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2020X LIMITED

Registered Number
08628411
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

2020X LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

ALLIN, Mark Garry
CALVO-COUTO, Carmen

Company Secretary

CALVO-COUTO, Carmen

Registered Address

79 Poulters Lane
Worthing
BN14 7SX

Registered Number

08628411 (England and Wales)
2020X LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34354
Investments4-96
43150
Current assets
Debtors5150186
Cash at bank and on hand159698
309884
Creditors amounts falling due within one year6(759)(572)
Net current assets (liabilities)(450)312
Total assets less current liabilities(407)462
Accruals and deferred income(414)(414)
Net assets(821)48
Capital and reserves
Called up share capital55
Profit and loss account(826)43
Shareholders' funds(821)48
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2024, and are signed on its behalf by:
ALLIN, Mark Garry
Director
Registered Company No. 08628411
2020X LIMITED
Notes to the Financial Statements
for the year ended 31 July 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
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 2314,68114,681
At 31 July 2414,68114,681
Depreciation and impairment
At 01 August 2314,62714,627
Charge for year1111
At 31 July 2414,63814,638
Net book value
At 31 July 244343
At 31 July 235454
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 August 239696
Disposals(96)(96)
Net book value
At 31 July 24--
At 31 July 239696

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Other debtors150186
Total150186
6.Creditors: amounts due within one year

2024

2023

££
Other creditors759572
Total759572
7.Controlling party
The company is controlled by its director, M Allin, by virtue of his majority ownership of the issued share capital.