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REGISTERED NUMBER: 10753065 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

X Twenty Nine Limited

X Twenty Nine Limited (Registered number: 10753065)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


X Twenty Nine Limited (Registered number: 10753065)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,751 11,643
Tangible assets 5 5,898 4,785
14,649 16,428

CURRENT ASSETS
Debtors 6 626,161 564,098
Cash at bank and in hand 9,915 35,160
636,076 599,258
CREDITORS
Amounts falling due within one year 7 82,509 33,671
NET CURRENT ASSETS 553,567 565,587
TOTAL ASSETS LESS CURRENT LIABILITIES 568,216 582,015

CREDITORS
Amounts falling due after more than one year 8 (15,000 ) (25,000 )

PROVISIONS FOR LIABILITIES (1,121 ) (1,191 )
NET ASSETS 552,095 555,824

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 551,995 555,724
SHAREHOLDERS' FUNDS 552,095 555,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 December 2024 and were signed by:




Mr J A Cooper - Director


X Twenty Nine Limited (Registered number: 10753065)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

X Twenty Nine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10753065

Registered office: Ebenezer House
Ryecroft
Newcastle
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

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

X Twenty Nine Limited (Registered number: 10753065)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 June 2023
and 31 May 2024 14,460
AMORTISATION
At 1 June 2023 2,817
Amortisation for year 2,892
At 31 May 2024 5,709
NET BOOK VALUE
At 31 May 2024 8,751
At 31 May 2023 11,643

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 6,051 9,944 15,995
Additions 2,110 1,439 3,549
At 31 May 2024 8,161 11,383 19,544
DEPRECIATION
At 1 June 2023 3,052 8,158 11,210
Charge for year 811 1,625 2,436
At 31 May 2024 3,863 9,783 13,646
NET BOOK VALUE
At 31 May 2024 4,298 1,600 5,898
At 31 May 2023 2,999 1,786 4,785

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,193 5,310
Amounts owed by group undertakings 558,010 558,010
Other debtors 10,958 778
626,161 564,098

X Twenty Nine Limited (Registered number: 10753065)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 21,751 496
Taxation and social security 48,488 20,796
Other creditors 2,270 2,379
82,509 33,671

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,000 25,000

9. OTHER FINANCIAL COMMITMENTS

There were no financial commitments at 31 May 2024 (2023: £19,670).

10. ULTIMATE CONTROLLING PARTY

The company is controlled by JT Maxwell Limited who own 100% of the company share capital.