2 false false false false false false false false false false true false false false false false false 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13206924 2023-03-01 2024-02-29 13206924 2024-02-29 13206924 2023-02-28 13206924 2022-03-01 2023-02-28 13206924 2023-02-28 13206924 2022-02-28 13206924 core:PlantMachinery 2023-03-01 2024-02-29 13206924 bus:Director1 2023-03-01 2024-02-29 13206924 bus:Director2 2023-03-01 2024-02-29 13206924 core:PlantMachinery 2023-02-28 13206924 core:PlantMachinery 2024-02-29 13206924 core:WithinOneYear 2024-02-29 13206924 core:WithinOneYear 2023-02-28 13206924 core:ShareCapital 2024-02-29 13206924 core:ShareCapital 2023-02-28 13206924 core:RetainedEarningsAccumulatedLosses 2024-02-29 13206924 core:RetainedEarningsAccumulatedLosses 2023-02-28 13206924 core:PlantMachinery 2023-02-28 13206924 bus:SmallEntities 2023-03-01 2024-02-29 13206924 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13206924 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13206924 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13206924 bus:FullAccounts 2023-03-01 2024-02-29 13206924 core:ComputerEquipment 2023-03-01 2024-02-29 13206924 core:ComputerEquipment 2023-02-28 13206924 core:ComputerEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 13206924
Xanadu Construction (Suffolk) Limited
Unaudited financial statements
29 February 2024
Xanadu Construction (Suffolk) Limited
Statement of financial position
29 February 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
64,432
74,967
Current assets
Stocks
999,183
553,671
Debtors
6
26,152
14,361
Cash at bank and in hand
124,843
924,132
-----------
-----------
1,150,178
1,492,164
Creditors: Amounts falling due within one year
7
( 193,920)
( 463,888)
-----------
-----------
Net current assets
956,258
1,028,276
-----------
-----------
Total assets less current liabilities
1,020,690
1,103,243
Provisions
Taxation including deferred tax
4,159
-----------
-----------
Net assets
1,024,849
1,103,243
-----------
-----------
Capital and reserves
Called up share capital
4
4
Profit and loss account
1,024,845
1,103,239
-----------
-----------
Shareholders funds
1,024,849
1,103,243
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
A J Mottram
S T Ptasznski
Director
Director
Company registration number: 13206924
Xanadu Construction (Suffolk) Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA, England. The trading address is 88 Bucklesham Road, Ipswich, Suffolk, IP3 8TS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 March 2023
78,641
2,914
81,555
Additions
1,180
1,180
-------
------
-------
At 29 February 2024
79,821
2,914
82,735
-------
------
-------
Depreciation
At 1 March 2023
6,284
304
6,588
Charge for the year
10,986
729
11,715
-------
------
-------
At 29 February 2024
17,270
1,033
18,303
-------
------
-------
Carrying amount
At 29 February 2024
62,551
1,881
64,432
-------
------
-------
At 28 February 2023
72,357
2,610
74,967
-------
------
-------
6. Debtors
2024
2023
£
£
Other debtors
26,152
14,361
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
17,674
Social security and other taxes
251,703
Other creditors
176,246
212,185
---------
---------
193,920
463,888
---------
---------