CustomerRelationships 2023-01-01 2023-12-31 05152313 core:OfficeEquipment 2023-01-01 2023-12-31 05152313 core:CustomerRelationships 2023-12-31 05152313 core:CustomerRelationships 2022-12-31 05152313 core:OfficeEquipment 2022-12-31 05152313 core:OfficeEquipment 2023-12-31 05152313 core:AfterOneYear 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 05152313
Xentum Limited
Filleted Unaudited Financial Statements
31 December 2023
Xentum Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible Assets
5
1,833
Tangible assets
6
8,224
9,633
-------
--------
8,224
11,466
Current assets
Stocks
91,000
67,000
Debtors
7
161,543
201,383
Cash at bank and in hand
73,341
117,395
---------
---------
325,884
385,778
Creditors: amounts falling due within one year
8
171,058
148,827
---------
---------
Net current assets
154,826
236,951
---------
---------
Total assets less current liabilities
163,050
248,417
Creditors: amounts falling due after more than one year
9
144,081
133,426
---------
---------
Net assets
18,969
114,991
---------
---------
Capital and reserves
Called up share capital
100,106
100,106
Share premium account
14,738
14,738
Profit and loss account
( 95,875)
147
---------
---------
Shareholders funds
18,969
114,991
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Xentum Limited
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr J Spencer
Director
Company registration number: 05152313
Xentum Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Moss Wood, Seven Sisters Lane, Toft, Knutsford, Cheshire, WA16 8TH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no material judgements, estimates or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Customer client banks
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2022: 14 ).
5. Intangible assets
Customer client banks
£
Cost
At 1 January 2023 and 31 December 2023
10,000
--------
Amortisation
At 1 January 2023
8,167
Charge for the year
1,833
--------
At 31 December 2023
10,000
--------
Carrying amount
At 31 December 2023
--------
At 31 December 2022
1,833
--------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 January 2023
40,303
20,918
61,221
Additions
4,924
4,924
--------
--------
--------
At 31 December 2023
40,303
25,842
66,145
--------
--------
--------
Depreciation
At 1 January 2023
38,395
13,193
51,588
Charge for the year
1,908
4,425
6,333
--------
--------
--------
At 31 December 2023
40,303
17,618
57,921
--------
--------
--------
Carrying amount
At 31 December 2023
8,224
8,224
--------
--------
--------
At 31 December 2022
1,908
7,725
9,633
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
129,271
146,773
Other debtors
32,272
54,610
---------
---------
161,543
201,383
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
55,556
55,556
Trade creditors
13,389
9,000
Corporation tax
9,493
Social security and other taxes
64,985
35,510
Other creditors
37,128
39,268
---------
---------
171,058
148,827
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
94,081
133,426
Other creditors
50,000
---------
---------
144,081
133,426
---------
---------
During 2021, a CBILS loan of £250,000 was advanced to the company, secured by a debenture. Interest is charged at 2.5% and 60 repayments commenced November 2021. As at 31 December 2023, £149,636 is outstanding in respect of this loan, of which £94,081 will not be repaid before 31 December 2024 and is shown within amounts due after more than 1 year.
10. Directors' advances, credits and guarantees
During the year, the director, Mr Baldwin, advanced a further £50,000 to the company in respect of his loan. As at 31 December 2023 £84,128 (2022 £34,128) was owed to him and the directors expect to repay £34,128 before 31 December 2024 and £50,000 after this date.