XL Works Limited 06900965 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is plant hire and general construction. Digita Accounts Production Advanced 6.30.9574.0 true 06900965 2023-06-01 2024-05-31 06900965 2024-05-31 06900965 core:RetainedEarningsAccumulatedLosses 2024-05-31 06900965 core:ShareCapital 2024-05-31 06900965 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 06900965 bus:SmallEntities 2023-06-01 2024-05-31 06900965 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06900965 bus:FullAccounts 2023-06-01 2024-05-31 06900965 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06900965 bus:RegisteredOffice 2023-06-01 2024-05-31 06900965 bus:Director1 2023-06-01 2024-05-31 06900965 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06900965 core:PlantMachinery 2023-06-01 2024-05-31 06900965 countries:EnglandWales 2023-06-01 2024-05-31 06900965 2023-05-31 06900965 2022-06-01 2023-05-31 06900965 2023-05-31 06900965 core:RetainedEarningsAccumulatedLosses 2023-05-31 06900965 core:ShareCapital 2023-05-31 06900965 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 06900965

XL Works Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

XL Works Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

XL Works Limited

(Registration number: 06900965)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

78,009

79,832

Current assets

 

Stocks

900

900

Debtors

1,326

-

Cash at bank and in hand

 

19,280

26,606

 

21,506

27,506

Creditors: Amounts falling due within one year

(9,571)

(3,324)

Net current assets

 

11,935

24,182

Net assets

 

89,944

104,014

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

89,943

104,013

Total equity

 

89,944

104,014

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

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 and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 18 February 2025
 

Mr J Dennis

Director

 

XL Works Limited

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

1

General information

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

The address of its registered office is:
The Granary
Pennymoor
Tiverton
Devon
EX16 8PG

These financial statements were authorised for issue by the director on 18 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

 

XL Works Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

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

4

Tangible assets

Total
£

Cost or valuation

At 1 June 2023

105,358

At 31 May 2024

105,358

Depreciation

At 1 June 2023

25,526

Charge for the year

1,823

At 31 May 2024

27,349

Carrying amount

At 31 May 2024

78,009

At 31 May 2023

79,832