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Registration number: 11282038

XIP Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

XIP Holdings Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

XIP Holdings Limited

Company Information

Director

A J Crump

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
XIP Holdings Limited
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of XIP Holdings Limited for the year ended 31 January 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of XIP Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of XIP Holdings Limited and state those matters that we have agreed to state to the Board of Directors of XIP Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than XIP Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that XIP Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of XIP Holdings Limited. You consider that XIP Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of XIP Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

31 January 2025

 

XIP Holdings Limited

(Registration number: 11282038)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

75,100

75,100

Current assets

 

Debtors

5

2,171,407

2,172,337

Cash at bank and in hand

 

5,000

5,000

 

2,176,407

2,177,337

Creditors: Amounts falling due within one year

6

(8,042)

(8,972)

Net current assets

 

2,168,365

2,168,365

Net assets

 

2,243,465

2,243,465

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

2,243,365

2,243,365

Shareholders' funds

 

2,243,465

2,243,465

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2025
 

.........................................
A J Crump
Director

 

XIP Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the director on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

XIP Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2023

75,100

75,100

At 31 January 2024

75,100

75,100

Impairment

Carrying amount

At 31 January 2024

75,100

75,100

5

Debtors

Current

2024
£

2023
£

Other debtors

2,171,407

2,172,337

 

2,171,407

2,172,337

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

930

Taxation and social security

 

1,450

1,450

Accruals and deferred income

 

6,592

6,592

 

8,042

8,972

 

XIP Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

930