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REGISTERED NUMBER: 05994968 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 December 2023

for

X-One Wholesale Limited

X-One Wholesale Limited (Registered number: 05994968)

Contents of the Financial Statements
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


X-One Wholesale Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: M Edghill
S Thomson





SECRETARY: M Edghill





REGISTERED OFFICE: Unit 9 Ashford Industrial Estate
Shield Road
Ashford
Middlesesex
TW15 1AU





REGISTERED NUMBER: 05994968 (England and Wales)





ACCOUNTANTS: Hunt Ford & Co
Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN

X-One Wholesale Limited (Registered number: 05994968)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 557,977 467,996

CURRENT ASSETS
Debtors 5 823,696 1,061,514
Cash at bank and in hand 618,877 619,412
1,442,573 1,680,926
CREDITORS
Amounts falling due within one year 6 989,331 857,312
NET CURRENT ASSETS 453,242 823,614
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,011,219

1,291,610

CREDITORS
Amounts falling due after more than
one year

7

(268,395

)

(335,757

)

PROVISIONS FOR LIABILITIES 8 (129,781 ) -
NET ASSETS 613,043 955,853

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 612,943 955,753
613,043 955,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

X-One Wholesale Limited (Registered number: 05994968)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:




M Edghill - Director



S Thomson - Director


X-One Wholesale Limited (Registered number: 05994968)

Notes to the Financial Statements
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

X-One Wholesale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

X-One Wholesale Limited (Registered number: 05994968)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 644,161
Additions 330,740
Disposals (99,383 )
At 31 December 2023 875,518
DEPRECIATION
At 1 January 2023 176,165
Charge for year 190,385
Eliminated on disposal (49,009 )
At 31 December 2023 317,541
NET BOOK VALUE
At 31 December 2023 557,977
At 31 December 2022 467,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 780,467 1,006,488
Other debtors 43,229 55,026
823,696 1,061,514

X-One Wholesale Limited (Registered number: 05994968)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 12,938 11,311
Hire purchase contracts 96,248 -
Trade creditors 525,592 584,481
Taxation and social security 282,984 218,081
Other creditors 71,569 43,439
989,331 857,312

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans 24,951 34,167
Hire purchase contracts 243,444 301,590
268,395 335,757

8. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 129,781 -

Deferred
tax
£   
Provided during year 129,781
Balance at 31 December 2023 129,781

9. RESERVES
Retained
earnings
£   

At 1 January 2023 955,753
Profit for the year 774,619
Dividends (1,117,429 )
At 31 December 2023 612,943