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Registered Number: 06055115
England and Wales

 

 

 

XPRESSION EVENT SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 425,911    303,107 
425,911    303,107 
Current assets      
Debtors 5 377,449    324,294 
Cash at bank and in hand (44,140)   87,350 
333,309    411,644 
Creditors: amount falling due within one year 6 (456,768)   (271,535)
Net current assets (123,459)   140,109 
 
Total assets less current liabilities 302,452    443,216 
Creditors: amount falling due after more than one year 7 (212,889)   (124,409)
Provisions for liabilities 8 (87,213)   (52,122)
Net assets 2,350    266,685 
 

Capital and reserves
     
Called up share capital 9 1,000    1,000 
Capital Redemption Reserve 10 200    200 
Profit and loss account 1,150    265,485 
Shareholders' funds 2,350    266,685 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 October 2024 and were signed on its behalf by:


-------------------------------
J Hill
Director
1
General Information
Xpression Event Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 06055115, registration address 3210 Heyford Park, Camp Road, Upper Heyford, Bicester, Oxfordshire, OX25 5HA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the basis stated below. 
Due to the impact of Covid-19 restrictions and the subsequent significant reduction in the use of a number of the companys commercial vehicles, the directors believe that it would be inappropriate to depreciate part of the vehicle fleet in these accounts.
The directors believe that the useful economic life of these vehicles has been extended by at least a further year.
Computer Equipment 33.33% Straight Line
Fixtures and Fittings 25% and 20% Straight Line
Plant and Machinery 20% and 10% Straight Line
Motor Vehicles 20% and 10% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 22 (2023 : 14).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2023 20,000    20,000 
Additions  
Disposals  
At 31 January 2024 20,000    20,000 
Amortisation
At 01 February 2023 20,000    20,000 
Charge for year  
On disposals  
At 31 January 2024 20,000    20,000 
Net book values
At 31 January 2024  
At 31 January 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 February 2023 278,316    1,150,637    223,958    37,074    1,689,985 
Additions 54,559    220,028      6,117    280,704 
Disposals (2,723)     (45,207)   (24,791)   (72,721)
At 31 January 2024 330,152    1,370,665    178,751    18,400    1,897,968 
Depreciation
At 01 February 2023 221,540    926,230    203,453    35,655    1,386,878 
Charge for year 31,553    118,552    6,211    1,583    157,899 
On disposals (2,723)     (45,206)   (24,791)   (72,720)
At 31 January 2024 250,370    1,044,782    164,458    12,447    1,472,057 
Net book values
Closing balance as at 31 January 2024 79,782    325,883    14,293    5,953    425,911 
Opening balance as at 01 February 2023 56,776    224,407    20,505    1,419    303,107 

Included within the net book value of tangible fixed assets is £361,418 (2023: £237,984) in respect of assets held on finance leases or similar hire purchase contracts. Depreciation for the year on these assets was £135,602 (2023: £77,824).

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 343,469    227,074 
Provision for Doubtful Debts (28,224)   (14,108)
Prepayments & Accrued Income 2,037    70,019 
Other Debtors 37,284    41,309 
Corporation Tax 22,883   
377,449    324,294 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 178,341    133,722 
Bank Loans & Overdrafts 10,098    9,849 
Corporation Tax   22,883 
PAYE & Social Security 19,466    11,436 
Accrued Expenses 11,364    5,043 
Other Creditors 23,140    7,519 
Obligations under HP/Financial Leases 98,205    56,092 
Directors' Current Accounts 49,273    72 
VAT 66,881    24,919 
456,768    271,535 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 16,514    26,612 
Obligations Under HP/Financial Leases 196,375    97,797 
212,889    124,409 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 80,923    66,599 
Charged to Profit & Loss   (16,512)
Pension Provisions 6,290    2,035 
87,213    52,122 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
900 Class A shares of £1.00 each 900    900 
100 Class B shares of £1.00 each 100    100 
1,000    1,000 

10.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 200    200 
200    200 

11.

Related Party Transactions

Oxford Stage Hire Limited is a company owned and controlled by the Directors of Xpression Event Solutions Limited.

During the period the company made rental payments of £33,000 (2023: £32,520) to Oxford Stage Hire Limited.

At the balance sheet date the amount due from Oxford Stage Hire Limited was £35,684 (2023: £39,709).
2