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XHEDGE LIMITED

Registered Number
10561909
(England and Wales)

Unaudited Financial Statements for the Period ended
30 December 2023

XHEDGE LIMITED
Company Information
for the period from 1 January 2023 to 30 December 2023

Directors

Mr S Blake
Mrs M Blake

Registered Address

3 Coldbath Square
London
EC1R 5HL

Registered Number

10561909 (England and Wales)
XHEDGE LIMITED
Balance Sheet as at
30 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors43,2163,216
Cash at bank and on hand11168
3,2273,384
Creditors amounts falling due within one year5(45,524)(45,024)
Net current assets (liabilities)(42,297)(41,640)
Total assets less current liabilities(42,297)(41,640)
Net assets(42,297)(41,640)
Capital and reserves
Called up share capital100100
Profit and loss account(42,397)(41,740)
Shareholders' funds(42,297)(41,640)
The financial statements were approved and authorised for issue by the Board of Directors on 23 September 2024, and are signed on its behalf by:
Mr S Blake
Director
Registered Company No. 10561909
XHEDGE LIMITED
Notes to the Financial Statements
for the period ended 30 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The financial statements report the financial results only of the company and are presented in Sterling (£).
Statement of compliance
The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholder to fund its working capital requirement for a period of at least twelve months for the date these financial statements were approved.
Revenue from rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the Company will receive the consideration due under the contract; • the stage of completion of the contract at the end of the reporting period can be measured reliably; and • the costs incurred and the costs to complete the contract can be measured reliably.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the profit and loss account. Financial assets are derecognised when (i) the contractual rights to the cashflows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (iii) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees
The average number of employees include directors.

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 23169,511169,511
At 30 December 23169,511169,511
Amortisation and impairment
At 01 January 23169,511169,511
At 30 December 23169,511169,511
Net book value
At 30 December 23--
At 31 December 22--
4.Debtors: amounts due within one year

2023

2022

££
Other debtors3,2163,216
Total3,2163,216
5.Creditors: amounts due within one year

2023

2022

££
Other creditors45,52445,024
Total45,52445,024
6.Related party transactions
As at the balance sheet date, the company owed the directors of the company a total of £5,592 (2022: £5,592).