2023-04-012024-03-312024-03-31false13293744Xonai Ltd2024-10-02iso4217:GBPxbrli:pure132937442023-04-01132937442024-03-31132937442023-04-012024-03-31132937442022-04-01132937442023-03-31132937442022-04-012023-03-3113293744bus:SmallEntities2023-04-012024-03-3113293744bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3113293744bus:FullAccounts2023-04-012024-03-3113293744bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113293744core:WithinOneYear2024-03-3113293744core:AfterOneYear2024-03-3113293744core:WithinOneYear2023-03-3113293744core:AfterOneYear2023-03-3113293744core:ShareCapital2024-03-3113293744core:SharePremium2024-03-3113293744core:RevaluationReserve2024-03-3113293744core:OtherReservesSubtotal2024-03-3113293744core:RetainedEarningsAccumulatedLosses2024-03-3113293744core:ShareCapital2023-03-3113293744core:SharePremium2023-03-3113293744core:RevaluationReserve2023-03-3113293744core:OtherReservesSubtotal2023-03-3113293744core:RetainedEarningsAccumulatedLosses2023-03-3113293744core:LandBuildings2024-03-3113293744core:PlantMachinery2024-03-3113293744core:Vehicles2024-03-3113293744core:FurnitureFittings2024-03-3113293744core:OfficeEquipment2024-03-3113293744core:NetGoodwill2024-03-3113293744core:IntangibleAssetsOtherThanGoodwill2024-03-3113293744core:ListedExchangeTraded2024-03-3113293744core:UnlistedNon-exchangeTraded2024-03-3113293744core:LandBuildings2023-03-3113293744core:PlantMachinery2023-03-3113293744core:Vehicles2023-03-3113293744core:FurnitureFittings2023-03-3113293744core:OfficeEquipment2023-03-3113293744core:NetGoodwill2023-03-3113293744core:IntangibleAssetsOtherThanGoodwill2023-03-3113293744core:ListedExchangeTraded2023-03-3113293744core:UnlistedNon-exchangeTraded2023-03-3113293744core:LandBuildings2023-04-012024-03-3113293744core:PlantMachinery2023-04-012024-03-3113293744core:Vehicles2023-04-012024-03-3113293744core:FurnitureFittings2023-04-012024-03-3113293744core:OfficeEquipment2023-04-012024-03-3113293744core:NetGoodwill2023-04-012024-03-3113293744core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113293744core:ListedExchangeTraded2023-04-012024-03-3113293744core:UnlistedNon-exchangeTraded2023-04-012024-03-3113293744core:MoreThanFiveYears2023-04-012024-03-3113293744core:Non-currentFinancialInstruments2024-03-3113293744core:Non-currentFinancialInstruments2023-03-3113293744dpl:CostSales2023-04-012024-03-3113293744dpl:DistributionCosts2023-04-012024-03-3113293744core:LandBuildings2023-04-012024-03-3113293744core:PlantMachinery2023-04-012024-03-3113293744core:Vehicles2023-04-012024-03-3113293744core:FurnitureFittings2023-04-012024-03-3113293744core:OfficeEquipment2023-04-012024-03-3113293744dpl:AdministrativeExpenses2023-04-012024-03-3113293744core:NetGoodwill2023-04-012024-03-3113293744core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113293744dpl:GroupUndertakings2023-04-012024-03-3113293744dpl:ParticipatingInterests2023-04-012024-03-3113293744dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3113293744core:ListedExchangeTraded2023-04-012024-03-3113293744dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3113293744core:UnlistedNon-exchangeTraded2023-04-012024-03-3113293744dpl:CostSales2022-04-012023-03-3113293744dpl:DistributionCosts2022-04-012023-03-3113293744core:LandBuildings2022-04-012023-03-3113293744core:PlantMachinery2022-04-012023-03-3113293744core:Vehicles2022-04-012023-03-3113293744core:FurnitureFittings2022-04-012023-03-3113293744core:OfficeEquipment2022-04-012023-03-3113293744dpl:AdministrativeExpenses2022-04-012023-03-3113293744core:NetGoodwill2022-04-012023-03-3113293744core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3113293744dpl:GroupUndertakings2022-04-012023-03-3113293744dpl:ParticipatingInterests2022-04-012023-03-3113293744dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3113293744core:ListedExchangeTraded2022-04-012023-03-3113293744dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3113293744core:UnlistedNon-exchangeTraded2022-04-012023-03-3113293744core:NetGoodwill2024-03-3113293744core:IntangibleAssetsOtherThanGoodwill2024-03-3113293744core:LandBuildings2024-03-3113293744core:PlantMachinery2024-03-3113293744core:Vehicles2024-03-3113293744core:FurnitureFittings2024-03-3113293744core:OfficeEquipment2024-03-3113293744core:AfterOneYear2024-03-3113293744core:WithinOneYear2024-03-3113293744core:ListedExchangeTraded2024-03-3113293744core:UnlistedNon-exchangeTraded2024-03-3113293744core:ShareCapital2024-03-3113293744core:SharePremium2024-03-3113293744core:RevaluationReserve2024-03-3113293744core:OtherReservesSubtotal2024-03-3113293744core:RetainedEarningsAccumulatedLosses2024-03-3113293744core:NetGoodwill2023-03-3113293744core:IntangibleAssetsOtherThanGoodwill2023-03-3113293744core:LandBuildings2023-03-3113293744core:PlantMachinery2023-03-3113293744core:Vehicles2023-03-3113293744core:FurnitureFittings2023-03-3113293744core:OfficeEquipment2023-03-3113293744core:AfterOneYear2023-03-3113293744core:WithinOneYear2023-03-3113293744core:ListedExchange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Xonai Ltd

Registered Number
13293744
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Xonai Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

A Lotfi
L F Pereira Pinto Vaz
G York

Registered Address

86-90 Paul Street
London
EC2A 4NE

Registered Number

13293744 (England and Wales)
Xonai Ltd
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3119136
Tangible assets412,27914,377
12,39814,513
Current assets
Debtors5147,703132,289
Cash at bank and on hand1,007,6807,723
1,155,383140,012
Creditors amounts falling due within one year6(23,498)(13,683)
Net current assets (liabilities)1,131,885126,329
Total assets less current liabilities1,144,283140,842
Net assets1,144,283140,842
Capital and reserves
Called up share capital211129
Share premium2,536,111249,871
Other reserves-545,000
Profit and loss account(1,392,039)(654,158)
Shareholders' funds1,144,283140,842
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2024, and are signed on its behalf by:
L F Pereira Pinto Vaz
Director
Registered Company No. 13293744
Xonai Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

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.
Statement of compliance
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.
Basis of preparation
The financial statements have been prepared under the historical cost conversion.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company's functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on a going concern basis. The company incurred trading losses during the year. The directors, however, believe the company has sufficient resources to meet its obligations, if and when, they become due and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income Statement.
Current taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the statement of financial position date. Tax credits shown on the income statement represent tax credits received or receivable from HMRC as a result of claims made under HMRC’s R&D tax relief schemes.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets comprising capitalised Trademarks are initially measured at cost. After initial recognition, Trademarks are measured at cost less any accumulated amortisation and any accumulated impairment losses. Trademarks are amortised over their useful life of 10 years.
Research and development
Revenue expenditure on research and development is written off in the period in which it is incurred. The company makes claims under both the SME R&D tax relief scheme and the Research and Development Expenditure Credit scheme. Tax credits arising from claims under the SME R&D tax relief scheme are reflected 'below the line' as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit. Tax credits arising from claims under the RDEC scheme are subject to Corporation Tax. Gross tax credits are therefore reflected ‘above the line’ in Other Income with the corresponding charge to Corporation Tax reflected in the Corporation Tax charge, or credit (if loss making). Tax credits receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.
Tangible fixed assets and depreciation
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Office Equipment3
Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Cash and cash equivalents comprise cash on hand and demand 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 to changes in value.
2.Average number of employees

20242023
Average number of employees during the year63
3.Intangible assets
Other intangible assets consist of capitalised Trademark costs.

Other

Total

££
Cost or valuation
At 01 April 23170170
At 31 March 24170170
Amortisation and impairment
At 01 April 233434
Charge for year1717
At 31 March 245151
Net book value
At 31 March 24119119
At 31 March 23136136
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2317,49617,496
Additions4,9784,978
At 31 March 2422,47422,474
Depreciation and impairment
At 01 April 233,1193,119
Charge for year7,0767,076
At 31 March 2410,19510,195
Net book value
At 31 March 2412,27912,279
At 31 March 2314,37714,377
5.Debtors: amounts due within one year

2024

2023

££
Other debtors138,942121,208
Prepayments and accrued income8,76111,081
Total147,703132,289
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4722,913
Taxation and social security14,99910,770
Other creditors3,033-
Accrued liabilities and deferred income4,994-
Total23,49813,683