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REGISTERED NUMBER: 07592754 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

X2AG LIMITED

X2AG LIMITED (REGISTERED NUMBER: 07592754)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


X2AG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A Gardiner
Mrs A Gardiner





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 07592754 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

X2AG LIMITED (REGISTERED NUMBER: 07592754)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,423 9,131

CURRENT ASSETS
Debtors 5 7,138 22,674
Cash at bank 3,312 5,095
10,450 27,769
CREDITORS
Amounts falling due within one year 6 10,902 28,008
NET CURRENT LIABILITIES (452 ) (239 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,971

8,892

CREDITORS
Amounts falling due after more than one
year

7

(5,085

)

(6,184

)

PROVISIONS FOR LIABILITIES 9 (1,410 ) (1,735 )
NET ASSETS 476 973

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 376 873
SHAREHOLDERS' FUNDS 476 973

X2AG LIMITED (REGISTERED NUMBER: 07592754)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2025 and were signed on its behalf by:




A Gardiner - Director



Mrs A Gardiner - Director


X2AG LIMITED (REGISTERED NUMBER: 07592754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

X2AG Limited 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.

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 - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

X2AG LIMITED (REGISTERED NUMBER: 07592754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 4,004 267 17,583 3,234 25,088
DEPRECIATION
At 1 May 2023 1,509 17 11,581 2,850 15,957
Charge for year 250 25 1,200 233 1,708
At 30 April 2024 1,759 42 12,781 3,083 17,665
NET BOOK VALUE
At 30 April 2024 2,245 225 4,802 151 7,423
At 30 April 2023 2,495 250 6,002 384 9,131

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,880 8,370
Directors' current accounts 4,258 14,304
7,138 22,674

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 1,000 1,000
Trade creditors 360 1,410
Tax 1,146 10,840
Social security and other taxes 599 621
VAT 6,724 7,773
Accrued expenses 1,073 6,364
10,902 28,008

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 5,085 6,184

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,085 1,184

X2AG LIMITED (REGISTERED NUMBER: 07592754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,000 1,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,000 2,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,000 3,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,085 1,184

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,410 1,735

Deferred
tax
£   
Balance at 1 May 2023 1,735
Provided during year (325 )
Balance at 30 April 2024 1,410

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

X2AG LIMITED (REGISTERED NUMBER: 07592754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
A Gardiner
Balance outstanding at start of year 14,304 9,480
Amounts advanced 4,258 14,304
Amounts repaid (14,304 ) (9,480 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,258 14,304