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REGISTERED NUMBER: 04759416 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

X2 (UK) LIMITED

X2 (UK) LIMITED (REGISTERED NUMBER: 04759416)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


X2 (UK) LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: I A Cramb





REGISTERED OFFICE: Unit 4
Logix Park
Hinckley
Leicestershire
LE10 3BQ





REGISTERED NUMBER: 04759416 (England and Wales)






X2 (UK) LIMITED (REGISTERED NUMBER: 04759416)

ABRIDGED BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,658 35,323

CURRENT ASSETS
Debtors 1,610,829 1,628,032
Cash at bank 51,537 41,780
1,662,366 1,669,812
CREDITORS
Amounts falling due within one year 703,049 873,885
NET CURRENT ASSETS 959,317 795,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

999,975

831,250

CREDITORS
Amounts falling due after more than one
year

(10,000

)

(10,000

)

PROVISIONS FOR LIABILITIES (10,165 ) (8,831 )
NET ASSETS 979,810 812,419

CAPITAL AND RESERVES
Called up share capital 44,444 44,444
Share premium 10,556 10,556
Capital redemption reserve 45,000 45,000
Retained earnings 879,810 712,419
SHAREHOLDERS' FUNDS 979,810 812,419

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

X2 (UK) LIMITED (REGISTERED NUMBER: 04759416)

ABRIDGED BALANCE SHEET - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 January 2025 and were signed by:





I A Cramb - Director


X2 (UK) LIMITED (REGISTERED NUMBER: 04759416)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

X2 (UK) 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

X2 (UK) LIMITED (REGISTERED NUMBER: 04759416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 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 31 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 94,757
Additions 19,480
At 30 June 2024 114,237
DEPRECIATION
At 1 July 2023 59,434
Charge for year 14,145
At 30 June 2024 73,579
NET BOOK VALUE
At 30 June 2024 40,658
At 30 June 2023 35,323

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 15,000 30,000
Between one and five years - 15,000
15,000 45,000

6. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.