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REGISTERED NUMBER: 12526921 (England and Wales)















Xav-Eight Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Xav-Eight Ltd (Registered number: 12526921)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Xav-Eight Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Ridout
M W Jones
E J Ridout





REGISTERED OFFICE: 4 & 5 Ty Verlon Industrial Estate
Barry
Vale of Glamorgan
CF63 2BE





REGISTERED NUMBER: 12526921 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Xav-Eight Ltd (Registered number: 12526921)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,319 2,076
Tangible assets 5 152,880 148,105
154,199 150,181

CURRENT ASSETS
Debtors 6 372,306 252,279
Cash at bank 351,662 290,399
723,968 542,678
CREDITORS
Amounts falling due within one year 7 512,962 313,539
NET CURRENT ASSETS 211,006 229,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,205

379,320

PROVISIONS FOR LIABILITIES 8 38,220 15,560
NET ASSETS 326,985 363,760

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 326,885 363,660
SHAREHOLDERS' FUNDS 326,985 363,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 4 October 2024 and were signed on its behalf by:





S J Ridout - Director


Xav-Eight Ltd (Registered number: 12526921)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Xav-Eight Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 15% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Xav-Eight Ltd (Registered number: 12526921)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 3,000 1,100 4,100
AMORTISATION
At 1 April 2023 1,600 424 2,024
Charge for year 600 157 757
At 31 March 2024 2,200 581 2,781
NET BOOK VALUE
At 31 March 2024 800 519 1,319
At 31 March 2023 1,400 676 2,076

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 181,998 525 182,523
Additions 56,772 - 56,772
Disposals - (525 ) (525 )
At 31 March 2024 238,770 - 238,770
DEPRECIATION
At 1 April 2023 34,180 238 34,418
Charge for year 51,710 79 51,789
Eliminated on disposal - (317 ) (317 )
At 31 March 2024 85,890 - 85,890
NET BOOK VALUE
At 31 March 2024 152,880 - 152,880
At 31 March 2023 147,818 287 148,105

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 272,578 194,801
Other debtors 99,728 57,478
372,306 252,279

Xav-Eight Ltd (Registered number: 12526921)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 382,241 233,180
Taxation and social security 61,560 77,029
Other creditors 69,161 3,330
512,962 313,539

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 38,220 15,560

Deferred
tax
£   
Balance at 1 April 2023 15,560
Charge to Income Statement during year 22,660
Balance at 31 March 2024 38,220

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the start of the year the Directors were overdrawn by £44,837 (2023: £60,598). During the year drawings of £89,017 (2023: £75,992) were taken and repayments of £82,000 (2023: £91,753) were made. At the year end the closing overdrawn balance was £51,854 (2023: £44,837).