REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
XPON WIRELESS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
XPON WIRELESS LTD |
XPON WIRELESS LTD (REGISTERED NUMBER: 08542752) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Balance Sheet | 1 |
XPON WIRELESS LTD (REGISTERED NUMBER: 08542752) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
£ | £ | £ | £ |
FIXED ASSETS |
CURRENT ASSETS |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES | ( |
) | ( |
) |
NOTES TO THE FINANCIAL STATEMENTS |
1. | STATUTORY INFORMATION |
Xpon Wireless Ltd is a |
Registered number: |
Registered office: |
XPON WIRELESS LTD (REGISTERED NUMBER: 08542752) |
BALANCE SHEET - continued |
31 MAY 2024 |
NOTES TO THE FINANCIAL STATEMENTS |
2. | SUBSCRIPTION REVENUE |
XPON Wireless Ltd operates a telecommunications equipment rental business model, providing 5G radios, Fibre lines, and fixed wireless access connections to customers through subscription-based contracts ranging from 24 to 60 months. |
The company's financial statements reflect this business model through the treatment of subscription revenues. Of particular note in the current year is the £780,000 shown in prepayments and accrued income (as a negative figure), which represents the total contract value of equipment rental agreements. This treatment reflects the timing difference between contractual billing and revenue recognition under the subscription model. |
Key points for consideration: |
- Customer contracts span 24, 36, and 60-month terms |
- Equipment remains a company asset throughout the rental period |
- Revenue is recognized monthly over the contract term |
- The £780,000 represents future contracted income that will be released to the profit and loss account over the respective contract periods |
- This treatment aligns with revenue recognition principles for subscription-based business models |
The significant increase in trade debtors (£790,084 in 2024 vs £7,935 in 2023) largely reflects this subscription-based revenue model and the corresponding accounting treatment of long-term contracts. |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was |
The director acknowledges her 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 were approved by the director and authorised for issue on |