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Registration number: 04122914

Xavia Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Xavia Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Xavia Developments Limited

Company Information

Director

Mrs Angela Malhotra

Company secretary

Mr Varun Malhotra

Registered office

8 Freetrade House
Lowther Road
Stanmore
Middx
HA7 1EP

Accountants

Paul & Co
8 Freetrade House
Lowther Road
Stanmore
Middx
HA7 1EP

 

Xavia Developments Limited

(Registration number: 04122914)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

68

91

Current assets

 

Debtors

5

1,516,364

1,510,764

Cash at bank and in hand

 

1,760

9,295

 

1,518,124

1,520,059

Creditors: Amounts falling due within one year

6

(72,890)

(76,736)

Net current assets

 

1,445,234

1,443,323

Net assets

 

1,445,302

1,443,414

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

1,444,302

1,442,414

Shareholders' funds

 

1,445,302

1,443,414

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2024
 

 

Xavia Developments Limited

(Registration number: 04122914)
Balance Sheet as at 31 December 2023

.........................................
Mrs Angela Malhotra
Director

 

Xavia Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
8 Freetrade House
Lowther Road
Stanmore
Middx
HA7 1EP
England

The principal place of business is:
2 Farrington Place
Batchworth Lane
Northwood
Middx
HA6 3SW
England

These financial statements were authorised for issue by the director on 26 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Xavia Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Xavia Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Xavia Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

602

602

At 31 December 2023

602

602

Depreciation

At 1 January 2023

511

511

Charge for the year

23

23

At 31 December 2023

534

534

Carrying amount

At 31 December 2023

68

68

At 31 December 2022

91

91

5

Debtors

Current

2023
£

2022
£

Other debtors

1,516,364

1,510,764

 

1,516,364

1,510,764

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

917

258

Accruals and deferred income

720

2,225

Other creditors

71,253

74,253

72,890

76,736

 

Xavia Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

8

Dividends

2023

2022

£

£

Final dividend of £1.00 (2022 - £2.00) per ordinary share

-

-

Interim dividend of £3.00 (2022 - £4.00) per ordinary share

2,000

-

2,000

-