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REGISTERED NUMBER: 04495190 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Xtrutech Ltd

Xtrutech Ltd (Registered number: 04495190)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Xtrutech Ltd (Registered number: 04495190)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 327,618 833,164
Investments 5 12,022 12,022
339,640 845,186

CURRENT ASSETS
Stocks 1,442,811 1,282,920
Debtors 6 1,738,071 1,927,257
Cash at bank and in hand 591,148 494,353
3,772,030 3,704,530
CREDITORS
Amounts falling due within one year 7 1,608,513 1,776,443
NET CURRENT ASSETS 2,163,517 1,928,087
TOTAL ASSETS LESS CURRENT LIABILITIES 2,503,157 2,773,273

CREDITORS
Amounts falling due after more than one year 8 (18,340 ) (26,409 )

PROVISIONS FOR LIABILITIES (48,566 ) (36,151 )
NET ASSETS 2,436,251 2,710,713

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,436,151 2,710,613
SHAREHOLDERS' FUNDS 2,436,251 2,710,713

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

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

The directors acknowledge their 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.

Xtrutech Ltd (Registered number: 04495190)

Balance Sheet - continued
31 July 2024


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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




Mr R J Johnson - Director



Mr G Edwards - Director


Xtrutech Ltd (Registered number: 04495190)

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

1. STATUTORY INFORMATION

Xtrutech Ltd 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: 04495190

Registered office: Unit 5 Crown Road
Festival Park
Stoke-On-Trent
Staffordshire
ST1 5NJ

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 goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


Xtrutech Ltd (Registered number: 04495190)

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

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 52 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 August 2023 701,907 295,099 256,324
Additions - 4,026 9,024
Disposals (701,907 ) - -
At 31 July 2024 - 299,125 265,348
DEPRECIATION
At 1 August 2023 174,097 175,068 244,357
Charge for year 4,707 30,116 4,508
Eliminated on disposal (178,804 ) - -
At 31 July 2024 - 205,184 248,865
NET BOOK VALUE
At 31 July 2024 - 93,941 16,483
At 31 July 2023 527,810 120,031 11,967

Xtrutech Ltd (Registered number: 04495190)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 275,877 8,884 234,826 1,772,917
Additions 73,094 - 16,022 102,166
Disposals - - (1,303 ) (703,210 )
At 31 July 2024 348,971 8,884 249,545 1,171,873
DEPRECIATION
At 1 August 2023 122,762 8,884 214,585 939,753
Charge for year 28,666 - 16,612 84,609
Eliminated on disposal - - (1,303 ) (180,107 )
At 31 July 2024 151,428 8,884 229,894 844,255
NET BOOK VALUE
At 31 July 2024 197,543 - 19,651 327,618
At 31 July 2023 153,115 - 20,241 833,164

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 12,022
NET BOOK VALUE
At 31 July 2024 12,022
At 31 July 2023 12,022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 885,966 338,742
Amounts owed by group undertakings 605,957 1,181,421
Other debtors 246,148 407,094
1,738,071 1,927,257

Xtrutech Ltd (Registered number: 04495190)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 424,109
Trade creditors 944,883 799,077
Taxation and social security 77,691 89,086
Other creditors 585,939 464,171
1,608,513 1,776,443

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 18,340 26,409

Included within other creditors, both due within one year and due after more than one year, is a combined balance of £26,409 (2023: £34,479) which represents government grants that are being amortised in line with the depreciation policy of the fixed assets the grants relates to.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 264,859

Bank loans are secured by a legal charge over the land and buildings held within the company, along with all the undertakings of the company.

Hire purchase balances are secured upon the assets to which they relate.

10. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £826,314 (2023 - £454,992)

Included in this figure are leases totalling £780,942 (2023 - £431,531) relating to property, which represents the total amount of payments remaining on the leases ending in 2033.

The remaining financial commitments represent the total amount of payments remaining on leases ending on or before 2027.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Xtrutech has provided a cross-guarantee with Twin - Screw Innovations Limited, a company wholly owned by Mr Ryan Moore and Mr Andrew Davis. The balance of this guarantee amounts to £228,360 at the end of the financial year (2023 - £349,520), and is to be repaid in equal monthly instalments ending in March 2026.