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COMPANY REGISTRATION NUMBER: NI637651
Xperience Group Management Limited
Filleted Financial Statements
31 December 2023
Xperience Group Management Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Xperience Group Management Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
2,400,000
2,400,000
Current assets
Debtors
5
10,654,633
7,278,821
Cash at bank and in hand
202,786
2,357,836
-------------
------------
10,857,419
9,636,657
Creditors: amounts falling due within one year
6
11,393,159
10,167,656
-------------
-------------
Net current liabilities
535,740
530,999
------------
------------
Total assets less current liabilities
1,864,260
1,869,001
------------
------------
Capital and reserves
Called up share capital
14,499
14,499
Share premium account
1,403,548
1,403,548
Profit and loss account
446,213
450,954
------------
------------
Shareholders funds
1,864,260
1,869,001
------------
------------
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 has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 26 June 2024 , and are signed on behalf of the board by:
Mr I O'Kane
Director
Company registration number: NI637651
Xperience Group Management 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 Northern Ireland. The address of the registered office is 11 Ferguson Drive, Lisburn, BT28 2EX, Northern Ireland.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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.
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
2,400,000
------------
Impairment
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
2,400,000
------------
At 31 December 2022
2,400,000
------------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
10,614,932
7,248,461
Other debtors
39,701
30,360
-------------
------------
10,654,633
7,278,821
-------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
11,393,159
10,167,656
-------------
-------------
7. Summary audit opinion
The auditor's report dated 26 June 2024 was unqualified .
The senior statutory auditor was Ms E Mulholland , for and on behalf of Johnston Graham Limited .
8. Controlling party
Since 14 December 2022, the ultimate parent company has been Accelerate Topco Limited, a company registered in England and Wales.