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XCZ Development Ltd

Unaudited Financial Statements for the Year Ended 30 November 2023






XCZ Development Ltd (Registered number: 11080637)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XCZ Development Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: X Zhou





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 11080637 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

XCZ Development Ltd (Registered number: 11080637)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 49,462 28,418
Tangible assets 5 252,750 173,372
302,212 201,790

CURRENT ASSETS
Stocks 22,955 45,533
Debtors 6 210,088 24,821
Cash at bank and in hand 282,285 49,915
515,328 120,269
CREDITORS
Amounts falling due within one year 7 545,924 46,508
NET CURRENT (LIABILITIES)/ASSETS (30,596 ) 73,761
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,616

275,551

CREDITORS
Amounts falling due after more than one
year

8

35,869

237,679
NET ASSETS 235,747 37,872

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 235,647 37,772
235,747 37,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

XCZ Development Ltd (Registered number: 11080637)

Balance Sheet - continued
30 November 2023


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 director and authorised for issue on 29 July 2024 and were signed by:





X Zhou - Director


XCZ Development Ltd (Registered number: 11080637)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

XCZ Development 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% straight line
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

XCZ Development Ltd (Registered number: 11080637)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022 35,523
Additions 31,276
At 30 November 2023 66,799
AMORTISATION
At 1 December 2022 7,105
Charge for year 10,232
At 30 November 2023 17,337
NET BOOK VALUE
At 30 November 2023 49,462
At 30 November 2022 28,418

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 11,943 233,432 245,375
Additions - 120,026 120,026
At 30 November 2023 11,943 353,458 365,401
DEPRECIATION
At 1 December 2022 3,583 68,420 72,003
Charge for year 1,194 39,454 40,648
At 30 November 2023 4,777 107,874 112,651
NET BOOK VALUE
At 30 November 2023 7,166 245,584 252,750
At 30 November 2022 8,360 165,012 173,372

XCZ Development Ltd (Registered number: 11080637)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 210,088 24,821

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,521 8,783
Trade creditors 988 15,669
Taxation and social security 81,660 3,497
Other creditors 456,755 18,559
545,924 46,508

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 35,869 36,868
Other creditors - 200,811
35,869 237,679

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,785 -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During this accounting period, the company repaid GBP 27,784 (2020 - GBP 243,519) to the director, Xiaoyu Zhou, who is also the shareholder of the company. The loan is interest free and unsecured.The full loan of GBP 215,735 is still outstanding at the year end.